Cost and Managerial Accounting

221. ______________ is not the scope ofCost Accountancy.

1. Ascertaining cost
2. cost accounting
3. cost control
4. tax planning

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222. Cost accounting provides detailed information about ______________ of various products, processes, services and operations.

1. Costs
2. income
3. either a or b
4. none of these.

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223. Sunk costs are ______________ for decision-making

1. irrelevant
2. relevant
3. useful
4. none of these.

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224. Fixed cost per unit ______________ with rise in output and ______________ with fall in output.

1. Decreases, increases
2. increases, decreases
3. is constant, remains same
4. none of the above

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225. ______________ are costs which have been applied against revenue of particular accounting period.

1. Expenses
2. income
3. loss
4. none of these

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226. An item of cost that is direct for one business may be ______________ for another business.

1. Important
2. direct
3. Indirect
4. none of the above.

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227. Variable costs change ______________ with change in output.

1. Proportionately
2. Inversely
3. Disproportionately
4. Sometimes

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228. Stock verification sheets are maintained to record the results of ______________

1. Physical verification
2. financial control
3. financial verification
4. quality verification

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229. First in first out method of valuing material issues is suitable in times of ______________

1. Rising prices
2. falling prices
3. fluctuating prices
4. none of these

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230. A bill of material is prepared in case of a ______________ job

1. Standard job
2. non-standardized job
3. both a & b
4. none of these

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