M.com Part 1 cost and management accounting mcqs with answers pdf

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1) Sales budget is a ___________
a)      Function budget
b)     Master budget
c)      Expenditure budget
ANS: A        
 
2) Operating costing is useful for ____________
a)      Manufacturing company
b)     Construction company
c)      Service company
ANS: C
 
3) Margin of safety occurs when actual sales is ____________
a)      At bread even point
b)     Above break even point
c)      Below break even point
ANS: B
 
4) Standard costing is a _____________
a)      Method of costing
b)     Technique of costing
c)      System of cost accounting
ANS: B
 
5) Under integrated system of accounting ____________
a)      Fixed cost and variable cost are combined
b)     Financial accounting and cost accounting are combined
c)      Sales and non sales revenues are combined
ANS: B
 
6) Tonne –km is useful for _______
a)      Transport costing
b)     Hotel costing
c)      Hospital costing
ANS: A
 
7) Process costing is applicable to ____________
a)      Chemical industry
b)     Construction industry
c)      Service industry
ANS: A
 
8) Normal loss arises under_________
a)      Normal condition
b)     Abnormal condition
c)      Both A & B
ANS: A
 
 
9) Raw material is in _________ stage in work in progress .
a)      Stock stage
b)     Partially stage
c)      Finished stage
ANS: B
 
10) Equivalent production of 1000 unit, if 60% completed in all aspects is __________
a)      100 units
b)     1600 units
c)      600 units
ANS: C
 
11) Operating costing is applicable to____________
a)      Functional budget
b)     Master budget
c)      Expenditure budget
ANS: A
 
12) Under integrate system of accounting_______
a)      Fixed cost and variable cost are combined
b)     Financial accounting and cost accounting are combined
c)      Sales and non sales revenues are combined
ANS: B
 
13) Marginal costing  is a __________
a)      Method of costing
b)     Technical costing
c)      System of costing
ANS: B
 
14) The concept of equivalent units relevant for _______
a)      Batch costing
b)     Job costing
c)      Process costing
d)     Service costing
ANS: C
 
15) 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
 
16) 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
 
17) Cost audit is useful _____________
a)      To the management
b)     To the government
c)      To the shareholders
d)     To all the above
ANS: D
 
18) 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
 
19) Fixed cost per units _________ with increases in production .
a)      Increases
b)     Decreases
c)      Remains constant
d)     Can’t say
ANS: C
 
 
20) In Case of passenger transport ,carriage capacity is in term of _______
a)      Seats
b)     Tones
c)      Km
d)     Cc
ANS: C
 
21) 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
 
22) 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
 
23) Abnormal loss is charged to
a)      Process account
b)     Costing profit and loss account
c)      Normal loss account
ANS: B
 
24) In non-integrated system of accounting, the emphasis is on ____________
a)      Personal account
b)     Nominal account
c)      Real account
ANS: A
 
25) Fixed overhead capacity variance arises due to difference between capacity utilized and ________capacity.
a)      Planned
b)     Excess
c)      Fixed
ANS: A

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STRATEGIC MANAGEMENT

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