Specific Order Costing MCQs

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on November 18, 2021

Complete this quick set of multiple choice questions (MCQs) to test your knowledge of the specific order costing system. You can use this quiz to help prepare for your exams, interviews, and other assessments.

1. An essential aspect of long-term costing is that:

2. A debit balance on the contractee account should be incorporated in the balance sheet as:

3. Retention monies are best defined as:

4. A zero value of attributable profit should be assumed where:

5. Which of the following is the most appropriate definition of turnover at an intermediate stage in a contract?

6. Foreseeable losses estimated for a contract should be treated in which of the following ways?


 

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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