Previous Year Very Short Questions of CA-1 (BCOM 4th)

Cost accounting-1

Previous year question paper with solutions for Cost accounting-1

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  1. What do you mean by opportunity cost?
  2. What is cost unit?
  3. What is apportionment of overhead?
  4. What is material mix variance?
  5. What do you mean by P/V ratio?
  6. What is target costing?
  7. What is budgetary control?
  8. What do you understand by the concept of equivalent production?
  9. In contract costing what is meant by escalation clause?
  10. What is factory cost?
  11. Distinguish between controllable cost and uncontrollable cost.
  12. What do you understand by ‘Inventory Control’ state its objects?
  13. Distinguish between ‘Allocation and Apportionment of Overheads’.
  14. Write a note on ‘Accounting for by-product’.
  15. Difference between absorption costing and marginal costing.
  16. Distinguish between contribution and profit.
  17. What is environmental costing?
  18. What do you mean by Zero Based Budgeting?
  19. Factory overheads
  20. Profit volume ratio
  21. Work certified
  22. Marginal Cost
  23. Labour Rate Variance
  24. Merricks multiple piece rate plan
  25. Margin of safety
  26. FIFO