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Cost Accounting By Polemni
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cost accounting sample final exam
Cost Accounting
This will be very helpful for Anna University MBA Examination. I Did M.B.A 2011-2013 at Jei Mathaajee College of Engineering (Affiliated to Anna University).
1.
7.
Cost centres are created for
a.
segregating costs into fixed and variable
b.
control and fixing responsibility
c.
making decisions
d.
ascertaining profit
8.
Profit centre is
a.
a department ascertaining profit
b.
a centre for inventory valuation
c.
a responsibility centre in which performance is
Cost accounting is one of the subdivisions of
a.
management accounting
b.
financial accounting
c.
corporate accounting
d.
none of these
2.
The basic objective of cost accounting is
a.
recording of cost
b.
reporting of cost
c.
cost control
d.
profit earning
3.
Cost objects are
a.
costing systems
b.
costing methods
c.
cost estimates
d.
cost unit and cost centre
4.
Cost unit is used for
a.
cost control
b.
cost reduction
c.
resources foregone
d.
ascertainment of cost
5.
Cost incurred is identified with
measured d.
none of these
9.
Cost control refers to
a.
a continuous action by members of an undertaking
b.
a remedial measures by purchase department
c.
action by production department
d.
none of these
10. Cost reduction can be attained by
a.
reducing volume of production
b.
reducing volume of sale
c.
without affecting the quality or value of goods produced
d. a.
(cost) unit of output
b.
cost control
c.
cost reduction
d.
none of these
6.
The methods used for the calculation of cost
reducing prices
11. Conversion cost excludes
a.
direct material cost
b.
direct Labour cost
c.
direct expenses
d.
all the above
per unit are known as 12. Fixed cost per unit decreases when a.
costing methods
b.
costing procedure
c.
costing systems
d.
none of these
a.
a volume of production decreases
b.
volume of production increases
c.
volume of sales increases
d.
volume of sales decreases
13. Variable cost increases in total due to
19. Batch costing is suitable for
a.
increase in sales
a.
construction
b.
increase in profit
b.
brick making
c.
increase in volume of production
c.
cutting-tool manufactures
d.
all of the above
d.
general-purpose machine tool manufactures
14. Imputed cost is a
20. Cost of production is
a.
Differential cost
a.
factory cost + administration overhead
b.
Fixed cost
b.
factory cost + prime cost
c.
Variable cost
c.
prime cost + factory cost
d.
Notional cost
d.
prime cost + factory overheads
15. Conversion cost includes:
21. Mention two objectives of cost accounting. 22. State any four items which are not included
