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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. Interest on own capital is
2. From the following information, find out purchases when raw material consumed is 26,500; Closing stock 4,500 and opening stock 3,000.
3. CAS-21 is related to
4. Carriage outward is a part of
5. The costs are differentiated between fixed and variable costs under
6. In the situation of increasing prices, the valuation of closing stock is more under:
7. The branch of the accounting dealing with the classification, recording, allocation, summarizing and reporting of current and prospective costs, is known as
8. Process cost is very much applicable in
9. Variable costs are fixed
10. Which of the following term is excluded from the cost accounts?
11. In behavioural analysis, costs are divided into
12. Costs are classified between direct and indirect costs according to method of classification by
13. The main purpose of cost accounting is to
14. Which of the following is not a method of costing?
15. Cost of free samples and gifts are included in
16. Cost of staff services is an example of
17. Prime cost may be correctly termed as
18. All indirect costs are termed as
19. Costs are classified into fixed costs, variable costs and semi-variable costs, it is known as
20. Which of following is appropriate Cost Unit for timber industry?
21. Which one of the following statement is true?
22. 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
23. The written down value of the abandoned plant less its salvage value is
24. On the basis of “Relationship with accounting period” costs are classified as
25. Advertisement costs are termed as

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