Accounting MCQs with answers Page - 34

Here, you will find a collection of MCQ questions on Accounting. Go through these questions to enhance your preparation for upcoming examinations and interviews.

To check the correct answer, simply click the View Answer button provided for each question.

Have your own questions to contribute? Click the button below to share your MCQs with others!

+ Add Question

A

Admin • 833.24K Points
Coach

Q. What is the classification of rent of office building in cost accounting?

  • (A) Selling overhead
  • (B) Administrative overhead
  • (C) Factory overhead
  • (D) Direct expense

A

Admin • 833.24K Points
Coach

Q. Scrap value is considered in calculation of:

  • (A) Profit margin
  • (B) Selling price
  • (C) Depreciation
  • (D) Prime cost

A

Admin • 833.24K Points
Coach

Q. In cost accounting, a 'batch' refers to:

  • (A) Each individual item produced
  • (B) A large contract
  • (C) A group of identical items
  • (D) Process division

A

Admin • 833.24K Points
Coach

Q. A flexible budget is useful when:

  • (A) Costs are fixed
  • (B) There is no variation in activity level
  • (C) Activity level changes frequently
  • (D) Sales are declining

A

Admin • 833.24K Points
Coach

Q. Which of the following costs is NOT considered for decision making?

  • (A) Relevant cost
  • (B) Sunk cost
  • (C) Opportunity cost
  • (D) Differential cost

A

Admin • 833.24K Points
Coach

Q. What is a 'cost unit'?

  • (A) A division of a company
  • (B) A product or service for which cost is measured
  • (C) A standard budget
  • (D) A fixed expense

A

Admin • 833.24K Points
Coach

Q. Which of the following best describes 'absorption costing'?

  • (A) Only variable costs are considered
  • (B) Only direct costs are considered
  • (C) All costs are absorbed by units produced
  • (D) Only fixed costs are absorbed

A

Admin • 833.24K Points
Coach

Q. What is the cost of idle time due to machine breakdown?

  • (A) Direct cost
  • (B) Controllable cost
  • (C) Indirect cost
  • (D) Opportunity cost

A

Admin • 833.24K Points
Coach

Q. Which level is not used in inventory control?

  • (A) Reorder level
  • (B) Minimum level
  • (C) Maximum level
  • (D) Profit level

A

Admin • 833.24K Points
Coach

Q. In cost accounting, freight inward is considered part of:

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

Add MCQ in this Category

If you want to share an MCQ question in this category, it's a great idea! It will be helpful for many other students using this website.

Share Your MCQ

Browse Categories

Click on category to learn MCQs of that category.