Cost Accounting

Q1. What is the other term for direct expenses?

Sundry expenses

Chargeable expenses

Overhead expenses

Major expenses

Q2. One of the following options is not included under cost accounting:

Product controlling

Costing of products

Profit sharing

Product sharing

Q3. In how many ways can one attempt cost classification?

4

3

2

Numerous ways

Q4. What is process costing suitable for?

Oil refining companies

Brick and sand companies

Transportation companies

IT companies

Q5. What is the total of all direct costs called?

Total cost

Cost of sales

Cost of production

Prime cost

Q6. How can I define overtime in cost accounting?

Actual hours being way more than standard time.

Actual hours less than standard house

Extension of actual hours beyond the standard timing

Extension of actual hours beyond the normal timing

Q7. What is the basic objective of cost accounting?

Cost ascertainment

Profit analysis

Tax compliance

Financial audit

Q8. What is a tender?

Estimation of profit and loss

The estimation of costs

Estimation of selling price

Estimation of units

Q9. What is time keeping in cost accounting?

Time spent by workers on any job

Time spent their workers with or without any job

Time spent by workers without any job

Time spent by workers in the factory

Q10. What are the indirect production resources called?

Distribution overhead

Selling overhead

Factory overhead

Office overhead

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