Accounting MCQs with answers Page - 36

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

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A

Admin • 802.91K Points
Coach

Q. Which costing method is used in oil refining industries?

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

A

Admin • 802.91K Points
Coach

Q. Selling and distribution expenses are part of:

  • (A) Factory cost
  • (B) Cost of production
  • (C) Total cost
  • (D) Prime cost

A

Admin • 802.91K Points
Coach

Q. A cost that is not affected by managerial decisions is called:

  • (A) Controllable cost
  • (B) Uncontrollable cost
  • (C) Variable cost
  • (D) Direct cost

A

Admin • 802.91K Points
Coach

Q. Which statement best describes standard costing?

  • (A) It records actual costs only
  • (B) It ignores overhead costs
  • (C) It is used for cost comparison and variance analysis
  • (D) It is not used in modern businesses

A

Admin • 802.91K Points
Coach

Q. Cost of production does NOT include:

  • (A) Direct materials
  • (B) Factory overheads
  • (C) Selling overheads
  • (D) Direct wages

A

Admin • 802.91K Points
Coach

Q. Which method is used to evaluate labor efficiency?

  • (A) Idle time analysis
  • (B) Time rate system
  • (C) Standard time vs actual time comparison
  • (D) Cost sheet analysis

A

Admin • 802.91K Points
Coach

Q. Which of the following is not shown in a cost sheet?

  • (A) Prime cost
  • (B) Cost of production
  • (C) Profit margin
  • (D) Selling price

A

Admin • 802.91K Points
Coach

Q. In job costing, cost is collected by:

  • (A) Departments
  • (B) Processes
  • (C) Jobs or orders
  • (D) Periods

A

Admin • 802.91K Points
Coach

Q. CAS-6 deals with:

  • (A) Material cost
  • (B) Labour cost
  • (C) Overheads
  • (D) Administrative cost

A

Admin • 802.91K Points
Coach

Q. A cost which changes in total with production volume but remains same per unit is:

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

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