Cost Accounting Fundamentals Quiz

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9 Questions

Which textbook is recommended for the Cost Accounting course?

Cost and Management Solutions by M N Arora

What is the definition of cost?

The amount of expenditure incurred or attributable to a given thing

What are the learning outcomes of the Cost Accounting course?

All of the above

What is the specialization of the Cost Accounting course?

Accounting and Finance

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

Costing

What is the primary objective of cost accounting?

To ascertain costs

According to CIMA, what does cost accounting encompass?

All of the above

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

Cost

What are the main objectives of cost accounting?

All of the above

Test your knowledge on the basic concepts of cost accounting, including cost classifications, cost behavior, and elements of costs. This quiz will also assess your understanding of cost objects and cost units. Perfect for students studying cost accounting or professionals looking to refresh their knowledge.

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