Question 1
In cost accounting, the aggregate of direct material cost, direct labour cost and direct expenses is known as:
Correct Answer:
Prime cost
Question 2
Which of the following is the PRIMARY objective of cost accounting?
Correct Answer:
To ascertain cost and aid cost control and decision-making
Question 3
A cost that does not change in total within a relevant range of activity, but changes per unit as output changes, is a:
Correct Answer:
Fixed cost
Question 4
Which statement correctly distinguishes cost accounting from financial accounting?
Correct Answer:
Cost accounting reports primarily to internal management; financial accounting reports primarily to external stakeholders
Question 5
A cost incurred in the past that cannot be changed by any future decision is termed a:
Correct Answer:
Sunk cost
Question 1
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About this Exam

Prepare with the CMA Inter Paper 8 Cost Accounting Practice Questions - ICMAI CMA Intermediate Paper 8 Cost Accounting (CA) Exam practice quiz. This question bank includes 100 questions covering cost, costing, accounting, units, and overhead. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CMA Inter Paper 8 Cost Accounting Practice Questions - ICMAI CMA Intermediate Paper 8 Cost Accounting (CA) Exam

This practice set contains 100 questions from the matching question bank and focuses on cost, costing, accounting, units, and overhead. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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