Q. Job costing is used when a business entity carries out tasks or jobs to meet specific customer orders.
✅ Correct Answer: (A)
True
Cost and Works Accounting 2 MCQs and Notes
Q. A job is a cost unit which consists of a single order or contract.
✅ Correct Answer: (A)
True
Q. Job costing is used when a business entity carries out tasks or jobs to meet specific customer orders.
✅ Correct Answer: (B)
The above statement is true
Q. Identify the types of specific order costing.
✅ Correct Answer: (D)
Both A&B only
Q. Specific order costing methods are appropriate for organizations which produce cost units which are separately identifiable from one another.
✅ Correct Answer: (A)
The above statement is correct
Q. The production operations of most businesses can be categorized as either being:
✅ Correct Answer: (C)
Both A or B
Q. Per kilometer is an example of……………..cost unit used in transport undertakings.
✅ Correct Answer: (A)
Simple
Q. Operating costing system is more suitable to :
✅ Correct Answer: (C)
Service industries.
Q. IF the profit are 50% of operating cost, it is ……………. of invoice price.
✅ Correct Answer: (D)
33.33334%
Q. Number of passenger kilometer= Number of passengers X………………
✅ Correct Answer: (A)
Number of kms.