In accounting, the cost which is predicted to be incurred or future cost is known as ________?
Correct answer: D. budgeted cost
- A. past cost
- B. incurred cost
- C. actual cost
- D. budgeted cost
Explanation
A budgeted cost is a cost expected or planned to be incurred in the future. Actual or incurred cost refers to expenditure that has already occurred, while past cost is historical cost.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
Practise Cost Accounting
941 free Cost Accounting MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Accounting questions like this
Accounting is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Cost Accounting questions
The process of tracing the direct costs and allocation of indirect costs is known as __________?
The cost which is changed in proportion to level the total volume is ___________?
The cost, which is related to specific cost object and economically traceable, will be classified as _________?
The process of assigning the indirect costs to any specific cost object is known as ___________?
The relationship between change in activity and change in total costs is considered as __________?
According to accounting system the collection of cost data, in an organized way is classified as ___________?