Cost And Management Accounting Set 7
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This set of Cost and Management Accounting (CMA) Multiple Choice Questions & Answers (MCQs) focuses on Cost And Management Accounting Set 7
Q1 | Service costing is called as ……………….
- operation costing
- operating costing
- multiple costing
- none of these
Q2 | In electricity supply company uses ...................... as cost unit.
- kilo watt hour
- per household
- voltage
- none of these
Q3 | In transportation costing a composite unit such as.......................is used.
- passenger mile/km or ten kilometer
- per km
- per passenger
- per stop
Q4 | Boiler house costing is an example of..........................costing
- operation
- process
- service
- none of these
Q5 | In service costing, fixed charges are also called as…………………..
- standing charges
- variable charges
- fixed charges
- none of these
Q6 | Service costing is not used in one of the following:
- electricity
- hospitals
- transport
- electronics
Q7 | If the present cost of the car is Rs.1,00,000 residual value at the endof the 5th year is Rs.20,000, the monthly depreciation is…………
- rs.20,000
- rs.16,000
- rs.1,333
- rs.17,333
Q8 | A bus carries 25 passengers daily for 25 days and its mileage permonth is 1000 kms. Its passenger miles are………………
- 30,000
- 12,500
- 20,000
- 25,000
Q9 | In ……………………costing where standardized goods or services result from a sequence of repetitive and more or less continuous operations towhich costs are collected and averaged over the units produced during the year:
- multiple
- process
- operation
- single.
Q10 | The method of costing applied in biscuit industries is...................costingand in steel industry…............. costing.
- job, process
- job, contract
- batch, multiple
- process, operation
Q11 | Average unit cost for each process is calculated by dividing the………………..by…………………
- total cost, number of units
- total process cost, number of units in process
- total process cost, number of finished goods
- total cost, number of units produced
Q12 | Where raw material is to pass certain stages, before it is convertedinto finished goods, the method of costing used is…………………
- job costing
- operating costing
- process costing
- both b and c
Q13 | When the actual loss is more than the estimated loss, the differencebetween the two is considered to be………..
- abnormal loss
- normal loss
- loss
- none of these
Q14 | When actual loss is less than the estimated loss, the differencebetween the two is considered to be……………
- abnormal gain
- abnormal loss
- normal loss
- income
Q15 | When actual loss is................than the estimated loss, the differencebetween the two is considered to be abnormal gain
- more
- less
- higher
- none of these
Q16 | When actual loss is..........................than the estimated loss, the differencebetween the two is considered to be abnormal loss.
- more
- less
- both a & b)
- none of these
Q17 | When 1000 units are 60% complete in a process, it is equivalent to…………….completed units.
- 60
- 600
- 6000
- 1000
Q18 | Equivalent units represent the production of a process in terms of…..units.
- completed
- total production
- semi-finished
- both a& c
Q19 | .............……….process loss should be transferred to costing profit & lossaccount.
- abnormal
- normal
- both a& b
- none of these
Q20 | The cost of......................process loss is absorbed in the cost of production ofgood units.
- abnormal
- normal
- both a & b
- none of these
Q21 | In inter process profits, the output of one process is transferred fromone process to another not at …………….but at ……………….
- market price, actual cost
- actual cost, market price
- both a& b
- none of these
Q22 | Where actual loss in a process is less than the anticipated loss, thedifference between the two is considered to be ………………..
- abnormal loss
- normal loss
- abnormal gain
- normal gain
Q23 | In process costing, the abnormal loss is treated as .............. cost and writtenoff to profit & loss account.
- unit
- period
- future
- process
Q24 | The process costing is not used in one of the following.
- chemical
- textiles
- cement
- oil refining
Q25 | …..arises where the actual process loss is less than the normal predeterminedprocess loss.
- normal loss
- abnormal loss
- abnormal gain
- none of these