COM 3636 Test 2 MCQ
Cost Control Mastery Quiz
Test your knowledge on cost control and budgeting practices with this engaging multiple choice quiz. Perfect for students and professionals alike, it challenges you to apply key concepts in financial management.
Prepare to explore:
- Standard and operating costing
- Budgetary control techniques
- Costing methods in various industries
_____________ cost represents the yardstic for controlling cost.
Standard Cost
Marginal cost
Process Cost
Variable Cost
_____________ budget is prepared for the estimation of cost at various levels of activity.
Cash
Functional
Flexible
Production
Budgetary control means,
Preparing Budget
Fixing Standards
Finding difference
Maximising Profit
Operating costing is otherwise known as ________________________.
Standard Costing
Activity Based Costing
Marginal Costing
Service Costing
Repairs and maintenance expenses are examples for;
Standing Charges
Operating Charges
Semi fixed Charges
Installation Charges
In hospitals, ______________________________ costing is being employed.
Hospital
Operating
Job Costing
None of the above
The most profitable level of operation is known as,
Optimum
Base
Equilibrium
Maximum
Comparing the actual with the standard is known as;
Variance Analysis
Standard Costing
Operations Costing
Marginal Costing
Standards refer to __________ Data.
Historical
Real
Fixed
Calculated
Operating costing is otherwise known as;
Service Costing
Marginal costing
Standard Costing
Batch Costing
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