Chapter Questions
CA can be used only in a manufacturing concern.
CA is not applicable to(a) Small business concern(b) Big business concern(c) Both a and b(d) None of above
CA is a branch of FA.
Cost audit is a part of(a) Financial accountancy(b) Cost accountancy(c) Management accountancy(d) None of above
A prosperous business concern does not need a costing system.
Cost accountancy helps in the ascertainment of(a) Cost after hand(b) Cost beforehand(c) Cost in hand(d) None of above
Cost audit is a part of cost accountancy.
Reduction of labour turnover and idle time help us to control(a) Material cost(b) Standard cost(c) Labour cost(d) None of above
CA provides information for ascertaining the financial position as on a particular date.
CA department should provide information about standard and(a) Ultimate performance(b) Unestimated performance(c) Actual performance(d) None of the above
CA helps in the ascertainment of cost beforehand.
CA can also provide information that may reduce(a) Overheads(b) Price(c) Both a and b(d) None of above
CA is not needed if prices are beyond the control of the firm.
Cost accounts should provide information, which enables the management to fix remunerative(a) Cost prices(b) Selling prices(c) Both a and b(d) None of these
CA will not be necessary if financial accounts provide the necessary analysis.
CA helps planning for future operation in such a way as to(a) Minimize the income(b) Maximize the profit(c) Maximize the cost(d) None of the above
CA is nothing but a post-mortem of past costs.
The fixed cost is controlled by(a) Management(b) External factors(c) Production department(d) None of the above
CA is the oldest branch of accounting.
Variable cost is controlled by(a) Production department(b) Selling department(c) Both a and b(d) None of the above