Top 150+ Solved Cost and Management Accounting MCQ Questions Answer
Q. EOQ stands for .
a. Economic Order Quantity.
b. Essential Order Quantity.
c. Economic Output Quantity.
d. Essential Output Quantity.
Q. The document which is prepared after receiving and inspecting material .
a. material record note.
b. goods received note.
c. bill of material.
d. inventory recor
Q. The budget which reviews a programme or project from ‘scratch’ is
a. Master budget.
b. Flexible budget.
c. Zero base budgeting.
d. Fixed budget.
Q. The budget said as ‘resource planning’ and ‘redeployment process’ is .
a. Zero base budgeting.
b. Master budget.
c. Flexible budget.
d. Fixed budget.
Q. Expected sales + desired closing stock – estimated opening stock = .
a. Expected production.
b. Expected sales.
c. Expected purchase.
d. Expected loss.
Q. In production budget closing stock is added with .
a. expense.
b. sales.
c. purchase.
d. material.
Q. In production budget opening stock is deducted with .
a. expense.
b. sales.
c. purchase.
d. material.
Q. Material consumed is Rs. 5,00,000 Opening stock of raw material is Rs. 50,000 and Closing stock of raw material is Rs. 25,000. What is the cost of raw material purchased?
a. Rs. 4,50,000.
b. Rs. 4,75,000.
c. Rs. 5,25,000.
d. Rs. 5, 50,000.
Q. If selling price is Rs. 25,000 and profit is Rs. 5,000 then what is the percentage of profit on cast?
a. 20%.
b. 25%.
c. 33.33%.
d. 35%.
Q. Material control involves .
a. consumption of material
b. issue of material.
c. purchase of material.
d. purchase, storage and issue of material.
Q. Material requisition is meant for .
a. purchase of material.
b. supply of material from stores.
c. sale of material.
d. storage of material.
Q. Stock control through stock levels and EOQ is called .
a. demand and supply method.
b. perpetual inventory system.
c. control by important and exception.
d. automatic order metho