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100+ Free CHSE Odisha Cost Accounting Practice Questions

Council of Higher Secondary Education, Odisha (CHSE Odisha) Higher Secondary (+2) Commerce 4th Elective — Cost Accounting (Group-I, Year 2) practice questions are available now; exam metadata is being verified.

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2026 Statistics

Key Facts: CHSE Odisha Cost Accounting Exam

Year-2 only

Cost Accounting is Group-I Year-2 elective (Banking & Insurance is Year 1)

CHSE Odisha Commerce Courses of Studies

100 marks

Council AHSE Year-2 Cost Accounting assessment (with project/viva as notified)

CHSE Odisha scheme of studies / Cost Accounting paper

4 theory units

Introduction & cost sheet; materials; labour; overheads (+ project Unit V)

CHSE Cost Accounting course inputs

AS-2 pricing

FIFO and weighted average methods specified for material issue pricing

CHSE Cost Accounting Unit II

In AHSE fee

No separate elective marketplace fee; included in session exam fee

CHSE Odisha AHSE fee structure via colleges

CHSE Odisha Cost Accounting is the +2 Commerce Group-I Year-2 elective (100 marks at Council AHSE, with project/viva). This free 2026 bank is an English MCQ study adaptation on cost concepts, materials, labour, overheads and methods—not a pure official-format simulation.

Sample CHSE Odisha Cost Accounting Practice Questions

Try these sample questions to test your CHSE Odisha Cost Accounting exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1In CHSE +2 Cost Accounting, which statement best describes cost accounting?
A.The process of recording, classifying, analysing and ascertaining costs for control and management decisions
B.A system that mainly prepares the statutory Balance Sheet for outside shareholders
C.Only the calculation of income-tax liability for a firm
D.A marketing technique for setting maximum retail prices
Explanation: Cost accounting records and analyses costs so management can ascertain unit cost, control spending, and support decisions. It is distinct from pure financial accounting aimed at external reporting.
2Cost accounting developed mainly because of limitations of which branch of accounting?
A.Income-tax accounting only
B.Financial accounting
C.Social accounting
D.National income accounting
Explanation: Traditional financial accounting reports overall profit and position but does not give product-wise costs or detailed control information, which led to the growth of cost accounting.
3Which of the following is a method of costing (not merely a technique)?
A.Marginal costing
B.Standard costing
C.Process costing
D.Absorption costing
Explanation: Process, job, batch, contract, operating and unit/output costing are methods suited to industry type. Marginal, standard and absorption costing are techniques applied across methods.
4Which costing method is most suitable for a road transport undertaking?
A.Job costing
B.Contract costing
C.Process costing
D.Operating (service) costing
Explanation: Transport and similar service businesses use operating (service) costing, often with composite cost units such as tonne-kilometre or passenger-kilometre.
5Ship building is typically costed using which method?
A.Contract costing
B.Batch costing
C.Operating costing
D.Farm costing
Explanation: Large construction-type jobs such as ships, bridges and buildings use contract costing, where each contract is a cost unit.
6A cost unit is best defined as:
A.Any person responsible for a budget
B.A unit of product, service or time in relation to which costs are ascertained
C.Only the factory building itself
D.The difference between sales and profit
Explanation: A cost unit is the quantity of product, service or time (for example per unit, per tonne-km, per patient-day) against which costs are measured.
7Three primary elements of cost are:
A.Prime cost, works cost and profit
B.Only fixed, variable and semi-variable costs
C.Material, labour and other expenses (direct/indirect)
D.Sales, purchases and closing stock
Explanation: By element, costs comprise material, labour and expenses (other expenses), each further classified as direct or indirect.
8Prime cost is the aggregate of:
A.Direct material + factory overheads only
B.Works cost + administrative overheads
C.Selling overheads + distribution overheads
D.Direct material + direct labour + direct (chargeable) expenses
Explanation: Prime cost = direct material + direct labour + direct expenses (chargeable expenses). Factory overheads are added next to reach works (factory) cost.
9Direct materials Rs.50,000; direct labour Rs.30,000; direct expenses Rs.5,000. What is prime cost?
A.Rs.85,000
B.Rs.75,000
C.Rs.80,000
D.Rs.55,000
Explanation: Prime cost = 50,000 + 30,000 + 5,000 = Rs.85,000.
10Prime cost Rs.85,000 and factory overheads Rs.25,000. Works (factory) cost is:
A.Rs.60,000
B.Rs.1,10,000
C.Rs.85,000
D.Rs.25,000
Explanation: Works cost = prime cost + factory (works) overheads = 85,000 + 25,000 = Rs.1,10,000.

About the CHSE Odisha Cost Accounting Practice Questions

Verified exam format metadata for Council of Higher Secondary Education, Odisha (CHSE Odisha) Higher Secondary (+2) Commerce 4th Elective — Cost Accounting (Group-I, Year 2) is pending. The practice questions above remain available while official exam length, timing, passing score, fee, and administrator details are reviewed.