WorksheetsCost Accounting
Total questions: 10
Worksheet time: 2mins
Name
Class
Date
1.
Cost Accounting is...
a)
the recording of all the costs incurred in a business
b)
the recording of all the expenses incurred in a business
c)
the recording of all the direct costs incurred in a business
d)
the recording of all the revenue incurred in a business
2.
Cost unit is calculated as
a)
Total Expense/Quantity
b)
Quantity/Total Cost
c)
Total Cost/Quantity
d)
Quantity/Total Expense
3.
Cost is classified into:
a)
Cost and expense
b)
Expense and revenue
c)
Indirect expense and Overheads
d)
Direct cost and Indirect cost
4.
Prime cost is calculated as:
a)
Direct Material+Direct Labour+Direct Expense
b)
Direct Labour - DirectExpense
c)
Direct Expense+overheads
d)
Direct Cost + Indirect Cost
5.
a)
Worker
b)
Labour
c)
Inventory
d)
Cost
6.
Total Cost =
a)
Direct Cost + Indirect Cost
b)
Prime Cost + Factory Overhead
c)
Direct Expense + Indirect Expense
d)
Prime Cost + Production Cost
7.
Costs that possess characteristics of both fixed and variable cost are called...
a)
Semi-variable cost
b)
Step cost
c)
variable cost
d)
fixed cost
8.
Remains fixed cost until production increases above certain limit:
a)
Step Cost
b)
Fixed Cost
c)
Semi-variable cost
d)
Variable cost
9.
Depreciation charged on fixed asset is...
a)
Unexpired cost
b)
Fixed Cost
c)
Expired Cost
d)
Product Cost
10.
Total Variable Cost is ____________ Production
a)
inversely proportional to
b)
equal to
c)
half of
d)
proportional to
100 %
