Mumbai University IDOl MCQ PDF | IDOL Cost Account MCQ With Answer
Cost Account M.Com Part ( I & II ) and T.Y.B.Com Very Importance MCQ Q.1 A functional classification of costs would classify “depreciation on office equipment” as aA. Product costB. Administrative expenseC. Selling expenseD. Variable costANS: D Q.2. A particular cost is classified as being semi-variable. What is the effect on the TOTAL COST if activity increases by 20%?A. Stays the sameB. Decreases by less than 20%C. Increases by 20%D. Increases by less than 20%ANS: C Q.3 The functional classification of costs include the following except(a) Prime cost(b) Production cost(c) Administration cost(d) Marketing costANS: B Q.4. Process of ascertainment of costs is known asA. CostingB. Cost reportingC. Cost controlD. None of the aboveANS: A Q.5.. Cost information facilitates many important decisions exceptA. Introduction of a productB. Whether to make or buyC. Rate of dividendD. Exploration of an additional marketANS: A Q.6.An example of fixed cost isA. Materials consumedB. DepreciationC. Factory powerD. Packing materialANS: B Q.7. Variable cost per unitA. Varies when output variesB. Remains constantC. Increases when output increasesD. Decreasases when output decreasesANS: B Q.8. Which of the following is considered to be a normal loss of material?A. Loss due to accidentsB. PilferageC. Loss due to careless handling of materialD. Loss due to breaking the bulkANS: D Q.9.Bin card is maintained by theA. Accounts departmentB. Costing departmentC. StoresD. None of the aboveANS: C Q.10 Which of the.following documents is used for issuing materials to production departments ?A. Purchase Requisition NoteB. Stores requisition NoteC. Goods Received NoteD. Stores Credit NoteANS: A Q.11. Labour turnover isA. productivity of labourB. Efficiency of the labourC. change in labour forceD. total cost of the labourANS: C Q.12. Bonus under halsey plan is paid(a) At 50% of time saved(b) At 75% of time saved(c) At 80% of time saved(d) At 90% of time savedANS: A Q.13. Merricks multiple piece rate system has(a) Two rates(b) Three rates(c) Four rates(d) Five ratesANS: B Q.14. bad debt is an exampleof(a) production overhead(b) administration overhead(c) selling overhead(d) Distributin overheadANS: C Q.15. Packing cost is a(a) Production cost(b) Selling cost(c) Distribution cost(d) It may be any of the aboveANS: C Q.16. A typical factory overhead cost is(a) Distribution(b) Internal audit(c) Compensation of plant manger(d) designANS: C Q.17. Cost of production – administrstion overheads=(a) Prime cost(b) Cost of sales(c) Work cost(d) Work-in-progressANS: A Q.18 Which of the following items is not included in preparation of a cost sheet(a) Carried inward(b) Purchase returns(c) Sales commission(d) Interest paidANS: D Q.19 Total cost – selling and distrubtion overheads =(a) Cost of goods sold(b) Closing stock(c) Cost of prodution(d) Net profitANS: D Q.20.What is prime cost(a) Total diret costs only(b) Total indiret costs only(c) Total non-production costs(d) Total production costsANS: A Q.21. Salary of a foreman should be classified as a(a) Fixed overhead(b) Variable overhead(c) Semifixed or semi-varible overhead(d) none of aboveANS: C Q.22. Overheads expenses can be classified according to(a) Function(b) Elements(c) Behavior(d) All of the aboveANS: D Q.23. Overtime premium is paid(a) At normal rate(b) Below the normal rate(c) At 50% of the normal rate(d) At double normal rateANS: D Q.24. For calculation of labour turnover under separation method(a) only the number of employees left from the organisation is considered(b) only the number of employees replaced are considered(c) only the number of employees retrenched are considered(d) only the number of employees who are new to the organisation is consideredANS: B Q.25. Perpetual inventory system involvesa. Bin card and Stores ledgerb. Bill of material and Material reqc. Purchase requisition and purchase orderd. Inward and Outward invoicesANS: A If You Need Most Importance MCQ PDF Cost Accounting Question Bank Than Pay Rs 100 Only Contact 8652719712 / 8779537141 Telegram Group Mumbai Univeersity :- https://t.me/mumbaiuniversityidol Suraj Patel Education :- https://t.me/surajpateleducation F.Y.J.C EXAM :- https://t.me/FYJCexam S.Y.J.C EXAM :- https://t.me/SYJCexam F.Y EXAM :- https://t.me/fyexam S.Y EXAM :- https://t.me/syexam T.Y EXAM :- https://t.me/tyexam M.Com Part 1 EXAM :- https://t.me/McomPart1Exam M.Com Part 2 EXAM :- https://t.me/McomPart2Exam M.A EXAM :- https://t.me/mastudentsexam YouTube Channel https://www.youtube.com/channel/UCNxVWIrZ1JYB4y-bWXfaBAw M.Com Part 1 Strategic Management https://www.mumbaiuniversityidol.com/2021/05/strategic-management-mcom-part-1-mcq-pdf.html https://www.mumbaiuniversityidol.com/2021/05/marketing-strategies-and-plans-mcom.html ECONOMICS OF GLOBAL TRADE AND FINANCE https://www.mumbaiuniversityidol.com/2021/05/mcom-part-1-economics-mcq-pdf-economics.html ADVANCED FINANCIAL ACCOUNTING https://www.mumbaiuniversityidol.com/2021/05/advanced-cost-accounting-mcom-part-1.html HUMAN RESOURCE MANAGEMENT https://www.surajpateleducation.com/2020/11/human-resource-management-mcom-part-1.html