Accounting MCQs with answers Page - 35

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A

Admin • 802.91K Points
Coach

Q. CAS-4 relates to:

  • (A) Direct material cost
  • (B) Overhead cost
  • (C) Cost of production for captive consumption
  • (D) Depreciation

A

Admin • 802.91K Points
Coach

Q. The term 'relevant cost' is associated with:

  • (A) Future costs that influence decisions
  • (B) Past costs that cannot be changed
  • (C) Fixed overheads
  • (D) Indirect expenses

A

Admin • 802.91K Points
Coach

Q. The wage paid for actual time spent on production is known as:

  • (A) Bonus wage
  • (B) Idle time wage
  • (C) Direct wage
  • (D) Indirect wage

A

Admin • 802.91K Points
Coach

Q. CAS-2 deals with:

  • (A) Capacity determination
  • (B) Material cost
  • (C) Administrative overhead
  • (D) Labour cost

A

Admin • 802.91K Points
Coach

Q. Under which costing method are costs collected by time period?

  • (A) Job costing
  • (B) Batch costing
  • (C) Process costing
  • (D) Operating costing

A

Admin • 802.91K Points
Coach

Q. Which cost varies with production but not in direct proportion?

  • (A) Fixed cost
  • (B) Semi-variable cost
  • (C) Sunk cost
  • (D) Direct cost

A

Admin • 802.91K Points
Coach

Q. The cost that can be traced directly to a unit of production is:

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

A

Admin • 802.91K Points
Coach

Q. Which document is used to authorize the issue of materials from the store?

  • (A) Purchase Requisition
  • (B) Material Requisition Note
  • (C) Bin Card
  • (D) Stores Ledger

A

Admin • 802.91K Points
Coach

Q. In marginal costing, fixed costs are treated as:

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

A

Admin • 802.91K Points
Coach

Q. What is a 'cost object'?

  • (A) A financial transaction
  • (B) Anything for which cost data is desired
  • (C) A physical inventory
  • (D) An income-generating asset

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