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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-9

Each section contains 100 MCQs on Costing .
91
An item of cost that is direct for one business may be . . . . . . . . for another business.
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Answer & Solution
Answer: Option C
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92
An opportunity cost does not involve . . . . . . . .
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Answer & Solution
Answer: Option A
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93
What is the amount of gross profit if the stock turnover ratio is 6 times; average stock is Rs. 8,000 and; selling price is 25% above cost?
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Answer & Solution
Answer: Option D
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94
Under piece rate system of wage payment, payment is made according to the . . . . . . . .
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Answer & Solution
Answer: Option A
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95
The requirements of a particular job are known as . . . . . . . .
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Answer & Solution
Answer: Option A
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96
Total Material cost variance =
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Answer & Solution
Answer: Option A
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97
The following items are included in the distribution cost
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Answer & Solution
Answer: Option A
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98
A flexible budget requires careful study and classification of expenses into
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Answer: Option D
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99
When the actual output in the production process is less than the normal, the difference between the two is called
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Answer & Solution
Answer: Option B
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100
Assertion (A): Cash flow statement, as per the financial statements as well, is incapable of revealing the overall financial position of a firm.
Reason (R): Cash is an important constituent of the working capital based on recorded facts only.
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Answer & Solution
Answer: Option A
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