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A 15 Which of the following is the best definition of an avoidable cost? (a)...

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Accounting

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A 15 Which of the following is the best definition of an avoidable cost? (a) One which may be avoided by delaying payment of the invoice. (b) One which may be avoided by refusing to accept goods or services delivered under contract. (c) One which may be eliminated by not taking a particular option. (d) One which may be eliminated by merging two line items in the budget. A 16 Which of the following questions is an example of using management accounting to direct attention? (a) Who is responsible for achieving this month's cost reduction? (b) How do we carry out this activity? (c) Where are the stocks of good held in store? (d) What are the strategic aims of the business? A 17 Which of the following defines total product cost? (a) Direct costs plus indirect costs of production, selling and administration (b) Prime cost plus direct cost. (c) Prime cost plus production overhead. (d) Indirect cost plus production overhead. A 18 Which of the following items will appear in a job cost record? (a) A budget plan for the job. (b) An organisation chart for the job. (c) Cost of direct materials for the job. (d) A working capital plan for the job

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