Test Bank Cos r r
t Accounting 1
r r
Third year-English section
r r
Faculty of commerce- University of Sadat city
r r r r r r
Prepared By: r
Prof. Dr. Abd El-
r r
Hameed Ahmed Shahin Dr. Ismael Farag
r r r r r r
Sayed Ahmed Badr r r
Mrs.Noha Hamed r r
2023-2024
1
Tests bank for Cost Accounting 1
r r r r r Third Year 2023
r r
, Table of Contents r r
No. Contents Page No. r
1 Chapter 1: Conceptual framework of Cost Accounting.◻
r r r r r r 3 - 16
r r
2 Chapter 2: Cost Classification and Reports.◻
r r r r r
17 - 54
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3 Chapter 3: Theories of cost Measurement.◻
r r r r r
55 - 81
r r
4 Chapter 4: Accounting for the cost of material.◻
r r r r r r r
82 - 103
r r
◻
2
Tests bank for Cost Accounting 1
r r r r r Third Year 2023
r r
, Chapter 1 r
Conceptual Frame r
work of Cost Accou
r r r
nting
3
Tests bank for Cost Accounting 1
r r r r r Third Year 2023
r r
, First: Select the True and False statements from the following:
r r r r r r r r r
1 Cost accounting is a new concept. It has not been around for ages..
r r r r r r r r r r r r
The estimated costs depend on the historical data to determine the results of o
r r r r r r r r r r r r r
2 perations and financial position of a business, and control cost
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(False).
it is difficult to determine an exact cost or a true cost because no value of cost i
r r r r r r r r r r r r r r r r r
3 s true.
r
The estimated cost which depend on the actual costs to predict costs of fut
r r r r r r r r r r r r r
4 ure periods. r
(True).
Limitations placed on financial accounting have made accountants find ne r r r r r r r r r
5 w techniques to serve the industry, This helped in the origin and
r r r r r r r r r r r
evolution of cost accounting. r r r
After the industrial revolution, businesses were small and characterized by st
r r r r r r r r r r
6 raightforward market transactions between individuals and (False).
organizations.
Standard costs is depends on scientific approaches to predetermine the targ
r r r r r r r r r r
et costs that should be accomplished in future periods, and this type of costs
r r r r r r r r r r r r r r
7 was useful in controlling costs and performance, but it doesn’t consider othe
r r r r r r r r r r r
r factors such as revenues, assets, and liabilities.
r r r r r r r
The origin and evolution of cost accounting can be traced back to the ind
r r r r r r r r r r r r r
8 ustrial revolution. r
(True).
Growing competition among the manufacturers is not one of the factors hav
r r r r r r r r r r r
9 e made accountants find new techniques through cost accounting to
r r r r r r r r r
serve the industry. r r
cost means the amount of expenditure (actual or notional) incurred on, or att
r r r r r r r r r r r r
10 ributable to, a given thing to generate future benefits.
r r r r r r r r
(True).
11 Cost means sacrificed resources to obtain something for personal use.
r r r r r r r r r
12 Planning represents a process of determining cost. r (False). r r r r r
Cost Accounting involves accurate analyzing, standardizing, forecasting, an
r r r r r r r
13 d comparing relevant costing data to interpret and report various
r r r r r r r r r
concern areas to management. r r r
Financial Accounting includes preparation of budgets, determination of sta
r r r r r r r r
14 ndard costs based on technical estimates, identifying variances and reasons t (False).
r r r r r r r r r r
hereof, etc. r
Cost Accountancy represents the application of costing and cost accounting in
r r r r r r r r r r r
15 a business setup.
r r
Cost Accountancy facilitates management with cost control initiatives, asc
r r r r r r r r
16 ertainment of profitability and informed decision making. r
(True).
r r r r r
The main objective of cost accounting is to find out the cost of products and s
r r r r r r r r r r r r r r r
17 ervices rendered with a reasonable degree of accuracy.
