Which of the following is not method of costing? a) Operating costing b) Unit Costing c) Composite Costing d) Marginal Costing - Accountancy class 0

Question- Which of the following is not method of costing? a) Operating costing b) Unit Costing c) Composite Costing d) Marginal Costing - Accountancy class 0 class 0 with solution questions answer. All ncert questions Answers for class 0 subject Accountancy chapter and topic Basics Of Cost And Cost Accounting MCQ

Which of the following is not method of costing? a) Operating costing b) Unit Costing c) Composite Costing d) Marginal Costing

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Which of the following is not method of costing? a) Operating costing b) Unit Costing c) Composite Costing d) Marginal Costing

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Question-1. Which of the following is method of costing:a) Job Costingb) Terminal Costingc) Operation Costingd) All of these

Question-2. Which of the following is not method of costing?a) Operating costingb) Unit Costingc) Composite Costingd) Marginal Costing

Question-3. Which of the following is technique of costinga) Standard Costingb) Uniform Costingc) Absorption Costingd) Process Costing

Question-4. ___________ is technique of ascertaining costa) Costingb) Cost Accountingc) Financial Accountingd) None

Question-5. ________is specialized branch of accounting which involves classification, Accumulation assignment & Control of Costa) Costingb) Cost Accountingc) Management Accountingd) Financial Accounting

Question-6. Which of the following are objectives of cost Accountinga) Classification of expenses to all productb) To indicate inefficiency of managementc) To provide data for decision makingd) All of these

Question-7. Statement I:- Costing is aid to managementStatement II:- Cost Accounting helps in Price fixation, in periods of depression & trade competitiona) Both statement are true & statement I is explanation of IIb) Both statement are True & statement II is explanation for Ic) Only statement I is trued) Only statement II is true

Question-8. Which of the following cost are pre-determined cost:a) Standard costb) Estimated costc) Historical costd) a & b

Question-9. Which of the following is not correct cause for treatment of selling & Distribution Cost as Period Cost:a) They are fixed in natureb) It is difficult to apportion them equallyc) Benefits received from these cost can not be established easily.d) None

Question-10. Which of the following are cost as per activitya) Material, Labour, expenseb) Fined, Variable & Semi-variablec) Production cost, Office costd) All of these.

Question-11. Where _________ product/s is/are produced, ascertaining the cost/unit becomes complicated.a) Single b) Multiplec) Both (a) and (b) d) None of these

Question-12. _______ is specialized branch of accounting which involves classification, accumulation, assignment & control of costs :a) Financial accounting b) Cost accountingc) Costing d) Cost accountancy

Question-13. Costing acts as an aid to:a) Creditors b) Employees c) National economyd) All of the above.

Question-14. Expenditure can be classified as capital or revenue in relation to its :a) Function b) Changes in activity c) Accounting periodd) Both b) & c)

Question-15. Direct material include all of the following except :a) Primary packing, b) Secondary packingc) Royalty d) Cost of layout

Question-16. ___________ costs result from special policy decision, new research & are not related to operations.a) Discretionary cost b) Step cost c) Committed costd) Sunk cost

Question-17. ________ costs are constant at a given level of output & then increase by a fixed amount at higher level of production.a) Discretionary cost b) Step costc) Committed cost d) Sunk Cost

Question-18. Costs which can be influenced by its budget holder are known as :a) Fixed costs b) Step costs c) Uncontrollable costsd) Controllable costs

Question-19. __________ cost is the one that has already been incurred & cannot be avoided by decisions taken in future. It has no economic relevance to the present decision making process. :a) Differential cost b) Sunk cost c) Opportunity costd) Joint cost.

Question-20. Differential cost is the increase or decrease in total cost resulting out of :a) Selection of additional sales channelb) Change in method of productionc) Addition or deletion of territory.d) All of the above.

Question-21. Differential cost denotes both increase or decrease, but ______ cost applies only to increase in production & is restricted to cost only.a) Decremental cost b) Step cost c) Sunk costd) Incremental cost

Question-22. __________ costs are the costs incurred upto the point of separation.a) Joint costs b) Shut down costs c) Decremental costsd) Disjoint costs.

