Management Accounting Test Questions

Q.  The most precise test of liquidity is

a. Quick ratio
b. Current ratio
c. Absolute Liquid ratio
d. None of the above


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  Given budgeted output, number of working days, fixed overheads and variable overheads are 15,000 units, 25, Rs 30,000 and Rs 45,000 respectively. The actual output, number of working days, fixed overheads and variable overheads are 16,000 units, 27, Rs 30,500 and Rs 47,000, respectively. The increase in capacity is 5%. Determine variable overhead expenditure variance and fixed overhead variance, respectively.
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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:  Sales margin variance due to volume can be classified into _____parts.
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MCQs:  The formula to estimate the sales margin variance due to sales mixture is
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MCQs:  Sales margin variance due to sales quantities is measured as
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MCQs:  When actual price is higher or lower than the standard price, then it is
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MCQs:  The corrective actions after the analysis of variances has to be taken by
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MCQs:  The type of standard that is best suited for cost control objective is
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MCQs:  Volume variance arises when
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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:  Analytical reports are based on the ______ comparison of results.
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MCQs:  A balance sheet is a form of
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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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MCQs:  Four pairs of words follow the first pair. Select the pair whose relation most closely matches the first pair. Pilot: Cockpit
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MCQs:  Pick the word/phrase most nearly opposite in meaning. Tenacious
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MCQs:  Pick the word/phrase most nearly opposite in meaning. Quandary
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MCQs:  In the following question, a part of the sentence has been underlined. Replace the underlined part with the most appropriate choice from the four options provided below. In case no improvement is required, choose the option marked ‘no improvement needed’. Having given up smoking, he had no utilize of a lighter.
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