Cost Accounting MCQs and Notes

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📊 Cost Accounting
Q. Cost behaviour refers to
  • (A) how costs react to a change in the level of activity
  • (B) whether a cost is incurred in a manufacturing trading or service company
  • (C) classifying costs as either product or period costs
  • (D) whether a particular expense has been incurred honestly
💬 Discuss
✅ Correct Answer: (A) how costs react to a change in the level of activity
📊 Cost Accounting
Q. Which of the following is not function of Cost Accounting
  • (A) cost ascertainment
  • (B) planning and control
  • (C) decision making
  • (D) external reporting
💬 Discuss
✅ Correct Answer: (D) external reporting
📊 Cost Accounting
Q. Cost Accounting is directed towards the needs of
  • (A) government
  • (B) external users
  • (C) internal users
  • (D) shareholders
💬 Discuss
✅ Correct Answer: (C) internal users
📊 Cost Accounting
Q. Which of the following statements is false ?
  • (A) the limitations of financial accounting have led to the origin and evolution of cost accounting
  • (B) financial accounts fail to give a product wise break up of profit or loss
  • (C) financial accounts helps to judge the efficiency or productivity of the concern
  • (D) cost accounting techniques helps the management in making decision or planning for future
💬 Discuss
✅ Correct Answer: (C) financial accounts helps to judge the efficiency or productivity of the concern

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