COST ACCOUNTING- 2

COST ACCOUNTING- 2

University

10 Qs

quiz-placeholder

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COST ACCOUNTING- 2

COST ACCOUNTING- 2

Assessment

Quiz

Arts

University

Practice Problem

Hard

Created by

Aswini Nagarajan

Used 75+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The main purpose of cost Accounting is to_______

Maximize profits

Help in inventory

Provide information to management for decision making

Aid in the fixation of Selling price

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

An example of fixed cost is____________.

Direct material cost

Works manager's r salary

Depreciation of machinery

Chargeable expenses

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The purpose of financial accounting is to provide information for___________.

Assessing the profitability and financial position of the firm

Fixing prices

Locating factors leading to wastages and losses

cost control

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The term 'Sunk cost' refers to______

cost that are directly influenced by unit manager

Past cost that are now irrevocable

Cost that should be incurred in a particular production process

Benefits lost from rejecting the next best alternative

5.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

On the basis of behavior, cost can be classified as_________,_____________ and________________.

6.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The main function of financial accounting is _____________reporting.

7.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The technique and process of ascertaining cost is known as________________.

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