Cost Accounting Multiple Choice Questions and Answers (MCQs): Quizzes & Practice Tests with Answer Keys

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Bushra Arshad, May 17, 2019 - Business & Economics - 233 pages

"Cost Accounting Multiple Choice Questions and Answers (MCQs): Quizzes & Practice Tests with Answer Key" covers mock tests for competitive exams. This book can help to learn and practice Cost Accounting Quizzes as a quick study guide for placement test preparation. "Cost Accounting Multiple Choice Questions (MCQs)" will help with theoretical, conceptual, and analytical study for self-assessment, career tests.

"Cost Accounting Multiple Choice Questions and Answers" pdf is a revision guide with a collection of trivia questions to fun quiz questions and answers pdf on topics: accounting concepts, activity based costing and management, balanced scorecard and strategic profitability analysis, balanced scorecard, quality, time and theory of constraints, basics of accounting, budgeting and accounting, capacity analysis and inventory costing, capital budgeting and cost benefit analysis, cost allocation, customer profitability and sales variance analysis, cost allocation, joint products and byproducts, cost function and behavior, cost management and pricing decisions, cost volume profit analysis, decision making process and information, department costs, common costs and revenues, direct cost variances and management control, financial ratios analysis, flexible budget and management control, flexible budget: overhead cost variance, fundamentals of accounting, inventory management, just in time and costing methods, job costing, management accounting in organization, management control systems and multinational considerations, master budget and responsibility accounting, overhead cost variances and management control, performance measurement, compensation and multinational considerations, process costing, spoilage, rework, and scrap to enhance teaching and learning.

Cost Accounting Quiz Questions and Answers pdf also covers the syllabus of many competitive papers for admission exams of different universities from business administration textbooks on chapters:


Accounting Concepts Multiple Choice Questions: 35 MCQs

Activity based Costing and Management Multiple Choice Questions: 18 MCQs

Balanced Scorecard and Strategic Profitability Analysis Multiple Choice Questions: 29 MCQs

Balanced Scorecard: Quality, Time and Theory of Constraints Multiple Choice Questions: 40 MCQs

Basics of Accounting Multiple Choice Questions: 15 MCQs

Budgeting and Accounting Multiple Choice Questions: 15 MCQs

Capacity Analysis and Inventory Costing Multiple Choice Questions: 107 MCQs

Capital Budgeting and Cost Benefit Analysis Multiple Choice Questions: 27 MCQs Cost Allocation, Customer Profitability and Sales Variance Analysis Multiple Choice Questions: 26 MCQs

Cost Allocation: Joint Products and Byproducts Multiple Choice Questions: 30 MCQs

Cost Function and Behavior Multiple Choice Questions: 138 MCQs

Cost Management and Pricing Decisions Multiple Choice Questions: 29 MCQs

Cost Volume Profit Analysis Multiple Choice Questions: 43 MCQs

Decision Making Process and Information Multiple Choice Questions: 35 MCQs

Department Costs, Common Costs and Revenues Multiple Choice Questions: 29 MCQs

Direct Cost Variances and Management Control Multiple Choice Questions: 60 MCQs

Financial Ratios Analysis Multiple Choice Questions: 50 MCQs

Flexible Budget and Management Control Multiple Choice Questions: 28 MCQs

Flexible Budget: Overhead Cost Variance Multiple Choice Questions: 59 MCQs

Fundamentals of Accounting Multiple Choice Questions: 14 MCQs

Inventory Management, Just in Time and Costing Methods Multiple Choice Questions: 31 MCQs

Job Costing Multiple Choice Questions: 46 MCQs

Management Accounting in Organization Multiple Choice Questions: 38 MCQs

Management Control Systems and Multinational Considerations Multiple Choice Questions: 16 MCQs

Master Budget and Responsibility Accounting Multiple Choice Questions: 48 MCQs

Overhead Cost Variances and Management Control Multiple Choice Questions: 10 MCQs

Performance Measurement, Compensation and Multinational Considerations Multiple Choice Questions: 26 MCQs

Process Costing Multiple Choice Questions: 20 MCQs Spoilage, Rework and Scrap Multiple Choice Questions: 21 MCQs


The chapter “Accounting Concepts MCQs” covers topics of conversion costs, cost analysis, inventory types, inventoriable cost and period cost, manufacturing costs, period costs, prime costs, and types of inventories.

