Top 150+ Solved Cost and Management Accounting (CMA) MCQ Questions Answer

From 136 to 150 of 187

Q. An automobile service unit uses..........................costing.

a. specific order

b. batch

c. job

d. contract

  • c. job

Q. Economic Batch Quantity depends on...........................and…………..costs.

a. material, labour

b. set-up costs, carrying

c. transportation, carrying

d. warehousing, labour

  • b. set-up costs, carrying

Q. The loss incurred on an incomplete contract is transferred to………….account.

a. costing profit and loss account

b. profit and loss account

c. trading account

d. deferred to next year.

  • b. profit and loss account

Q. When the completion stage of the contract is more than half, the profitto be credited to Profit and Loss account will be equal to…………..

a. 1/3rd of notional profit x cash received work certified

b. ½ of notional profit x cash received work certified

c. 2/3rd of notional profit x cash received work certified

d. full notional profit.

  • c. 2/3rd of notional profit x cash received work certified

Q. When the completion stage of a contract is less than ¼, the totalexpenditure on the contract is transferred to...............................account.

a. work-in-progress

b. profit and loss account

c. miscellaneous account

d. none of these

  • a. work-in-progress

Q. Contract costing is not used in one of the following industries.

a. ship building

b. civil construction

c. automobiles

d. construction of bridges

  • c. automobiles

Q. The sum of value of work certified and uncertified appearing in theContract Account is called ……………..

a. work in progress

b. work in process

c. work completed

d. work done.

  • a. work in progress

Q. ….is the most suitable method in a transport industry.

a. operation costing

b. service costing

c. process costing

d. job costing

  • b. service costing

Q. Room/day is the cost unit used in…………………

a. hotels

b. hospital

c. schools

d. none of these

  • a. hotels

Q. Maintenance charges are in the nature of..............................expenses.

a. fixed

b. variable

c. semi-variable

d. none of these

  • c. semi-variable
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