Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Cost Accounting -5

1. Material control does not cover the following stage.

(A) Purchase of materials
(B) storing of materials
(C) issue of materials
(D) production



2. Material control aims at achieving effective…………

(A) Material management
(B) quality control
(C) accounting of material
(D) material supply


3. Stores Ledger is maintained in the…………………

(A) Store
(B) finance department
(C) cost accounting department
(D) Both a & b


4. Stock verification sheets are maintained to record the results of ……….

(A) Physical verification
(B) financial control
(C) financial verification
(D) quality verification


5. Stock Adjustment Account is debited with ……….and credited with ………..

(A) Surplus, shortage of stock
(B) shortage of stock, surplus
(C) excess, loss
(D) none of these



6. Bin card is a record of ………….only.

(A) Cost
(B) value
(C) quantity
(D) expense


7. Bin card is maintained by the…………….

(A) Cost accountant
(B) Clerk
(C) storekeeper
(D) branch accountant


8. Material abstract is also known as ………………

(A) Material issue analysis sheet
(B) bill of materials
(C) stores ledger
(D) none of the above


9. Material should be issued by the store keeper against……………….

(A) Material requisition
(B) bill of materials
(C) both a & b
(D) none of these


10. First in first out method of valuing material issues is suitable in times of…………

(A) Rising prices
(B) falling prices
(C) fluctuating prices
(D) none of these




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