TYBCOM Hons Advanced Cost Accounting Quiz

1. Normal Output is equal to _______.

• Input - Abnormal Loss

• Input - Normal Loss

• Input - Abnormal Gain

• Input - Output

2. Which of the following does not use Process Costing?

• Oil Refining

• Sugar

• Bakery

• Air-craft Manufacturing

3. A process gives rise, incidentally, to a product of low value, which is called ________.

• Joint Product

• By-Product

• Scrap

• Waste

4. Input in a process is 4000 units and normal loss is 20%. When finished output in the process is 3,240 units; then there is an _______.

• Abnormal loss of 40 units

• Abnormal Gain of 40 units

• Neither Abnormal Loss nor Abnormal Gain

• Abnormal Gain of 60 units

5. The cost of units of Abnormal Gain is debited to Process Account.

• True

• False

6. Classification and accumulation of costs by fixed and variable costs is a distinctive feature of _________.

• Process costing

• Unit costing Batch costing

• Operating costing

• Batch costing

7. For hotels the best method of costing is ________.

• Single or output

• Contract costing

• Process costing

• Operating costing

8. In case of goods transport company, the cost per unit is calculated on the basis of ________.

• Total quantity of lbs. produced

• Total quantity of kwh. generated

• Total quantity of tonnes transported

• Total quantity of passengers travelled

9. Mines `A’ and `B’ are at a distance of 10 kms and 15 kms from the factory. The cost per tone-km in case of mine A is Rs. 3 while it is R. 2.5 in case of mine B. The factory should procure coal from _______.

• Mine A only

• Mine B only

• Both from mines A and B in the ration of 3 : 2

10. Operating costing is used in case of service undertaking.

• True

• False