M.com part 1 cost and management accounting sem 1 MCQ

bysuraj patel education -February 06, 2024

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Cost and Management Accounting MCQ

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

M.com part 1 cost and management accounting sem 1 MCQ

75) Fixed overhead capacity variance arises due to difference between capacity utilized and ________capacity.
a)      Planned
b)     Excess
c)      Fixed
ANS: A

76) Idle time variance is due to difference between labour hours applied and labour hours ___________
a)      Underutilized
b)     Unutilized
c)      Utilized
ANS: C

77) Sales budget is
a)      Function budget
b)     Master budget
c)      Expenditure budget
ANS: B

78) Variable cost per unit ________
a)      Increases
b)     Decreases
c)      Remains constant
ANS: D

79) Composite unit is distinctive feature of ___________
a)      Operating costing
b)     Job costing
c)      Process costing
ANS: B

80) Margin of safety is an indication of _______
a)      Loss
b)     Profit
c)      None of the above
ANS: B

81) In break even chart, cost is shown on the ______
a)      X axis
b)     Y axis
c)      None of the above
ANS: B

82) A cash budget is similar to fund ________
a)      Flow cost
b)     Flow statement
c)      None of the above
ANS: B

83) Invisible waste has no ______ value.
a)      Sale
b)     Purchase
c)      Creditor
d)     Debtors
ANS: A

84) Operation costing is a type of __________
a)      Budget costing
b)     Labour costing
c)      Operating costing
d)     Both A & B
ANS: C

85) Sale value of the units of abnormal loss is credited to _______account.
a)      Normal loss
b)     Abnormal loss
c)      Normal gain
d)     Abnormal gain
ANS: B

86) 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

87) Process costing is a method of________.
a)      Process
b)     Labour
c)      Costing
d)     Sales
ANS: C

88) __________ is compulsory for all the profit.
a)      Sales audit
b)     Purchase audit
c)      Cost audit
d)     Audit
ANS: C

89) ________ is a part of cost record .
a)      Labour report
b)     Process report
c)      Material report
d)     Production report
ANS: D

90) Cash budget and funds flow statement are______.
a)      Same
b)     Different
c)      Equal
ANS: A

91) Works overhead and factory overheads are the _______.
a)      Same
b)     Different
c)      Equal
ANS: A

92) Total cost and total revenue are ________ at BEP.
a)      Unequal
b)     Equal
c)      Different
d)     Similar
ANS: A

93) A cash budget is ___________ to fund flow statement .
a)      Unequal
b)     Equal
c)      Different
d)     Similar
ANS: D

94) Works overhead and factory overhead are one and the_______.
a)      same
b)     Equal
c)      Different
d)     Similar
ANS: A

95) Cost ledger control a/c is opened in _______.
a)      Cost ledger
b)     Audit ledger
c)      Budget ledger
ANS: A

96) All functional budget are covered in _______budget.
a)      Master
b)     Sales
c)      Purchase
d)     Process
ANS: A

97) Forecasts and budget are ________ words.
a)      same
b)     Equal
c)      Different
d)     Similar
ANS: C

98) _______ includes depreciation.
a)      Cash budget
b)     Cost budget
c)      Cost book
d)     Standard cost
ANS: A

99) A budget has to be _______
a)      Unrealistic
b)     Realistic
c)      Elastic
d)     None of the above
ANS: B

100)     Normal loss does not carry any_______
a)      Face value
b)     Market value
c)      Both A&B
d)     Only A
ANS: B

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