Type of accounting, which reports financial and non-financial data about cost of material and acquiring of resources is classified as

A material accounting
B cost accounting
C supplies accounting
D business accounting

Correct Answer: cost accounting

Type of accounting, which reports financial and non-financial data about cost of material and acquiring of resources is classified as cost accounting. Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense.
Bissoy MCQ
#Management #Management Accounting

Related Questions

Type of accounting which measures, reports and analysis non-financial and financial information to help in decision making is called
A financial accounting
B management accounting
C cost accounting
D decision accounting
An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as
A external accounting
B internal accounting
C business accounting
D financial accounting
In process costing method, when work done in current accounting period and beginning inventory before current accounting period, is classified as
A partial inventory costing method
B current period inventory method
C Last-in, first-out method
D First-in, first-out method
Which of the following management accounting systems places a very strong emphasis on incorporating data relating to its competitors in the preparation of management reports?
A Activity based management
B Flexible budgeting
C Strategic management accounting
D Sales variance analysis
Type of accounting which reports to external parties of organization is known as
A cost accounting
B decision accounting
C financial accounting
D management accounting
The price of raw meterials had gone up by 15% labor cost has also increased from 25% of the cost of ras material to 30% of the cost of raw material. By how much percentage should there be reduction in the usage of raw materials so as to keep the cost same?
A 28%
B 17%
C 27%
D 24%
In a certain office, the human resources department reports that 60% of the employees in the office commute over an hour on average each day, and that 25% of those employees who commute over an hour an average each day commute by train. If an employee at the office is selected at random, what is the probability that the employee commutes over an hour on average by train?
A 0.10
B 0.15
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An accounting approach, in which expected benefits exceed expected cost is classified as
A benefit approach
B cost approach
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D accounting approach
In accounting system, a document which consists of all assigned cost for specific job is classified as
A job cost record
B job cost sheet
C source document
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70 students are enrolled in management, Accounting and Marketing course. 40 student are management,35 in accounting and 30 in marketing, 15 students are enrolled all course. How many student are enrolled in exactly tow of the course.
A 6
B 9
C 8
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