Question-23. A cost which does not involve any cash flow is known as :a) Notional cost b) Imputed cost c) Implicit costd) All of the above.

Question-24. Which of the following is not an example of shut down cost ?a) Factory rent b) Insurance c) Direct materiald) Property tax.

Question-25. Abnormal costs are ultimately charged to __________a) P & L A/c b) Costing P & L c) Note recorded at alld) Suspense A/c.

Question-26. Haulage is an item of _____ overheads.a) Research & Developmentb) Selling & distributionc) Worksd) Office.

Question-27. _____ costs are non-inventorable costs, as they are not included in the value of finished stock.a) Semi fixed costs b) Variable costs c) Shut down costsd) Period costs.

Question-28. Per unit ______ costs remains same.a) Fixed b) Variable c) Both (a) and (b)d) None of these.

Question-29. All costs are _______ in long run.a) Variable b) Controllable c) Fixedd) Both (a) & (b)

Question-30. Management accounting is an extension of :a) Financial accountingb) Responsibility accounting,c) Cost accountingd) All of the above.

Question-31. In ______ stock is valued only at cost.a) Financial accountingb) Cost accountingc) Human resource accountingd) None of these

Question-32. Fixed cost per unit increases when –a) Production volume increasesb) Production volume decreasesc) Variable cost / unit decreasesd) Variable cost / unit increases.

Question-33. In element wise classification of overheads, which of the following is not included-a) Factory overheads b) Indirect labour c) Materiald) Indirect expenditure.

Question-34. The costing method in which fixed expenses are charged to product along with variable expenses is known as –a) Direct costing b) Marginal costing c) Absorption costingd) ABC.

Question-35. Advertising expenses, commission to salesman, depreciation on delivery van are examples of :a) Selling overheadsb) Distribution overheadsc) Both of the above.d) None of the above.

Question-36. Secondary packing expenses is an example of :a) Selling overheads b) Distribution overheads c) Both of the aboved) None of the above.

Question-37. Inspection charges which cannot be identified with a particular product should be treated asa) Research and development overheadsb) Selling overheadsc) Office and administrative overheadsd) Factory overheads.

Question-38. Primary packing necessary to protect a product should form part ofa) Selling overheadsb) Distribution overheadsc) Prime costd) None of the above.

Question-39. Cost of fancy packing necessary to attract customers would form part of :a) Selling overheadsb) Distribution overheadsc) Development overheadsd) Both a) and b)

Question-40. Per unit _______ overheads remain fixed.a) Fixed b) Factory c) Sellingd) Variable.

Question-41. Total fixed overheads would ________ as the production increases.a) Decrease b) Increase c) Remain fixedd) None of the above.

Question-42. Per unit fixed overheads would ______ as the productiona) Increase, increases b) Increase, Decreases c) Decrease, remains constantd) Decrease, decreases.

Question-43. Research and Development overheads is an example of classification based on:a) Function b) Element c) Behaviourd) Control

Question-44. Factory overheads are also known as : a) Works overheads b) Manufacturing overheadsc) Production overheadsd) All of the above.

Question-45. Warehouse expenses is an example of:a) Selling overheadsb) Admin overheadsc) Distribution overheadsd) Selling and distribution overheads

Question-46. Describe the cost unit applicable to the Bicycle industry _______.a) Per part of bicycle b) Per bicycle c) Per toned) Per day.

Question-47. Indirect costs are also known as _________.a) Common Costs b) Traceable Costs c) Implicit Costsd) Sunk Costs.

Question-48. Which of the following is method of costing

Question-49. Which of the following is not method of costing? a) Operating costing b) Unit Costing c) Composite Costing d) Marginal Costing

Question-50. Which of the following is technique of costing a) Standard Costing b) Uniform Costing c) Absorption Costing d) Process Costing

Question-51. . ___________ is technique of ascertaining cost a) Costing b) Cost Accounting c) Financial Accounting d) None

Question-52. ________is specialized branch of accounting which involves classification, Accumulationassignment & Control of Costa) Costingb) Cost Accountingc) Management Accountingd) Financial Accounting

