Cost Accounting Quiz

Costing is a technique of

• Inventory control

• Management control

• Ascertainment of cost

• Calculation of cost

• Reduction of cost

Cost accounting has been developed because of ......... of financial accounting.

• limitations

• expenditure

• statutory requirements

• both (a) and (b)

• None of these

Cost accountancy is the science, art and .......... of cost accountant.

• Profession

• Management

• Administration

• Practice

• All of these

The total of all direct expenses is known as

• Total cost

• Overhead

• Prime cost

• Work cost

• None of these

An opportunity cost is a

• Direct expense

• Indirect expense

• Variable expense

• Fixed expense

• Semi-variable expense

Work cost is the total of

• Direct cost

• Indirect cost

• Variable cost

• Controllable cost

• Uncontrollable cost

Opportunity cost does not involve

• Cash inflow

• Cash outflow

• Cash outlay

• Either (a) or (b)

• None of these

Depreciation is ...........expenditure.

• variable

• Fixed

• Direct

• Indirect

• Semi-variable

Out of pocket payment involves payment to

• Managers

• Promoters

• Directors

• Shareholders

• Outsiders

Value added is the change in

• Face value

• Market value

• Book value

• Realizable value

• None of these