Cost accounting objective questions with answers pdf

  • What is cost principle Mcq?

    The cost concept is a traditional method concerning that the asset is paid on the date of purchase and is not changed year after year.
    The word 'cost' is also known as 'money cost', which is linked with the capital expenditure of a company..

  • What is the objective of the cost statement?

    Determining cost: The main objective of the cost sheet is to obtain an accurate product cost.
    It gives you both the total cost and cost per unit of a product. 2.
    Fixing selling price: In order to fix the selling price of a product, you need to create a cost sheet so you can see the details of its production cost..

  • Solution(By Examveda Team)
    Cost Unit is defined as Unit of quantity of product, service or time in relation to which costs may be ascertained or expressed.

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