The chapter “Activity based Costing and Management MCQs” covers topics of activity based costing systems, activity based costing, accounting, broad averaging and consequence, and refining costing system.

The chapter “Balanced Scorecard and Strategic Profitability Analysis MCQs” covers topics of balanced scorecard, strategic analysis, accounting strategy, operating income, and strategy implementation.

The chapter “Balanced Scorecard: Quality, Time and Theory of Constraints MCQs” covers topics of costs of quality, quality improvements, customer response time and on time performance, analyzing problems and improve quality, balance scorecard and measures, bottlenecks, financial perspective, and competitive tool.

The chapter “Basics of Accounting MCQs” covers topics of direct costs, indirect costs, and what is cost in accounting.

The chapter “Budgeting and Accounting MCQs” covers topics of budgeting and responsibility accounting, and Kaizen budgeting.

The chapter “Capacity Analysis and Inventory Costing MCQs” covers topics of absorption costing, inventory costing methods, manufacturing companies, and throughput costing.

The chapter “Capital Budgeting and Cost Benefit Analysis MCQs” covers topics of accrual accounting, rate of return method, capital budgeting and inflation, capital budgeting stages, cost analysis dimensions, discounted cash flow, and payback method.

The chapter “Cost Allocation, Customer Profitability and Sales Variance Analysis MCQs” covers topics of cost allocation and costing systems, customer revenues and costs, sales mix and sales quantity variances, and static budget variance.

The chapter “Cost Allocation: Joint Products and Byproducts MCQs” covers topics of joint cost, irrelevant joint costs, byproducts accounting, constant gross margin percentage NRV method, decision making, net realizable value method, sales value, split off method, and scrap.

The chapter “Cost Function and Behavior MCQs” covers topics of estimating cost functions, estimating cost function using quantitative analysis, linear cost functions, nonlinearity and cost functions, cost estimation methods, curves and nonlinear cost function, data collection and adjustment issues, independent variables, quantitative analysis in marketing, regression analysis, regression equation, regression line, specification analysis, and estimation assumptions.

The chapter “Cost Management and Pricing Decisions MCQs” covers topics of pricing strategies, cost based pricing, product budgeting life cycle and costing, target costing and target pricing, value engineering, insurance and lock in costs.

The chapter “Cost Volume Profit Analysis MCQs” covers topics of CVP analysis, operating income, breakeven point, target income, gross margin calculations, total costs, unit costs, and variable cost.

The chapter “Decision Making Process and Information MCQs” covers topics of decision making process, information and decision process, concept of relevance, insourcing versus outsourcing, and make versus buy decisions.

The chapter “Department Costs, Common Costs and Revenues MCQs” covers topics of allocating costs, common costs, revenue allocation, revenue allocation methods, multiple support departments, operating departments, bundled products, single rate and dual rate methods.

The chapter “Direct Cost Variances and Management Control MCQs” covers topics of use of variances, efficiency variance, price and efficiency variance, management accounting, period costs, and static budget.

The chapter “Financial Ratios Analysis MCQs” covers topics of sensitivity analysis, operating income, breakeven point, target income, contribution margin calculations, contribution margin versus gross margin, effects of sales mix on income, gross margin calculations, and uncertainty.

The chapter “Flexible Budget and Management Control MCQs” covers topics of flexible budget, flexible budget variance, static budget, sales volume variance, and cost accounting.

The chapter “Flexible Budget: Overhead Cost Variance MCQs” covers topics of cost variance analysis, overhead cost variance analysis, fixed overhead cost variances, activity based costing, production volume variance, setup cost, variable and fixed overhead costs.

The chapter “Fundamentals of Accounting MCQs” covers topics of direct costs, indirect costs, manufacturing costs, manufacturing, merchandising and service sector companies, total costs, unit costs, and types of inventory.

