Accounting MCQs with answers Page - 29

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A

Admin • 833.24K Points
Coach

Q. Which of the following is a method of costing?

  • (A) Marginal costing
  • (B) Batch costing
  • (C) Cost sheet
  • (D) Absorption costing

A

Admin • 833.24K Points
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Q. Process costing is applicable in:

  • (A) Printing press
  • (B) Furniture making
  • (C) Chemical industry
  • (D) Tailoring shop

A

Admin • 833.24K Points
Coach

Q. Direct wages are part of:

  • (A) Prime cost
  • (B) Factory overhead
  • (C) Administrative cost
  • (D) Selling cost

A

Admin • 833.24K Points
Coach

Q. Which of the following is considered as controllable cost?

  • (A) Manager's salary
  • (B) Depreciation
  • (C) Electricity cost in a factory
  • (D) Building rent

A

Admin • 833.24K Points
Coach

Q. The term 'cost sheet' refers to:

  • (A) A financial statement
  • (B) Statement of profit
  • (C) Statement showing cost components
  • (D) Ledger summary

A

Admin • 833.24K Points
Coach

Q. In marginal costing, fixed cost is treated as:

  • (A) Product cost
  • (B) Period cost
  • (C) Variable cost
  • (D) Irrelevant cost

A

Admin • 833.24K Points
Coach

Q. Cost audit is conducted to:

  • (A) Check financial statements
  • (B) Check errors in journal entries
  • (C) Verify cost accounting records
  • (D) Calculate tax

A

Admin • 833.24K Points
Coach

Q. Which cost changes with level of activity?

  • (A) Fixed cost
  • (B) Sunk cost
  • (C) Variable cost
  • (D) Historical cost

A

Admin • 833.24K Points
Coach

Q. What does the term 'marginal cost' refer to?

  • (A) Total fixed cost
  • (B) Cost of producing one additional unit
  • (C) Total variable cost
  • (D) Total cost of production

A

Admin • 833.24K Points
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Q. Which costing method is used in construction contracts?

  • (A) Job Costing
  • (B) Process Costing
  • (C) Contract Costing
  • (D) Batch Costing

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