TYBCOM Hons Advanced Cost Accounting Quiz

TYBCOM Hons Advanced Cost Accounting Quiz

University

10 Qs

quiz-placeholder

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TYBCOM Hons Advanced Cost Accounting Quiz

TYBCOM Hons Advanced Cost Accounting Quiz

Assessment

Quiz

Other

University

Medium

Created by

SAYALI NENE

Used 2+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

1. Normal Output is equal to _______.

Input - Abnormal Loss

Input - Normal Loss

Input - Abnormal Gain

Input - Output

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

2. Which of the following does not use Process Costing?

Oil Refining

Sugar

Bakery

Air-craft Manufacturing

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

3. A process gives rise, incidentally, to a product of low value, which is called ________.

Joint Product

By-Product

Scrap

Waste

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

4. Input in a process is 4000 units and normal loss is 20%. When finished output in the process is 3,240 units; then there is an _______.

Abnormal loss of 40 units

Abnormal Gain of 40 units

Neither Abnormal Loss nor Abnormal Gain

Abnormal Gain of 60 units

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

5. The cost of units of Abnormal Gain is debited to Process Account.

True

False

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

6. Classification and accumulation of costs by fixed and variable costs is a distinctive feature of _________.

Process costing

Unit costing Batch costing

Operating costing

Batch costing

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

7. For hotels the best method of costing is ________.

Single or output

Contract costing

Process costing

Operating costing

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