MCQs on Cost Accounting -1

1. ……………………provides information for income determination.

(A) Financial accounting
(B) cost accounting
(C) management accounting
(D) none of these



2. ……………….helps in ascertaining costs beforehand.

(A) Financial accounting
(B) cost accounting
(C) management accounting
(D) none of these



3. The scope of cost accounting include…………..,…………… and……………

(A) Cost ascertainment, cost presentation, cost control
(B) tax planning, tax accounting, financial accounting
(C) presentation of accounting information, creation of policy, day-to day operation
(D) none of the above



4. Cost accounting disclose …………….

(A) The Financial position
(B) profit/loss of a product, job or service
(C) effect and impact of cost on business
(D) none of these



5. ………..is a post mortem of past costs.

(A) Financial accounting
(B) cost accounting
(C) both a & b
(D) none of these



6. ………………….aids in price fixation.

(A) Financial accounting
(B) cost accounting
(C) management accounting
(D) none of these



7. ………………is the oldest branch of accounting.

(A) Financial accounting
(B) cost accounting
(C) management accounting
(D) none of these



8. ……………..includes financial and cost accounting, tax planning and tax accounting.

(A) Financial accounting
(B) cost accounting
(C) management accounting
(D) none of these



9. In automobile, …………………costing is used

(A) Process
(B) batch
(C) job
(D) multiple 



10. Service costing is used in industries producing………………

(A) Products
(B) service
(C) both a & b
(D) none of these




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