Costing Interview Questions
Define the term Costing ?
What is meant by Cost Accounting ?
How do you define the term Cost Accountancy ?
State the three most important need for Cost Accounting ?
What is the role of Cost Accounting in Price Determination ?
What are the advantages of Cost Accounting?
State the dis-advantages of Cost Accounting ?
What are the principles Costing System ?
Discuss the factors of Cost Accounting ?
Define Cost Centre ?
Describe the utilities of Cost Centre ?
What the various types of Cost Centre ?
Explain Cost Unit with an Example ?
What is the concept of Cost Accounting ?
Discuss the objectives of Cost Accounting ?
Define the term Cost Sheet ?
What are the advantages of Cost Sheet ?
What is the meaning of Material Control in Cost Accounting ?
State two important types of Labour Cost ?
What do you mean by Batch Costing
Explain the accounting procedure for Batch Costing
Define Economic Order Quantity (EOQ) ?
What is the meaning of the term Contract Costing ?
Discuss the difference between Costing and Contract Costing ?
Define the term Job Costing ?
Discuss the features of Job Costing ?
State the applicability of Job Costing ?
What are the prerequisites for Job Costing ?
Discuss the advantages of Job Costing ?
Explain the disadvantages of Job Costing ?
What is the main objective of Job Costing Procedure?
Define the term Process Costing ?
State the applicability of Process Costing ?
What are the various features of Process Costing ?
Discuss the advantages of Process Costing ?
What is the definition of the term Operating Costing ?
Explain the various applicability of Operating Costing ?
For preparing a cost sheet the costs are classified into the following three broad heads: Discuss ?
Define the term Marginal Costing ?
What are the various features of Marginal Costing ?
Discuss the advantages of Marginal Costing ?
State the dis-advantages of Marginal Costing ?
What are the important decision making areas of marginal costing?
Explain the difference between Marginal Costing and Absorption Costing ?
How do you define the term Standard costing ?