cost accounting mcqs for all competitive exams
Most expected cost accounting mcqs for all competitive exams
Q1:- ___________ is the value of a benefit where no actual cost is incurred:-
- Imputed cost
- Sunk cost
- Out-of-pocket
- None of the above
Ans:- Imputed
Q2:- ———— is the cost which involves payment to outsiders:-
- Out of pocket cost
- Notional cost
- Imputed cost
- None of the above
Ans:- Out of pocket cost
Q3:- _______ is the maximum possible alternative earning that might have been and if the productive capacity is put to some alternative use:-
- Opportunity
- Incremental revenue
- Alternative revenue
- None of the above
Ans:- opportunity
Q4:- An item of cost that is direct for one business may be ________ for another business:-
- Important
- Indirect
- Direct
- None of the above
Ans:- Indirect
Q5:- The total of all direct expenses is known as cost:-
- Prime
- Works
- Production
- None of the above
Ans;- Prime
Q6:- ———– cost are partially fixed and partially variable in relation to output :-
- Variable
- Fixed
- Semi variable
- None of the above
Ans:- Semi variable
Q7:- An opportunity cost is ——————- :-
- The cost
- The income
- The advantage foregone
- None of the above
Ans:- The advantage foregone
Q8;- work cost is a total of ———– :-
- Indirect material , indirect labour
- Direct material , Direct labour
- Direct material , Direct labour , direct or chargeable expenses and works expenses
- None of the above
Ans:-Direct material , Direct labour , direct or chargeable expenses and works expenses
Q9:- An opportunity cost does not involve :-
- cash outlays
- Direct cost
- Indirect cost
- None of the above
Ans:- Cash outlays
Q10:- Variable cost changes ———– with change in output :-
- Proportionately
- Inversely
- sometimes
- None of the above
Ans:- Proportionately
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