Which of the following is NOT a costing method?
a) Job costing
b) Process costing
c) Incremental costing
d) Batch costing
Which costing method is used for customized or unique products?
a) Process costing
b) Job costing
c) Standard costing
d) Marginal costing
In which costing technique are costs classified into fixed and variable categories?
a) Absorption costing
b) Marginal costing
c) Standard costing
d) Job costing
Which method is suitable for industries producing homogeneous products?
a) Job costing
b) Process costing
c) Batch costing
d) Contract costing
Which of the following is an example of batch costing?
a) Oil refinery
b) Bridge construction
c) Printing press
d) Custom furniture manufacturing
Which costing technique aims to control costs by setting pre-determined costs?
a) Absorption costing
b) Marginal costing
c) Standard costing
d) Historical costing
Which costing method considers all manufacturing costs, including fixed costs?
a) Marginal costing
b) Absorption costing
c) Process costing
d) Variable costing
Which costing method is used in large projects like road construction?
a) Job costing
b) Contract costing
c) Process costing
d) Marginal costing
Which method assigns costs to products based on activities?
a) Activity-Based Costing (ABC)
b) Absorption costing
c) Marginal costing
d) Standard costing
Which of the following is NOT a technique of costing?
a) Standard costing
b) Budgetary costing
c) Historical costing
d) Target costing
Which method calculates cost per unit by dividing total costs by total units produced?
a) Job costing
b) Process costing
c) Unit costing
d) Activity-Based Costing (ABC)
Which of the following is a feature of marginal costing?
a) It considers both fixed and variable costs
b) Only variable costs are considered
c) It is used for long-term decision making
d) It ignores contribution margin
Which costing method is used in textile mills?
a) Job costing
b) Process costing
c) Batch costing
d) Contract costing
Which costing method is useful for businesses making unique, customer-specific products?
a) Batch costing
b) Process costing
c) Job costing
d) Absorption costing
Which costing technique helps in setting a competitive price for a new product?
a) Historical costing
b) Standard costing
c) Target costing
d) Job costing
Which method assigns indirect costs based on specific activities?
a) Process costing
b) Activity-Based Costing (ABC)
c) Absorption costing
d) Standard costing
Which of the following is true about absorption costing?
a) It considers only direct costs
b) It considers only variable costs
c) It considers both fixed and variable costs
d) It is not used in manufacturing industries
Which costing method is most suitable for automobile manufacturing?
a) Process costing
b) Batch costing
c) Job costing
d) Contract costing
Which costing technique helps in controlling overhead costs?
a) Absorption costing
b) Activity-Based Costing (ABC)
c) Marginal costing
d) Standard costing
Which costing technique is used to analyze cost behavior?
a) Absorption costing
b) Marginal costing
c) Standard costing
d) Batch costing
Which of the following is the main purpose of cost accounting?
a) Maximizing sales
b) Controlling and reducing costs
c) Increasing inventory
d) Ignoring indirect costs
Which of the following is NOT a feature of job costing?
a) It is used for customized orders
b) Each job is unique
c) Cost is accumulated for each batch
d) It tracks material, labor, and overhead for each job
Which costing method considers pre-determined costs to measure performance?
a) Standard costing
b) Marginal costing
c) Process costing
d) Job costing
Which costing method is most appropriate for an oil refinery?
a) Batch costing
b) Job costing
c) Process costing
d) Standard costing
Which of the following is a feature of Activity-Based Costing (ABC)?
a) Assigns costs to activities
b) Ignores indirect costs
c) Based only on labor hours
d) Used for tax calculation
Which method is best for a bakery that produces bread in large quantities?
a) Job costing
b) Batch costing
c) Standard costing
d) Contract costing
Which costing method calculates the cost of each process separately?
a) Job costing
b) Process costing
c) Batch costing
d) Target costing
Which technique compares actual costs with pre-determined costs?
a) Marginal costing
b) Absorption costing
c) Standard costing
d) Contract costing
Which method is suitable for hospitals and law firms?
a) Job costing
b) Process costing
c) Batch costing
d) Target costing
