Eps Class 12 Chapter 20 Objective

12th Entrepreneurship Chapter 20 Objective : Here you can find class 12th eps Objective questions for board exam 2022. Determination of Cost and Profit objective questions is very important for board exam 2022. eps class 12 chapter 20 objective question answer.

Determination of Cost and Profit

  1. Sunk cost is :

(a) Bulding

(b) Wages

(c) Labour

(d) None of these

Ans (a) Bulding

  1. The example of fixed cost is :

(a) Salary of manager

(b) Wages

(c) Material

(d) All of these

Ans (c) Material

  1. Which is not include in prime cost:

(a) Direct Exp.

(b) Direct Labour

(c) Indirect Exp.

(d) None of these

Ans (c) Indirect Exp.

  1. The element of cost is:

(a) Material

(b) Expenses

(c) Labour

(d) All of these

Ans (d) All of these

  1. Which of the following is not an example of variable cost:

(a) Direct Material Cost

(b) Chargeable Expenses

(c) Salary of Office Manager

(d) Direct Labour Cost

Ans (c) Salary of Office Manager

  1. Which of the following is not factory overhead :

(a) Factory Insurance

(b) Depreciation on Plant

(c) Drawing Office Salary

(d) Salary

Ans (d) Salary

  1. Fixed cost per unit increases when:

(a) Production decreases

(b) Production increases

(c) Production remains same

(d) None of these

Ans (a) Production decreases

  1. The best example of variable cost is :

(a) Interest on Capital

(b) Material Cost

(c) Wealth Tax

(d) Rent

Ans (b) Material Cost

  1. Telephone Expense is:

(a) Variable 

(b) Semi-variable

(c) Fixed

(d) None of these 

Ans (c) Fixed

  1. Total Cost Includes:

(a) Prime cost

(b) Works cost

(c) Production cost

(d) All of these

Ans (d) All of these

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