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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-7 section-10

Each section contains 100 MCQs on Costing .
61
The technique of standard costing may not be applicable in case of:
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Answer & Solution
Answer: Option D
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62
The method of costing applied in biscuit industries is . . . . . . . . costing and in steel industry . . . . . . . . costing.
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Answer & Solution
Answer: Option A
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63
When . . . . . . . . is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.
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Answer & Solution
Answer: Option A
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64
Match the items of the following two lists:
List-I List-II
a. Statement of changes in working capital 1. Cash flow statement
b. Deferred tax 2. Fixed assets
c. Three activities 3. Funds flow statement
d. Impairment loss 4. Balance sheet
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Answer & Solution
Answer: Option C
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65
Cost of production is
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Answer & Solution
Answer: Option B
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66
Under inflationary conditions a higher value of inventory is assigned under:
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Answer & Solution
Answer: Option A
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67
The cause of increase in cost per unit under process costing is
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Answer: Option B
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68
Under the inflationary conditions, the value of closing stock will be highest under the:
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Answer & Solution
Answer: Option B
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69
According to which of the following methods of valuation, issuances are linked to current economic prices?
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Answer & Solution
Answer: Option A
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70
. . . . . . . . is the oldest branch of accounting.
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Answer & Solution
Answer: Option A
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