Costing MCQs

Previous Practice: Cost Accounting MCQs

Next Practice: Cost of Goods Sold MCQs



Costing MCQs (1-10)

Click The Option and See Result

1. Revenue minus all direct costing of making the goods or supplying the services is known as?

Correct! Wrong!

2. During costing process, to arrive at the gross profit of a trading business, which one of the following formula is applied?

Correct! Wrong!

3. Direct expenses are?

Correct! Wrong!

4. Net Purchases equal the invoice amount and?

Correct! Wrong!

5. Cost of Goods sold is classified as which type of account?

Correct! Wrong!

6. Consider the following information for costing purpose?

Correct! Wrong!

7. Which of the following would not be considered a component of 'cost' of Goods Sold?

Correct! Wrong!

8. Which of the following is used to determine the cost of goods sold?

Correct! Wrong!

9. Which of the following would not be considered as a component of 'cost' of stock?

Correct! Wrong!

10. As a costing team member, calculate the gross profit if; Sales Rs. 6000; cost of sales Rs. 5,000; opening stock Rs. 1,000; purchases Rs. 4,000; wages Rs. 2,000 and office rent Rs. 1,000?

Correct! Wrong!

 

>> Read explanation, example of Costing



Costing MCQs (11-20)

Click The Option and See Result

11. Selling expenses are shown in which of the following statement?

Correct! Wrong!

12. Which one of the following could not be used to describe a summary of a company's assets, liabilities and capital at a specific date?

Correct! Wrong!

13. All Indirect factory cost is record under costing head?

Correct! Wrong!

14. If business purchases goods for resale purposes, such purchases are charged to?

Correct! Wrong!

15. Costing information can be used for?

Correct! Wrong!

16. Which one of the following types of costs is most likely to be included in determining the cost of inventory?

Correct! Wrong!

17. Which of the following equation is correct and used in costing?

Correct! Wrong!

18. The Synonyms of financial statements are?

Correct! Wrong!

19. Profit is the difference between?

Correct! Wrong!

20. Following are the inventories of Manufacturing Concern except?

Correct! Wrong!

 

>>Practical Costing Problems and Solutions

References

Cost Accounting For Dummies – By Kenneth W. Boyd

Fundamentals Of Cost Accounting – By William Lanen, Shannon Anderson Et.Al

Cost Accounting Fundamentals – By Steven M. Bragg

Cost Accounting Made Simple – By Mike Piper

Principles Of Cost Accounting – By Maria R. Mitchell

Fundamentals Of Cost Accounting 5th Edition – By William Lanen, Shannon Anderson, And Michael Maher

9 Comments

  1. I am extremely impressed together with your writing skills as well as with the layout for your weblog. It’s rare to look a nice weblog like this one today..

    Reply
  2. I’ve been surfing on-line more than three hours today, yet I never found any attention-grabbing article like yours. It’s pretty worth sufficient for me.
    In my opinion, if all web owners and bloggers made good content material as you probably did, the web will likely be a lot more useful than ever before.

    Reply
  3. Great MCQs. Thank you for helping my cost accounting exam…

    Reply
  4. This page is very helpful for cost accounting exam. Thank you Sir.

    Reply
  5. Very interesting MCQs for accounting.

    Reply
  6. What about above mentioned mcqs answers

    Reply
  7. Mcqs करने के बाद कैसे पता करें कि सही हैor गलत है

    Reply
  8. Good work for better understanding of the students.

    Reply
  9. very useful

    Reply

Submit a Comment

Your email address will not be published. Required fields are marked *