Management Accounting Test Questions

Q.  The 3 Ps, i.e. the three objectives of analysis and interpretation of financial statements are : Progress, Position and Prospects.

a. True
b. False


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MCQs:  Profit on sales is measured as
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MCQs:  Sales for desired profit is measured as
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MCQs:  Budgetary control deals with just total variances whereas in standard costing variances are measured for different departments and are disclosed in total for the entity as a whole.
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MCQs:  Which of the following statements are true about standard costing & budgetary control?
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MCQs:  To establish an effective system of standard costing it is essential that A) The technical process of operation should be prone to planning B) The cost of the products should be given C) The process or operating costs of products should be provided D) The standard costing should be consistent with the technical procedure of the production of the specific entity
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MCQs:  On the basis of period, budgets may be classified into _________ groups.
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MCQs:  R&D budget and Capital expenditure budget are examples of
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MCQs:  _______ is prepared for single level of activity and single set of business conditions.
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MCQs:  The payment made in lieu of purchase of fixed asset is
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MCQs:  Project forecast method is also known as
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MCQs:  While preparing a flexible budget, direct material, direct labour and direct expenses all are placed under the head of variable cost.
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MCQs:  The cost of material at 50% capacity is Rs 8,000 and budget is to be prepared at 60%, 90% and 100% of normal capacity. The cost of material at 60% and 90% capacity will be
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MCQs:  Material yield variance arises when
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MCQs:  Material yield variance is measured using formula
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MCQs:  While calculating material yield variance if Standard loss on actual mix is more than actual loss on actual mix then the variance is
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MCQs:  Which of the following statements are true about management audit?
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MCQs:  The responsibility centers, for control purposes, may be classified into _____ types.
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MCQs:  When it comes to accounting ratios in reporting, they should be
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MCQs:  Which of the following are tools of management accounting? A) Decision accounting B) Standard costing C) Budgetary control D) Human Resources Accounting
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MCQs:  State which of them are true? A) When ratios of previous years are compared with current years, they are called trend ratios. B) Trend percentages and trend ratios are used in static analysis. C) Reliability of financial analysis depends upon the reliability of financial data.
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