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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