Cost Accounting Basics Quiz

Accounting information is important for every business which will serve the needs of variety of interested parties. To satisfy the needs of all interested parties a sound accounting system is very necessary. Accounting may be divided into three parts i. financial accounting ii. cost accounting iii.management accounting.

Financial accounting is mostly concerned to record  the business transactions in books of accounts so that final accounts can be prepared. Cost accounting is developed to help the internal  management in decision making. The information provided by cost accounting acts as a managerial tool so that business can utilise the available

resources at optimum level.

Cost is the amount of resource given up in exchange for some goods or services. The resources given up are money or money’s equivalent expressed in monetary units. The Chartered Institute of Management Accountants, London defines cost as “the amount of expenditure (actual or notional) incurred on, or attributable to a specified thing or activity”.

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1. Question 1 of 10

   1. Question

   1 points

   The First Battle of Panipat was fought in the year

   • 1526
   • 1527
   • 1764
   • 1776
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   Incorrect
   
2. Question 2 of 10

   2. Question

   1 points

   Changiz Khan invaded India during the rule of

   • Qutubuddin Aibak
   • Iltutmish
   • Balban
   • Alauddin Khilji
   Correct
   

   Incorrect
   
3. Question 3 of 10

   3. Question

   1 points

   The first to invade India out of the following were

   • Afghans
   • Turks
   • Mongols
   • Arabs
   Correct
   

   Incorrect
   
4. Question 4 of 10

   4. Question

   1 points

   The Battle of Plassey was fought in the year

   • 1576
   • 1757
   • 1761
   • 1775
   Correct
   

   Incorrect
   
5. Question 5 of 10

   5. Question

   1 points

   Chinese pilgrim Fahien visited India in

   • 4th century
   • 5th century
   • 6th century
   • 7th century
   Correct
   

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6. Question 6 of 10

   6. Question

   1 points

   The Second Battle of Panipat was fought in

   • 1526
   • 1556
   • 1761
   • 1565
   Correct
   

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7. Question 7 of 10

   7. Question

   1 points

   Megasthenes was the Ambassador of

   • Seleucus Nikator
   • Alexander
   • Darius
   • the Persians
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   Incorrect
   
8. Question 8 of 10

   8. Question

   1 points

   The coin rupia was first issued by

   • Sher Shah
   • Alauddin Khilji
   • Akbar
   • Muhammad-bin-Tughlaq
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   Incorrect
   
9. Question 9 of 10

   9. Question

   1 points

   Among the following,whose empire was the largest ?

   • Babar
   • Akbar
   • Jehangir
   • Aurangzeb
   Correct
   

   Incorrect
   
10. Question 10 of 10

    10. Question

    1 points

    Which of the following renders a proof of trade with Rome in old times ?

    • Harappa
    • Mohenjodaro
    • Lothal
    • Ropar
    Correct
    

    Incorrect