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| Section | Objectives |
|---|---|
| Topic 1: Costing Methods | - Marginal costing
|
| Topic 2: Budgeting and Forecasting | - Budget preparation
|
| Topic 3: Decision Making Techniques | - Cost analysis for decisions
|
| Topic 4: Accounting for Materials, Labour and Overheads | - Labour costing
|
| Topic 5: Introduction to Cost Accounting | - Cost classification and behavior
|
Which of the following statements about batch costing is true?
Correct Answer: A 🗳️
Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).
According to CIMA's Code of Ethics, CIMA members should not allow bias, conflict of interest of the influence of other people to override their professional judgement.
This is an example of:
Correct Answer: D 🗳️
Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).
The year-to-date results at the end of month 9 included sales revenue of $3,600,000 and variable costs of
$2,100,000.
During month 10, sales revenue was $450,000 and variable costs were $270,000.
What year-to-date contribution to sales ratio (C/S ratio) would be reported at the end of month 10?
Correct Answer: B 🗳️
Which of the following would NOT require taking into account the time value of money?
Correct Answer: C 🗳️
Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).
A sales manager has analysed a sample of 350 sales transactions from the latest period. The manager wishes to investigate:
how many customers made their purchase online using the internet and how many purchased by telephone.
how many were new customers and how many were placing repeat orders.
The following table shows the results of the analysis.
If the pattern of sales occurs next period, the probability of a particular sale being a repeat order placed online is closest to:
Correct Answer: A 🗳️
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