Management Accounting Test Questions

Q.  Management auditing is a part of statutory auditing.

a. True
b. False


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MCQs:  Which of the following statements are true about differential cost?
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MCQs:  Contribution and profit both are same concepts.
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MCQs:  Which of the following statements are true about contribution?
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MCQs:  Profit-Volume ratio is also known as
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MCQs:  Which of the following statements are true about P/V ratio?
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MCQs:  The P/V ratio can be improved by
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MCQs:  Standard costs are better than historical costs because
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MCQs:  Which of the following statements are true about Estimated Costs and Standard Costs?
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MCQs:  Which of the following statements are true about Standard Costs and Budgetary Control System?
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MCQs:  Which of the following statements are true about budget, budgeting & budgetary control?
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MCQs:  Budgetary control is used to make cost accounting systematic and reliable.
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MCQs:  Which of the following statements are not true about budget, budgeting & budgetary control?
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MCQs:  The receipts from dividends, refund of tax, rent, interest etc. are
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MCQs:  The receipts from issue of shares, issue of debentures and sale of fixed investments are
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MCQs:  Flexible budgeting is used when the supply of material and labor required for production is _____.
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MCQs:  Flexible budget is used when
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MCQs:  The material usage variance which results due to the difference between standard quantities specified is measured as
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MCQs:  In a manufacturing firm, the standard quantity of material was set at 10 kg and standard price was fixed at Rs. 2 per kg. The actual quantity consumed was 12 kg and the actual price paid was Rs 1.90 per kg. Determine material usage variance.
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MCQs:  A standard cost card reveals that one unit of Product A needs 2 kg of material X at Rs 10 per kg. During February 800 units of Product A were produced. Actual price paid for material X is Rs 9 per kg and total cost Rs 15,300. Determine material cost variance.
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MCQs:  The management auditor’s work begins
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