Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Cost Accounting -8

1. …………..process loss should be transferred to costing profit & loss account.

(A) Abnormal
(B) normal
(C) both a& b
(D) none of these


2. The cost of …………..process loss is absorbed in the cost of production of good units.

(A) Abnormal
(B) normal
(C) both a & b
(D) none of these



3. In inter process profits, the output of one process is transferred from one process to another not at …………….but at ……………….

(A) Market price, actual cost
(B) Actual cost, market price
(C) both a& b
(D) none of these



4. Where actual loss in a process is less than the anticipated loss, the difference between the two is considered to be ………………..

(A) Abnormal loss
(B) normal loss
(C) abnormal gain
(D) normal gain



5. In process costing, the abnormal loss is treated as ……….cost and written off to profit & loss account.

(A) Unit
(B) period
(C) future
(D) process



6. The process costing is not used in one of the following.

(A) Chemical
(B) textiles
(C) cement
(D) oil refining



7. ………….arises where the actual process loss is less than the normal predetermined process loss.

(A) Normal loss
(B) abnormal loss
(C) abnormal gain
(D) none of these



8. An input of 5000kg of material introduced into the process and the expected loss is 8% and if the actual output from the process is 4300, the abnormal loss is …………kg

(A) 400
(B) 600
(C) 500
(D) 300 



9. Budgeting system……………key managerial functions.

(A) Dismisses
(B) integrates
(C) discharges
(D) none of these



10. …………………is a budget which is updated continuously by adding a further period (a month/quarter) and deducting a corresponding earlier period.

(A) Rolling budget
(B) continuous budget
(C) annual budget
(D) both a & b



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