Test your knowledge with this multiple choice question (MCQ) test on manufacturing accounts. If you can answer every question correctly, it will be great preparation for your exams, interviews, and professional work. Just click the "Start Quiz" to begin the quiz. 1. Direct materials Indirect materials Direct expenses See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Direct materials (option 1). 2. Prime cost Productive labor Conversion labor See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Productive labor (option 2). 3. Prime cost Conversion cost Manufacturing cost See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Conversion cost (option 2). 4. Factory overhead Manufacturing cost Indirect cost See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Factory overhead (option 1). 5. Under-applied FOH Over-applied FOH Actual FOH See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Over-applied F.O.H (option 2). 6. Factory cost Manufacturing cost Prime cost Production cost See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Prime cost (option 3). 7. Direct material Factory overhead Indirect material See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Indirect material (option 3). 8. Indirect labour Indirect material Factory overhead See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Factory overhead (option 3). 9. Cost Expense Revenue See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Cost (option 1). 10. Cost Expense Revenue See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Expense (option 2). View Results Manufacturing Accounts MCQs FAQs What factors should be considered when making decisions in accounting? When making decisions in accounting, it is essential to consider all relevant factors. Some of the factors that may be considered include the company’s financial position, Cash Flow, profitability, and business strategy. What are some common accounting decisions? In accounting, decision-making is the process of choosing between two or more courses of action to achieve the desired outcome. Factors that should be considered when making decisions include the company’s financial position, Cash Flow, profitability, and business strategy. Accountants use the information to make decisions by analyzing data and trends to make informed decisions to help the company achieve its goals. How do accountants make decisions? Accountants use the information to make decisions by analyzing data and trends. This information can come from Financial Statements, internal reports, surveys, and other sources. By analyzing this data, accountants can make informed decisions to help the company achieve its goals. What are some common accounting decision-making models? Common accounting decision-making models include the rational decision model, the incremental decision model, and the satisficing decision model. Each of these models has its own set of steps that should be followed when deciding. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.
Test your knowledge with this multiple choice question (MCQ) test on manufacturing accounts. If you can answer every question correctly, it will be great preparation for your exams, interviews, and professional work. Just click the "Start Quiz" to begin the quiz. 1. Direct materials Indirect materials Direct expenses See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Direct materials (option 1). 2. Prime cost Productive labor Conversion labor See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Productive labor (option 2). 3. Prime cost Conversion cost Manufacturing cost See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Conversion cost (option 2). 4. Factory overhead Manufacturing cost Indirect cost See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Factory overhead (option 1). 5. Under-applied FOH Over-applied FOH Actual FOH See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Over-applied F.O.H (option 2). 6. Factory cost Manufacturing cost Prime cost Production cost See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Prime cost (option 3). 7. Direct material Factory overhead Indirect material See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Indirect material (option 3). 8. Indirect labour Indirect material Factory overhead See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Factory overhead (option 3). 9. Cost Expense Revenue See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Cost (option 1). 10. Cost Expense Revenue See answer Awesome! Your answer is correct. Your answer is incorrect. The correct answer is Expense (option 2). View Results