r r r r r r r
4
Tests bank for Cost Accounting 1r r r r r Third Year 2023 r r
t Accounting 1
r r
Third year-English section
r r
Faculty of commerce- University of Sadat city
r r r r r r
Prepared By: r
Prof. Dr. Abd El-
r r
Hameed Ahmed Shahin Dr. Ismael Farag
r r r r r r
Sayed Ahmed Badr r r
Mrs.Noha Hamed r r
2023-2024
1
Tests bank for Cost Accounting 1
r r r r r Third Year 2023
r r
, Table of Contents r r
No. Contents Page No. r
1 Chapter 1: Conceptual framework of Cost Accounting.◻
r r r r r r 3 - 16
r r
2 Chapter 2: Cost Classification and Reports.◻
r r r r r
17 - 54
r r
3 Chapter 3: Theories of cost Measurement.◻
r r r r r
55 - 81
r r
4 Chapter 4: Accounting for the cost of material.◻
r r r r r r r
82 - 103
r r
◻
2
Tests bank for Cost Accounting 1
r r r r r Third Year 2023
r r
, Chapter 1 r
Conceptual Frame r
work of Cost Accou
r r r
nting
3
Tests bank for Cost Accounting 1
r r r r r Third Year 2023
r r
, First: Select the True and False statements from the following:
r r r r r r r r r
1 Cost accounting is a new concept. It has not been around for ages..
r r r r r r r r r r r r
The estimated costs depend on the historical data to determine the results of o
r r r r r r r r r r r r r
2 perations and financial position of a business, and control cost
r r r r r r r r r
(False).
it is difficult to determine an exact cost or a true cost because no value of cost i
r r r r r r r r r r r r r r r r r
3 s true.
r
The estimated cost which depend on the actual costs to predict costs of fut
r r r r r r r r r r r r r
4 ure periods. r
(True).
Limitations placed on financial accounting have made accountants find ne r r r r r r r r r
5 w techniques to serve the industry, This helped in the origin and
r r r r r r r r r r r
evolution of cost accounting. r r r
After the industrial revolution, businesses were small and characterized by st
r r r r r r r r r r
6 raightforward market transactions between individuals and (False).
organizations.
Standard costs is depends on scientific approaches to predetermine the targ
r r r r r r r r r r
et costs that should be accomplished in future periods, and this type of costs
r r r r r r r r r r r r r r
7 was useful in controlling costs and performance, but it doesn’t consider othe
r r r r r r r r r r r
r factors such as revenues, assets, and liabilities.
r r r r r r r
The origin and evolution of cost accounting can be traced back to the ind
r r r r r r r r r r r r r
8 ustrial revolution. r
(True).
Growing competition among the manufacturers is not one of the factors hav
r r r r r r r r r r r
9 e made accountants find new techniques through cost accounting to
r r r r r r r r r
serve the industry. r r
cost means the amount of expenditure (actual or notional) incurred on, or att
r r r r r r r r r r r r
10 ributable to, a given thing to generate future benefits.
r r r r r r r r
(True).
11 Cost means sacrificed resources to obtain something for personal use.
r r r r r r r r r
12 Planning represents a process of determining cost. r (False). r r r r r
Cost Accounting involves accurate analyzing, standardizing, forecasting, an
r r r r r r r
13 d comparing relevant costing data to interpret and report various
r r r r r r r r r
concern areas to management. r r r
Financial Accounting includes preparation of budgets, determination of sta
r r r r r r r r
14 ndard costs based on technical estimates, identifying variances and reasons t (False).
r r r r r r r r r r
hereof, etc. r
Cost Accountancy represents the application of costing and cost accounting in
r r r r r r r r r r r
15 a business setup.
r r
Cost Accountancy facilitates management with cost control initiatives, asc
r r r r r r r r
16 ertainment of profitability and informed decision making. r
(True).
r r r r r
The main objective of cost accounting is to find out the cost of products and s
r r r r r r r r r r r r r r r
17 ervices rendered with a reasonable degree of accuracy.
r r r r r r r
4
Tests bank for Cost Accounting 1r r r r r Third Year 2023 r r
