Top 150+ Solved Cost and Management Accounting (CMA) MCQ Questions Answer
Q. …………is not the scope ofCost Accountancy.
a. ascertaining cost
b. cost accounting
c. cost control
d. tax planning
Q. Cost Accounting has been developed becauseof….........................ofFinancial Accounting.
a. limitations
b. advantages
c. both a & b
d. none of these
Q. Cost Accountancy is the science, art and ……………….of a costaccountant.
a. practice
b. exercise
c. hard work
d. effort
Q. The ordinary trading account is a locked storehouse of most valuableinformation to which cost system is the……………….
a. key
b. lock
c. house
d. none of these
Q. Cost accounts deal partly with facts and figures and partly with………
a. estimates
b. costs
c. income
d. revenue
Q. Cost accounting provides data for managerial…………….
a. decision making
b. recruitment
c. retrenchment
d. none of the above.
Q. Cost accounting is based on…......................figures.
a. estimated
b. historical
c. actual
d. none of these.
Q. Cost accounting provides detailed information about .................................ofvarious products, processes, services and operations.
a. costs
b. income
c. either a or b
d. none of these.
Q. Cost accounting records both monetary and.......................units.
a. physical
b. cost
c. both a & b
d. none of these.
Q. The method of costing used in a refinery is… .................. costing.
a. process
b. batch
c. multiple
d. job
Q. The total variable cost.......................................in total proportion to output.
a. increases
b. does not increase
c. decreases
d. none of these.
Q. Sunk costs are.............................for decision-making
a. irrelevant
b. relevant
c. useful
d. none of these.
Q. Costing and cost accounting are …………...
a. not the same
b. one and the same
c. not related at all
d. none of these.