Management Notes

Reference Notes for Management

Uniform costing is a natural outcome of – Uniform Costing Quiz | Multiple Choice Questions

Uniform costing is a natural outcome of

Table of Contents

a) Inter-firm comparison
b) Cash flow comparison
c) Standard Costing
d) Absorption Costing.

The Correct Answer for the given question is option a) Inter-firm comparison

Uniform Costing MCQ with Answers

Uniform costing is a separate method which is adapted for  

a) Marginal Costing
b) Standard Costing
c) Cost Accounting
d) All of the above

c) Cost Accounting 

The existence of uniform costing leads to mcq  

a) uniform wage structure in all member units.
b) increase in labour remuneration
c) decrease in labour remuneration
d) All of the above

a) uniform wage structure in all member units. 

Following is the basic principles of Uniform Costing  

a) Pricing
b) To accept fresh orders at low price
c) To make or buy
d) All of the above

d) All of the above

Uniform costing facilitates which audit

a) Financial Audit
b) Cost Audit
c) Accounting Audit
d) Budget Audit

b) Cost Audit 

Uniform costing helps an individual firm in  

(a) Ascertainment of cost    (b) Cost control and cost reduction
(c) Allocation of costs         (d) apportionment of cost

(b) Cost control and cost reduction 

Uniform costing helps……….. in regulating the prices of production.

a) Customers 
b) Government
c) Shareholders
d) Wholesalers

b) Government

Uniform costing serves as a pre-requisite to financial audit.

A.True
B. False

B. False

Uniform costing serves as a pre-requisite to Cost Audit and Inter-Firm Comparision.

 

Uniform costing can be employed in process industries also.

A. True
B. False

B. False

Uniform costing is a costing method

A. True
B. False

B. False 

The cost of installation of a uniform costing system is……….

A. Low
B. High

B. High 

Mutual trust and co-operation is the basic principle of ……

A. Marginal costing
B. Uniform costing

B. Uniform costing 

.…………… helps the undertaking and their officers to check and ensure that their uniform costing system is in accordance with the uniformity requirement.

A. Uniform cost manual
B. Inter-firm comparison

A. Uniform cost manual 

Uniform costing system and inter firm comparison are independent of each other.

A. True
B. False

B. False 

Uniform costing is a useful tool for management control.

A. True
B. False

A. True 

Uniform cost manual is very important document for successful installation and operation of uniform costing system.

A. True
B. False

A. True 

Uniform costing requires at most co-operation, openness and confidence among the members of the business.

A. True
B. False

A. True 

Price based on uniform cost structure supervised by association of an industry tend to be comparatively…..

A. stable
B. high

A. stable 

The firm which are producing identical products can adopt more suitably the method of …….costing.

A. uniform
B. standard

A. uniform

The system of uniform costing was first introduced in

A.USA
B. United Kingdom

A.USA 

In ….. the National Association of the Store manufactures of the USA introduced first scheme of uniform Costing.

A) 1889
B) 1989

A) 1889 

Inter Firm Caparisons become meaning less in the absence of —-System.

A. Uniform Costing
B.Marginal Costing

A. Uniform Costing

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