Lecturer Commerce Most Important MCQs Online Test No. 52

Online Free Taleem is free online MCQ’s test related to Lecturer Commerce. All the individuals who are going to appear in PPSC, FPSC, KKPSC, SPSC, BPSC, AJ&KPSC, NTS, Lecturer Commerce written test can attempt these tests in order to prepare for it in best possible way. Our tests of Lecturer of Commerce include all the important questions and Past Paper of  Lecturer Commerce, that have extremely high amount of chances for been included in the actual exam which make our test undoubtedly the best source of preparation.


There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
Practice this test at least 5 times if you want to secure High Marks.
At the End of the Test you can see your Test score and Rating.
If you found any incorrect answer in Quiz. Simply click on the quiz title and comment below on that MCQ. So that I can update the incorrect answer on time.

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Test Instructions:-
Test NameLecturer Commerce
SubjectCommerce Test 52
Test TypeMCQs
Total Questions25
Total Time20 Minutes
Total Marks100

You have 20 minutes to pass to the quiz.

Lecturer Commerce Online Test No. 52

1 / 25

Equivalent production is not critical to the computation of which variance?

2 / 25

Predetermined specifications of quantities that should go into the production of one finished unit are known as:

3 / 25

Variance that the treated as period costs will be closed to:

4 / 25

Unfavorable variances are the result of management's use of:

5 / 25

Which one of the following statements best characterizes standard costs?

6 / 25

Which of the following cost bases should be used to value inventory for external financial reporting?

7 / 25

For external financial statement purposes, inventories must be reported at:

8 / 25

Standard costs provide the building locks for a (n):

9 / 25

In standards costing, standard hours allowed is a means of measuring.

10 / 25

Which of the following elements of production is not viewed ass waste time?

11 / 25

A standard that is developed using utopian conditions for a given manufacturing process is know as a(n):

12 / 25

The type of closing which is most suitable for cost control purpose is:

13 / 25

Standards that can be met or even surpassed by the employment of efficient operations are know as a(n):

14 / 25

Standard cost are:

15 / 25

A standard that is never altered once established is known as a (n):

16 / 25

Which department is in the best position to set realistically attainable quantity standards for a production process?

17 / 25

Which of the following accounts is not kept at standard costs under a standard cost system?

18 / 25

Factory overhead costs under a standard cost system are debited to Work-in- process Inventory at:

19 / 25

When inventory is to be shown at actual costs, the variances will be charged off as a:

20 / 25

When inventory is to be shown at standard costs, the variances will be charged off as a:

21 / 25

Excess direct labor wages will be disclosed in which type of variance?

22 / 25

The area on a learning curve in which the average direct labor time per unit stabilizes is known as the:

23 / 25

Of the different types of standards listed below, the one which best describes labor cost that should be incurred under forthcoming efficient Operating conditions is:

24 / 25

When standard costs are used, the amount of detailed record keeping will normally:

25 / 25

What standard cost variance represents the difference between actual factory overhead incurred and budgeting factory overhead based on actual direct labor hours worked?

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