CA Intermediate Paper 3

Joint Products & By Products MCQ

Chapter 11 • 13 Questions from ICAI Study Material

Questions

13

Est. Time

20 min

Source

ICAI Book

Sample Questions: Joint Products & By Products

Preview 3 of 13 questions from Chapter 11

1. In sugar manufacturing industries molasses is also produced along with sugar. Molasses may be of smaller value as compared with the value of sugar and is known as:

A) Common product
B) By- product ✓
C) Joint product
D) None of them

2. Method of apportioning joint costs on the basis of output of each joint product at the point of split off is:

A) Sales value method
B) Physical unit method ✓
C) Average cost method
D) Marginal cost and contribution method

3. In the Net realisable value method, for apportioning joint costs over the joint products, the basis of apportionment would be:

A) Selling price per unit of each of the joint products
B) Selling price multiplied by units sold of each of the joint products
C) Sales value of each joint product less further processing costs of individual products
D) Both (b) and (c) ✓