ADVANCED COST ACCOUNTING M.COM PAER 1 MCQ PDF

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ADVANCED COST ACCOUNTING

M.COM PAER 1

MOST IMPORTANCE MCQ (MUMBAI UNIVERSITY)

MCQ PART 3




51. Period cost means

 a) Variable cost

 b) Fixed cost,

 c) Prime cost

 ANS. A

 

52. The break even point is the point at which:

 a) There is no profit no loss

 b) Contribution margin is equal to total fixed cost:

 c) Total revenue is equal to total cost:

 d) All of the above

ANS. A

 

53. Production cost under marginal costing include

(a) Prime cost only

(b) Prime cost and variable overhead

(c) Price cost and fixed overhead

(d) Price cost, variable overhead and fixed overhead

ANS. B

 

54. One of the primary difference between marginal costing and absorption costing is regarding the treatment of :

(a) Direct material

(b) Variable overhead

(c) Fixed overhead

(d) Overhead costs

ANS. C

 

55. Period costs are :

(a) Variable costs

(b) Fixed cost

(c) Prime cost

(d) Overhead cost

ANS. C

 

56. Absorption costing differs from marginal costing in the

(a) Fact that standard costs can be used with absorption costing but not with marginal costing.

(b) Amount of fixed costs that will be incurred

(c) Kind of activities for which each can be use

(d) Amount of costs assigned to individual units of products.

ANS. D

 

57.To obtain the break-even point in rupee sales value, total fixed costs are divided by :

(a) Variable cost per unit

(b) Contribution margin per unit

(c) Fixed cost per unit

(d) Profit / volume ration.

ANS. D

 

58. The break-even point is the point at which

(a) There is no profit no loss

(b) Contribution margin is equal to total fixed cost,

(c) Total revenue is equal to total cost

(d) All of the above.

ANS. D

 

59. Margin of safety is referred to as :

(a) Excess of actual sales over fixed expenses

(b) Excess of actual sales over variable expenses

(c) Excess of actual sales over break-even sales

(d) Excess of budgeted sales over fixed costs.

ANS. C

 

60. Material cost variance arises due to variation in price and______ of materials.

(a) Quality

(b) Quantity

(c) Volume

(d) Delivery

ANS.  B

 

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61. Idle time variance is due to difference between labour hours applied and labour hours _____.

(a) Utilised

(b) Supplied

(c) Unutilised

(d) Underutilised

ANS. A

 

 62. Fixed overhead capacity variance arises due to difference between capacity utilized and _______ capacity.

(a) Spare

(b) Excess

(c) Fixed

(d) Planned

ANS. D

 

63. Sales mix variance is due to the difference between standard value of actual sales and actual value of sales _______.

(a) Realised

(b) Effected

(c) Margin

(d) Volume

ANS. A

 

64. Standard cost is a specifically _____ cost.

(a) Pre-determined

(b) Estimated

(c) Planned

(d) Average

ANS. A

 

 

65) The classification of fixed and variable cost has a special significance in the preparation ________

a)    Flexible budget

b)    Cash budget

c)    Capital budget

d)    Zero based budget

ANS: A

 

66) While evaluating deviation of actual cost from standard cost , the technique used is______

a)    Regression analysis

b)    Variance analysis

c)    Linear analysis

d)    Trend analysis

ANS: B

 

67) Cost audit is useful _____________

a)    To the management

b)    To the government

c)    To the shareholders

d)    To all the above

ANS: D

 

68) Under integrated system of accounting issues of raw material is debited to_____

a)    Purchase account______________

b)    Work in progress control account

c)    Stores ledger control account

d)    None of above

ANS: C

 

69) Fixed cost per units _________ with increases in production .

a)    Increases

b)    Decreases

c)    Remains constant

d)    Can’t say

ANS: C

 

 

70) In Case of passenger transport ,carriage capacity is in term of _______

a)    Seats

b)    Tones

c)    Km

d)    Cc

ANS: C

 

71) Cost accounting records rules are applicable to_______

a)    Investment companies

b)    Private limited companies

c)    Both of the above

d)    None of the above

ANS: C

 

72) Which of the following method of costing can be used in a large oil refinery?

a)    Process costing

b)    Unit costing

c)    Job costing

ANS: A

 

73) Abnormal loss is charged to

a)    Process account

b)    Costing profit and loss account

c)    Normal loss account

ANS: B

 

74) In non-integrated system of accounting, the emphasis is on ____________

a)    Personal account

b)    Nominal account

c)    Real account

ANS: A

 

75) Fixed overhead capacity variance arises due to difference between capacity utilized and ________capacity.

a)    Planned

b)    Excess

c)    Fixed

ANS: A

MCQ PART 1 BELOW 

https://www.surajpateleducation.com/2020/11/advanced-cost-accounting-mcom-part-1.html 


MCQ PART 2 BELOW


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 M.Com Part 1 Other Subject MCQ 

Strategic Management

1)    https://www.surajpateleducation.com/2021/04/strategic-management-mcq-pdf.html

2)    https://www.surajpateleducation.com/2021/01/strategic-management-mcom-part-1.html

3)    https://www.surajpateleducation.com/2020/11/strategic-management-mcom-part-1-mcq-pdf.html

 

Advance Cost

1)    https://www.surajpateleducation.com/2021/03/mcom-part-1-advance-cost-accounting-mcq.html

2)    https://www.surajpateleducation.com/2020/11/advanced-cost-accounting-mcom-paer-1_28.html

3)    https://www.surajpateleducation.com/2020/11/advanced-cost-accounting-mcom-paer-1.html

 

ECONOMICS OF GLOBAL TRADE & FINANCE

1)    https://www.surajpateleducation.com/2021/01/economics-of-global-trade-finance-mcq.html

2)    https://www.surajpateleducation.com/2021/01/economics-of-global-trade-finance-mcom.html

3)    https://www.surajpateleducation.com/2020/12/economics-mcq-mcom-mumbai-university.html

4)    https://www.surajpateleducation.com/2020/12/economics-mcom-part-1-mcq-pdf.html

 

Human Resource Management

1)    https://www.surajpateleducation.com/2021/01/human-resource-management-multiple.html

2)    https://www.surajpateleducation.com/2020/11/human-resource-management-mcom-part-1_25.html

3)    https://www.surajpateleducation.com/2020/11/human-resource-management-mcom-part-1.html

 

Marketing Strategies

1)    https://www.surajpateleducation.com/2020/11/marketing-strategies-and-plans-mcom.html

2)    https://www.surajpateleducation.com/2020/11/marketing-strategies-and-plans-mcq-mcom.html

 

Advanced financial

https://www.surajpateleducation.com/2020/11/advanced-financial-accounting-mcom-part_27.html

 

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