Correct Answer:
D. Has a relatively minor sales value compared with the main product
By-products are secondary outputs of low value arising from the production of main products.
November 13, 2026 · Accounting and Finance MCQs, Cost & Management Accounting MCQs
A by-product is a product that:
Related MCQs
An external confirmation of accounts receivable balances mainly provides evidence about:
A.
Valuation of inventory
B.
Completeness of payables
C.
Compliance with tax law
D.
Existence of the receivables
Correct answer is:
D. Existence of the receivables
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Working capital management mainly deals with decisions about:
A.
Long-term investment projects
B.
Issuing long-term bonds
C.
Current assets and current liabilities
D.
Mergers only
Correct answer is:
C. Current assets and current liabilities
Do you agree with this answer?
The Federal Consolidated Fund of Pakistan is established under:
A.
Article 78 of the Constitution
B.
Article 62 of the Constitution
C.
Article 100 of the Constitution
D.
Article 184 of the Constitution
Correct answer is:
A. Article 78 of the Constitution
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An accrued expense is an expense that has been:
A.
Paid in advance
B.
Paid and recorded as an asset
C.
Neither incurred nor paid
D.
Incurred but not yet paid, shown as a liability
Correct answer is:
D. Incurred but not yet paid, shown as a liability
Do you agree with this answer?
An auditor's report on the financial statements of a company is generally addressed to:
A.
The tax inspector
B.
The bank manager
C.
The company's employees
D.
The members or shareholders of the company
Correct answer is:
D. The members or shareholders of the company
Do you agree with this answer?
Kaizen costing focuses on:
A.
A one-time large cost cut during design
B.
Continuous small cost reductions during the manufacturing stage
C.
Increasing prices every year
D.
Ignoring costs after production begins
Correct answer is:
B. Continuous small cost reductions during the manufacturing stage
Do you agree with this answer?
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