Top 150+ Solved Cost and Management Accounting (CMA) MCQ Questions Answer
Q. Each job has a ..................... prepared for it that bears the job number andwhich is used to collect all cost data relating to job.
a. job time sheet
b. job cost card
c. job ticket
d. job account
Q. An automobile service unit uses..........................costing.
a. specific order
b. batch
c. job
d. contract
Q. Economic Batch Quantity is an important point to be determined inindustries where...................... costing is employed.
a. job
b. batch
c. operation
d. output
Q. Economic Batch Quantity depends on...........................and…………..costs.
a. material, labour
b. set-up costs, carrying
c. transportation, carrying
d. warehousing, labour
Q. The .....................costing is applied when a quantity of similar and identicalproducts are manufactured together as one Job.
a. job
b. batch
c. operation
d. output
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.
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.
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
Q. Contract costing is not used in one of the following industries.
a. ship building
b. civil construction
c. automobiles
d. construction of bridges
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.
Q. ….is the most suitable method in a transport industry.
a. operation costing
b. service costing
c. process costing
d. job costing
Q. Maintenance charges are in the nature of..............................expenses.
a. fixed
b. variable
c. semi-variable
d. none of these
Q. In transport costing...........................charges vary more or less in directproportion to kilometers run.
a. running
b. petrol
c. drivers salary
d. tax