On This Page
This set of Applied Cost Accounting Multiple Choice Questions & Answers (MCQs) focuses on Applied Cost Accounting Set 2
Q1 | A cost both containing both fixed and variable elements ………………..
- Variable cost
- fixed cost
- total cost
- semi variable cost
Q2 | The excess of sales over variable cost is known as ………………
- profit
- loss
- contribution
- margin
Q3 | Establishes the relationship between cost , volume of sales and profit is…..
- Marginal costing
- standard costing
- budgeting
- Cost volume profit analysis
Q4 | A point at which there is neither profit nor loss ………………
- No profit no loss point
- Break even point
- Margin of safety
- contribution
Q5 | Excess of sales over break even sales is known as …………………..
- No profit no loss point
- Breakeven point
- Margin of safety
- contribution
Q6 | The angle formed at the point of incidence of sales line to total cost…….
- Angle of incidence
- break even point
- Fixed cost
- total cost
Q7 | A factor that restrict the activities of a concern ……………..
- Contribution factor
- break even point
- Key factor
- margin of safety
Q8 | …….. is method of cost volume profit analysis
- Budgeting
- budgetary control
- Standard costing
- break even analysis
Q9 | The additional cost of producing an additional unit is called ……….
- Fixed cost
- marginal cost
- Semi variable
- none of these
Q10 | Variable cost can also be called as …………………………
- Semi variable
- marginal cost
- Standard costing
- fixed cost
Q11 | Break even units can also be called as ………………………
- Break even output
- break even sales
- Margin of safety
- contribution
Q12 | Sales – variable cost = ……………………………………..
- Marginal cost
- fixed cost
- Budget cost
- contribution
Q13 | Excess of actual sales over break even sales is …………………
- Break even unit
- angle of incidence
- Margin of safety
- contribution
Q14 | The angle formed were the total cost line under sects the sale line is
- Angle of incidence
- margin of safety
- Breakeven point
- contribution
Q15 | The cost which varies proportionate to increase in production is …….. cost
- Fixed
- variable cost
- Semi variable cost
- break even cost
Q16 | The cost which remains constant with change in level of activities iscalled
- Variable cost
- marginal cost
- Standard cost
- fixed cost
Q17 | ……………….. is an angle formed in break even chart
- Margin of safety
- angle of incidence
- Contribution
- Break even point
Q18 | …………… is a graphical representation of marginal costing
- Break even chart
- angle of incidence
- Margin of safety
- none of these
Q19 | Contract price is fixed in advance
- Cost plus contract
- Target costing
- Fixed price contract
- Fluctuating contract
Q20 | Contract price is the cost of work done plus a percentage
- Cost plus contract
- target costing
- Fixed price contract
- fluctuating contract
Q21 | Value of work done to the satisfaction of contractee
- Work certified
- Work un certified
- Fixed price contract
- fluctuating contract
Q22 | A portion of work certified retained by contractee is known
- Retention money
- advance
- Fixed price contract
- fluctuating contract
Q23 | Profit on incomplete contract is known as ,………..
- P/L a/c
- notional profit
- Net profit
- completed contract
Q24 | Work in the process of completion
- Work in progres
- notional profit
- Net profit
- completed contract
Q25 | A portion of main contract entrusted to some one else
- Extra work
- Sub work
- Work in progress
- Sub contract