Management Accounting Multiple Choice Questions (MCQ)

Management Accounting Multiple Choice Questions (MCQ)

1-The correct order of process of establishing the standards, is

(A) Study of technical details, Study of existing costing system, Decision about types of standards to be used

(B) Study of existing costing system, Study of technical details, Decision about types of standards to be used

(C) Decision about types of standards to be used, Study of technical details, Study of existing costing system

(D) None of the above

 

2- The cost that tends to remain constant irrespective of the level of activity is called

(A) Variable cost

(B) Fixed cost

(C) Total cost

(D) All of the above

 

3- Cost Accounting restrict itself with _____ transactions

(A) Financial

(B) Spot

(C) Historical

(D) Administrative

 

4- Following is (are) the method(s) of measuring labour turnover.

(A) Replacement Method

(B) Separation Method

(C) Flux Method

(D) All of the above

 

5-Following is (are) the example(s) of semi-variable overheads.

(A) Maintenance cost

(B) Electricity

(C) Health and Accident Insurance

(D) All of the above

 

6- ______ indicates the financial status of the business at given period.

(A) Balance sheet

(B) Accounting ledger

(C) General ledger

(D) All of the above

 

7- In Cash budget, Non operating cash inflow include(s)

(A) Receipt of loan/borrowings

(B) Issue of shares

(C) Sale of fixed assets

(D) All of the above

 

8-Sales Budget is a forecast expressed in

(A) Quantity

(B) Money

(C) Both (A) and (B)

(D) None of the above

 

9-‘LIFO’ stands for

(A) Last In First Out

(B) Last In First Over

(C) Last In First On

(D) None of the above

 

10-Following is used as tool for Cost Control

(A) Marginal cost

(B) Historical cost

(C) Standard cost

(D) All of the above

 

ANSWERS:

1-(A), 2-(B), 3-(C), 4-(D), 5-(D), 6-(A), 7-(D), 8-(C), 9-(A), 10-(C)