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Old May 10th, 2016, 05:32 PM
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Default MCQ Mahatma Gandhi University

Hello buddy I am student of the Bcom - semester v at Mahatma Gandhi University now I require the Multiple choice questions of cost accounting will you please provide me the same ??
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Old May 10th, 2016, 05:32 PM
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Join Date: Mar 2012
Posts: 152,265
Default Re: MCQ Mahatma Gandhi University

Mahatma Gandhi University which founded on 2 October 1983 in Kottayam district of Kerala, India.

As per your demand here are the Multiple choice questions of cost accounting

BCOM - semester v – cost accounting

Multiple choice questions

1. Cost accounting mainly helps the management in
a) Earning profit
b) Providing information to management
c) Fixing prices of the products
d) All of the above

2. Cost accounting provides all of the following information except
a) Product cost
b) Cost of goods sold
c) Inventory values
d) Cash forecasts

3. Which of the following is cost – behavior oriented approach to
product costing
a) Absorption cost
b) Process costing
c) Marginal costing.
d) Job – order costing

4. An item of cost that is direct for one business may be ……….for another business.
a) Direct
b) Indirect
c) Variable
d) Fixed

5. The total of all direct expense is known as ……………… cost
a) Prime cost
b) Factory cost
c) Selling cost
d) Cost of products

6. …………… costs are partly fixed and partly variable in relation to
a) Variable
b) Fixed
c) Semi – variable
d) Marginal

7. An opportunity cost is ……………………
a) The advantage foregone
b) Additional income
c) Cost incurred in post
d) Cost for replacement

8. An opportunity cost does not involve
a) Incomes
b) Expenses
c) Cash outlays
d) Losses

9. Total variable cost change ……….. With change in output
a) Constantly
b) Not proportionately
c) Proportionately

10. Fixed cost per unit …………. With increase in output
a) Increases
b) Not –increase
c) Reduces
d) Not decrease

11. Depreciation is ………….. Expenditure
a) Variable
b) Semi – variable
c) Fixed
d) None of the above

12. Out – of pocket costs involve payment to …………
a) Management
b) Out siders
c) Employees
d) Owners

13. The cost that can be identified with a cost until is called …
a) Direct cost
b) Overhead
c) Indirect
d) Cost of production

14. Cost incurred in part have no effect on future decision making is

a) Period cost
b) Opportunity cost
c) Sunk cost
d) Marginal costing

15. The value of a benefit sacrificed in favor of an alternative course of
action, is called …………
a) Period cost
b) Opportunity cost
c) Sunk cost
d) Marginal cost
16. Cost unit for a cable industry is
a) Per tone
b) Per cost
c) Per meter
d) Per cubic foot

17. Tonne kilometer is the cost unit of ……
a) Auto mobile
b) Quarries
c) Transport service
d) Electricity

18. Direct labour costs would includes wages paid to all the following except
a) Machine operators
b) Assembly line workers
c) Janitors
d) Brick layers

19. Indirect labour costs would include wages paid to the following except
a) Machine operators
b) Material handlers
c) Store keepers
d) Fork lift operators

20. Overhead consists of all the following except
a) Indirect materials
b) Direct – labour

21. Prime cost comprises the following combination of costs
a) Direct materials and factory overhead
b) Direct labour and factory overhead
c) Direct material direct labour and direct expense
d) None of these

22. Conversion and prime costs are
a) Synonymous and can be used induce changeably
b) Both include factory overhead with its variable and fixed components
c) Represent cost incurred on joint product before the split off point
d) Differ

23. An important feature of cost centre is that
a) It uses only monitory information
b) It has clearly defined boundaries
c) It may be one specific location only
d) It must be an area of business through which product pass

24. The term cost refers to
a) An asset that has given benefit and is now expired
b) The price of product sold or services rendered
c) The value of sacrifice made to require goods or service
d) The present value of future benefit

25. Direct material is a
a) Manufacturing cost
b) Administration cost
c) Selling and distribution cost
d) Factory overhead

Contact Address :
Mahatma Gandhi University
Thodupuzha, Idukki Dist, Muttom, Kerala 685 587
Phone : 04862 256 222
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