Management Accounting Test Questions

Q.  Financial management mainly focuses on

a. Efficient management of every business
b. Brand dimension
c. Arrangement of funds
d. All elements of acquiring and using means of financial resources for financial activities


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MCQs:  Variable overhead variance is represented by expenditure variance only.
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MCQs:  If the actual output is more than the budgeted output, volume variance is
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MCQs:  ABC Ltd is operating a system of standard costing with closing of books done every quarter. The budgeted overheads are Rs 2,55,000. Also, the overhead rate was pre-decided @ Rs 5.1 per labour hours and during a quarter actually used 52,000 labour hours, instead of 51,000 hours. The actual overheads resulted in a rate of Rs 4.9 per labour hours. What is volume variance?
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MCQs:  There are three departments A, B and C in a company, The sales of A, B and C are Rs 3,52,000, Rs 2,88,000 and Rs 1,60,000, respectively. The variable costs of A, B and C are Rs 2,40,000, Rs 1,76,000 and Rs 1,44,000 respectively. The direct fixed costs of A, B and C are Rs 28,000, Rs 22,400 and Rs 12,800. Rank the different departments on basis of relative profitability.
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MCQs:  Which of the following is a kind of information report?
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MCQs:  ___________ are just income statements, wherein the results of one particular year are compared with the findings of past several years.
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MCQs:  Financial control report comes under
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MCQs:  Four pairs of words follow the first pair. Select the pair whose relation most closely matches the first pair. Talkative: Garrulity
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