In cost accounting, 'Variable Cost' per unit: MCQ with Answer and Explanation

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In cost accounting, 'Variable Cost' per unit:

A. Fluctuates randomly

B. Remains constant

C. Decreases with production

D. Increases with production

Answer: Option B

Solution (By JKSSB Mock Tests)

Variable cost per unit remains constant; total variable cost changes with output.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

Input Tax Credit under GST is available for:

A. Personal consumption goods

B. All goods and services

C. Goods and services used for business purposes

D. Exempted supplies only

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Correct Answer: Option C

Explanation:
Input tax credit can be availed only on inputs used for business purposes, subject to conditions under GST law.

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Question #2

A: The Accounting Equation is Assets = Liabilities + Capital. R: This equation is based on the Dual Aspect Concept. Choose the correct option.

A. A is false but R is true

B. Both A and R are true but R is NOT the correct explanation of A

C. Both A and R are true and R is the correct explanation of A

D. A is true but R is false

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Correct Answer: Option C

Explanation:
The accounting equation represents the balance sheet. It is derived from the Dual Aspect Concept, which states that every transaction has two equal and opposite effects, ensuring the equation always balances. R correctly explains A.

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Question #3

The 'Blockchain' technology in supply chain finance can provide:

A. Real-time visibility and immutable transaction records

B. Manual errors

C. Paper-heavy process

D. Delayed settlement

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Correct Answer: Option A

Explanation:
Blockchain enables transparent, secure, and instant tracking of transactions.

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