Cost Accounting Knowledge Test
Cost accounting is an accounting method in which recording, classifying, analyzing, summarizing, allocating, and evaluating various alternative courses of action for the control of costs takes place and also it aims to capture a company's cost of production by assessing the input costs of each step of production as well as fixed costs, such as depreciation of capital equipment. It assists management by providing analysis of cost behavior, cost-volume-profit relationships, operational and capital budgeting, and standard costing. Cost accountant assists management by providing analysis of cost behavior, cost-volume-profit relationships, operational and capital budgeting, standard costing, variance analyses of costs and revenues, transfer pricing, activity-based costing, and more. Cost accountant is a person who is responsible to maintain standard costing of each product which is used for various other material movements, variance preparation, and cost sheet.
Our cost accounting test is created & validated by experienced subject matter experts (SMEs) to evaluate cost accounting skills of candidates as per industry standards. Cost accounting knowledge test helps recruiters and hiring managers to assess & hire cost accountant better and faster.
The Cost Accounting test helps to screen the candidates who possess below traits:
Ability to handle sensitive information in a confidential and responsible way
Knowledge of forecasting work in each quarter
Knowledge of Profit Centre Accounting
Knowledge of Budget, Product costing, and validation
Good knowledge of Microsoft Office
Our cost accounts knowledge test ensures that the new hires will be a right fit for the position. The process of hiring such candidates will be done through our screening tests which are automated and will provide you with detail analytical reports of each appeared candidate. Our score reports will help you to measure the accounting skills, critical thinking skills, and problem-solving skills by making your recruitment process easy with an efficient budget.
This pre-employment test is useful for hiring:
- Cost Accountant
- Cost Accounting Manager
- Cost Analyst
The cost accounting knowledge test enables employers and recruiters to identify potential prospects by evaluating working skills and job readiness. For this reason, the emphasis is laid upon evaluating the knowledge of applied skills gained through real work experience, rather than theoretical knowledge.
The test may contain MCQ's (Multiple Choice Questions), MAQ's (Multiple Answer Questions), Fill in the Blank, Descriptive, Whiteboard Questions, Audio / Video Questions, True or False.
Test Duration: 30 minutes
30 Application Questions
Our cost accounting test contains a combination of application and theory questions that help you to evaluate the application as well as practical skills of candidates.
Cost Accounting Test
Question #1 of 2
Put the following activity analysis steps in order:
I. Chart the activities used to complete the product or service
II. Continuously improve the efficiency of all value-added activities
III. Classify all activities as value-added or nonvalue-added
IV. Identify the process objectives defined by what the customer wants
IV, III, II, and I
IV, I, III, and II
I, IV, III, and II
IV, I, III, and II
Question #2 of 2
Which of the following statements regarding customer profitability is NOT correct?
Customers affect our profitability by their buying behavior.
Customers affect our profitability by their effect on our costs.
Information on customer profitability is important for managers, so they can make decisions that will improve firm performance.
Some customers take longer (sometimes much longer) to complete the transaction; the additional time those customers take adds cost to the company.
Note:If score<= 30% then its a Weakness. If score >=70% then its a Strength.
Java EE, Oracle PL/SQL, Analytical Thinking
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