Question-53. Which of the following are objectives of cost Accountinga) Classification of expenses to all productb) To indicate inefficiency of managementc) To provide data for decision makingd) All of these

Question-54. Statement I:- Costing is aid to managementStatement II:- Cost Accounting helps in Price fixation, in periods of depression & tradecompetitiona) Both statement are true & statement I is explanation of IIb) Both statement are True & statement II is explanation for Ic) Only statement I is trued) Only statement II is true

Question-55. Which of the following cost are pre-determined costa) Standard costb) Estimated costc) Historical costd) a & b

Question-56. Match the pairsa) Direct Material (p) Salary of Supervisorb) Indirect Material (q) Material passing from one process to otherc) Direct Labour (r) wages to workerd) Indirect expense (s) Grease

Question-57. 10. Which of the following is not correct cause for treatment of selling & Distribution Cost asPeriod Costa) They are fixed in natureb) It is difficult to apportion them equallyc) Benefits received from these cost can not be established easily.d) None

Question-58. Which of the following are cost as per activitya) Material, Labour, expenseb) Fined, Variable & Semi-variablec) Production cost, Office costd) All of these.

Question-59. 11. Which of the following are cost as per activitya) Material, Labour, expenseb) Fined, Variable & Semi-variablec) Production cost, Office costd) All of these.

Question-60. _______ is specialized branch of accounting which involves classification, accumulation,assignment & control of costs :a) Financial accounting c) Costingb) Cost accounting d) Cost accountancy.

Question-61. 14. Cost accounting does not help in making estimates :a) True b) False.

Question-62. Costing acts as an aid toa) Creditors c) National economyb) Employees d) All of the above.

Question-63. Expenditure can be classified as capital or revenue in relation to its :a) Function c) Accounting periodb) Changes in activity d) Both b) & c)

Question-64. Match the pairs : AB1. Degree of traceability to product (a) Material Labour, overheads2. Time(b) Admin, selling & distribution3. Functions(c) Direct, Indirect4. Elements (d) Historical, Pre-determined.

Question-65. Match the pairs :1. Degree of traceability to product a) Material Labour, overheads2. Time b) Admin, selling & distribution3. Functions c) Direct, Indirect4. Elements d) Historical, Pre-determinted. a) (1-a) (2-b) (3-c) (4-d)b) (1-c) (2-d), 3-a) (4-b)c) (1-b) (2-a) (3-d) (4-c)d) (1-c) (2-d) (3-b) (4-a)

Question-66. Direct material include all of the following except :a) Primary packing, c) Royaltyb) Secondary packing d) Cost of layout.

Question-67. ___________ costs result from special policy decision, new research & are not related tooperations.a) Discretionary cost c) Committed costb) Step cost d) Sunk cost.

Question-68. ________ costs are constant at a given level of output & then increase by a fixed amountat higher level of production.a) Discretionary cost c) Committed costb) Step cost d) Sunk Cost

Question-69. Costs which can be influenced by its budget holder are known as :a) Fixed costs c) Uncontrollable costsb) Step costs d) Controllable costs

Question-70. All indirect costs are controllable but, direct costs are not controllable.a) True b) False

Question-71. __________ cot is the one that has already been incurred & cannot be avoided bydecisions taken in future. It has no economic relevance to the present decision makingprocess. :a) Differential cost c) Opportunity costb) Sunk cost d) Joint cost.

Question-72. __________ cot is the one that has already been incurred & cannot be avoided bydecisions taken in future. It has no economic relevance to the present decision makingprocess. :a) Differential cost c) Opportunity costb) Sunk cost d) Joint cost.

Question-73. Differential cost is the increase or decrease in total cost resulting out of :a) Selection of additional sales channelb) Change in method of productionc) Addition or deletion of territory.d) All of the above.

Question-74. Differential cost denotes both increase or decrease, but ______ cost applies only toincrease in production & is restricted to cost only.a) Decremental cost c) Sunk costb) Step cost d) Incremental cost

Question-75. __________ costs are the costs incurred upto the point of separation.a) Joint costs c) Decremental costsb) Shut down costs d) Disjoint costs.

Question-76. A cost which does not involve any cash flow is known as :a) Notional cost c) Implicit costb) Imputed cost d) All of the above.

