Cost Accounting T.Y.B.COM MCQ PDF

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YOUTUBE: SURAJ PATEL EDUCTION

Cost Accounting

T.Y.B.COM

IMPORTANCE MCQ PDF DWONLIAD


 

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https://www.surajpateleducation.com/2021/04/tybcom-cost-accounting-question-with.html

 

1.       The most important element of cost is _____.

a.       Material

b.       Overheads

c.       Labour

d.       Chargeable Exp.

ANS: A

 

2.       Request to the supplier to supply material is an _____.

a.       re-order

b.       Purchase Order

c.       Sale invoice

d.       Maximum Level

ANS: B

 

3.       _____ _____ are fixed to control inventory.

a.       Maximum Level

b.       Minimum Level

c.       Re-Order Level

d.       Inventory Levels

ANS: D

 

4.       _____ _____ indicates maximum stock to be maintained.

a.       Maximum Level

b.       Minimum Level

c.       Re-Order Level

d.       Danger Level

ANS: A

 

5.       Economical size of order is called as _____.

a.       Production

b.       EOQ

c.       Overheads

d.       Labour

ANS: B

 

6.       _____ _____ _____ shows minimum stock to be maintained.

a.       Minimim Stock Level

b.       Maximum Stock Level

c.       Average Stock Level

d.       ABC

ANS: A

 

7.       Goods received note is prepared by __________.

a.       Purchase

b.       Stores

c.       Finance

d.       Sales

ANS: B

 

8.       _____ _____ shows stock position at the bin.

a.       EOQ

b.       ABC

c.       Bin Card

d.       XYZ

ANS: C

 

9.       _____ _____ _____ is decided on the basis of ordering cost and carrying cost.

a.       EOQ

b.       Maximum Stock Level

c.       Minimum Stock Level

d.       Average Stock Level

ANS: A

 

10.   _____ analysis shows classification of inventory into three categories.

a.       EOQ

b.       ABC

c.       Bin Card

d.       None of the above

ANS: B

 

11.   The function of Purchase Department is

a.       Purchase of materials

b.       Sale of scrap

c.       Production of goods

d.       Sale of goods

ANS: A

 

 

12.   EOQ is

a.       economical size of order

b.       economical size of production

c.       economical size ofsales

d.       economical size of labour

ANS: A

 

13.   _____ _____ shows stock position of Bin. Inspection

a.       note

b.       Delivery

c.       material Bin Card Store

d.       record

ANS: C

 

 

14.   Material control includes control over_____.

a.       Expenses control

b.       Material

c.       Control Over labour

d.       Control over overheads

ANS: B

 

 

15.   Under _____ _____ _____ stock is verified at the end of a certain period.

a.       Continuosly

b.       Certain period

c.       Periodic Inventory

d.       Perpetual Inventory system

ANS: C

 

16.   Fluctuation in prices are averaged out under_____ _____ method.

a.       Weighted Average

b.       Simple Average

c.       FIFO

d.       LIFO

ANS: A

 

17.   Inventory valuation is done at latest price under _____ method.

a.       FIFO

b.       LIFO

c.       Average Simple

d.       Average

ANS: A

 

18.   _____ _____ decrease cost of materials.

a.       Standard Price

b.       Trade Discount

c.       Cost of material

d.       Average

ANS: B

 

19.   Drawing office salaries _____ overheads.

a.       Factory

b.       Office

c.       Selling

d.       Distribution

ANS: A

 

20.   Prime cost is _____ cost.

a.       Direct Cost

b.       Indirect Cost

c.       Factory Cost

d.       Production Cost

ANS:A

 

21.   Overheads are _____ cost.

a.       Direct Cost

b.       Indirect Cost

c.       Production Cost

d.       Variable Cost

ANS: B

 

22.   Factory Cost is = Prime Cost + _____.

a.       Direct Cost

b.       Factory Overheads

c.       Cost of Production

d.       Selling Overheads

ANS: B

 

23.   Cost of Production is = Factory Cost + _____.

a.       Factory Overheads

b.       Office overheads

c.       Direct Cost

d.       Prime Cost

ANS: B

 

24.   Cost of Sales = Cost of Production + _____.

a.       Selling Overheads

b.       Direct Cost

c.       Factory Overheads

d.       Fixed Overheads

ANS: A

 

25.   Sales = Total _____ + Profit.

a.       Production

b.       Price

c.       Cost

d.       Overheads

ANS: C


COST ACCOUNT PART 1

 

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