Sunday , November 29 2020

Cost Accounting MCQs with Answers – Quiz # 1

Cost Accounting MCQs with Answers – Quiz # 1

All these MCQs are collected and gathered from different Books and different past papers and Books to help you to pass the  Exam.

You can also take a quiz related to SAP, SAP HANA, CA AFC students, Educators, NTS, FPSC, PPSC Exams, and different Computer and IT related Tests. It is also beneficial for Accountant and Finance manager Posts covering IT-related test portions.

Cost Accounting MCQs with Answers – Quiz # 1

  • This Quiz is related to HTML5 ( Based on different books & past papers) – Quiz # 1 in this series
  • The Quiz based on the Topic, “Cost Accounting ( Based on different books & past papers) – Quiz # 1  “
  • If you have a good understanding of the subject, then you can attempt it
  • There will be 10 Multiple Choice Questions (MCQs) in this test
  • You have 60 seconds to answer a single Multiple Choice Question
  • Questions will be randomly changed every time you start this test
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  • Passing Criteria is 60 percent for this Quiz
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The technique or process of ascertaining cost is termed as

Correct! Wrong!

In ……….. stocks are valued at cost or market price which ever is less

Correct! Wrong!

The art of recording, classifying , summarizing the business transactions and interpretation of results thereof is called

Correct! Wrong!

………..costing is used in transport undertakings

Correct! Wrong!

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Branch(s) of accounting is/are

Correct! Wrong!

Planning, Decision making and control are three important functions of the management and ________ is helpful in performing these all functions

Correct! Wrong!

___________ provides information to business managers and also to outside parties including shareholders, suppliers, public, customers, and Government departments

Correct! Wrong!

_________ lays emphasis on the recording aspect without attaching any importance to control

Correct! Wrong!

The expired cost is called

Correct! Wrong!

_________ lays emphasis on the recording aspect without attaching any importance to control

Correct! Wrong!

_________ shows only overall performance of a business and does not help in providing performance appraisal, proper classification of cost, Price fixation & cost control system

Correct! Wrong!

The term “Costing” and “cost Accounting” are often use

Correct! Wrong!

The method of costing used in a refinery is/are

Correct! Wrong!

Cost accounting is

Correct! Wrong!

The presentation of accounting information for policy or decision making in day to day operation of an undertaking

Correct! Wrong!

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