ADVANCED COST ACCOUNTING
M.COM [PART 1]
1) Idle time variance is
due to difference between labour hours applied and labour hours ___________
a)
Underutilized
b)
Unutilized
c)
Utilized
ANS: C
2) Sales budget is
a)
Function budget
b)
Master budget
c)
Expenditure budget
ANS: B
3) Variable cost per unit
________
a)
Increases
b)
Decreases
c)
Remains constant
ANS: D
4) Composite unit is
distinctive feature of ___________
a)
Operating costing
b)
Job costing
c)
Process costing
ANS: B
5) Margin of safety is an
indication of _______
a)
Loss
b)
Profit
c)
None of the above
ANS: B
6) In break even chart,
cost is shown on the ______
a)
X axis
b)
Y axis
c)
None of the above
ANS: B
7) A cash budget is
similar to fund ________
a)
Flow cost
b)
Flow statement
c)
None of the above
ANS: B
8) Invisible waste has no
______ value.
a)
Sale
b)
Purchase
c)
Creditor
d)
Debtors
ANS: A
9) Operation costing is a
type of __________
a)
Budget costing
b)
Labour costing
c)
Operating costing
d)
Both A & B
ANS: C
10) A negative ___________
is said to be favourable.
a)
Sales price value variance
b)
Sales volume value variance
c)
Sales value variance
d)
Sales mix variance
ANS: C
11) Process costing is a
method of________.
a)
Process
b)
Labour
c)
Costing
d)
Sales
ANS: C
12) __________ is
compulsory for all the profit.
a)
Sales audit
b)
Purchase audit
c)
Cost audit
d)
Audit
ANS: C
13) ________ is a part of
cost record .
a)
Labour report
b)
Process report
c)
Material report
d)
Production report
ANS: D
14) Cash budget and funds
flow statement are______.
a)
Same
b)
Different
c)
Equal
ANS: A
15) Works overhead and
factory overheads are the _______.
a)
Same
b)
Different
c)
Equal
ANS: A
16) Total cost and total
revenue are ________ at BEP.
a)
Unequal
b)
Equal
c)
Different
d)
Similar
ANS: A
17) A cash budget is
___________ to fund flow statement .
a)
Unequal
b)
Equal
c)
Different
d)
Similar
ANS: D
18) Works overhead and
factory overhead are one and the_______.
a)
same
b)
Equal
c)
Different
d)
Similar
ANS: A
19) Cost ledger control a/c
is opened in _______.
a)
Cost ledger
b)
Audit ledger
c)
Budget ledger
ANS: A
20) All functional budget
are covered in _______budget.
a)
Master
b)
Sales
c)
Purchase
d)
Process
ANS: A
21) Forecasts and budget
are ________ words.
a)
same
b)
Equal
c)
Different
d)
Similar
ANS: C
22) _______ includes depreciation.
a)
Cash budget
b)
Cost budget
c)
Cost book
d)
Standard cost
ANS: A
23) A budget has to be
_______
a)
Unrealistic
b)
Realistic
c)
Elastic
d)
None of the above
ANS: B
25) Normal loss does
not carry any_______
a)
Face value
b)
Market value
c)
Both A&B
d)
Only A
ANS: B
a) Normal loss
b) Abnormal loss
c) Normal gain
d) Abnormal gain
ANS: B
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