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Cost Accounting Fundamentals Quiz
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Cost Accounting Fundamentals Quiz

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@RadiantWilliamsite

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Questions and Answers

Which textbook is recommended for the Cost Accounting course?

  • Cost and Management Solutions by M N Arora (correct)
  • Accounting System (In Brainstorming Session Class Activity)
  • Cost Accounting 1 Course Code: BSAC2103
  • Accounting : Theory, Problems and ProQuest Resource

    • What is the definition of cost?

  • The amount of expenditure incurred or attributable to a given thing (correct)
  • The nature, objectives, and scope of cost accounting
  • The different classifications of cost
  • The basic concepts related to cost accounting

    • What are the learning outcomes of the Cost Accounting course?

  • Understand the basic concepts related to cost accounting
  • Familiarize between the different classifications of cost
  • Explain the concepts of cost objects, cost units, and cost centers
  • All of the above (correct)

    • What is the specialization of the Cost Accounting course?

    <p>Accounting and Finance</p> Signup and view all the answers

    Which term is defined as 'the techniques and processes of ascertaining costs' according to CIMA?

    <p>Costing</p> Signup and view all the answers

    What is the primary objective of cost accounting?

    <p>To ascertain costs</p> Signup and view all the answers

    According to CIMA, what does cost accounting encompass?

    <p>All of the above</p> Signup and view all the answers

    Which term is defined as 'the amount of expenditure (actual or notional) incurred or attributable to a given thing' according to CIMA?

    <p>Cost</p> Signup and view all the answers

    What are the main objectives of cost accounting?

    <p>All of the above</p> Signup and view all the answers

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