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CMA Foundation Exam: Fundamentals of Costing Practice Test
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The CMA Foundation exam syllabus includes the following topics for Fundamentals of Cost Accounting:
Meaning of Cost Accounting
Definition of Cost Accounting
Significance of Cost Accounting
Relationship of Cost Accounting with Financial, Accounting, and Management Accounting
Classification of Costs
Format of Cost Sheet 

Related Test: CMA Foundation Exam: Fundamentals of Accounting Practice Test

CMA Foundation Exam: Fundamentals of Costing Practice Test
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25 Questions

1. The costs are differentiated between fixed and variable costs under
2. Direct Wages 2,05,000 and Factory Cost 5,60,000. If the ratio of direct wages and factory overhead is 5: 3 then Direct Material Cost will be
3. Costing is a technique of
4. The written down value of the abandoned plant less its salvage value is
5. Opportunity cost is the best example of
6. Which one is included in financial accounts but not in cost accounts?
7. Costs are classified between direct and indirect costs according to method of classification by
8. Over which the following costs, management is likely to have least control?
9. Cost of free samples and gifts are included in
10. Depreciation on building is an example of
11. Bad debts are included as
12. Advertisement costs are termed as
13. When re-ordering level is 200 units, minimum usage is 20 units, minimum lead time is 5 days, maximum stock is 400 units then re-ordering quantity will be:
14. Which of the following is not a method of costing?
15. Cost reduction -
16. Cost of staff services is an example of
17. The main purpose of cost accounting is to
18. Prime cost may be correctly termed as
19. CAS-21 is related to
20. All indirect costs are termed as
21. Which of the following ‘CAS’ is related to “Pollution Cost”?
22. Variable costs are fixed
23. Prime cost plus factory overheads is known as
24. Which of following is appropriate Cost Unit for timber industry?
25. Which of the following is not a Relevant Cost?

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