B.com 3rd Year Cost Accounting Important Questions 2023

Today you will get the b.com 3rd year cost accounting important questions for the session 2023. 

These questions are for you to know the pattern of the examination paper in the third year. 

You can get good marks in the examination of this subject. 

You can prepare the b.com final year cost accounting notes with the help of these questions. 

Before starting to write the answer, read the related chapters from your textbook. 

If your university has recommended some books, then took the help from that. 

This subject will help in the business. 

The cost accounting study helps to know the expenses involved in the business. 

You can apply it to each aspect of your business. 

This is also helpful to reduce the expenses in the business. 

So, this course is best in terms of career prospects. 

Now come to the point. 

After writing the b.com 3rd year cost accounting important questions and answers in your notebook. 

Try to memorize it for long period. This will only happen if you write the answer in your own words.

If you prepare the cost accounting exam questions and answers in advance, then that will save you time and reduce the tension. 

B.com 3rd Year Cost Accounting Important Question Paper

Cost Accounting Bcom 3rd Year Question Paper

  • Write short notes on the following:- (a) Prime Cost (b) Cost Audit (c) Apportionment of Overheads
  • What is economic order quantity?
  • What is service costing?
  • What is Cost Accounting? Describe the scope and importance of cost accounting.
  • Discuss the various methods of absorption of factory overheads. Which of these methods do you consider most scientific and why?
  • Discuss the basic principles to be followed in determining the amount of profit on incomplete contracts.
  • Explain the normal loss, abnormal loss, and abnormal gain and state how they should be dealt with in process cost accounts?
  • Differentiate between cost control and cost reduction. What are the major areas in which cost reduction is usually possible?
  • What do you understand by an incentive plan of wage payment? Explain different methods of incentive wage payment.
  • What is contract costing? For which enterprises it is appropriate? Give an illustration of the contract account.
  • Describe various overheads. What are the methods of allocating factory overhead?
  • Define cost accounting. How does it differ from financial accounting?
  • How would you calculate profit on an incomplete contract under varying Circumstances? Give examples.
  • What can be the causes of the difference in the profit shown by the cost account and financial account? How would you reconcile this difference? 
  • What is the reconciliation statement?
  • State the rules for transferring profit to profit and loss account in case of an incomplete contract.
  • Distinguish between:- (a) Direct and Indirect Cost (b) Cost Unit and Cost Center
  • What do you mean by cash budget? Explain its uses.
  • What are the assumptions on which the marginal costing technique is based?
  • Explain the treatment of plant and machinery in contract accounts.
  • What are the advantages of Cost plus contract to the contractee?
  • What are the cost units used in operating costing?
  • Discuss features of by-products.
  • Discuss the treatment of Loss in Weight in process costing.
  • Distinguish between Contribution and Profit.
  • How do the following reflect on the break-even point and p/v ratio:- (a) Increase in total fixed costs (b) Increase in total physical sales.
  • " Marginal costing is helpful for profit planning". Explain
  • Define Budget Centre.
  • What are the steps in performance budgeting?
  • Explain the methods of apportionment of joint cost.
  • Give a comparative description of absorption costing and marginal costing.

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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.