Costing MCQs
Practice free Costing multiple-choice questions with instant answer feedback and step-by-step solutions. Click an option to check yourself, reveal the full explanation, and work through all 1419 questions — no login required.
Question 1315hard
"Calculate the value of closing stock from the following according to FIFO method:
1st January, 20XX: Opening balance: 50 units @ Rs 4
Receipts:
5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 4.50
Issues:
2nd January, 20XX: 30 units
18th January, 20XX: 150 units"
1st January, 20XX: Opening balance: 50 units @ Rs 4
Receipts:
5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 4.50
Issues:
2nd January, 20XX: 30 units
18th January, 20XX: 150 units"
Question 1316hard
Indicate the correct option as regards the sources of funds for a funds flow statement from the following
1. Increase in working capital.
2. Decrease in working capital.
3. Writing-off the intangible/fictitious assets.
4. Issuing equity shares for acquisition of a building for office.
5. Charging depreciation on fixed assets.
Select the correct answer
1. Increase in working capital.
2. Decrease in working capital.
3. Writing-off the intangible/fictitious assets.
4. Issuing equity shares for acquisition of a building for office.
5. Charging depreciation on fixed assets.
Select the correct answer
Question 1317hard
"Calculate the value of closing stock from the following according to Weighted Average method:
1st January, 20XX: Opening balance: 50 units @ Rs 4
Receipts:
5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 450
Issues:
2nd January, 20XX: 30 units
18th January, 20XX: 150 units"
1st January, 20XX: Opening balance: 50 units @ Rs 4
Receipts:
5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 450
Issues:
2nd January, 20XX: 30 units
18th January, 20XX: 150 units"
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Question 1318easy
An assumption of specification analysis states: any observation does not belong to any other observation's residual value, is classified as
Question 1319hard
Match the following.
| List-I | List-II |
| a. Increase in fund | 1. Application of funds |
| b. Goods purchased on credit | 2. Drain in working capital |
| c. Commission outstanding | 3. Sources of funds |
| d. Net loss | 4. No flow of funds |
Question 1320hard
Assertion (A): Debt-equity ratio indicates the long-term solvency of a company.
Reason (R): It measures the ability of the company to pay-off its long-term liabilities.
Select the correct answer.
Reason (R): It measures the ability of the company to pay-off its long-term liabilities.
Select the correct answer.
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Question 1321hard
Match the following.
| List-I | List-II |
| a. Operating profit | 1. Capital employed = . . . . . . . . + Preference share capital |
| b. Liquid liabilities | 2. . . . . . . . . = Gross profit - Operating expenses |
| c. Capital employed | 3. Quick assets = Quick ratio × . . . . . . . . |
| d. Equity share capital | 4. Fixed assets ratio = Fixed assets ÷ . . . . . . . . |
Question 1322hard
Match the List-I with the items of List-II relating to human resource planning activities, and indicate the correct matching.
| List-I | List-II |
| a. Forecasting | 1. Optimal employment |
| b. Inventorying | 2. Development activities |
| c. Anticipating manpower problems | 3. Mathematical projections of industrial trend |
| d. Planning programmes | 4. Projecting present resources into future |
Question 1323hard
Match the following.
| List-I | List-II |
| a. Variable costing | 1. Absorption costing |
| b. Valuation of stock is higher | 2. Fixed cost is excluded from inventory valuation |
| c. Marginal and differential costs are same | 3. Marginal costing |
| d. Marginal costing | 4. No change in fixed cost |