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Cost Accounting

Cost Accounting

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

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Advanced Diploma in Financial Accounting

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₹4,720 ₹15,104

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