Top 150+ Solved Cost and Works Accounting 1 MCQ Questions Answer
Q. Material, Labour and Expenses are the three important…………. of cost.
a. Methods
b. Elements
c. Techniques
d. Process
Q. ……………..cost is the cost of commodities supplied to an undertaking.
a. Material
b. Labour
c. Expenses
d. Cost
Q. Direct Labour Cost is also known as…………
a. Indirect Labour
b. Indirect Wages
c. Direct Wages
d. Debtors
Q. The expenses which cannot be directly identified with a particular unit or cost centre isknown as …………………...
a. Indirect Labour
b. Indirect material
c. Indirect expenses
d. Direct expenses
Q. ……………………..expenses are also called as chargeable expenses.
a. Partly direct and partly indirect
b. Indirect
c. Direct
d. None of the above
Q. The aggregate of indirect material, indirect labour and indirect expenses in termedas…………….
a. Material Cost
b. Overheads
c. Labour Cost
d. Closing Stock
Q. The overhead cost incurred from the stage of procurement of raw material till the stage ofproduction of finished goods is known as…… .
a. Office overheads
b. Factory overheads
c. Selling overheads
d. PRIME COST
Q. Office overheads are also known as …………….overheads.
a. Factory
b. Selling
c. Administrative
d. Work Cost
Q. The cost of activities relating to create and stimulate demand for company’s products and tosecure orders is known as……….overheads.
a. Administrative
b. Factory
c. Selling and Distribution
d. Office
Q. Non-cost items are those which are …………….. from the cost.
a. Excluded
b. Included
c. Partly included
d. none of the above
Q. Classification of cost into factory cost, administrative cost, selling & distribution cost andresearch and development cost is done on the basis of…………...
a. Elements
b. Functions
c. Time
d. Strategy
Q. The cost that remains unchanged in spite of change in volume of production is knownas………….
a. Fixed cost
b. Variable cost
c. Semi-variable cost
d. Direct Cost
Q. ……………….cost is partly variable and partly fixed.
a. Fixed cost
b. Semi-variable cost
c. Variable cost
d. Semi Fixed Cost
Q. ………………is a statement showing cost of production of a particular product.
a. Tender
b. Quotation
c. Cost sheet
d. Statements
Q. The total of works cost and administrative overheads is known as …
a. Prime cost
b. Cost of Production
c. Works cost
d. Direct Cost