Commerce · all questions

Costing
practice.

Practice every MCQ with options. Use Show answers when you want the correct option and solution.

1,309

Questions

48/66

Page

Pick an option on a question to see the right answer and solution.

Q941

While calculating gross profit, if net profit is given, then,

Select an option to see the answer and solution.

Q942

Match the following.

List-I (Variances)	List-II (Causes)
a. Overhead efficiency variance	1. Power failure
b. Overhead volume variance	2. Appointing low grade employees
c. Labour idle time variance	3. Poor working condition
d. Labour efficiency variance	4. Working days being more or less than budgeted

Select an option to see the answer and solution.

Q943

. . . . . . . . is the assessment of the relative worth of jobs within a company whereas . . . . . . . . is the assessment of the relative worth of man behind the job.

Select an option to see the answer and solution.

Q944

What is Economic Order Quantity?

Select an option to see the answer and solution.

Q945

An estimated price, which is expected to be paid by customers for particular market offering is classified as

Select an option to see the answer and solution.

Q946

Cost which are recorded in the books after expenditure is incurred but before profit is realized

Select an option to see the answer and solution.

Q947

Which of the following expenditure groups are direct expenses of the business?

Select an option to see the answer and solution.

Q948

In marginal costing, contribution is equal to

Select an option to see the answer and solution.

Q949

Match the items of List-I with those of List-II.

List-I	List-II
a. Acid test ratio	1. Profitability analysis
b. Debt service coverage ratio	2. Activity analysis
c. Debt equity ratio	3. Liquidity analysis
d. Stock turnover ratio	4. Long-term solvency analysis

Select an option to see the answer and solution.

Q950

. . . . . . . . expenses are excluded from cost.

Select an option to see the answer and solution.

Q951

Given below are two statement. one labelled as Assertion (A) and other as Reason (R):
Assertion (A): Cost accounting is complementary to financial accounting.
Reason (R): The result of cost accounting are not trustworthy.
Choose the correct answer

Select an option to see the answer and solution.

Q952

Product A requires 10 kg of material at the rate of Rs. 5 per kg. The actual consumption of material for the manufacturing of product A comes to 12 kg of material at the rate of Rs. 6 per kg. Direct material cost variance is

Select an option to see the answer and solution.

Q953

Cash budget is based on

Select an option to see the answer and solution.

Q954

In an activity based costing implementation, product's diverse demand is based on

Select an option to see the answer and solution.

Q955

Which of the following statements is correct in regards to Kaijen costing?
1. It is a system of cost reduction.
2. It is a system of continuous improvement without negative effects on the quality, staff and security.
Select the correct answer:

Select an option to see the answer and solution.

Q956

Match the following.

List-I	List-II
a. Variable costing	1. Absorption costing
b. Valuation of stock is higher	2. Fixed cost is excluded from inventory valuation
c. Marginal and differential costs are same	3. Marginal costing
d. Marginal costing	4. No change in fixed cost

Select an option to see the answer and solution.

Q957

Standard costs is . . . . . . . .

Select an option to see the answer and solution.

Q958

Marginal cost is a:

Select an option to see the answer and solution.

Q959

The cost of . . . . . . . . process loss is absorbed in the cost of production of good units.

Select an option to see the answer and solution.

Q960

Match the following.

List-I	List-II
a. Earning ability of firm	1. Basis of accounting
b. Conservatism	2. P/V ratio
c. Cash profit	3. Cash flow statement
d. Cash and accrual	4. Prudence

Select an option to see the answer and solution.

Prev 46 47 48 49 50 Next