Mumbai University M.com Part 1 All Subject MCQ Link In One Link
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1. finished product of a preceding process is
A value of a unit
B credited to process account
B the raw material of subsequent process
D not credited to process account
ANS: 3
2. an increase in fixed cost will
A increase in bep
B decrease bep
C maintain the same bep
D doubling of bep
ANS: 2
3. This ledger represents the total value of
finished goods in stock
A general ledger adjustment account
B stock ledger control account
C work in progress ledger
D finished goods control account
ANS: 1
4. absolute tone km is an example
A composite unit power sector
B composite unit transport sector
C composite unit in bus operation
D composite unit for oil and natural gas
ANS: 4
5. variable cost depends on
A consumer preference
B production
C sales
D consumer needs and wants
ANS: 2
6. _ is managerial device do determining
efficiency and effectiveness of cost performance
A cost sheets
B zero based budget
C standard costing
D decision making
ANS: 3
7. _ costs are incurred even if the plant is
shut down
A imputed
B variable
C opportunity
D shut down
ANS: 4
8. _ are drawn up to measure the success or
failure of the activities in achieving the objectives of the organisation
A cash budget
B periodical statement of accounts
C ledgers
D balance sheet
ANS: 2
9. cost control is
A prevention of waste
B control of waste
C reduction of quality
D improvement of quality
ANS: 3
10. Purchases for social jobs is debited under
none integrated system to
A work in progress ledger control account
B cost ledger control account
C stores ledger control account
D purchases account
ANS: 1
11. PV ratio will increase if there is
A increase in fixed cost
B a decrease in variable cost per unit
C decrease in fixed cost
D increase in sales volume
ANS: 2
12. composite unit is distinctive feature of
A job costing
B operations costing
C batch costing
D contract costing
ANS: 2
13. _ is the addition to total cost due to
change in output by one unit
A marginal cost
B sunk cost
C opportunity cost
D differential cost
ANS: 1
14. It is necessary to identify _ in the
organisation and budgets are to developed for each of them
A activity
B process
C cost unit
D budget Center's
ANS: 4
15. Cost reduction is
A continuous process
B periodical process
C stop gap process
D irregular process
ANS: 1
16. the cost audit report must be submitted to
A shareholders
B board of directors
C central government
D state government
ANS: 3
17. _ defines as a systematic and independent
examination of date statements records operations and performance
A accounting
B bookkeeping
C auditing
D assessment
ANS: 3
18. if the price is equal to marginal cost the
amount of loss will be equal to
A fixed cost
B discretionary cost
C direct cost
D sunk cost
ANS: 1
19. Fixed overhead expenditure variance arises
to difference between actual fixed over overhead incurred and _ fixed overhead
A standard
B total
C budgeted
D given
ANS: 3
20. _ is schedule booklet or document that sets
out the responsibilities routine of and forms used and procedure to be followed
A cost sheets
B budget manual
C organisational chart
D rules and regulations
ANS: 2
21. In make or buy decisions
A marginal cost and purchase price should be considered
B total cost and purchase price should be considered
C fixed cost and marginal cost should be considered
D none of the above
ANS: 1
22. what is cost ledger control Account
A an account in the cost ledger to record financial
accounting items
B an account in financial ledger to record cost accounting
items
C an account that'd summarises outstanding payable balances
D an account that summarises outstanding receivables
ANS: 2
23. under operating costing which one of them
cost is not a fixed cost
A license fees
B insurance
C garage rent
D petrol
ANS: 4
24. if the present cost of the car is 1 lakh
residual value at the end of 5th year is 20000 the annual depreciation is
A 20000
B 16000
C 1300
D 17333
ANS: 3
25. calculate labour rate variance from the
following data
Actual hours - 90
Standard hours 85
Standard rate 2 per hour
Actual rate 1.50 per hour
A 42.5A
B 42.5F
C 45A
D 45 F
ANS: 2
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