Cost Accounting MCQs and Notes
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Q 1. Loss which unavoidable on account of inherent nature of production processes is
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Q 2. The sum of value of work certified and uncertified appearing in the contract account is called
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Q 3. Work which has been done but not certified is called
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Q 4. The determination of EBQ is influenced by the following factors:
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Q 5. Batch costing is a form of specific order/job costing where the cost per unit is ascertained by _________ the total cost of a batch by the number of items produced in that batch.
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Q 6. Job Costing is suitable for
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Q 7. The first step in a job order cost procedure is
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Q 8. Each job has a ______ prepare for it that bears the job number and which is used to collect all cost data relating to job.
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Q 9. Contract costing is specialized system of job costing applies to _____ contracts.
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Q 10. The sum of value of work certified and uncertified appearing in the Contract Account is called
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