Which of the following is NOT a method of costing? MCQ with Answer and Explanation

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Which of the following is NOT a method of costing?

A. Marginal costing

B. Forensic costing

C. Job costing

D. Process costing

Answer: Option B

Solution (By JKSSB Mock Tests)

Forensic costing is not a standard costing method. Job, process, batch, contract, marginal are methods/techniques.

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

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Question #1

The 'Zero-Rated Supply' under GST includes:

A. Nil-rated supplies

B. Exempt supplies

C. All supplies

D. Exports and supplies to SEZ

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Correct Answer: Option D

Explanation:
Zero-rated supplies attract 0% GST, and input tax credit is available.

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Question #2

The 'Securities Transaction Tax' (STT) is levied on:

A. Commodity transactions

B. Bank deposits

C. Property transactions

D. Purchase and sale of shares and derivatives on recognized stock exchanges

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Correct Answer: Option D

Explanation:
STT is a direct tax on transactions in securities listed on recognized stock exchanges.

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Question #3

Personal and Real accounts are balanced and their closing balances are carried forward to:

A. Trading Account

B. Profit & Loss Account

C. Next accounting period via Balance Sheet

D. Manufacturing Account

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Correct Answer: Option C

Explanation:
Real and Personal accounts reflect assets, liabilities, and equity; they are not closed but carried forward to the next period as opening balances.

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

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