Cost Management and Pricing Decisions MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Cost Management and Pricing Decisions, a fundamental topic in the field of Cost Accounting. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Cost Management and Pricing Decisions MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Cost Management and Pricing Decisions mcq questions that explore various aspects of Cost Management and Pricing Decisions problems. Each MCQ is crafted to challenge your understanding of Cost Management and Pricing Decisions principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace Cost Accounting tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Cost Management and Pricing Decisions MCQs are your pathway to success in mastering this essential Cost Accounting topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Cost Management and Pricing Decisions. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Cost Management and Pricing Decisions knowledge to the test? Let's get started with our carefully curated MCQs!

Cost Management and Pricing Decisions MCQs | Page 2 of 15

Q11.
An insensitivity of demand in relevance to change in price will be called
Discuss
Answer: (d).demand inelasticity
Q12.
An estimated cost per unit in long run, which enables the company to achieve it's per unit target, operating income is classified as
Discuss
Answer: (b).target cost per unit
Q13.
The concept, which states that resources are used to meet particular goals is
Discuss
Answer: (a).cost incurrence
Q14.
The target price is subtracted from per unit target operating income to calculate
Discuss
Answer: (d).target cost per unit
Q15.
The selection of target price, understanding customer requirements, improving product designs and use of cross functional teams are considered as aspects of
Discuss
Answer: (d).all of above
Q16.
The kind of cost which on elimination, would not reduce the perceived usefulness that customers can obtain by using the market offering is known as
Discuss
Answer: (d).non-value added cost
Q17.
The companies that perform in competitive markets using the pricing approach are known as
Discuss
Answer: (b).market based approach
Q18.
An income, which a company aims to earn by selling each unit of market offering is classified as
Discuss
Answer: (a).target operating income per unit
Q19.
The systematic evaluation of value chain, to reduce costs and high quality, to achieve satisfied customers is known as
Discuss
Answer: (b).value engineering
Q20.
The major approaches to make decisions about pricing include
Discuss
Answer: (d).both a and c
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