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Costing MCQ Questions and Solutions with Explanations | Commerce

Costing MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Costing MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-10 section-10

Each section contains 100 MCQs on Costing .
91
Statement (A): It is necessary to tally current costs with current income in order to find out the correct profit.
Reason (R): LIFO ensures matching of current costs with current income.
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Answer & Solution
Answer: Option B
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92
Basis of apportionment of creche expenses is . . . . . . . .
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Answer: Option B
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93
Cost Accounting has been developed because of . . . . . . . . of Financial Accounting.
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Answer & Solution
Answer: Option A
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94
If the amount of work certified is less than . . . . . . . . of the contract price, then no profit should be taken to Profit & Loss Account.
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Answer: Option B
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95
Contracts where all agreed costs are recovered is known as:
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Answer: Option C
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96
Match the items of List-I with those of List-II and indicate the correct answer
List-I List-II
a. Acid test ratio 1. Profitability analysis
b. Debt service coverage ratio 2. Activity analysis
c. Debt equity ratio 3. Liquidity analysis
d. Stock turnover ratio 4. Long-term solvency analysis
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Answer: Option D
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97
Material mix variance = standard cost of standard mix - . . . . . . . .
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Answer: Option C
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98
Administration and management overheads are realized as a percentage
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Answer: Option D
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99
The origin of Kaizen costing in
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Answer: Option B
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100
Which of the following is not an example of financing activities with reference to cash flow statement?
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Answer: Option D
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