B.com 2nd Year Cost Accounting Important Questions 2022-2023

Today you will get the information about b.com 2nd year cost accounting important questions for the session 2022-2023.

This question pattern is based on the pattern of b.com cost accounting paper 2022.

The collection of questions is from the question bank.

These questions have already been asked several times in past examination papers. 

But still, the existence of questions is continued and very important for the next session examinations. 

Do you know the importance of cost accounting?

The basic definition of cost accounting - cost accounting helps the management foresee the selling and cost price of a product or service. 

That means the main purpose of cost accounting is to control costs, determine the total per unit cost, show profitable and non-profitable activities, compare costs over time, etc. 

Cost accounting is used by a company's management to determine fixed and variable expenses that are connected with the process of manufacturing.

Now come to the point.

First of all, you read the university's recommended syllabus.

If questions mismatch from that then treats this question set as a b.com cost accounting model question paper.

Now write down the cost accounting important questions and answers in a notebook on this subject. 

You can get the help of your textbook to write the answer. 

Cost Accounting B.com 2nd Year Question Paper

Paper-2 Cost Accounting Important Questions

  • What do you understand by elements of cost? Explain in brief.
  • Describe in brief the various methods of wage payments. 
  • What do you understand by overheads?
  • What is a cost sheet and why is it prepared?
  • What is contract costing? To which industries is it found suitable?
  • What are the objects of Transport Costing?
  • Name the industries where process costing is applied.
  • What is meant by the Reconciliation statement? Prepare an imaginary Reconciliation statement.
  • What do you mean by Break-even point and Margin of safety?
  • What do you understand by variance analysis?
  • How is the tender price determined? Which are the things to be kept in mind while computing the tender price? Write.
  • What is meant by 'operating costing'? In which industries is it used? Prepare a transport operating cost sheet with imaginary figures and discuss the various items included in it.
  • What do you understand by Inter-process profit? How is actual profit calculated? Explain with examples.
  • What do you understand by marginal costing? State its usefulness as a tool for corporate decisions. Bring out some limitations of marginal costing.
  • Explain the FIFO and LIFO methods of pricing the material.
  • What do you mean by semi-variable expenses?
  • To what services are operating costs applied?
  • What is the difference between contract costing and job costing?
  • Explain in detail - abnormal loss and abnormal effectiveness.
  • What are the cost control accounts?
  • What do you mean by under-absorption and over-absorption of production overhead? How does it arise? How it is treated in cost accounts?
  • Define integrated accounting system. How does it differ from a non-integrated account system?
  • What do you mean by job costing? To what industries it is applicable?
  • “Costs are classified according to the nature of the operations.” Set out the classification with a brief description of the operations covered by each heading.
  • What do you mean by break-even analysis? Describe its importance and application.
  • Distinguish between Cost Accounting and Financial Accounting.
  • Define the term Cost Centre and explain it with an example.
  • Write a short note on Perpetual Inventory System.
  • What do you understand by Machine Hour Rate? How is it calculated?

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Rajesh Deepak
My name is Rajesh Deepak. I am working in a Private Organization. I started this blog to provide good exam materials for students, who are preparing for the upcoming examinations.