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MCQs

Total Questions : 146 | Page 2 of 15 pages
Question 11. The costs that behaves as irrelevant costs in process of decision making are classified as
  1.    past costs
  2.    future costs
  3.    expected costs
  4.    sunk costs
 Discuss Question
Answer: Option A. -> past costs
Answer: (a).past costs
Question 12. When an essential information for calculation of income statement is missing, then the costs that can be considered for this purpose is called
  1.    expected cost
  2.    expected revenues
  3.    irrelevant costs
  4.    relevant costs
 Discuss Question
Answer: Option D. -> relevant costs
Answer: (d).relevant costs
Question 13. The costs that are unavoidable and remain unchanged no matter what done are classified as
  1.    sunk costs
  2.    bunked costs
  3.    unrecorded costs
  4.    recorded costs
 Discuss Question
Answer: Option A. -> sunk costs
Answer: (a).sunk costs
Question 14. An amount of additional cost incurred for any particular activity is classified as
  1.    incremental cost
  2.    differential cost
  3.    dependent cost
  4.    independent cost
 Discuss Question
Answer: Option A. -> incremental cost
Answer: (a).incremental cost
Question 15. In today's global world, an outsourcing of products or services from lower cost countries is classified as
  1.    differential in-sourcing
  2.    off-shoring
  3.    incremental outsourcing
  4.    differential outsourcing
 Discuss Question
Answer: Option B. -> off-shoring
Answer: (b).off-shoring
Question 16. The budget, which highlights the difference between actual quantity and budgeted quantity is termed as
  1.    actual cost budget
  2.    flexible budget variance
  3.    inflexible budget
  4.    hourly budget
 Discuss Question
Answer: Option B. -> flexible budget variance
Answer: (b).flexible budget variance
Question 17. In the standard costing, the standard quantity allocation is multiplied to standard overhead rates for allocating
  1.    flexible costs
  2.    variable costs
  3.    overhead costs
  4.    fixed costs
 Discuss Question
Answer: Option C. -> overhead costs
Answer: (c).overhead costs
Question 18. If the flexible budget amount is $40000 and variable overhead flexible budget variance is $25000, then actual costs incur will be
  1.    $15,000
  2.    $35,000
  3.    $65,000
  4.    $75,000
 Discuss Question
Answer: Option C. -> $65,000
Answer: (c).$65,000
Question 19. A company must eliminate all those activities that do not add value to all the products or services in planning of
  1.    variable overhead cost
  2.    fixed overhead cost
  3.    fixed batch cost
  4.    variable batch cost
 Discuss Question
Answer: Option A. -> variable overhead cost
Answer: (a).variable overhead cost
Question 20. The flexible budget amount is added in to variable overhead flexible budget variance to calculate
  1.    manufacturing costs incurred
  2.    variable costs incurred
  3.    fixed costs incurred
  4.    actual costs incurred
 Discuss Question
Answer: Option D. -> actual costs incurred
Answer: (d).actual costs incurred

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