Cost and Managerial Accounting MCQS With Answers 141 to 150

 

Cost and Managerial Accounting

141. Costing and cost accounting are ______________

1. Not the same
2. one and the same
3. not related at all
4. none of these.

Correct answer: (A)
Not the same

142. ______________ is one which can be conveniently identified with and charged to a particular unit of cost.

1. Direct cost
2. Indirect cost
3. Overhead
4. none of these

Correct answer: (A)
Direct cost

143. The primary emphasis of ______________ cost is on the planning function of management.

1. Budgeted
2. standard
3. period
4. none of these

Correct answer: (A)
Budgeted

144. An opportunity cost is ______________

1. the advantage foregone
2. the cost
3. the income
4. none of the above.

Correct answer: (A)
the advantage foregone

145. Depreciation is ______________ expenditure.

1. fixed
2. variable
3. adjustable
4. Semi-variable

Correct answer: (D)
Semi-variable

146. Stores Ledger is maintained in the ______________

1. Store
2. finance department
3. cost accounting department
4. Both a & b

Correct answer: (C)
cost accounting department

147. Material abstract is also known as ______________

1. Material issue analysis sheet
2. bill of materials
3. stores ledger
4. none of the above

Correct answer: (A)
Material issue analysis sheet

148. Specific price method of valuing material issue is used when ______________

1. Materials are purchased for specific job or work order
2. materials are subject to natural wastage
3. prices fluctuate
4. none of these

Correct answer: (A)
Materials are purchased for specific job or work order

149. The principle types of inventories are raw materials and , ______________ and finished goods

1. Processed materials
2. Goods-in-progress
3. stored goods
4. goods for dispatch

Correct answer: (B)
Goods-in-progress

150. ______________ is a technique of stock control which leads to saving of time of the management because attention is required to be paid only to some of the items rather than on all the items.

1. ABC Analysis
2. JIT Inventory System
3. VED Analysis
4. Perpetual Inventory System

Correct answer: (A)
ABC Analysis