Question: Statement showing break up of costs is known as A. Cost sheet B. Tender C. Production account D. Statement of profit Answer» a. Cost sheet Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: Costs are classified between direct and indirect costs according to method of classificationby A. Nature or Element B. Functions C. Degree of traceability to product D. Change in Activity or Volume Answer» c. Degree of traceability to product Note:…

Question: Variable costs are fixed A. depend upon the entity B. for a period C. per unit D. for a particular process of production Answer» c. per unit Note: The above multiple-choice question is for all general and Competitive Exams…

Question: CAS-21 is related to A. Cost Accounting Standard on Overburden Removal Cost. B. Cost Accounting Standard on Interest and Financing Charges C. Cost Accounting Standard on Joint Cost D. Cost Accounting Standard on Quality Control Answer» d. Cost Accounting…

Question: Interest on own capital is A. Cash Cost B. Notional Cost C. Part of Prime Cost D. Semi-Variable Cost Answer» b. Notional Cost Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: Over which the following costs, management is likely to have least control? A. Wages cost B. Building Insurance cost C. Machinery Breakdown cost D. Advertisement cost Answer» c. Machinery Breakdown cost Note: The above multiple-choice question is for all…

Question: Costing is a technique of A. Recording of Cost transactions B. Ascertaining Cost C. Preparation of final accounts D. Decision making Answer» b. Ascertaining Cost Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: The branch of the accounting dealing with the classification, recording, allocation,summarizing and reporting of current and prospective costs, is known as A. Financial Accounting B. Management Accounting 26 C. Cost Accounting D. Cost Accountancy Answer» c. Cost Accounting Note:…

Question: Cost reduction – A. Long term phenomena B. It challenges the standards. C. It is carried out without compromising the quality. D. All of the above Answer» d. All of the above Note: The above multiple-choice question is for…

Question: Cost of free samples and gifts are included in A. Prime Cost B. Factory Overhead C. Office and Administrative Overheads D. Selling & Distribution Overheads Answer» d. Selling & Distribution Overheads Note: The above multiple-choice question is for all…