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Accounting Mcqs

Costs that change in response to alternative courses of action are called___________?

  • (A)  Relevant costs
  • (B)  Differential costs
  • (C)  Target costs
  • (D)  Sunk costs
Submitted By :Ali Uppal


An average cost is also known as________?

  • (A)  Variable cost
  • (B)  Unit cost
  • (C)  Total cost
  • (D)  Fixed cost
Submitted By :Ali Uppal


When production is equal to sales, which of the following is TRUE?

  • (A)  No change occurs to inventories for either use absorption costing or variable costing methods
  • (B)  The use of absorption costing produces a higher net income than the use of variable costing
  • (C)  The use of absorption costing produces a lower net income than the use of variable costing
  • (D)  The use of absorption costing causes inventory value to increase more than they would though the use of variable costing
Submitted By :Ali Uppal


Submitted By :Ali Uppal


The most common imprest system is the ________ system?

  • (A)  Petty cash
  • (B)  Cash book
  • (C)  Cash receipt
  • (D)  Discount
Submitted By :Ali Uppal


Submitted By :Ali Uppal


Submitted By :Ali Uppal


One of the most important tools in cost planning is__________?

  • (A)  Direct cost
  • (B)  Cost Sheet
  • (C)  Budget
  • (D)  Marginal Costing.
Submitted By :Ali Uppal


Submitted By :Ali Uppal


Submitted By :Ali Uppal