Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Cost Accounting -2

1. Standard costs is…………………

(A) Predetermined cost
(B) budgeted cost
(C) Actual cost
(D) none of these



2. ……………………are costs which have been applied against revenue of particular accounting period.

(A) Expenses
(B) income
(C) loss
(D) none of these



3. ……………….is the smallest segment of activity or area or responsibility for which costs are accumulated.

(A) Cost Object
(B) Cost centre
(C) cost driver
(D) none of the above


4. The primary emphasis of………………..cost is on the planning function of management.

(A) Budgeted
(B) standard
(C) period
(D) none of these



5. …………..cost is irrecoverable cost.

(A) marginal
(B) out of pocket
(C) Sunk
(D) none of these


6. ……………….is the value of a benefit where no actual cost is incurred.

(A) Imputed
(B) sunk
(C) out of pocket
(D) none of these



7. ……………is the cost which involves payment to outsiders.

(A) Out of pocket cost
(B) Imputed cost
(C) notional cost
(D) none of these



8. ………………… is the maximum possible alternative earning that might have been earned if the productive capacity is put to some alternative use.

(A) Opportunity
(B) incremental revenue
(C) alternative revenue
(D) none of these



9. An item of cost that is direct for one business may be …………..for another business.

(A) Important
(B) direct
(C) Indirect
(D) none of the above.


10. The total of all direct expenses is known as …………..cost.

(A) Prime
(B) Works
(C) Production
(D) both a & b




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