1. Public utility undertakings must invariably adopt---------
Correct : D. Multiple costing
2. Kerala Electricity Board must make use of-----------
Correct : A. Single or unit costing
3. The method of costing used in case of a gas company is termed as---------
Correct : C. Operating costing
4. Mines `A’ and `B’ are at a distance of 10 kms and 15 kms from the factory. The cost per tonne-km in
case of mine A is Rs. 3 while it is R. 2.5 in case of mine B. The factory should procure coal from------------
Correct : A. Mine A only
5. In case of steam company, the cost per unit is calculated on the basis of---------
Correct : A. Total quantity of lbs. produced
6. Calendar variance is the sub variance of ---------------
Correct : C. Fixed Overhead variances
7. Which of the following is /are support activity in Value Chain Analysis?
Correct : D. All of these.
8. Which of the following is /are primary activity in Value Chain Analysis?
Correct : D. Service
9. ----------- variance is always adverse.
Correct : C. Idle time variance
10. ----------- are those products which are manufactured in different varieties by the same industry.
Correct : C. Co-products
11. ---------- means ‘Change for better’.
Correct : B. Kaizen
12. Lean manufacturing can be achieved by using-----------
Correct : C. Just in Time
13. ----------is the cost attribution to the cost unit on the basis of benefits received from indirect activities.
Correct : A. Activity based costing
14. Traditional absorption costing is ----------
Correct : B. Volume based
15. In Activity based costing, importance given to-----------
Correct : C. Overhead
16. ------------ is the item of product. Job, process or customer for which cost are to be determined.
Correct : B. Cost object
17. ‘Cost of Procurement’ is an example of---------------
Correct : C. Cost pool
18. ----------- in Activity Based Costing is like ‘cost centre’ in traditional costing.
Correct : C. Cost pool
19. ---------- cost is also known as hypothetical or notional cost.