Management Accounting Test Questions

Q.  Turnover ratios are also known as

a. Activity ratios
b. Performance ratios
c. Both a and b
d. None of the above


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  Given the budgeted output in second quarter is 8,000 units. In the first quarter, Fixed overheads were Rs 40,000 Variable overheads were Rs 5 per unit ( Rs 40,000) and semi variable were 20,000 ( 60% varying @ Rs 3 per unit). Determine the total manufacturing overhead budget for the second quarter.
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MCQs:  In fixed budgets costs are classified according to their nature.
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MCQs:  While preparing cash budget from Cash Accounting method, if there is no specific direction in respect of a particular item, it is assumed that payments or receipts will take place in
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MCQs:  If in any month, the amount of payment exceeds, it will be carried forward as opening balance in the next month.
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MCQs:  The total costs at 60% and 70% of activity are Rs 28,290 and Rs 30,348 respectively. Production at 60% level is 720 units and selling price is Rs 38 per unit. Determine Profit and Loss at 80% activity level.
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MCQs:  If variable and fixed costs at 60% capacity are Rs 12,000 and Rs 9,000 respectively, total cost at 80% capacity will be
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MCQs:  Idle time variance arises when
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MCQs:  The formula used for calculation of labour rate variance is
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MCQs:  Labour efficiency variance is also known as
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MCQs:  Management auditor should have a thorough knowledge of
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MCQs:  In profit center revenue represents a monetary measure of output emanating from a profit center in a given period irrespective whether
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MCQs:  Control reports and information reports are a part of
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MCQs:  Which of the following statements are false about management accounting? A) Management accounting is concerned with historical events. B) Management accounting is related only with such instances which can be expressed in monetary terms. C) Management accounting is a part of Financial Management. D) Management accounting information can be disclosed to outsiders.
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MCQs:  The form of balance sheet is
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MCQs:  The term current asset doesn’t cover
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MCQs:  P&L statement is also known as
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MCQs:  Required rate of return > Coupon rate, the bond will be valued at
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MCQs:  If the coupon rate is constant, the value of bond when close to maturity will be
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MCQs:  The lower turnover ratio highlights the under utilizations of the resources accessible at the disposal of the firm.
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MCQs:  Stock velocity establishes a relationship between
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