Skip to content
Play Accounting
  • Home
  • Financial Accounting
  • Cost Accounting
  • Q & A
  • Short questions
  • MCQs
  • Accounting Terms
Play Accounting
  • Home
  • Financial Accounting
  • Cost Accounting
  • Q & A
  • Short questions
  • MCQs
  • Accounting Terms

H

Historical Cost Convention – Definition

November 13, 2019 by Abbas Ahmad

What is the Historical Cost Convention? Under the Historical Cost Convention, assets and liabilities are initially recorded in the accounting system at their original or historical cost and are not adjusted for the subsequent increase in value.

Categories H Leave a comment

Hybrid costing

December 7, 2018 by Abbas Ahmad

Hybrid costing is a costing system with blends of characteristics from both job costing and process costing.

Categories H Leave a comment

Homogeneous cost

December 7, 2018 by Abbas Ahmad

Homogeneous cost pool is a cost pool in which each activity whose costs are included in it as the same or a similar cause and effect relationship between the cost driver and the costs at that activity.

Categories H Leave a comment

High-low method

December 7, 2018 by Abbas Ahmad

High-low method is a method of estimating a cost function that uses only the highest and values of the cost driver within the relevant range.

Categories H Leave a comment

Financial Accounting Topics

  • Computerized Accounting
  • Adjusting Entry for Accrued Income
  • Accounting Conventions
  • Creative Accounting
  • Window Dressing
  • Enterprise Value
  • Carrying Value or Book Value
  • Indifference Analysis
  • Combined Leverage
  • Financial Leverage

Cost Accounting Topics

  • Goods in transit
  • Periodic Inventory System
  • Factory Overhead Practical Problems and Solutions
  • Important Techniques of Factory Overhead Costing
  • Important techniques of labour costing
  • Labour Costing Practical questions with answers
  • Job Order Costing Examples, Practical Problems and Solutions
  • Predetermined Overhead Rate
  • Cost of production report (CPR) questions and answers
  • Incentive Plans

Question and Answers

  • Financial Reporting
  • Inventory Control System
  • Statement of changes in working capital
  • How to measure the acquisition cost of property, plant and equipment?
  • Comparison Between Different Cost Flow Assumptions
  • Application of different Cost Flow Assumptions
  • How to Determine the Cost of Ending Inventory
  • Methods of Estimating Ending Inventory
  • Lower of Cost or Market (LCM) Theory
  • Perpetual Inventory System

Cost Accounting MCQs

  • Introduction to cost accounting – MCQs quiz
  • Process Costing MCQs
  • Specific Order Costing MCQs
  • Overhead Costing MCQs
  • Labour Costing MCQs
  • Material Costing MCQs
  • Cost Concept, Analysis and Classifications MCQs
  • Privacy policy
  • Contact us
  • Useful Websites
  • Write for us
  • Business News
PlayAccounting | Copyright © 2021
Scroll back to top