Accounting MCQs with answers Page - 33

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A

Admin • 802.91K Points
Coach

Q. Which of the following is a variable cost?

  • (A) Rent
  • (B) Salaries
  • (C) Raw materials
  • (D) Depreciation

A

Admin • 802.91K Points
Coach

Q. Cost classification by behaviour includes:

  • (A) Fixed, variable, semi-variable
  • (B) Direct and indirect
  • (C) Product and period cost
  • (D) Controllable and uncontrollable

A

Admin • 802.91K Points
Coach

Q. A factory incurs Rs. 5000 on direct material, Rs. 3000 on direct labour and Rs. 2000 on direct expenses. The prime cost is:

  • (A) Rs. 8000
  • (B) Rs. 10000
  • (C) Rs. 9000
  • (D) Rs. 7000

A

Admin • 802.91K Points
Coach

Q. Factory cost is calculated as:

  • (A) Prime cost + Factory overheads
  • (B) Prime cost + Admin overheads
  • (C) Total cost – Selling expenses
  • (D) Prime cost + Selling overheads

A

Admin • 802.91K Points
Coach

Q. Budgetary control helps in:

  • (A) Tax calculation
  • (B) Cost allocation
  • (C) Controlling business activities
  • (D) Product costing

A

Admin • 802.91K Points
Coach

Q. A cost that remains fixed in total but decreases per unit with increase in production is:

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

A

Admin • 802.91K Points
Coach

Q. Which of the following is an uncontrollable cost?

  • (A) Wages
  • (B) Rent
  • (C) Electricity
  • (D) Depreciation

A

Admin • 802.91K Points
Coach

Q. The main purpose of a cost sheet is to:

  • (A) Record financial transactions
  • (B) Show gross profit
  • (C) Show cost per unit
  • (D) Calculate cash flows

A

Admin • 802.91K Points
Coach

Q. Which of the following is included in indirect material cost?

  • (A) Raw materials used in production
  • (B) Lubricants used for machines
  • (C) Wages paid to laborers
  • (D) Packing material for dispatch

A

Admin • 802.91K Points
Coach

Q. What is the main objective of marginal costing?

  • (A) To calculate profit
  • (B) To control cost
  • (C) To determine break-even point
  • (D) To calculate inventory

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