Cost Accounting MCQs with answers Page - 1

You will find multiple-choice questions (MCQs) related to #Cost Accounting here. Go through these questions to prepare effectively for your upcoming exams and interviews.

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A

Admin • 802.91K Points
Coach

Q. Which of the following is not a cost classification?

  • (A) Fixed Cost
  • (B) Variable Cost
  • (C) Direct Cost
  • (D) Revenue Cost

A

Admin • 802.91K Points
Coach

Q. Prime cost includes:

  • (A) Direct material + Direct wages
  • (B) Indirect material + Direct expenses
  • (C) Direct material + Direct wages + Direct expenses
  • (D) Factory cost + Office overheads

A

Admin • 802.91K Points
Coach

Q. Overheads are classified into how many categories?

  • (A) Two
  • (B) Three
  • (C) Four
  • (D) Five

A

Admin • 802.91K Points
Coach

Q. Which of the following is a fixed cost?

  • (A) Direct materials
  • (B) Electricity charges
  • (C) Factory rent
  • (D) Packing cost

A

Admin • 802.91K Points
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Q. Cost incurred on advertising is a type of:

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

A

Admin • 802.91K Points
Coach

Q. Which of the following is not a direct cost?

  • (A) Direct wages
  • (B) Direct materials
  • (C) Factory rent
  • (D) Direct expenses

A

Admin • 802.91K Points
Coach

Q. The main objective of cost accounting is to:

  • (A) Determine income tax
  • (B) Provide financial statements
  • (C) Ascertain cost of products
  • (D) Determine profit

A

Admin • 802.91K Points
Coach

Q. Which method is suitable for industries manufacturing bricks or cement?

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

A

Admin • 802.91K Points
Coach

Q. Abnormal loss is transferred to:

  • (A) Costing Profit & Loss A/c
  • (B) Factory overhead A/c
  • (C) Work-in-progress A/c
  • (D) Finished goods A/c

A

Admin • 802.91K Points
Coach

Q. In job costing, each job is treated as:

  • (A) Cost center
  • (B) Profit center
  • (C) Batch
  • (D) Process

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