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Cost Accounting Test
Test duration:
30
min
No. of questions:
30
Level of experience:
Entry/Mid/Expert

Cost Accounting Test

iMocha’s cost accounting knowledge test enables recruiters and hiring managers to hire job-fit candidate within a short period and take unbiased hiring decision. Our test is useful for hiring Cost Accountant, Cost Accounting Manager, and Cost Analyst. This cost accounting knowledge test reduces time-to-hire by 45%.

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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. It also 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.

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 cost accounting test is created and validated by experienced Subject Matter Experts (SME) to evaluate cost accounting skills of candidates as per industry standards. Cost accounting knowledge test helps recruiters and hiring managers to assess and hire cost accountant better and faster.

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How it works

Test Summary

The Cost Accounting test helps to screen the candidates who possess the below traits:

  • Ability to handle sensitive information in a confidential and responsible way.
  • Knowledge of forecasting work in each quarter.
  • Knowledge of Profit Center Accounting.
  • Knowledge of budget, product costing, and validation.
  • Good knowledge of Microsoft Office.

The 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 detailed 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.

The cost accounting test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio / Video Questions, AI-LogicBox (AI-based essay evaluation), Job-based Simulations, True or False Questions, etc.

The cost accounting test contains a combination of application and theory questions that help you to evaluate the application as well as the practical skills of candidates.

Useful for hiring
  • Cost Accountant
  • Cost Accounting Manager
  • Cost Analyst
Test Duration
30
min
No. of Questions
30
Level of Expertise
Entry/Mid/Expert
Topics Covered
Shuffle

Job Costing

iMocha’s cost accounting test helps recruiters and hiring managers to assess candidate’s knowledge about job costing method which refers to minimize materials cost, labor cost, and overall project cost.

Process Costing

Our test assesses candidate’s knowledge about process costing which is the tracking process that tracks the number of units passing through the production process during a given period.
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Pricing Decisions

Pricing decisions are the choices that businesses allocate pricing to the products or services.
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Job Orders

iMocha’s cost accounting test evaluates candidate’s knowledge about job orders production which is the process of manufacturing custom or unique products for a customer on requirement.
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Direct and Indirect Costs

This test assesses candidate’s understanding about direct cost which is also known as business expenses such as direct labor, direct materials, and manufacturing supplies cost and indirect costs are overhead expenses, such as rent and utilities, salaries, etc.
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CVP Analysis

This test helps recruiters to assess candidate’s understanding about Cost-Volume-Profit (CVP) analysis by which changes in the variable and fixed costs that affect a business’s profit are analyzed.
Sample Question
Choose from our 100,000+ questions library or add your own questions to make powerful custom tests.
Question type
Multiple Option
Topics covered
Business Management
Difficulty
Easy

Question:

Q 1. 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.
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Test Report
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questions to the test

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