Costing MCQ Questions and Solutions with Explanations | Commerce

A. Basic standard

B. Ideal standard

C. Normal standard

D. Expected standard

A. Both (A) and (R) are true, and (R) is the correct explanation of (A)

B. Both (A) and (R) are true, but (R) is not the correct explanation of (A)

C. (A) is true, but (R) is false

D. (A) is false,but (R) is true

A. store

B. finance department

C. cost accounting department

D. Both A and B

A. a-4, b-3, c-1, d-2

B. a-3, b-4, c-1, d-2

C. a-3, b-1, c-4, d-2

D. a-4, b-3, c-2, d-1

A. Process

B. Service

C. Multiple

D. Job

A. Comparative statement

B. Common-size statement

C. Trend analysis

D. None of the above

A. Budgeted cost of labour

B. Estimated cost of labour

C. Actual cost of labour

D. None of these

A. market value

B. cost

C. income

D. None of the above

A. Sound financial position

B. Weak financial position

C. Both A and B

D. None of these

A. To remove the shortcomings of financial accounting

B. To remove the shortcomings of managerial accounting

C. To overcome the shortcomings of standard costing

D. None of these