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2065. Cost which is related to specific cost object and cannot be economically traceable is classified as

line cost

staff cost

direct cost

indirect cost

✅ The correct answer is D.
Cost which is related to specific cost object and cannot be economically traceable is classified as indirect cost. Indirect costs are costs used by multiple activities, and which cannot therefore be assigned to specific cost objects.

2066. Job costing method is the most suitable method for ________.

oil process units

transport companies

sugar industries

repair shops

✅ The correct answer is D.
Job costing method is the most suitable method for repair shops. A job costing system is used by companies that produce unique products or jobs.

2067. If any condition is put by the Insurer then it is

Acceptance

Offer

Counter offer

Conditional acceptance

✅ The correct answer is C.
If any condition is put by the Insurer then it is Counter offer. A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. It is a new offer made in response to an offer received.

2068. What checks out your computer or network for potential weaknesses?

Encryption

Public key encryption

Security‐auditing software

None of the above

✅ The correct answer is C.
Security‐auditing software checks out your computer or network for potential weaknesses. A computer security audit is a manual or systematic measurable technical assessment of a system or application.

2069. Number of years forecasted to recover an original investment is classified as

payback period

forecasted period

original period

investment period

✅ The correct answer is A.

2070. In calculation of time, value of money, ”N ”represents

number of payment periods

number of investment

number of instalments

number of premium received

✅ The correct answer is A.
In calculation of time, value of money, ”N ”represents number of payment periods.

2071. If budgeted direct labour hours are 4550 and direct labour cost rate is $600 per labour hour then, total direct labour cost would be

$4,730,000

$3,730,000

$2,730,000

$1,730,000

✅ The correct answer is C.
Total direct labour cost = Budgeted direct labour hours × Direct labour cost rate
= 4550 × $600 = $2,730,000

2075. If budgeted cost in indirect cost pool is $144500 and total quantity of cost allocation base is $165500, then budgeted indirect cost rate will be

67.30%

87.31%

55.50%

45.50%

✅ The correct answer is B.

2076. An analysis of data over successive past periods, which pertain to some plant, activity and organization is called

economic series

financial series

time series

analytical series

✅ The correct answer is C.
An analysis of data over successive past periods, which pertain to some plant, activity and organization is called time series. A time series is a sequence of numerical data points in successive order.

2078. A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is

Zero

Infinite

Equal to 1

Greater than 0 but less than 1

✅ The correct answer is B.
A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is Infinite. The horizontal supply curve shows another extreme case, i.e., that of perfectly inelastic supply. The implication of such a supply curve is that a little price cut will cause the quantity supplied to fall to zero while a slightest increase in price will induce purchasers to offer an infinitely large quantity.

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