MCQOPTIONS
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MCQOPTIONS
This section includes 1375 Mcqs, each offering curated multiple-choice questions to sharpen your Commerce knowledge and support exam preparation. Choose a topic below to get started.
| 1001. |
_Cost influences by responsibility center manager who is considered as$? |
| A. | manager cost |
| B. | influential cost |
| C. | center cost |
| D. | controllable cost |
| Answer» E. | |
| 1002. |
_Flexible budget variance for revenues of company is classified as$? |
| A. | selling price variance |
| B. | investment variance |
| C. | profit variance |
| D. | primary variance |
| Answer» B. investment variance | |
| 1003. |
_"It is now expected that the variable production cost per unit and the selling price per unit will each increase by 10%, and fixed production cost will rise by 25%. What will be the new break even point?Selling price - Rs 6 per unitVariable production cost - Rs 1.20 per unitVariable selling cost - Rs 0.40 per unitFixed production cost - Rs 4 per unitFixed selling cost - Rs 0.80 per unitBudgeted production and sales for the year are 10,000 units."$? |
| A. | 8,788 units |
| B. | 11,600 units |
| C. | 11,885 units |
| D. | 12,397 units |
| Answer» D. 12,397 units | |
| 1004. |
_"The following information is available for the W hotel for the latest thirty day period.Number of rooms available per night 40Percentage occupancy achieved 65%Room servicing cost incurred Rs 3900The room servicing cost per occupied room-night last period, to the nearest Rs, was:"$? |
| A. | Rs 3.25 |
| B. | Rs 5.00 |
| C. | Rs 97.50 |
| D. | Rs 150.00 |
| Answer» C. Rs 97.50 | |
| 1005. |
_The summarized balance sheet of Rakesh udyog Limited shows the balances of previous and current year of provision for taxation Rs 50,000 and Rs 65,000. If taxed paid during the current year amounted to Rs 70,000 then amount charge from Profit and Loss Account will be:$? |
| A. | Rs 55,000 |
| B. | Rs 85,000 |
| C. | Rs 45,000 |
| D. | Rs 1,85,000 |
| Answer» C. Rs 45,000 | |
| 1006. |
____________ is a summary of all functional budgets in a capsule form.$? |
| A. | Functional Budget |
| B. | Master Budget |
| C. | Long Period Budget |
| D. | Flexible Budget |
| Answer» C. Long Period Budget | |
| 1007. |
_A transport company is running five buses between two towns, which are 50 kms apart. Seating capacity of each bus is 50 passengeRs Actually passengers carried by each bus were 75% of seating capacity. All buses ran on all days of the month. Each bus made one round trip per day. Passenger kms are:$? |
| A. | 281250 |
| B. | 187500 |
| C. | 562500 |
| D. | None of the above |
| Answer» D. None of the above | |
| 1008. |
_Type of budget, which is always available for specified period of future is called$? |
| A. | period budget |
| B. | batch budget |
| C. | discontinued budget |
| D. | continuous budget |
| Answer» E. | |
| 1009. |
_Vertical dashed line in graphical representation of cost function represents the$? |
| A. | cost representation |
| B. | irrelevant range |
| C. | relevant range |
| D. | graphical representation |
| Answer» D. graphical representation | |
| 1010. |
_Description in mathematical form to represent changes in cost, with level of activity related to that cost is classified as$? |
| A. | cost function |
| B. | revenue function |
| C. | unit function |
| D. | relative function |
| Answer» B. revenue function | |
| 1011. |
_In element-wise classification of overheads, which one of the following is not included —$? |
| A. | Fixed overheads |
| B. | Indirect labour |
| C. | Indirect materials |
| D. | Indirect expenditure |
| Answer» B. Indirect labour | |
| 1012. |
_In case of rising prices (inflation), LIFO will:$? |
| A. | provide lowest value of closing stock and profit |
| B. | provide highest value of closing stock and profit |
| C. | provide highest value of closing stock but lowest value of profit |
| D. | provide highest value of profit but lowest value of closing stock |
| Answer» B. provide highest value of closing stock and profit | |
| 1013. |
_When the actual overhead is less than the absorbed overhead it is ________.$? |
| A. | over absorption |
| B. | under absorption |
| C. | equal absorption |
