SEBI Grade A 2024 Free Quiz – Costing Practice Questions Set-6
SEBI Grade A 2024 Free Quiz – SEBI Grade A Costing Practice Question Test. Costing study material for SEBI Grade A Exam 2024.Costing, Companies Act, Economics, Commerce & Accountancy, Management and Finance Notes PDF for SEBI Grade A Preparation 2024.As we all know The Security Exchange Board of India (SEBI) has released the SEBI Grade A 2024 Notification for the recruitment of 97 Assistant Managers across the country.
If you are preparing for SEBI Grade A 2024, you will come across a section on “Costing, Companies Act, Economics”. In this post, you will attempt SEBI Grade A Costing Practice Question for your SEBI Grade A Preparation 2024. If you prepare this thoroughly, you can very easily crack SEBI Grade A 2024.
SEBI Grade A 2024 Free Quiz – Costing Practice Question Set-6
1. Which of the following is a reason why a firm would want to implement ABC?
A. The firm only produces a single product
B. Costs of implementation are too high
C. It may help make decision making more accurate
D. The precision of ABC may be to small to justify its implementation
E. None of these
2. When costing takes into account only the variable cost and not the full production cost we will be using
A. Activity based costing
B. Activity based costing
C. Marginal costing
D. Absorption costing
E. None of these
3. Marking up the cost of a product by an amount to represent profit is known as
A. Predatory pricing
B. Price skimming
C. Full cost pricing
D. Price discrimination
E. None of these
4. An area of a business which collects costs is known as
A. Cost unit
B. Profit centre
C. Cost centre
D. Branch
E. None of these
5. Repairs to factory machinery would be classed as
A. Administration expenses
B. Factory indirect expenses
C. Direct materials
D. Direct expenses
E. All of the above
6. Contribution can be defined as
A. Selling price less total costs
B. Sales revenue less fixed costs
C. Fixed costs less variable costs
D. Selling price less variable costs
E. None of these
7. Any abnormal losses on production are recorded by which one of the following?
| Debit | Credit |
| A. Abnormal loss account | Process account |
| B. Abnormal loss account | Cashbook |
| C. Profit & Loss account | Cashbook |
| D. Process account | Abnormal loss account |
A. A
B. B
C. C
D. D
E. None of the above
8. A collection of individual costs within a single heading is known as
A. Cost centre
B. Cost total
C. Overhead centre
D. Cost pool
E. None of the above
9. The total of all direct costs of production is also known as
A. Variable cost
B. Production costs
C. Total cost
D. Prime cost
E. None of the above
10. If a firm experiences an underabsorption of overheads then the closing stock should be adjusted in which way?
A. Shortfall should be subtracted from closing stock value
B. Shortfall should be added to closing stock value
C. No adjustment should be made
D. A provision equivalent to amount should be deducted from value
E. None of these
| SEBI Grade A Free Study Material- Download Free PDF | ||
| Commerce & Accountancy Practice Questions | Management Practice Questions | Finance Practice Questions |
| Companies Act Practice Questions | Costing Practice Questions | Economics Practice Questions |
Before Starting the preparation of “SEBI Grade A 2024” you should check the Syllabus and Exam Pattern of SEBI Grade A 2024. If you decided to fill out the form for SEBI Grade A 2024, then you required Study Material for SEBI Grade A 2024. Here we are given Best Books For SEBI Grade A 2024. These books are published in two parts. The SEBI Grade A Volume I Book covers (Commerce & Accountancy, Management, and Finance) and the SEBI Grade A Volume II Book covers (Costing, Companies Act 2013 & Economics).
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