Cost management mcq

  • What is cost principle in 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 cost concept 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..

Sep 22, 2023Cost and Management Accounting MCQs involves the identification, measurement, analysis, and interpretation of costs to support managerial 

What if standard cost is more than actual cost?

If the standard cost is more than the actual cost, the variance will be favorable and on the other hand, if the actual cost is more than the standard cost the variance will be unfavorable or adverse.
Therefore, if Product A requires 10 kg of material at the rate of Rs. 5 per kg.

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What is cost and management accounting MCQ?

By answering Cost and Management Accounting MCQ, individuals can enhance their knowledge and skills in analyzing and controlling costs, optimizing resource allocation, and making informed business decisions.
The correct answer is a - i, b - iv, c - ii, d - iii.

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Which is the correct option in the activity-based cost allocation?

Therefore, option 1 is the correct answer.
Following are the steps in the activity-based cost allocation:

  • Litt in one of his articles commented
  • “ Activity-based costing (ABC) is an accounting technique that utilizes cost attachment rather than cost allocation to determine the actual cost of products and services ”.
    • ,

    Why was cost accounting developed?

    Cost accounting was developed because of the A. limitations of the financial accounting.
    B. limitations of the management accounting.
    C. limitations of the human resource accounting.
    D. limitations of the double entry accounting.
    ANSWER:

  • A 10.
    Multiple costing is a technique of using two or more costing methods for ascertainment of cost .

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