Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Cost Accounting -3

1. The principle types of inventories are raw materials and ,…………and finished goods

(A) Processed materials
(B) Goods-in-progress
(C) stored goods
(D) goods for dispatch



2. Re-ordering level = Maximum consumption x …………………………

(A) Average re-order period
(B) Maximum usage
(C) Maximum re-order period
(D) Normal usage



3. Inventory turnover ratio = Cost of inventory consumed during the period ÷ Cost of ……………………held during the period

(A) Average inventory
(B) minimum inventory
(C) maximum inventory
(D) none of these



4. Inventory turnover in days = Days during the period ÷………………..

(A) Inventory turnover ratio
(B) material consumed during the period
(C) cost of average stock during the period
(D) none of these



5. ………….is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory

(A) ABC Analysis
(B) JIT Inventory System
(C) VED Analysis
(D) Perpetual Inventory System



6. ………………is a technique of stock control which leads to saving of time of the management because attention is required to be paid only to some of the items rather than on all the items.

(A) ABC Analysis
(B) JIT Inventory System
(C) VED Analysis
(D) Perpetual Inventory System



7. ……………….. is used primarily for control of spare parts.

(A) ABC Analysis
(B) JIT Inventory System
(C) VED Analysis
(D) Perpetual Inventory System



8. Inventory turnover ratio = Cost of …………………..during the period ÷Cost of average inventory held during the period.

(A) Inventory consumed
(B) minimum inventory
(C) maximum inventory
(D) none of these



9. Re-ordering level = ……………………. X Maximum re-order period

(A) Average re-order period
(B) Maximum usage
(C) Maximum consumption
(D) Normal usage



10. ……………obviates the necessity for the physical checking of all items of stores at the end of the year and thereby avoids dislocation of production.

(A) ABC Analysis
(B) JIT Inventory System
(C) VED Analysis
(D) Perpetual Inventory System




More MCQs on Cost Accounting

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