Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Cost Accounting -23

1. In ……………………costing where standardized goods or services result from a sequence of repetitive and more or less continuous operations to which costs are collected and averaged over the units produced during the year:

(A) Multiple
(B) Process
(C) Operation
(D) single.



2. The method of costing applied in biscuit industries is ………….costing and in steel industry………….costing.

(A) Job, process
(B) job, contract
(C) batch, multiple
(D) process, operation



3. Average unit cost for each process is calculated by dividing the ……………….. by …………………

(A) Total cost, number of units
(B) total cost, number of units produced
(C) Total process cost, number of finished goods
(D) total process cost, number of units in process 



4. Where raw material is to pass certain stages, before it is converted into finished goods, the method of costing used is…………………

(A) Job costing
(B) Operating costing
(C) Process Costing
(D) both b and c



5. When the actual loss is more than the estimated loss, the difference between the two is considered to be………..

(A) Abnormal loss
(B) normal loss
(C) loss
(D) none of these



6. When actual loss is less than the estimated loss, the difference between the two is considered to be……………

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



7. When actual loss is ………..than the estimated loss, the difference between the two is considered to be abnormal gain 

(A) More
(B) less
(C) higher
(D) none of these



8. When actual loss is ………………than the estimated loss, the difference between the two is considered to be abnormal loss.

(A) More
(B) less
(C) both a & b)
(D) none of these



9. When 1000 units are 60% complete in a process, it is equivalent to ……………. completed units.

(A) 60
(B) 600
(C) 6000
(D) 1000



10. Equivalent units represent the production of a process in terms of ………..units.

(A) Completed
(B) total production
(C) semi-finished
(D) both a& c




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