Common Cost Accounting Questions 2021

  1. Accounting would be an example of which of the following costs typically found in a project?
  2. The systematic examination of the differences between planned and actual contribution margin is
  3. Which of the following measures would not help managers to control and improve operations?
  4. Records of individual items of raw materials would not be maintained
  5. Job order cost accounting systems may be used for planning and controlling a service business
  6. Which of the following is not a drawback of actual costing?
  7. Which report is more effective in evaluating the performance of profit centers
  8. Why do accountants normally calculate cost per unit as an average
  9. Cost accounting is used to develop a financial plan for a company
  10. Why do accountants normally calculate cost per unit as an average?
  11. Which of the following best defines cost?
  12. In the context of accounting which of the following best defines cost,
  13. Cost accounting is a subset of which of the following?
  14. Allocated overhead costs vary depending upon the allocation methods used
  15. Which of the following is not a goal of an accounting system?
  16. Allocated overhead costs vary depending upon the allocation methods used
  17. Most companies that use standards set them at a(n)
  18. Which of the following is not a commonly used cost accounting system?
  19. Which of the following is not considered a cost of providing financial information?
  20. The cost of evaluating potential raw material suppliers is an example of what type of cost?
  21. Which of the following is not a commonly used cost accounting system?
  22. What term describes all business processes associated with providing a product or service
  23. One way to improve efficiency is to produce higher activity output with higher cost
  24. Job order cost accounting systems may be used to evaluate a company’s efficiency
  25. Which of the following is not a way in which management can use job cost information?
  26. Which of the following describes cost-per-order?
  27. A major purpose of a cost accounting system is to, the type of cost accounting system best suited to a particular company depends on?
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