The chapter “Inventory Management, Just in Time and Costing Methods MCQs” covers topics of inventory management system, inventory related relevant costs, just in time purchasing, cost accounts, inventory management, MRP, retail organizations, and inventory management.

The chapter “Job Costing MCQs” covers topics of building block concepts of costing systems, budget indirect costs, end of financial year, indirect costs allocation, normal costings, total costs, unit costs, and variations from normal costing.

The chapter “Management Accounting in Organization MCQs” covers topics of management accounting, management accounting guidelines, organization structure and management accountant, decision making process, information and decision process, financial and cost accounting, and strategic decisions.

The chapter “Management Control Systems and Multinational Considerations MCQs” covers topics of management control systems, decentralization costs, organization structure, decentralization, and transfer pricing.

The chapter “Master Budget and Responsibility Accounting MCQs” covers topics of budgets and budgeting cycle, Kaizen budgeting, responsibility and controllability, accounting concepts, accounting principles, computer based financial planning models, internal controls accounting, sensitivity analysis, uncertainty, and types of inventory.

The chapter “Overhead Cost Variances and Management Control MCQs” covers topics of fixed overhead costs, flexible budget variance, and planning of variable.

The chapter “Performance Measurement, Compensation and Multinational Considerations MCQs” covers topics of performance measure, financial and nonfinancial performance measures, economic value added, strategy and levels, and residual income.

The chapter “Process Costing MCQs” covers topics of process costing system, operation costing, transferred in costs, WAM and spoilage, and weighted average method.

The chapter “Spoilage, Rework and Scrap MCQs” covers topics of job costing, spoilage, rework and scrap terminology, scrap and byproducts accounting, types of spoilage, WAM, and spoilage.

 

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Contents

Chapter 1 Accounting Concepts Multiple Choice Questions
Chapter 2 Activity based Costing and Management Multiple Choice Questions
Chapter 3 Balanced Scorecard and Strategic Profitability Analysis Multiple Choice Questions
Chapter 4 Balanced Scorecard Quality Time and Theory of Constraints Multiple Choice Questions
Chapter 5 Basics of Accounting Multiple Choice Questions
Chapter 6 Budgeting and Accounting Multiple Choice Questions
Chapter 7 Capacity Analysis and Inventory Costing Multiple Choice Questions
Chapter 8 Capital Budgeting and Cost Benefit Analysis Multiple Choice Questions
Chapter 16 Direct Cost Variances and Management Control Multiple Choice Questions
Chapter 17 Financial Ratios Analysis Multiple Choice Questions
Chapter 18 Flexible Budget and Management Control Multiple Choice Questions
Chapter 19 Flexible Budget Overhead Cost Variance Multiple Choice Questions
Chapter 20 Fundamentals of Accounting Multiple Choice Questions
Chapter 21 Inventory Management Just in Time and Costing Methods Multiple Choice Questions
Chapter 22 Job Costing Multiple Choice Questions
Chapter 23 Management Accounting in Organization Multiple Choice Questions

Chapter 9 Cost Allocation Customer Profitability and Sales Variance Analysis Multiple Choice Questions
Chapter 10 Cost Allocation Joint Products and Byproducts Multiple Choice Questions
Chapter 11 Cost Function and Behavior Multiple Choice Questions
Chapter 12 Cost Management and Pricing Decisions Multiple Choice Questions
Chapter 13 Cost Volume Profit Analysis Multiple Choice Questions
Chapter 14 Decision Making Process and Information Multiple Choice Questions
Chapter 15 Department Costs Common Costs and Revenues Multiple Choice Questions
Chapter 24 Management Control Systems and Multinational Considerations Multiple Choice Questions
Chapter 25 Master Budget and Responsibility Accounting Multiple Choice Questions
Chapter 26 Overhead Cost Variances and Management Control Multiple Choice Questions
Chapter 27 Performance Measurement Compensation and Multinational Considerations Multiple Choice Questions
Chapter 28 Process Costing Multiple Choice Questions
Chapter 29 Spoilage Rework and Scrap Multiple Choice Questions
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