MCQOPTIONS
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MCQOPTIONS
This section includes 1375 Mcqs, each offering curated multiple-choice questions to sharpen your Commerce knowledge and support exam preparation. Choose a topic below to get started.
| 551. |
A document which contains information about materials of specific product, in specific department comes under |
| A. | osting method |
| B. | elling method |
| C. | aterial acquisition method |
| D. | one of above |
| Answer» D. one of above | |
| 552. |
Term which describes assigning of indirect cost to any cost abject is classified as |
| A. | ost allocation |
| B. | ales tracing |
| C. | ales allocation |
| D. | ost tracing |
| Answer» B. ales tracing | |
| 553. |
Budgeted direct labour hours are multiplied to direct labour cost rate to calculate |
| A. | xpected total direct labour cost |
| B. | udgeted total direct labour cost |
| C. | udgeted total indirect labour cost |
| D. | xpected labour hours |
| Answer» C. udgeted total indirect labour cost | |
| 554. |
Budgeted total direct labour cost is divided with budgeted total direct labour to calculate |
| A. | udgeted indirect labour cost rate |
| B. | xpected direct labour cost rate |
| C. | udgeted direct labour cost rate |
| D. | xpected indirect labour cost rate |
| Answer» D. xpected indirect labour cost rate | |
| 555. |
Actual loss is more than the predetermined normal loss, it is ________. |
| A. | ormal loss |
| B. | bnormal loss |
| C. | easonal loss |
| D. | tandard loss |
| Answer» C. easonal loss | |
| 556. |
Abnormal loss and its value are _______. |
| A. | ebited to process a/c |
| B. | redited to process a/c |
| C. | ebited to costing profit and loss a/c |
| D. | ebited to profit and loss a/c |
| Answer» C. ebited to costing profit and loss a/c | |
| 557. |
Normal loss in the manufacturing process leads to _______. |
| A. | eduction in unit price of other good units |
| B. | ncrease in unit price of other good units |
| C. | eduction in costing profit |
| D. | ncrease in costing profit |
| Answer» C. eduction in costing profit | |
| 558. |
The expenses relating to a particular process is ________. |
| A. | ebited to that process a/c |
| B. | redited to that process a/c |
| C. | ebited to costing profit and loss a/c |
| D. | ebited to profit and loss a/c |
| Answer» B. redited to that process a/c | |
| 559. |
In labour oriented manufacturing industry which method of overhead absorption is suitable? |
| A. | irect material cost method |
| B. | rime cost method |
| C. | abour hour method |
| D. | achine hour method |
| Answer» D. achine hour method | |
| 560. |
Comprehensive machine hour rate includes ________. |
| A. | achine operators wages |
| B. | anaging directors salary |
| C. | ncome tax |
| D. | ffice rent |
| Answer» B. anaging directors salary | |
| 561. |
Charging output with overhead at reasonable rate is called ________. |
| A. | llocation |
| B. | ppropriation |
| C. | pportionment |
| D. | bsorption |
| Answer» D. bsorption | |
| 562. |
Recreation expenses in factory are apportioned on the basis of ________. |
| A. | aterial cost |
| B. | ages |
| C. | rime cost |
| D. | umber of employees |
| Answer» E. | |
| 563. |
Idle capacity of a plant refers to the difference between ________. |
| A. | aximum capacity and practical capacity |
| B. | ractical capacity and normal capacity |
| C. | ractical capacity and capacity based on sales expectancy |
| D. | aximum capacity and actual capacity |
| Answer» E. | |
| 564. |
Which of the following is NOT a selling overhead? |
| A. | nsurance to cover sold goods while in transit |
| B. | oyalty on sales |
| C. | egal cost on debt realization |
| D. | istribution of samples |
| Answer» D. istribution of samples | |
| 565. |
Discarded material substances having some value is ________. |
| A. | aste |
| B. | crap |
| C. | efective |
