Financial and Cost Accounting

29 Jun

1. Differentiate between idle cost and standard cost?

2. What is a trial balance? Explain its objective.

3. Distinguish between Accrual basis of accounting and cash basis of accounting.

4. Standard costing is a valuable aid to management discuss. State in brief limitation of standard costing?

5. Define Budgetary Control and explain the pre-requisites for its successful introduction and implementation?

6. How the total cost, variable cost and marginal cost differ from each other?

7. What are the advantages of cost audit?

8. Which are the different ways by which the cost can be analyzed?

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