What is Cost in Accounting Multiple Choice Questions (MCQ) PDF Download

MCQ 1: The material or anything for which cost is to be measured is known as

1. measurement object
2. cost object
3. accounting object
4. budget object

MCQ 2: In accounting, the cost which is predicted to be incurred or future cost is known as

1. past cost
2. incurred cost
3. actual cost
4. budgeted cost

MCQ 3: In accounting, the resources sacrifice for achieving or fulfill specific objective is known as

1. source cost
2. sacrifice cost
3. treated cost
4. cost

MCQ 4: In accounting, the cost incurred in past or in historical financial statements is classified as

1. actual cost
2. budgeted cost
3. past cost
4. incurred cost

MCQ 5: According to accounting system the collection of cost data, in an organized way is classified as

1. system accumulation
2. accumulated data
3. cost accumulation
4. organized accumulation