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

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] c) Cost Accounting [/bg_collapse]

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

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] a) uniform wage structure in all member units. [/bg_collapse]

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

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] d) All of the above [/bg_collapse]

Uniform costing facilitates which audit

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

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] b) Cost Audit [/bg_collapse]

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

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ](b) Cost control and cost reduction [/bg_collapse]

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

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

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] b) Government[/bg_collapse]

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

A.True
B. False

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] B. False

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

 [/bg_collapse]

Uniform costing can be employed in process industries also.

A. True
B. False

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] B. False [/bg_collapse]

Uniform costing is a costing method

A. True
B. False

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] B. False [/bg_collapse]

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

A. Low
B. High

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] B. High [/bg_collapse]

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

A. Marginal costing
B. Uniform costing

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] B. Uniform costing [/bg_collapse]

.…………… 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

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A. Uniform cost manual [/bg_collapse]

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

A. True
B. False

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] B. False [/bg_collapse]

Uniform costing is a useful tool for management control.

A. True
B. False

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A. True [/bg_collapse]

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

A. True
B. False

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A. True [/bg_collapse]

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

A. True
B. False

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A. True [/bg_collapse]

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

A. stable
B. high

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A. stable [/bg_collapse]

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

A. uniform
B. standard

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A. uniform [/bg_collapse]

The system of uniform costing was first introduced in

A.USA
B. United Kingdom

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A.USA [/bg_collapse]

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

A) 1889
B) 1989

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A) 1889 [/bg_collapse]

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

A. Uniform Costing
B.Marginal Costing

[bg_collapse view=”button-orange” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ] A. Uniform Costing [/bg_collapse]