| D. | major absorption |
| Answer» B. under absorption | |
| 1014. |
_Job costing used in ________.$? |
| A. | paper mills |
| B. | chemical works |
| C. | printing works |
| D. | textile mill |
| Answer» D. textile mill | |
| 1015. |
_Budgeted direct labour hours are multiplied to direct labour cost rate to calculate$? |
| A. | expected total direct labour cost |
| B. | budgeted total direct labour cost |
| C. | budgeted total indirect labour cost |
| D. | expected labour hours |
| Answer» C. budgeted total indirect labour cost | |
| 1016. |
_If final sales are $50000 and separable costs are $35000, then net realizable value will be$? |
| A. | $15,000 |
| B. | $85,000 |
| C. | $35,000 |
| D. | $50,000 |
| Answer» B. $85,000 | |
| 1017. |
_Labour productivity can NOT be measured by comparing ________.$? |
| A. | actual time with standard time |
| B. | total output with total man hours |
| C. | added value for the product with total wage cost |
| D. | total wage and total output |
| Answer» E. | |
| 1018. |
_How many rate are used to calculate wages under Taylorss differential piece rate system?$? |
| A. | two |
| B. | three |
| C. | four |
| D. | five |
| Answer» B. three | |
| 1019. |
_Indirect material scrap is adjusted along with ________.$? |
| A. | prime cost |
| B. | factory cost |
| C. | labour cost |
| D. | cost of goods sold |
| Answer» C. labour cost | |
| 1020. |
_Toy manufacturing industry should use _______.$? |
| A. | unit costing |
| B. | process costing |
| C. | batch costing |
| D. | multiple costing |
| Answer» D. multiple costing | |
| 1021. |
_Charging output with overhead at reasonable rate is called ________.$? |
| A. | allocation |
| B. | appropriation |
| C. | apportionment |
| D. | absorption |
| Answer» D. absorption | |
| 1022. |
_Normal loss in the manufacturing process leads to _______.$? |
| A. | reduction in unit price of other good units |
| B. | increase in unit price of other good units |
| C. | reduction in costing profit |
| D. | increase in costing profit |
| Answer» C. reduction in costing profit | |
| 1023. |
_Discarded material substances having some value is ________.$? |
| A. | waste |
| B. | scrap |
| C. | defective |
| D. | spoilage |
| Answer» C. defective | |
| 1024. |
_The process of grouping of costs according to some common characteristics ________.$? |
| A. | absorption |
| B. | primary distribution |
| C. | secondary distribution |
| D. | classification |
| Answer» E. | |
| 1025. |
_Method which ranks cost object incurred by individual users, in ranking order of more responsible users is classified as$? |
| A. | bundled products allocation method |
| B. | variable cost allocation method |
| C. | stand-alone cost allocation method |
| D. | incremental cost allocation method |
| Answer» E. | |
| 1026. |
_Balancing of all aspects of products or services and all departments in company are classified as$? |
| A. | annual profit plan |
| B. | budgeting |
| C. | coordination |
| D. | complex plan |
| Answer» D. complex plan | |
| 1027. |
_Continuous budget is also known as$? |
| A. | rolling budget |
| B. | pin budget |
| C. | specific budget |
| D. | past budget |
| Answer» B. pin budget | |
| 1028. |
_Direct labour and salary outlays direct material purchases, which are classified as$? |
| A. | price disbursements |
| B. | cash disbursements |
| C. | budget disbursements |
| D. | goods disbursements |
| Answer» C. budget disbursements | |
| 1029. |
_Degree of influence that a manager would have on revenues, cost, profit and investment is known as$? |
| A. | controllability |
| B. | influential power |
| C. | responsibility |
| D. | all of above |
| Answer» B. influential power | |
| 1030. |
_better administration of budget in budgeting plans require$? |
| A. | intelligent interpretations |
| B. | participation |
| C. | persuasion |
| D. | all of above |
| Answer» E. | |
| 1031. |
_Quantitative expression, of action plan by management of firm for a specified period of time is classified as$? |
| A. | complexity |
| B. | process |
| C. | budget |
| D. | batching |
| Answer» D. batching | |
| 1032. |
_Budget sales, plus target ending finished goods inventory, minus beginning finished goods inventory is equal to$? |
