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MCQs

Total Questions : 79 | Page 3 of 8 pages
Question 21. In production, the variables such as level of activity or volume of company activity are known as
  1.    cost drivers
  2.    timed drivers
  3.    variable drivers
  4.    fixed drivers
 Discuss Question
Answer: Option A. -> cost drivers
Answer: (a).cost drivers
Question 22. The relationship between change in activity and change in total costs is considered as
  1.    fixed relationship
  2.    cause and effect relationship
  3.    ineffective relationship
  4.    variable relationship
 Discuss Question
Answer: Option B. -> cause and effect relationship
Answer: (b).cause and effect relationship
Question 23. The direct cost assignment for specific cost object is classified as
  1.    cost object line cost
  2.    cost tracing
  3.    cost object indirect cost
  4.    cost object staff cost
 Discuss Question
Answer: Option B. -> cost tracing
Answer: (b).cost tracing
Question 24. According to accounting system the collection of cost data, in an organized way is classified as
  1.    system accumulation
  2.    accumulated data
  3.    cost accumulation
  4.    organized accumulation
 Discuss Question
Answer: Option C. -> cost accumulation
Answer: (c).cost accumulation
Question 25. In accounting, the cost incurred in past or in historical financial statements is classified as
  1.    actual cost
  2.    budgeted cost
  3.    past cost
  4.    incurred cost
 Discuss Question
Answer: Option A. -> actual cost
Answer: (a).actual cost
Question 26. The difference between the budgeted amounts and the actual results is classified as
  1.    standard deviation
  2.    variances
  3.    mean average
  4.    weighted average
 Discuss Question
Answer: Option B. -> variances
Answer: (b).variances
Question 27. An assignment of task for managers, who are accountable for their actions in controlling and budgeting of resources is classified as
  1.    coordinating the company effort
  2.    action plan
  3.    action accountability
  4.    project accountability
 Discuss Question
Answer: Option A. -> coordinating the company effort
Answer: (a).coordinating the company effort
Question 28. A manager, who is responsible for the both cost and revenues belong to the department of
  1.    cost center
  2.    revenue center
  3.    profit center
  4.    investment center
 Discuss Question
Answer: Option C. -> profit center
Answer: (c).profit center
Question 29. The larger number of manager subordinates and the higher level manager are termed as
  1.    activity subordinates
  2.    broader responsibility center
  3.    broader subordinates
  4.    activity ordinates
 Discuss Question
Answer: Option B. -> broader responsibility center
Answer: (b).broader responsibility center
Question 30. A manager who is responsible for only the cost of the company belongs to
  1.    cost center
  2.    revenue center
  3.    profit center
  4.    investment center
 Discuss Question
Answer: Option A. -> cost center
Answer: (a).cost center

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