F.Y.BAF Cost Accunting MCQ Collection

 

Cost Accunting


F.Y.BAF Cost Accunting MCQ


F.Y.BAF Cost Accunting Multiple Choice Questions With Answers


1) The cost Accounting system is developed for _______________ .

A) Financial institution
B) Government
C) Management
D) Shareholders

Ans : Management

2) Cost Accounting is an _____________ reporting system.

A) External
B) Government
C) Financial
D) Internal

Ans : Internal

3) A location for which cost is incurred is a ______________ .

A) Revenue centre
B) Cost centre
C) Profit centre
D) Produaction centre

Ans : Cost centre

4) Product cost is _______________ cost.

A) Fixed
B) Prime
C) Indirect
D) Variable

Ans : Variable

5) Cost which can be identified with the output is called as ____________ .

A) Product
B) Fixed
C) Direct
D) Indirect

Ans : Direct

6) Interest on capital is ____________ cost.

A) Sunk
B) Imputed
C) Direct
D) Indirect

Ans : Imputed

7) Overheads incurred in connection with factory is called _____________ overheads.

A) Office
B) Factory
C) Selling
D) None of the above

Ans : Factory

8) The cost which remains constant irrespective of output is called _____________ cost.

A) Variable
B) Product
C) Sunk
D) Fixed

Ans : Fixed

9) Direct labour and factory overheads is called ___________ cost.

A) Conversion
B) Direct
C) Packing
D) Indirect

Ans : Conversion

10) Cost of designing is ___________ expenses.

A) Office
B) Production
C) Indirect
D) Direct

Ans : Direct

11) The most important element of cost is ____________ .

A) Material
B) Overheads
C) Labour
D) Chargeable Exp.

Ans : Material

12) Request to the supplier to supply material is an _____________ .

A) Re-order
B) Purchase Order
C) sale invoice
D) None of the above

Ans : Purchase Order

13)  ___________ are fixed to control inventory.

A) Maximum Level
B) Minimum Level
C) Re-Order Level
D) Inventory Levels

Ans : Inventory Levels

14) ____________ indicates maximum stock to be maintained.

A) Maximum Level
B) Minimum Level
C) Re-Order Level
D) Danger Level

Ans : Maximum Level

15) Economical size of order is called as ____________ .

A) Production
B) EOQ
C) None of the above

Ans : EOQ

16) ___________ shows minimum stock to be maintained.

A) Minimim Stock Level
B) Maximum Stock Level
C) Average Stock Level
D) None of the above

Ans : Minimim Stock Level

17) Scientific purchasing begins with __________.

A) Indenting
B) Inspection
C) Ordering
D) Selection of the supplier

Ans : Indenting

18) Goods received note is prepared by ___________.

A) Purchase
B) Stores
C) Finance
D) Sales

Ans : Stores

19) ________ shows stock position at the bin.

A) EOQ
B) ABC
C) Bin Card
D) None of the above

Ans : Bin Card

20) ___________ is decided on the basis of ordering cost and carrying cost.

A) EOQ
B) Maximum Stock Level
C) Minimum Stock Level
D) Average Stock Level

Ans : EOQ

21) Dial Time recorder has ___________ holes.

A) 360
B) 200
C) 500
D) 160

Ans : 160

22) _________ card is placed at the entrance of the factory.

A) Job card
B) Clock Card
C) None of the above

Ans : Clock Card

23) Time __________ is essential for costing purpose.

A) Records
B) Booking
C) Costing
D) None of the above

Ans : Booking

24) ________ shows effective use of time.

A) Time allowed
B) Effective use of time
C) Idle Time Card
D) None of the above

Ans : Idle Time Card

25) Piece workers are paid wages on __________ basis.

A) Piece Rate
B) Time Rate
C) Time saved basis
D) None of the above

Ans : Piece Rate

26) Casual workers are appointed in place of _________ .

A) Retrenched workers
B) Absentees
C) Sincere workers
D) None of the above

Ans : Absentees

27) Time ________ is necessary for pay roll.

A) Keeping
B) Records
C) Booking
D) None of the above

Ans : Booking

28) Time __________ is done to ascertain labour cost.

A) Records
B) Booking
C) Controlling
D) None of the above

Ans : Booking

29) ____________ sheet is the method of time booking.

A) Daily Time
B) Attendance Register
C) Time clock
D) None of the above

 Ans : Daily Time

30) The card which shows time spent by a worker is called __________ card.

A) Job Ticker
B) Salary slip
C) Job
D) None of the above

Ans : Job

31) Indirect cost is known as ________ .

A) Indirect overheads
B) Overheads
C) Work overheads
D) Chargeable overheads

Ans : Overheads

32) Cost incurred to secure orders is ____________.

A) Selling overheads
B) Office overheads
C) Variable overheads
D) None of the above

Ans : Selling overheads

33) Material which cannot be charged directly ___________ .

A) Direct material
B) Indirect material
C) Overheads
D) None of the above

Ans : Indirect material

34) Rent of building is ____________ overheads.

A) Fixed overhead
B) Indirect overheads
C) Direct overheads
D) None of the above

Ans : Fixed overhead

35) Cost which can be controlled is ___________ cost.

A) Chargeable
B) Controllable
C) Overheads
D) None of the above

Ans : Controllable

36) Cost of abnormal idle time is ____________ overheads.

A) Abnormal
B) Normal
C) Production
D) None of the above

Ans : Abnormal

37) Depreciation on machinery is charged under ___________ overheads.

A) Factory overheads
B) Office overheads
C) Direct overheads
D) Indirect overheads

Ans : Factory overheads

38) Royalty on production is a __________ charge.

A) Direct
B) Indirect
C) Overheads
D) None of the above

Ans : Direct

39) Costing department expenses are considered as __________ overheads.

A) Administrative overheads
B) Production overheads
C) Office overheads
D) Selling overheads

Ans : Administrative overheads

40) Stationery in production dept is ___________ material.

A) Indirect
B) Direct
C) Fixed
D) None of the above

 Ans : Indirect

41) _____________ cost is imputed cost.

A) Interest on Capital
B) Variable
C) Out of pocket
D) Opportunity

Ans : Interest on Capital

42) Interest on capital is ___________.

A) Overheads Cost
B) Imputed Cost
C) Sunk Cost
D) Avoidable Cost

Ans : Imputed Cost

43) Drawing office salaries ____________ overheads.

A) Factory
B) Office
C) Selling
D) Distribution

Ans : Factory

44) Prime cost is ____________ cost.

A) Direct Cost
B) Indirect Cost
C) Factory Cost
D) Production Cost

Ans : Direct Cost

45) Overheads are ________ cost.

A) Direct Cost
B) Indirect Cost
C) Production Cost
D) Variable Cost

Ans : Indirect Cost

46) Factory Cost is = Prime Cost +
_________ .

A) Direct Cost
B) Factory Overheads
C) Cost of Production
D) None of the above

Ans : Factory Overheads

47) Cost of Production is = Factory Cost + __________ .

A) Factory Overheads
B) Office overheads
C) Direct Cost
D) Prime Cost

Ans : Office overheads

48) Cost of Sales = Cost of Production + __________ .

A) Selling Overheads
B) Direct Cost
C) Factory Overheads
D) Factory cost

Ans : Selling Overheads

49) Sales = Total ________ + Profit.

A) Production
B) Price
C) Cost
D) Overheads

Ans : Cost

50) In costing stock valuation is done at __________ .

A) Cost of Production
B) Cost of Material
C) Cost of Finished Goods
D) Cost of Sale

Ans : Cost of Production

 

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