McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Master of Commerce (M.com) .
| 101. |
Public utility undertakings must invariably adopt--------- |
| A. | Operating costing |
| B. | Output costing |
| C. | Contract costing |
| D. | Multiple costing |
| Answer» D. Multiple costing | |
| 102. |
Kerala Electricity Board must make use of----------- |
| A. | Single or unit costing |
| B. | Job costing |
| C. | Process costing |
| D. | Operating cost |
| Answer» A. Single or unit costing | |
| 103. |
The method of costing used in case of a gas company is termed as--------- |
| A. | Job costing |
| B. | Process costing |
| C. | Operating costing |
| D. | Contract costing |
| Answer» C. Operating costing | |
| 104. |
Mines `A’ and `B’ are at a distance of 10 kms and 15 kms from the factory. The cost per tonne-km in case of mine A is Rs. 3 while it is R. 2.5 in case of mine B. The factory should procure coal from------------ |
| A. | Mine A only |
| B. | Mine B only |
| C. | Both from mines A and B in the ration of 3: 2 |
| D. | Can’t decide. |
| Answer» A. Mine A only | |
| 105. |
In case of steam company, the cost per unit is calculated on the basis of--------- |
| A. | Total quantity of lbs. produced |
| B. | Total quantity of kwh generated |
| C. | Total quantity of tones produced |
| D. | Any of the above. |
| Answer» A. Total quantity of lbs. produced | |
| 106. |
Calendar variance is the sub variance of --------------- |
| A. | Labour variances |
| B. | Sales variances |
| C. | Fixed Overhead variances |
| D. | Variable Overhead variances |
| Answer» C. Fixed Overhead variances | |
| 107. |
Which of the following is /are support activity in Value Chain Analysis? |
| A. | Procurement |
| B. | Firms’ infrastructure |
| C. | HRM |
| D. | All of these. |
| Answer» D. All of these. | |
| 108. |
Which of the following is /are primary activity in Value Chain Analysis? |
| A. | Procurement |
| B. | Firms’ infrastructure |
| C. | HRM |
| D. | Service |
| Answer» D. Service | |
| 109. |
----------- variance is always adverse. |
| A. | Material yield variance |
| B. | Labour rate variance |
| C. | Idle time variance |
| D. | None of these |
| Answer» C. Idle time variance | |
| 110. |
----------- are those products which are manufactured in different varieties by the same industry. |
| A. | Joint products |
| B. | By products |
| C. | Co-products |
| D. | All of these |
| Answer» C. Co-products | |
| 111. |
---------- means ‘Change for better’. |
| A. | Kanban |
| B. | Kaizen |
| C. | Sigma |
| D. | Seitan |
| Answer» B. Kaizen | |
| 112. |
Lean manufacturing can be achieved by using----------- |
| A. | Activity based costing |
| B. | Target costing |
| C. | Just in Time |
| D. | Life cycle costing |
| Answer» C. Just in Time | |
| 113. |
----------is the cost attribution to the cost unit on the basis of benefits received from indirect activities. |
| A. | Activity based costing |
| B. | Target costing |
| C. | Backflush costing |
| D. | Life cycle costing |
| Answer» A. Activity based costing | |
| 114. |
Traditional absorption costing is ---------- |
| A. | Activity based |
| B. | Volume based |
| C. | Transaction based |
| D. | All the above |
| Answer» B. Volume based | |
| 115. |
In Activity based costing, importance given to----------- |
| A. | Direct Cost |
| B. | Relevant cost |
| C. | Overhead |
| D. | Opportunity cost |
| Answer» C. Overhead | |
| 116. |
------------ is the item of product. Job, process or customer for which cost are to be determined. |
| A. | Cost Driver |
| B. | Cost object |
| C. | Cost pool |
| D. | Cost concept |
| Answer» B. Cost object | |
| 117. |
‘Cost of Procurement’ is an example of--------------- |
| A. | Cost Driver |
| B. | Cost object |
| C. | Cost pool |
| D. | Cost Centre |
| Answer» C. Cost pool | |
| 118. |
----------- in Activity Based Costing is like ‘cost centre’ in traditional costing. |
| A. | Activity Cost Driver |
| B. | Cost object |
| C. | Cost pool |
| D. | Resource Cost driver. |
| Answer» C. Cost pool | |
| 119. |
---------- cost is also known as hypothetical or notional cost. |
| A. | Opportunity cost |
| B. | Out of pocket cost |
| C. | Imputed cost |
| D. | Relevant cost |
| Answer» C. Imputed cost | |
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