Question:

Which of the following is not a function of Cost Accountancy?

A.

Cost Control

B.

Cost Ascertainment

C.

Cost Analysis

D.

Cost Accounting

Answer» c. Cost Analysis

Question:

Which of the following is not a technique of costing?

A.

Managerial Costing

B.

Process Costing

C.

Standard Costing

D.

Budgetary Costing

Answer» d. Budgetary Costing

Question:

Opportunity cost is the best example of

A.

Sunk cost

B.

Standard cost

C.

Relevant cost

D.

Irrelevant cost

Answer» c. Relevant cost

Question:

The written down value of the abandoned plant less its salvage value is

A.

Imputed cost

B.

Sunk cost

C.

Avoidable Cost

D.

Opportunity cost

Answer» b. Sunk cost

Question:

Which method of costing is used for determination of costs for printing industry?

A.

Process costing

B.

Operating costing

C.

Batch costing

D.

Job costing

Answer» d. Job costing

Question:

Payment of Royalties is

A.

Direct Expenses

B.

Administrative Cost

C.

Charged to Profit & Loss A/c

D.

Factory Overheads

Answer» a. Direct Expenses

Question:

From the following information, find out purchases when raw material consumed is 26,500;Closing stock 4,500 and opening stock 3,000.

A.

26,500

B.

25,000

C.

28,000

D.

34,000

Answer» c. 28,000

Question:

Notional cost is also known as

A.

Variable cost

B.

Imputed cost

C.

Opportunity cost

D.

Out of Pocket cost

Answer» b. Imputed cost

Question:

Depreciation on building is an example of

A.

Committed Costs

B.

Policy and Managed Costs

C.

Discretionary Costs

D.

Step Costs

Answer» a. Committed Costs

Question:

Which one of the following statement is true?

A.

Abnormal cost is not controllable

B.

Financial Expenses are included in Cost Sheet

C.

All overheads changes with the change in volume and in the same proportion. 28

D.

Primary packing is an item of prime cost.

Answer» d. Primary packing is an item of prime cost.