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Determination of Cost and Profit

Board » Bihar Board » Class 12th » English Medium » Commerce » Entrepreneurship (EPS) » L-20: Determination of Cost and Profit

Objective Questions (MCQs)

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ID- 6591

1. Sunk costs are—

  • (A) Building
  • (B) Wages
  • (C) Labour
  • (D) None of these
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ID- 6592

2. An example of fixed cost is—

  • (A) salary of manager
  • (B) wages
  • (C) material
  • (D) all of these
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ID- 6593

3. Which is not included in the prime cost—

  • (A) direct expenses
  • (B) direct labour
  • (C) indirect expenses
  • (D) none of these
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ID- 6594

4. The element of cost is—

  • (A) material
  • (B) rent
  • (C) labour
  • (D) expenses
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ID- 6595

5. Which of the following is not an example of variable cost—

  • (A) Direct Material cost
  • (B) Chargeable Expenses
  • (C) Salary of Office Manager
  • (D) Direct labour cost
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ID- 6596

6. Which of the following is not factory overhead—

  • (A) factory insurance
  • (B) depreciation on plant
  • (C) drawing office salary
  • (D) salary
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ID- 6597

7. Fixed Cost per unit increases when—

  • (A) production decreases
  • (B) production increases
  • (C) production remains same
  • (D) none of these
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ID- 6598

8. The best example of variable cost is—

  • (A) interest on capital
  • (B) material cost
  • (C) wealth tax
  • (D) rent
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ID- 6599

9. Telephone expense is—

  • (A) fixed
  • (B) variable
  • (C) semi-variable
  • (D) none of these
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ID- 6600

10. Total cost includes—

  • (A) prime cost
  • (B) works cost
  • (C) production cost
  • (D) all of the above
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