5 Questions
What is the nature of Cost Accounting?
It is a branch of accounting that deals with the classification, recording, and allocation of costs.
What are the advantages of Cost Accounting?
Helps in cost control and cost reduction.
What are the various elements of cost?
Material, labor, and overheads.
What is the concept of overheads?
Expenses incurred in the production process that cannot be traced to specific cost objects.
What is the objective of Contract Costing?
To ascertain the cost of each contract separately.
Test your knowledge of Cost Accounting with this theory-based quiz for BBA Sem III. Explore questions on the nature, scope, advantages, and disadvantages of Cost Accounting, as well as concepts like elements of cost and overheads. Challenge yourself with this comprehensive quiz to enhance your understanding of Cost Accounting principles.
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