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Business English Exercises
 

Cost Accounting

Answers to test questions and links to explanations

Home > Teaching Business English > Business English Lessons, Advanced Level # 70
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cost accounting answer 1
Management or cost accounting systems are part of a company's information system and are used for tracking costs and allocations to judge operational efficiency.

Correct answer: (c) Management

Meaning of business term Management
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501 Business English Exercises — Printable, photocopiable.
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cost accounting answer 2
This is an internal accounting system, rather than one for outside reporting.

Correct answer: (d) internal

Meaning of business term internal
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cost accounting answer 3
There are no fixed rules governing how a company should keep track of cash flows for cost accounting purposes.

Correct answer: (b) fixed

Meaning of business term fixed
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cost accounting answer 4
Capital budgeting is a form of forecasted cost accounting for long-term projects or expenditures.

Correct answer: (a) Capital

Meaning of business term Capital
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cost accounting answer 5
Cost accounting applications are major financial drivers in everyday corporate decision-making.

Correct answer: (b) drivers

Meaning of business term drivers
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cost accounting answer 6
Cost accounting is important for estimating the profitability of current and future activities.

Correct answer: (b) profitability

Meaning of business term profitability
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cost accounting answer 7
When good cost accounting procedures are implemented, the company may find out that they have been producing a non-profitable product or service.

Correct answer: (c) implemented

Meaning of business term implemented
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cost accounting answer 8
Cost accounting motivates managers toward company goals.

Correct answer: (d) motivates

Meaning of business term motivates
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cost accounting answer 9
It also measures the performance of managers and departments in the company.

Correct answer: (c) performance

Meaning of business term performance
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cost accounting answer 10
Variable costs change in proportion to the level of production activity, while fixed costs remain unchanged.

Correct answer: (c) Variable

Meaning of business term Variable
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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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