Top 50+ Solved Basics of Cost Accounting MCQ Questions Answer
Q. Cost accounting is based on……………..figures.
a. Approximated
b. Estimated
c. Historical
d. Either (a) or (c)
Q. In………………costing the cost of a group of products is ascertained.
a. Process
b. Job
c. Batch
d. Service
Q. The total of all direct expenses is known as ………
a. Total cost
b. Overhead
c. Prime cost
d. Work cost
Q. An opportunity cost is a………..
a. Direct expense
b. Indirect expense
c. Variable expense
d. Fixed expense
Q. The term………… is the one which is identifiable as belonging exclusively to a particularprocess, product, and unit.
a. Direct Cost
b. Indirect Cost
c. Standard Cost
d. none
Q. Every……………of cost is divided into direct cost and indirect cost.
a. Factor
b. Element
c. Part
d. none
Q. Direct …………….are those which can be identified in the product and can be measured.
a. Expenses
b. Labour
c. Material
d. none
Q. The cost of direct material is termed as…………..
a. Direct labour cost
b. Direct material cost
c. Overheads
d. none
Q. All workers who are directly engaged in manufacturing activity are known as……………labour.
a. Direct
b. Indirect
c. Contract
d. none
Q. Wages paid to direct workers are known as ………….
a. Direct labour cost
b. Indirect labour cost
c. Direct material cost
d. none
Q. Wages paid to direct labour are also known as………………wages.
a. Productive
b. Compensative
c. Indirect
d. none
Q. Wages paid to carpenter is the example of direct…………...
a. Material
b. Overheads
c. Labour
d. none
Q. Cost of leather used in shoe making is the example of direct………….
a. Overheads
b. Labour
c. Material
d. none
Q. The ………………include all types of expenses other than direct materials and direct labourwhich are incurred for a particular product or job.
a. Direct labour
b. Direct expenses
c. Direct material
d. none