| A. | budget production |
| B. | planned production |
| C. | setup production |
| D. | stand by production |
| Answer» B. planned production | |
| 1033. |
_Cost of sales plus profit is _______.$? |
| A. | selling price |
| B. | value of finished product |
| C. | value of goods produced |
| D. | value of stocks |
| Answer» B. value of finished product | |
| 1034. |
_Classification of cost is useful ________.$? |
| A. | to find gross profit |
| B. | to find net profit |
| C. | to identify costs |
| D. | to identify efficiency |
| Answer» D. to identify efficiency | |
| 1035. |
_Costing refers to the techniques and processes of ________.$? |
| A. | ascertainment of costs |
| B. | allocation of costs |
| C. | apportion of costs |
| D. | distribution of costs |
| Answer» B. allocation of costs | |
| 1036. |
_Batch costing is useful to determine ________.$? |
| A. | maximum quantity of output |
| B. | minimum quantity of output |
| C. | economic batch quantity |
| D. | profit of batches |
| Answer» D. profit of batches | |
| 1037. |
_Difference between job time and attendance time is$? |
| A. | job time |
| B. | actual time |
| C. | over time |
| D. | idle time |
| Answer» E. | |
| 1038. |
_Situation in which two or more independent variables are highly correlated is known as$? |
| A. | price linearity |
| B. | cost linearity |
| C. | division linearity |
| D. | multi-collinearity |
| Answer» E. | |
| 1039. |
_In regression analysis, if predicted cost value is 65 and observed cost value is 19 then disturbance term will be$? |
| A. | 46 |
| B. | 56 |
| C. | 36 |
| D. | 76 |
| Answer» B. 56 | |
| 1040. |
_If difference in costs is $32000 and slope coefficient is 0.40, then difference in machine hours would be$? |
| A. | $80,000 |
| B. | $12,800 |
| C. | $70,000 |
| D. | $22,800 |
| Answer» B. $12,800 | |
| 1041. |
_If residual error is 51 and predicted cost value is 37, then observed cost value will be$? |
| A. | 14 |
| B. | 88 |
| C. | 24 |
| D. | 68 |
| Answer» C. 24 | |
| 1042. |
_Cause and effect relationship between activity and costs is result of$? |
| A. | contractual agreement |
| B. | knowledge of operations |
| C. | measureable unit relationship |
| D. | all of above |
| Answer» E. | |
| 1043. |
_Goodness of fit predicted values is also known as$? |
| A. | coefficient of determination |
| B. | coefficient of index |
| C. | coefficient of residual |
| D. | coefficient of prediction |
| Answer» B. coefficient of index | |
| 1044. |
_Standard error of regression analysis is known as$? |
| A. | average of coefficient |
| B. | variance of residual |
| C. | mean of residual |
| D. | average of residual |
| Answer» C. mean of residual | |
| 1045. |
_In Regression Analysis, if an observed cost value is 85 and disturbance error is 25 then predicted cost value will be$? |
| A. | 110 |
| B. | 125 |
| C. | 60 |
| D. | 70 |
| Answer» D. 70 | |
| 1046. |
_Within relevant range, cost function which cost does not change in narrow ranges of activity is called$? |
| A. | fixed cost function |
| B. | variable cost function |
| C. | step variable cost function |
| D. | step fixed cost function |
| Answer» D. step fixed cost function | |
| 1047. |
_In adjustment issues of costing, database must contain reliable measure of$? |
| A. | fixed cost driver |
| B. | cost driver and cost |
| C. | cost driver and object |
| D. | mixed cost driver |
| Answer» C. cost driver and object | |
| 1048. |
_An estimated coefficient, which indicates degree by which estimated values are affected by random factors is known as$? |
| A. | standard error of estimated coefficient |
| B. | weighted error of estimated coefficient |
| C. | average of estimated coefficient |
| D. | variance of estimated coefficient |
| Answer» B. weighted error of estimated coefficient | |
| 1049. |
_Function which is used to measure decline in per unit cost of different business functions is classified as$? |
| A. | mixed curve |
| B. | experience curve |
| C. | discrete curve |
| D. | fixed curve |
| Answer» C. discrete curve | |
| 1050. |
_Most frequently used methods of quantitative analysis include$? |
| A. | variable equation |
| B. | high low method |
| C. | low high method |
| D. | constant equation |
| Answer» C. low high method | |