Cost and Works Accounting MCQs With Answers 11 to 16

 

11. Which of the following cost is also known as overhead cost or on cost:

A. Cost of direct labour

B. Cost of direct material

C. Direct expenses

D. Indirect expenses

D. Indirect expenses

12. Which of the following calculate the actual cost of product:

A. Cost estimation

B. Costing

C. Both a and b

D. None of these

D. None of these

13. Costing is specialized branch of accounting which deals with:

A. Classification, recording, allocation, and control of asset

B. Classification, processing, allocation and directing

C. Classification, recording, planning and control of asset

D. Classification, recording, allocation and directing

D. Classification, recording, allocation and directing

14. In cinema halls, composite cost unit is ________________:

A. A seat per show

B. Cost of screening

C. Salary of staff

D. Rent of cinema hall

A. A seat per show

15. The stage of production at which separate products are identified is known as_______________:

A. Process costing

B. Reverse cost method

C. Subsequent cost

D. Equivalent production

A. Process costing

16. What item is not included in cost accounting?

A. Product costing

B. Profit-sharing

C. Planning

D. Controlling

B. Profit-sharing