Cost Accounting MCQ
What Is Cost Accounting?
Cost accounting is a method of managerial accounting which aims to capture the total production cost of a business by measuring the variable costs of each production phase as well as fixed costs, such as a lease expense.
Examples include rent, depreciation, interest on loans and lease expenses. Direct, indirect, fixed, and variable are the 4 main kinds of cost. In addition to this, you might also want to look into operating costs, opportunity costs, sunk costs, and controllable costs.
41.variable cost vary
a) Per unit
b) In aggregate
c) Per unit and aggregate
Answer:- b
42. Standard costing is
a) Technique
b) Method
c) Process
Answer:- a
43. The difference between standard and actual is called
a) Deviation
b) Difference in cost
c) Variance
Answer:- a
44. Historical costing is also called
a) Total costing
b) Actual costing
c) Notional costing
Answer:- b
45. Costing is a technique of
a) Inventory control
b) Calculation of cost
c) Ascertainment of cost
Answer:- c
46. ……………….. Costing is used in transport costing
a) Operating
b) Standard
c) Marginal
Answer:- a
47. Depreciation is a ………….. Expense
a) Fixed
b) Variable
c) Semi – variable
Answer:- c
48. ………………….. Cost per unit does not change with change in activity level
a) Overhead
b) Variable
c) Fixed
Answer:- b
49. Telephone expense is a …………………. Expense
a) Fixed
b) Variable
c) Semi – variable
Answer:- c
50. Cost accounting is the art, science and …………… cost of accountant
a) Profession
b) Management
c) Administration
Answer:- a
