Cost Accounting Knowledge Test

Candidates Assessed


Organizations Served


iMocha’s cost accounting knowledge test enables recruiters and hiring managers to hire job-fit candidate within a short period & 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%.

About 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. 

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 & 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 & hire cost accountant better and faster.

Are you a jobseeker looking to sharpen your skills?

Test Summary

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

The cost accounts knowledge test ensures that the new hires will thee 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.

The cost accounting test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio/Video Questions, 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.

Test Duration: 30 minutes

No. of Questions: 30

Level of Expertise: Entry/Mid/Expert

Useful for hiring

  • Cost Accountant
  • Cost Accounting Manager
  • Cost Analyst

Topics Covered

right arrow
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

right arrow
Cost Behavior

Our test evaluates candidate’s understanding about cost behavior analysis which indicates how operating cost changes in relation to a change in some activity

right arrow
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.

right arrow
Cost of Goods Manufactured

Our basic accounting knowledge test helps recruiters to evaluate candidate’s knowledge about goods manufacturing cost in total after production of specific goods

right arrow
Cost of Goods Sold

This test evaluates candidate’s understanding about cost of goods sold which is direct cost of producing the goods sold by a company

right arrow
Process Costing

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

right arrow
Cost Systems

This accounting knowledge test evaluates candidate’s understanding about costing system which estimates cost of a product

right arrow
Break-Even Analysis

Our test assesses candidate’s understanding about break-even point analysis, where total cost and total revenue are equal means of no loss or gain for a business

right arrow
CVP Analysis

This test helps recruiters to assess candidate’s understanding about Cost-Volume-Profit (CVP) analysis by which changes in variable and fixed costs that affect a business’s profit are analyzed

right arrow
Contribution Margin

This test evaluates candidate’s ability to calculate contribution margin which measures profitability of individual products

right arrow
Cost Allocation

Our accounts knowledge test helps employers to evaluate candidate’s proficiency in cost allocation for products

right arrow
Activity Based Costing

This test helps in assessment of candidate’s understanding about Activity Based Costing (ABC) method to allocate more precise overhead cost by assigning them to activities

right arrow
Pricing Decisions

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

right arrow
Job Orders

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

Sample Questions

Choose from our 100,000+ question library or add your own questions to make powerful custom tests

Question types:

Multiple Option





Q 1. Put the following steps to perform an activity analysis in the correct 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 non-value-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 types:

Multiple Option





Q 2. Which of the following statements regarding customer profitability is NOT correct?
Customers affect profitability through their buying behavior.
Customers affect profitability through their effect on costs.
Information on customer profitability is essential for managers to make decisions that will improve firm performance.
Some customers take longer to complete the transaction; the additional time adds cost to the company.

Sample Report

View Full Report . . .

Skill wise performance report by iMocha

Hire job-fit candidates using this test now

You can customize this test by

difficulty level
Setting difficulty level of test      

Choose easy, medium or hard questions from our skill libraries to assess candidates of different experience levels.                       

multiple skills
Combining multiple skills into one test

Add multiple skills in a single test to create an effective assessment. Assess multiple skills together.                                              

adding own skill
Adding your own questions to the test

Add, edit or bulk upload your own coding questions, MCQ, whiteboarding questions & more.                       

tailor made test
Requesting a tailor-made test                  

Get a tailored assessment created with the help of our subject matter experts to ensure effective screening.

Trusted By

gartner Logo

“The best part of iMocha is they have topic wise questions available. So if there is a need to evaluate Java or .Net skills of the employees, you can create specific assessments which will accurately measure their knowledge in that skill.”

Cheryl Tolkinen, Learning & Development Manager, Securian, USA

capgemini logo
coupa logo
ericsson logo
cognizant logo
nice logo
wipro logo

Start hiring job-fit candidates using this assessment