Quick: read the process account

Exercise and reference answers

Questions

1. Question

   Input is 5,000 units and normal loss is 5 per cent. Normal loss units are

   Choices

   1. 500
   2. 250
   3. 50

   Correct choice

   250

2. Question

   With no scrap value, the value credited to normal loss is

   Choices

   1. Cost per unit
   2. Scrap value
   3. Nil

   Correct choice

   Nil

3. Question

   Cost per unit divides total cost by

   Choices

   1. Input units less normal loss
   2. Total input units
   3. Output units sold

   Correct choice

   Input units less normal loss

4. Question

   Loss caused by a worker's carelessness is treated as

   Choices

   1. Normal loss
   2. Abnormal loss
   3. Inter-process profit

   Correct choice

   Abnormal loss

Instructions

Tap the correct answer for each line of the worked example.

Explanation