Question-77. 28. Which of the following is not an example of shut down cost ?a) Factory rent c) Direct materialb) Insurance d) Property tax.

Question-78. Abnormal costs are ultimately charged to __________a) P & L A/c c) Note recorded at allb) Costing P & L d) Suspense A/c.

Question-79. Match the pairs :1. Productive cost center a. Library2. Unproductive cost center b. Repairs & Maintenance3. Personal cost center c. Welding shop4. Impersonal cost center d. Accountanta) (1-b) (2-a) (3-d) (4-c)b) (1-a) (2-c) (3-d) (4-b)c) (1-c) (2-b) (3-d) (4-a)d) (1-a) (2-b) (3-c) (4-d)

Question-80. Match the pairs.1. Fabrication a) Batch costing2. Dams b) Job costing3. Medicines c) Contract costing4. Chemicals d) Process costing.a) (1-b)(2-c)(3-a)(4-d)b) (1-a)(2-b)(3-c)(4-d)c) (1-c)(2-a)(3-d)(4-b)d) (1-d)(2-c)(3-a)(4-b)

Question-81. Haulage is an item of _____ overheads.a) Research & Developmentb) Selling & distributionc) Worksd) Office.

Question-82. _____ costs are non-inventorable costs, as they are not included in the value of finishedstock.a) Semi fixed costs c) Shut down costsb) Variable costs d) Period costs.

Question-83. Out of pocket costs have no relevance in decision making :a) True b) False.

Question-84. Per unit ______ costs remains same.a) Fixed c) Both a) and b)b) Variable d) None of these.

Question-85. All costs are _______ in long run,a) Variable c) Fixedb) Controllable d) Both a) & b)

Question-86. Management accounting is an extension of :a) Financial accountingb) Responsibility accounting,c) Cost accountingd) All of the above.

Question-87. A responsibility center in which a manager is accountable for costs only is called___________.a) Profit center c) Cost center

Question-88. In ______ stock is valued only at cost :a) Financial accountingb) Cost accountingc) Human resource accountingd) None of these.b) Loss Centre d) Both a) & c)

Question-89. Fixed cost per unit increases when –a) Production volume increasesb) Production volume decreasesc) Variable cost / unit decreasesd) Variable cost / unit increases.

Question-90. In element wise classification of overheads, which of the following is not included-a) Factory overheads c) Materialb) Indirect labour d) Indirect expenditure.

Question-91. The costing method in which fixed expenses are charged to product along with variableexpenses is known as –a) Direct costing, c) Absorption costingb) Marginal costing d) ABC.

Question-92. Advertising expenses, commission to salesman, depreciation on delivery van areexamples of :a) Selling overheadsb) Distribution overheadsc) Both of the above.d) None of the above.

Question-93. Secondary packing expenses is an example of :a) Selling overheads c) Both of the aboveb) Distribution overheads d) None of the above.

Question-94. Secondary packing expenses is an example of :a) Selling overheads c) Both of the aboveb) Distribution overheads d) None of the above.

Question-95. Inspection charges which cannot be identified with a particular product should betreated asa) Research and development overheadsb) Selling overheads

Question-96. Primary packing necessary to protect a product should form part ofa) Selling overheadsb) Distribution overheadsc) Prime costd) None of the above.

Question-97. Cost of fancy packing necessary to attract customers would form part of :a) Selling overheadsb) Distribution overheadsc) Development overheadsd) Both a) and b)

Question-98. Per unit _______ overheads remain fixed.a) Fixed c) Sellingb) Factory d) Variable.

Question-99. Total fixed overheads would ________ as the production increases.a) Decrease c) Remain fixedb) Increase d) None of the above.

Question-100. Per unit fixed overheads would ______ as the productiona) Increase, increases c) Decrease, remains constantb) Increase, Decreases d) Decrease, decreases.

Which of the following is not method of costing? a) Operating costing b) Unit Costing c) Composite Costing d) Marginal Costing - Accountancy class 0

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Which of the following is not method of costing? a) Operating costing b) Unit Costing c) Composite Costing d) Marginal Costing - Accountancy class 0

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