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Cost and Works Accounting 1 MCQs: 154 Questions & Answers in Faculty

154 Cost and Works Accounting 1 MCQs in Faculty with answers & explanations. Page 6. Practice objective questions for competitive exams, interviews & self-as… Use the answer toggle below to show or hide all solutions, tap an option to check one question, or open a question for its own page.

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Cost and Works Accounting 1 MCQs: 154 Questions & Answers in Faculty

The system of purchasing from one’s customer preferred to others is known as

The document prepared on receipt of materials in store is known as

Purchase order is a legal binding contract only if it is

Right quality means

Telephone expense is a …………………. Expense

………………….. Cost per unit does not change with change in activity level

Depreciation is a ………….. Expense

In account ting for labour cost:

Which of the following is not used as a base for apportionment of administration overheads?

………………cost is predetermined cost for each element of cost.

The cost of activities relating to create and stimulate demand for company’s products and to secure orders is known as……….overheads.

Office overheads are also known as …………….overheads.

The overhead cost incurred from the stage of procurement of raw material till the stage of production of finished goods is known as…… .

The aggregate of indirect material, indirect labour and indirect expenses in termed as…………….

……………………..expenses are also called as chargeable expenses.

The expenses which cannot be directly identified with a particular unit or cost centre is known as …………………...

Direct Labour Cost is also known as…………

……………..cost is the cost of commodities supplied to an undertaking.

Material, Labour and Expenses are the three important…………. of cost.

Cost unit in a college may be…………

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