| D. | poilage |
| Answer» C. efective | |
| 566. |
Discarded material substances having no value is called ________. |
| A. | aste |
| B. | crap |
| C. | efectives |
| D. | poilage |
| Answer» B. crap | |
| 567. |
Generally types of stores are classified into ________. |
| A. | wo types |
| B. | hree types |
| C. | our types |
| D. | ive types |
| Answer» C. our types | |
| 568. |
The loss which arise in manufacturing activity on account of inherent nature of the product is ________. |
| A. | ormal loss |
| B. | bnormal loss |
| C. | et loss |
| D. | ross loss |
| Answer» B. bnormal loss | |
| 569. |
How many rate are used to calculate wages under Taylor's differential piece rate system? |
| A. | wo |
| B. | hree |
| C. | our |
| D. | ive |
| Answer» B. hree | |
| 570. |
Labour cost is the second element of ________. |
| A. | ost |
| B. | rofit |
| C. | ales |
| D. | ask |
| Answer» B. rofit | |
| 571. |
Fire insurance of stock can be apportioned on the basis of ________. |
| A. | alue of stock |
| B. | olume of stock |
| C. | umber of stores requisition |
| D. | aterial used |
| Answer» B. olume of stock | |
| 572. |
Which of the following is an example of semi-variable cost? |
| A. | alary |
| B. | ax |
| C. | elephone expenses |
| D. | ffice expenses |
| Answer» D. ffice expenses | |
| 573. |
The process of grouping of costs according to some common characteristics ________. |
| A. | bsorption |
| B. | rimary distribution |
| C. | econdary distribution |
| D. | lassification |
| Answer» E. | |
| 574. |
Fixed cost per unit increases when _______. |
| A. | ariable cost per unit increases |
| B. | ariable cost per unit decreases |
| C. | roduction volume increases |
| D. | roduction volume decreases |
| Answer» E. | |
| 575. |
Comparing Rowan plan and Halsey plan, it is seen that when the time saved is less than 50% of the standard time ________._ |
| A. | owan plan allows more wages to a worker than Halsey plan |
| B. | owan plan allows less wages to a worker than Halsey plan |
| C. | owan and Halsey plan allow equal wages to a worker |
| D. | owan plan and Halsey plan are equal to ordinary time wage |
| Answer» B. owan plan allows less wages to a worker than Halsey plan | |
| 576. |
Given that for a job standard time is 8 hrs, actual time taken is 6 hrs and the time rate is Rs 2 per hr What is the total wages under Halsey premium plan? |
| A. | s. 12 |
| B. | s. 14 |
| C. | s. 16 |
| D. | s. 18 |
| Answer» C. s. 16 | |
| 577. |
Labour productivity can NOT be measured by comparing ________. |
| A. | ctual time with standard time |
| B. | otal output with total man hours |
| C. | dded value for the product with total wage cost |
| D. | otal wage and total output |
| Answer» E. | |
| 578. |
Time keeping refers to _______. |
| A. | ime spent by worker on their job |
| B. | ime spent by workers in the factory |
| C. | ime spent by workers without work |
| D. | ime spent by workers off their job |
| Answer» C. ime spent by workers without work | |
| 579. |
The ascertainment of costs after they have been incurred is known as _________. |
| A. | arginal costing |
| B. | istorical costing |
| C. | unk cost |
| D. | otional cost |
| Answer» C. unk cost | |
| 580. |
Cost unit of a sugar industry can be ________. |
| A. | er litre |
| B. | er tonne |
| C. | er acre |
| D. | er metre |
| Answer» C. er acre | |
| 581. |
Toy manufacturing industry should use _______. |
| A. | nit costing |
| B. | rocess costing |
| C. | atch costing |
| D. | ultiple costing |
| Answer» D. ultiple costing | |
| 582. |
Cost accounting concepts include all the following except ________. |
| A. | lanning |
| B. | ontrolling |
| C. | rofit sharing |
| D. | roduct costing |
| Answer» D. roduct costing | |
| 583. |
Depreciation of plant and machinery is a part of ________. |
| A. | actory overhead |
| B. | elling overhead |
| C. | istribution overhead |
