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Cost Accounting MCQs with Answers – Quiz # 1
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Cost Accounting MCQs with Answers – Quiz # 1
- This Quiz is related to HTML5 ( Based on different books & past papers) – Quiz # 1 in this series
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Planning, Decision making and control are three important functions of the management and ________ is helpful in performing these all functions
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The expired cost is called
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The presentation of accounting information for policy or decision making in day to day operation of an undertaking
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Wrong!
The term “Costing” and “cost Accounting” are often use
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Wrong!
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_________ lays emphasis on the recording aspect without attaching any importance to control
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Wrong!
In ……….. stocks are valued at cost or market price which ever is less
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The art of recording, classifying , summarizing the business transactions and interpretation of results thereof is called
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Wrong!
The method of costing used in a refinery is/are
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_________ shows only overall performance of a business and does not help in providing performance appraisal, proper classification of cost, Price fixation & cost control system
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Branch(s) of accounting is/are
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………..costing is used in transport undertakings
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___________ provides information to business managers and also to outside parties including shareholders, suppliers, public, customers, and Government departments
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_________ lays emphasis on the recording aspect without attaching any importance to control
Correct!
Wrong!
The technique or process of ascertaining cost is termed as
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Wrong!
Cost accounting is
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Wrong!
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