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Cost Accounting

Cost Accounting

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Q1. One of the following options is not included under cost accounting:
1. Product sharing
2. Product controlling
3. Costing of products
4. Profit sharing
Q2. What is the basic objective of cost accounting?
1. Profit analysis
2. Cost ascertainment
3. Financial audit
4. Tax compliance
Q3. How can I define overtime in cost accounting?
1. Extension of actual hours beyond the normal timing
2. Actual hours less than standard house
3. Extension of actual hours beyond the standard timing
4. Actual hours being way more than standard time.
Q4. What is the other term for direct expenses?
1. Sundry expenses
2. Chargeable expenses
3. Major expenses
4. Overhead expenses
Q5. What is process costing suitable for?
1. Transportation companies
2. IT companies
3. Brick and sand companies
4. Oil refining companies
Q6. What are the indirect production resources called?
1. Distribution overhead
2. Factory overhead
3. Selling overhead
4. Office overhead
Q7. What is a tender?
1. Estimation of selling price
2. The estimation of costs
3. Estimation of units
4. Estimation of profit and loss
Q8. In how many ways can one attempt cost classification?
1. 4
2. 2
3. 3
4. Numerous ways
Q9. What is the total of all direct costs called?
1. Cost of sales
2. Total cost
3. Cost of production
4. Prime cost
Q10. What is time keeping in cost accounting?
1. Time spent their workers with or without any job
2. Time spent by workers in the factory
3. Time spent by workers on any job
4. Time spent by workers without any job

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Advanced Diploma in Financial Accounting

4.4 (20)

₹4,720 ₹12,800

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