Accounting Practice MCQ Page 14

Multiple Choice questions for Accounting in the sets of 10 each on one page with questions and answers. All sets are useful in the preparation of subject tests for employment or admission.
Question: 1569   The least suitable basis for applying overhead is
  1. materials consumed
  2. direct labour cost
  3. direct labour hours
  4. machine hours
Question: 1571   Excess plant capacity means
  1. temporary idleness of plant
  2. greater production capacity than a company can use
  3. the difference between theoretical capacity and actual capacity
Question: 1573   The concept of ideal capacity of plant as used in cost accounting is its
  1. theoretical maximum capacity
  2. best capacity for normal production.
  3. capacity used for standard setting.
  4. capacity below which production should not fall.
Question: 1580   pre-determined overhead recovery rate is Rs 3 per hour and pre-determined hours are 50,000 Actual hours worked are 55,000 and actual overhead Rs 1,70,000. what is the amount of under or over-absorption of overhead
  1. RS.20000 over-absorption
  2. RS. 20,000 over-absorption
  3. RS.5000 under-absorption
  4. RS.5,000 over-absorption
Question: 1583   in Q. 3.34, what is the amount of pre-determined overhead
  1. RS.1,50,000
  3. rs.1,65,000
  4. cannot be computed
  5. None of these
Question: 1585   What is the amount of absorbed overhead in Q 3.34
  1. RS. 1,50,000
  2. RS. 1,65,000
  3. RS. 15,000
  4. RS 20,000
Question: 1592   In Q 3,37, which method should be used to treat under/over absorbed amount in cost accounts
  1. Tr. to costing P& L A/c
  2. Use of supplementary rate
  3. Carry over to next year
  4. Any of the above
Question: 1594   In Q 3.37, what is the predetermined number of machine hours
  1. 16,000
  2. 12,000
  3. Cannot be known
  4. None of these
Question: 1599   A machine purchased for Rs 20,000 is discarded because of obsolescence and sold for Rs 5,000 after three years of service, resulting in a loss of Rs 3,000.This loss should be
  1. treated as production cost
  2. transferred to costing P& L A/c in the year of sale
  3. spread over the years of the remaining expected life of the machine
  4. Either(b)or(c)
Question: 1603   The principal factors to be considered on designing a cost system include
  1. Manufacturing process
  2. desires of management
  3. nature of business
  4. company organisation structure
  5. all of the above
Question: 1606   The most suitable cost system where the products differ in type of materials used and work performed is
  1. job costing
  2. Batch costing
  3. operating costing
  4. None of these
Question: 1609   In shoe manufacture, the most suitable cost system is
  1. job costing
  2. Batch costing
  3. Contract costing
  4. Non of these

Answers to the questions of Accounting on this page

Following list gives the correct choice for the answer of the Accounting mcqs.
1569 . A       1571 . B       1573 . A       1580 . C       1583 . A       1585 . B       1592 . B       1594 . B       1599 . B       1603 . E       1606 . A       1609 . B      

Select Page Number

Accounting Page 1Accounting Page 2Accounting Page 3Accounting Page 4Accounting Page 5Accounting Page 6Accounting Page 7Accounting Page 8Accounting Page 9Accounting Page 10Accounting Page 11Accounting Page 12Accounting Page 13Accounting Page 14Accounting Page 15Accounting Page 16Accounting Page 17Accounting Page 18Accounting Page 19Accounting Page 20Accounting Page 21Accounting Page 22Accounting Page 23Accounting Page 24Accounting Page 25Accounting Page 26Accounting Page 27Accounting Page 28Accounting Page 29Accounting Page 30Accounting Page 31Accounting Page 32Accounting Page 33Accounting Page 34Accounting Page 35Accounting Page 36Accounting Page 37Accounting Page 38Accounting Page 39Accounting Page 40Accounting Page 41Accounting Page 42Accounting Page 43Accounting Page 44Accounting Page 45Accounting Page 46Accounting Page 47Accounting Page 48Accounting Page 49Accounting Page 50Accounting Page 51Accounting Page 52Accounting Page 53

MCQ for Practicing Subject Tests

Biology Chemistry Computer Sciences Management Physics Other Subjects
USA College Scholarships Computer Sciences MCQ Management Sciences MCQ Physics MCQ Chemistry MCQ Biology MCQ

----------------------