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

bysuraj patel education -March 10, 2022

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Cost and Management Accounting MCQ

Mumbai University M.com Part 1 All Subject MCQ Link In One Link

Cost and management accounting M.com Part 1 mcqs

1 Material expenses are_______
A.   Variable Cost
B.   Semi-Variable
C.   Cost Fixed Cost
D.   Cost
ANS: A

2 Margin of Safety _______

A.   Sales ANS: BEP
B.   Profit/Contribution pu
C.   Fixed Cost/Contribution pu
D.   Sales – Profit
ANS: B

3 Margin of Safety _______
A.   Sales - Break Even Point
B.   Fixed Cost/Contribution pu
C.   Profit X Contribution pu
D.   Profit + Break Even Point
ANS: A

4 Profit is __________ if Sales 800000 and Profit Volume Ratio is 50% & Fixed Cost is 150000
A.   450000
B.   350000
C.   250000
D.   150000
ANS: C

5 BEP 300000 & MOS 900000 then Sales are ___________
A.   1000000
B.   1200000
C.   600000
D.   800000
ANS: B

6 Budget is NOT ________
A.   Futuristic
B.   Goal Based
C.   Based on Estimates
D.   Focusing to the past events
ANS: D

7 Cash Budget is ______
A.   Master Budget
B.   Functional Budget
C.   Flexible Budget
D.   Fixed Budget
ANS: A

8 Production cost budget shows
A.   Budgeted cost of sales
B.   Budgeted cost of production
C.   Budgeted purchases
D.   Budgeted capacity
ANS: B

9 The budget which is dynamic is
A.   Cash budget
B.   Flexible budget
C.   Fixed Budget
D.   Sales budget
ANS: B

10 Profit volume ratio establishes the relationship between _______
A.   Contribution and profit
B.   Fixed cost and contribution
C.   Profit and sales
D.   Contribution and sales volume
ANS: D

11 Contribution/sales is equal to _______
A.   Profit Volume Ratio
B.   Net Profit Ratio
C.   Break Even Point
D.   Margin of Safety
ANS: A

12 If total cost of 100 units is Rs 5000 and those of 101 units is Rs 5030 then increase of Rs 30 in total cost is 1
A.   Marginal cost
B.   Prime cost
C.   Sales Cost
D.   Works Cost
ANS: A

13 The affecting factor which is not allowing to produce more than a limit set is ________
A.   Key Factor
B.   Production Factor
C.   X Factor
D.   Factor
ANS: A

14 Product/Projectable Mix is the combination of production to increase _____
A.   Market Share
B.   Profit
C.   Sales
D.   Turnover
ANS: B

15 Variances are calculated in ________
A.   Marginal Costing
B.   Budgets
C.   Standard Costing
D.   Absorption Costing
ANS: C

16 To determine utilization of spare capacity ________ is used.
A.   Absorption Costing
B.   Budgets
C.   Standard Costing
D.   Marginal Costing
ANS: D

17 To plan whether to make or buy ________ is applied
A.   Marginal Costing
B.   Budgets
C.   Standard Costing
D.   Absorption Costing
ANS: A

18 Using marginal costing unit with lowest profits will be ________
A.   Continued
B.   Discontinued/shutdown
C.   Planned
D.   Focused
ANS: B

19 _________ is NOT a type of budget
A.   Fixed Budget
B.   Master Budget
C.   Long Term Budget
D.   Excess Budget
ANS: D

20 The term standard cost refers to the ____________
A.   standard expenses of standard production
B.   actual expenses of standard production
C.   standard expenses of actual production
D.   actual expenses of actual production
ANS: A

21 The term standard cost for actual production refers to the ____________
A.   standard expenses of standard production
B.   actual expenses of standard production
C.   standard expenses of actual production
D.   actual expenses of actual production
ANS: C

22 The unit of cost for hotels in operating costing is
A.   Per Visitor
B.   Per Km
C.   Per kg.
D.   Per cup of tea
ANS: D

23 The unit of cost for goods transport companies in operating costing is
A.   Per Unit
B.   Per Passenger km
C.   Per ton
D.   Per Ton km
ANS: D

24 The unit of cost for hospitals in operating costing is
A.   Per bed
B.   Per ton
C.   Per km
D.   Per Unit
ANS: A

25 Operating costing is NOT applicable to
A.   Transport companies
B.   Hospitals
C.   Hotels
D.   Manufacturing Companies
ANS: D

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