Preview (20 questions)
1 Question
30 secunde în urmă
Q.

Cost accounting is the reporting and analysis of a ______ structure in a company.


Cost

Profit

Loss

2 Question
30 secunde în urmă
Q.

Cost accounting helps in determining only the profit of the company.


True

False

3 Question
30 secunde în urmă
Q.

Which of the following is the basic objective of cost accounting?


Tax compliance

Cost ascertainment

Profit analysis

4 Question
30 secunde în urmă
Q.

Overhead cost is the total of all the ______ costs.


Direct

Indirect

5 Question
30 secunde în urmă
Q.

Cost accounting was developed because of the limitations of the ________.


Financial accounting

Double entry accounting

Human resource accounting

6 Question
30 secunde în urmă
Q.

________ is a technique of using two or more costing methods for ascertainment of cost by the same firm.


Money costing

Accounting management

Multiple costing

7 Question
30 secunde în urmă
Q.

Wages paid to labor who engaged in production activities are termed as _______ cost.


Imputed

Direct

Indirect

8 Question
30 secunde în urmă
Q.

Cost accounting does not show the current stature of the company.


True

False

9 Question
30 secunde în urmă
Q.

Classification of cost is useful in identifying _________.


Gross profit

Costs

Efficiency

10 Question
30 secunde în urmă
Q.

If Cost accounting gets deviated, the chances of fraud can be detected.


True

False

11 Question
30 secunde în urmă
Q.

Contract costing or Terminal costing is a variant of __________ Costing.


Job

Process

Unit

12 Question
30 secunde în urmă
Q.

The cost of the product as determined under the standard cost system is ________ cost.


Fixed

Historical

Predetermined

13 Question
30 secunde în urmă
Q.

Selling and distribution expenses can be charged under __________ cost.


Prime

Material

Labour

14 Question
30 secunde în urmă
Q.

Fixed assets ratio is a __________ solvency ratio. 


Short-term

Long-term

15 Question
30 secunde în urmă
Q.

This ratio measures the profit concerning capital employed.


Return on investment

Gross profit ratio

Operating ratio

16 Question
30 secunde în urmă
Q.

Over absorption of overheads in Costing will affect Profit as per ________.


Less profit in Cost Account

More Profit in Financial Account

Both

17 Question
30 secunde în urmă
Q.

Interest on overdraft is less than net profit as per __________.


Cost account

Financial account

18 Question
30 secunde în urmă
Q.

Notional Cost decreases __________profit.


Costing

Financial

Both

19 Question
30 secunde în urmă
Q.

The wage sheet is prepared by the Cost accounting department.


True

False

20 Question
30 secunde în urmă
Q.

Is cost accounting a profession?


Yes, of course

No, it's a part of financial accounting