Q. A product with a high gross profit could be an unprofitable product.
✅ Correct Answer: (B)
False
Cost and Works Accounting 2 MCQs and Notes
Q. Which of the following is not included in functional classification of overheads?
✅ Correct Answer: (D)
Chargeable expenses
Q. A total of all the direct costs is known as
✅ Correct Answer: (C)
Prime cost
Q. What item is not included in cost accounting?
✅ Correct Answer: (B)
Profit-sharing
Q. The stage of production at which separate products are identified is known as _______________:
✅ Correct Answer: (A)
Process costing
Q. In cinema halls, composite cost unit is ________________:
✅ Correct Answer: (A)
A seat per show
Q. Costing is specialized branch of accounting which deals with:
✅ Correct Answer: (D)
Classification, recording, allocation and directing
Q. Which of the following calculate the actual cost of product:
✅ Correct Answer: (D)
None of these
Q. Which of the following cost is also known as overhead cost or on cost:
✅ Correct Answer: (D)
Indirect expenses
Q. What would be the most appropriate way of apportioning depreciation costs across different manufacturing departments in a business?
✅ Correct Answer: (C)
Value of buildings and equipment