Cost Accounting Quiz
Authored by Carolynne Mwilaria
Financial Education
12th Grade
Used 1+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of cost accounting?
To identify all variable and fixed costs associated with the production process
To calculate tax liabilities
To present a company's financial position to external sources
To track employee salaries
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are fixed costs in cost accounting?
Costs tied to a company's level of production
Costs associated with day-to-day operations
Costs that don't vary depending on the level of production
Costs specifically related to producing a product
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are variable costs in cost accounting?
Costs tied to a company's level of production
Costs that don't vary depending on the level of production
Costs specifically related to producing a product
Costs associated with day-to-day operations
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are direct costs in cost accounting?
Costs specifically related to producing a product
Costs tied to a company's level of production
Costs associated with day-to-day operations
Costs that don't vary depending on the level of production
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are indirect costs in cost accounting?
Costs specifically related to producing a product
Costs associated with day-to-day operations
Costs tied to a company's level of production
Costs that cannot be directly linked to a product
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