A-ONE COMMERCE ACADEMY/ T.Y.

BAF OBJECTIVES 1

CHAPTER 1 UNIFORM COSTING

Sr. Question Option 1 Option 2 Option 3 Option 4 Ans.

The use by several undertakings of the same costing principles and /
1. or practices is known as _____. Uniform costing 1
The use by several undertakings of the same costing principle and /
2. or practices Unit costing Standard costing Uniform costing Differential costing 2
Ascertainment of Cost control and Apportionment of
3. Uniform Costing helps an individual firm in cost cost reduction Allocation of costs cost 2

4. Inter-firm comparison is one of the aims of Unit costing Uniform costing Standard costing Marginal costing 2
A method of A tec. of evaluating
A method of allocation of the performance of Related to marginal
5. Inter-firm comparison is costing overheads firm in an industry costing 3
6. The objective of uniform costing is to maximize ______. Profit
Cut throat
7. Uniform costing removes _______ competition. competition
8. ________ is the essence of uniform costing. Mutual relations
Uniform cost
9. _______ shows information about costing system manual
10. Uniform costing helps to control _____. Cost
Increase in
11. The objective of Inter firm comparison is _________. productivity
12. The objective of uniform costing is to maximize profits. True False 1
13. Uniform costing may lead to monopolistic conditions. True False 1
The success of uniform costing depends upon the mutual confidence
14. among the participating members. True False 1
15. Uniform cost does not help free exchange of ideas. True False 2
Uniform cost manual contains detailed instructions, plans and
16. procedures to be followed. True False 1
 A-ONE COMMERCE ACADEMY/ T.Y.BAF OBJECTIVES 1

17. The object of inter firm comparison is to improve efficiency. True False 1
18. Inter firm comparison does not maximize profitability. True False 2
19. Central organization is necessary to analyse the data. True False 1
Inter firm comparison helps the firm to know the point of efficiency
20. or inefficiency in relation to other firms. True False 1
The scheme of inter comparison cannot be implemented successfully
21. without central organization. True False 1
22. Uniform costing does not eliminated competition. True False 2
23. Uniform costing helps to control cost. True False 1
Uniform costing is a distinct method of costing. True False 2
24.
Uniform cost A/c is used by creditors to evaluate credit- worthiness. True False 2
25.
Debit and credit are basic concepts used in Uniform Cost Accounting. True False 2
26.
Accrual is one of the fundamental assumptions of Uniform Cost A/c. True False 2
27.
Uniform costing is term which includes cost accounting. True False 2
28.
Uniform costing, costing, cost accounting and cost accountancy mean
one and the same thing. True False 2
29.
Uniform cost accounting is a branch of unit costing. True False 2
30.
31. Uniform cost A/c provides cost info. to the shareholders. True False 2
Uniform costing may be used in educational institutions like schools
32. to ascertain cost of uniforms. True False 2

33. A profitable business concern does not need uniform costing. True False 2
34. Uniform costing helps an individual firm in cost _____. Control Ascertainment 1
35. Inter-firm comparison is one of the aims of _____. Standard costing Uniform costing 2
36. Inter-firm comparison is a _____ of costing. Method Technique 2
Technique of
37. Uniform costing is a System of costing costing Method of costing 1
 A-ONE COMMERCE ACADEMY/ T.Y.BAF OBJECTIVES 1

Does not remove Removes cut

cut throat throat competition
competition among among the Does not provide
38. Uniform costing the members members reliable data 2
To improve
production To reduce labour To reduce labour
39. The object of uniform costing is capacity turnover absenteeism 1
Mutual
40. The requisite of uniform costing is relationship Mutual conflict Rivalry 1
The document which shows information about costing system to be Uniform cost
41. followed is manual Handbook Annual report 1
Installation of Installation of Installation of
42. Uniform costing helps in costing system machinery equipments 1
43. Uniform costing helps to control Manpower Cost Finance 2
Mutual exchange Mutual
44. Uniform costing requires Mutual conflict of information understanding 2
Increase
productivity and Increase morale of Increase loyalty of
45. The objective of inter firm comparison is to efficiency employees consumers 1