| D. | dministration overhead |
| Answer» B. elling overhead | |
| 584. |
Prime cost includes _______. |
| A. | irect materials, direct wages and indirect expenses |
| B. | ndirect materials and indirect labour and indirect expenses |
| C. | irect materials, direct wages and direct expenses |
| D. | irect materials, indirect wages and indirect expenses |
| Answer» D. irect materials, indirect wages and indirect expenses | |
| 585. |
Cost of sales plus profit is _______. |
| A. | elling price |
| B. | alue of finished product |
| C. | alue of goods produced |
| D. | alue of stocks |
| Answer» B. alue of finished product | |
| 586. |
Total of all direct costs is termed as ________. |
| A. | rime cost |
| B. | orks cost |
| C. | ost of sales |
| D. | ost of production |
| Answer» B. orks cost | |
| 587. |
Tender is an _______. |
| A. | stimation of profit |
| B. | stimation of cost |
| C. | stimation of selling price |
| D. | stimation of units |
| Answer» D. stimation of units | |
| 588. |
Indirect material scrap is adjusted along with ________. |
| A. | rime cost |
| B. | actory cost |
| C. | abour cost |
| D. | ost of goods sold |
| Answer» C. abour cost | |
| 589. |
Warehouse rent is a part of ________. |
| A. | rime cost |
| B. | actory cost |
| C. | istribution cost |
| D. | roduction cost |
| Answer» D. roduction cost | |
| 590. |
Multiple costing is a technique of using two or more costing methods for ascertainment of cost by _______. |
| A. | he same firm |
| B. | he several firms |
| C. | he same industry |
| D. | he several industries |
| Answer» B. he several firms | |
| 591. |
Cost accounting was developed because of the _________. |
| A. | imitations of the financial accounting |
| B. | imitations of the management accounting |
| C. | imitations of the human resource accounting |
| D. | imitations of the double entry accounting |
| Answer» B. imitations of the management accounting | |
| 592. |
Costing refers to the techniques and processes of ________. |
| A. | scertainment of costs |
| B. | llocation of costs |
| C. | pportion of costs |
| D. | istribution of costs |
| Answer» B. llocation of costs | |
| 593. |
Defectives ________. |
| A. | annot be rectified and made into good units |
| B. | an be rectified and mad made into good units |
| C. | an be a part of finished product |
| D. | an be termed as spoilage |
| Answer» C. an be a part of finished product | |
| 594. |
The purpose of financial accounting is to provide information for ________. |
| A. | ixing prices |
| B. | ontrolling cost |
| C. | ocating factors leading to wastages and losses |
| D. | ssessing the profitability and financial position of the firm |
| Answer» E. | |
| 595. |
Classification of cost is useful ________. |
| A. | o find gross profit |
| B. | o find net profit |
| C. | o identify costs |
| D. | o identify efficiency |
| Answer» D. o identify efficiency | |
| 596. |
Contract a/c is _______. |
| A. | nominal a/c |
| B. | real a/c |
| C. | personal a/c |
| D. | ither nominal or real a/c |
| Answer» B. real a/c | |
| 597. |
The basis for the payment of cash by contractee under contract is ________. |
| A. | ork certified |
| B. | ork uncertified |
| C. | ontract cost |
| D. | alue of plant used in the contract |
| Answer» B. ork uncertified | |
| 598. |
Batch costing is useful to determine ________. |
| A. | aximum quantity of output |
| B. | inimum quantity of output |
| C. | conomic batch quantity |
| D. | rofit of batches |
| Answer» D. rofit of batches | |
| 599. |
Operating costing is suitable for _______. |
| A. | ob order business |
| B. | ontractors |
| C. | ugar industries |
| D. | ervice industries |
| Answer» E. | |
| 600. |
Overhead cost is the total of ________. |
| A. | ll indirect costs |
| B. | ll direct costs |
| C. | ndirect and direct costs |
| D. | ll specific costs |
| Answer» B. ll direct costs | |