Top 50+ Solved Basics of Cost Accounting MCQ Questions Answer
Q. …………………helps the management to eliminate inefficiencies caused by materialwastage, use of obsolete machinery, improper planning etc.
a. Financial Accounting
b. Cost Accounting
c. Environmental Accounting
d. Management control
Q. ……………….covers accounts of whole business relating to all commercial transactions.
a. Cost Accounting
b. Financial Accounting
c. Environmental Accounting
d. Reduction of cost
Q. A unit of quantity of product, service or time, in relation to which cost may be ascertainedor expressed is known as .
a. Cost Centre
b. Cost Sheet
c. Cost Unit
d. none
Q. A location, person or item of equipment for which costs may be ascertained and used forthe purposes of cost control is known as .
a. Cost Centre
b. Cost Sheet
c. Cost Unit
d. both (a) and (b)
Q. The cost unit for the Gas Industry is…………….
a. Per gallon
b. Per tonne
c. Cubic Meter
d. Calculation of cost
Q. Costing is a technique of……….
a. Inventory control
b. Management control
c. Ascertainment of cost
d. Calculation of cost
Q. Cost accounting has been developed because of………………financial accounting.
a. Limitations
b. Expenditure
c. Statutory requirements
d. both (a) and (b)
Q. Cost accountancy is the science, art and of cost accountant.
a. Profession
b. Management
c. Administration
d. Practice
Q. In automobile industry cost unit is…………
a. Number
b. Automobile quality
c. Number of automobile industry
d. Either (a) or (c)
Q. Cost unit in a college may be…………
a. teacher
b. Non teacher staff
c. Student
d. Number of departments
Q. costing is suitable for mines, quarries, cement works etc.
a. Process
b. Contract
c. Batch
d. Operation
Q. …………is an extension of job costing.
a. Process costing
b. Batch costing
c. Contract costing
d. Operation costing
Q. When job is very big and spread over long periods of time the method of costing adoptedis……
a. Process
b. Job
c. Contract
d. Operation
Q. Continuous costing is also called
a. Operation costing
b. Process costing
c. Batch costing
d. Contract costing