Cost Accounting MCQs with answers Page - 4

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. In cost accounting, 'shrinkage' refers to:

  • (A) Increase in raw materials
  • (B) Normal loss of stock
  • (C) Profit margin
  • (D) Increase in selling cost

A

Admin • 802.91K Points
Coach

Q. Break-even point is the level where:

  • (A) Total cost equals total revenue
  • (B) Only fixed cost is recovered
  • (C) Profit starts to fall
  • (D) Total variable cost equals total fixed cost

A

Admin • 802.91K Points
Coach

Q. Which of the following is not a technique of costing?

  • (A) Marginal Costing
  • (B) Standard Costing
  • (C) Uniform Costing
  • (D) Contract Costing

A

Admin • 802.91K Points
Coach

Q. Idle time wages are treated as:

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

A

Admin • 802.91K Points
Coach

Q. Bin card is maintained by the:

  • (A) Cost accountant
  • (B) Storekeeper
  • (C) Production manager
  • (D) Auditor

A

Admin • 802.91K Points
Coach

Q. A budget prepared for a particular level of activity is called:

  • (A) Flexible budget
  • (B) Zero-based budget
  • (C) Fixed budget
  • (D) Cash budget

A

Admin • 802.91K Points
Coach

Q. ABC Analysis is used in:

  • (A) Labour cost control
  • (B) Overhead control
  • (C) Inventory control
  • (D) Process costing

A

Admin • 802.91K Points
Coach

Q. CAS stands for:

  • (A) Cost Accounting System
  • (B) Cost Audit Standards
  • (C) Cost Accounting Standards
  • (D) Cost Allocation Sheet

A

Admin • 802.91K Points
Coach

Q. In marginal costing, contribution is equal to:

  • (A) Sales – Fixed Cost
  • (B) Sales – Variable Cost
  • (C) Profit + Fixed Cost
  • (D) Variable Cost – Fixed Cost

A

Admin • 802.91K Points
Coach

Q. Opportunity cost is:

  • (A) The cost of idle resources
  • (B) The cost of best alternative foregone
  • (C) Unavoidable fixed cost
  • (D) Future uncertain cost

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