MANAGEMENT ACCOUNTING (MCQS)

S.Y B.COM

SEMESTER - 4

MID SEMESTER EXAMINATION

MCQS

UNIT - I

CHAPTER - 1

INTRODUCTION TO MANAGEMENT ACCOUNTING 

(1) Management accounting is an extension of:

(A) Financial accounting

(B) Product costing

(C) Cost accounting

(D) Financial management

(2) The true and fair view of the overall results of the entity's transactions is presented in :

(A) Cost accounting

(B) Financial accounting

(C) Management accounting

(D) Financial management

(3) The adoption and analysis of accounting Information and its diagnosis and explanation in such a way as to assist management is done with :

(A) Management accounting

(B) Cost accounting

(C) Management information system

(D) Financial accounting 

(4) The decision making needs of the management is met through.

(A) Cost accounting

(B) Management accounting

(C) Forensic accounting

(D) Futuristic management

(5) ________ accounting records and analyzes business events long after they have taken place.

(A) Cost

(B) Financial 

(C) Management 

(D) Managerial 

(6) _________ accounting provide methods and techniques for evaluating the performance of the management in the light of the objectives of the enterprise, thus assisting in of the implementation of the principle 'management' by objectives.

(A) Management 

(B) Financial

(C) Cost

(D) Activity based 

(7) Pin pointing the significant deviations between actual and expected activities suggesting appropriate corrective measures in deserving cases is called.

(A) Management by exception 

(B) Management by objectives

(C) Exception accounting

(D) Forensic management

(8) ______Accounting makes corporate planning and strategy effective and meaningful. 

(A) Financial

(B) Cost 

(C) Management

(D) Responsibility

(9) One of the following is not with in the scope of Management Accounting.

(A) Classification and collection of costs

(B) formulation of policies

(C) Planning and coordinating the activities of the enterprise

(D) Decision making on alternative courses of action

(10) The ________ Accounting needs to be dynamic and forward looking.

(A) Cost 

(B) Management

(C) Financial

(D) Product

(11) _______ accounting helps the organization prepare long-term plans, formulate corporate strategy and forecast and evaluate competitors.

(A) Strategic management

(B) Management

(C) Cost 

(D) Financial

(12) ________ accounting serves not only as a tool in the hands of management, but also provides for a technique evaluating the performance of the management itself.

(A) Cost

(B) Management

(C) Financial

(D) Divisional

(13) The role of management accounting does not normally includes the function of

(A) Decision making

(B) Product costing

(C) Cash management

(D) Planning and control

(14) The role of financial management does not usually include responsibility for

(A) Treasury management

(B) Risk management 

(C) Corporate finance 

(D) Compliance with accounting standards 

(15) The Management accounting concepts, additional to the fundamental accounting concepts do not included the 

(A) Going concern concept

(B) Reliability concept

(C) Controllability concept

(D) Interdependency concept

(16) Which costs are charged to a product using the method of absorption costing

(A) Materials costs plus direct labour costs

(B) Production overheads plus direct labour costs

(C) Total production costs

(D) Direct labour costs

(17) Using the marginal costing method, contribution is equal to total sales revenue less

(A) Direct labour costs

(B) Fixed costs

(C) Variable costs

(D) Total costs

(18) Marginal costing may be preferrred to absorption costing because it

(A) Complies with International Accounting Standard (IAS)2

(B) Enables use of the opportunity cost approach

(C) Complies with the accruals or matching concept

(D) Ensures the recovery of total costs in sales pricing

(19) Purpose of management accounting is to 

(A) Help banks make decisions 

(B) Help investors make decision 

(C) Past oriented

(D) Help managers make decisions

(20) Function of management accountant who works as business partner is classified as

(A) Asset function

(B) Investment function

(C) Line function

(D) Staff function

(21) An officer who is responsible for financial operations of organization is considered as

(A) Chief financial officer

(B) Chief line function

(C) Chief manager 

(D) Chief staff function 

(22) In management accounting, an emphasis and focus must be given on

(A) Future oriented

(B) Past oriented

(C) Communication oriented 

(D) Bank oriented 

(23) Type of accounting which measures, reports and analysis non-financial and financial information to help in decision making is called

(A) Financial accounting 

(B) Cost accounting

(C) Management accounting 

(D) Decision accounting 

(24) Type of accounting which reports to external parties of organization is classified as

(A) Cost accounting 

(B) Financial Accounting

(C) Decision accounting 

(D) Management accounting 

(25) Human resource management, IT management and management accountants are classified as

(A) Marketing management 

(B) Staff management

(C) Production management

(D) Line management

(26) Purpose of financial accounting is to

(A) Communicate company position to investors

(B)  Help managers make decisions

(C)  Future oriented

(D) Single person orientation

(27) An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as

(A) External accounting

(B) Internal accounting

(C) Business accounting

(D) Financial accounting 

For More Detail Contact Us And Follow On Study For Buddies

Thank You