Q. Variable cost increases
✅ Correct Answer: (B)
As the production goes up
Cost and Works Accounting 1 MCQs and Notes
Q. Statement prepared to show the different elements of cost
✅ Correct Answer: (B)
Cost sheet
Q. If cost of sales exceeds sales it will be
✅ Correct Answer: (B)
Loss
Q. Cost of production is also called ………………..if there is no selling and distribution expense
✅ Correct Answer: (B)
Office cost
Q. Direct expense are also called ……………………. Expenses.
✅ Correct Answer: (B)
Chargeable
Q. Machine hour rate in the cost of running a machine
✅ Correct Answer: (B)
Per day
Q. ………. is the cost incurred in the part has no effect on future decision making
✅ Correct Answer: (A)
Sunk cost
Q. …………………. Is defined on the guidance and regulation by executive action of cost operating and under taking
✅ Correct Answer: (A)
Cost reduction
Q. ………………. May be a location, a person, or an item of equipment or group of there
✅ Correct Answer: (B)
Cost unit
Q. Cost accounting is the art, science and …………… cost of accountant
✅ Correct Answer: (A)
Profession