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- Management Accounting Test Questions - Set 10
MCQs 1: In a month, payment for salary was Rs. 5,750 when the lag in payment of salary is 1/8 month. If total salaries of current month are Rs 6,000, determine the salaries of previous month.
MCQs 2: Cash budget is a __________ budget.
MCQs 3: Semi-variable expenses increases with the increase in the level of activity,
In the same proportion as the activity increases
Not in the same proportion as the activity increases
In inverse proportion of activity increase
None of the above
MCQs 4: Semi-variable cost will not be zero, even if production is nil.
MCQs 5: Material sub usage variance is calculated when
A) When quantity of wastage is not given
B) When quality of output is not given
C) When price of wastage is not given
D) When total cost of output is not given
MCQs 6: Material sub-usage variance is also known as
MCQs 7: Material sub usage variance is measured by using the formula
(Actual yield + Standard yield) * Standard cost per unit
Standard cost of revised standard mix - Standard cost of actual mix
(Standard unit price - Actual unit price) * Actual quantity used
(Standard quantity - Revised standard quantity) * Standard price
MCQs 8: Management auditor should be well versed with
Management by exception
Management by objectives
Principles of delegation of authority
All of the above
MCQs 9: Which of the following is responsibility center?
MCQs 10: On the basis of information contained in the reports, the managerial reporting can be divided into
Operating reports and financial reports
Trend reports and analytical reports
Individual activity reports and joint activity reports
Internal reports and external reports
MCQs 11: Management accounting is related with
A) The problem of choice making
B) Recording of transactions
C) Cause and effect relationships
MCQs 12: Analysis of any financial Statement comprises
MCQs 13: Which of the following statements are true?
A) Common-size balance sheet shows relative value of the various items.
B) In the common size income statement, each product is represented as a percentage of the net sales figure.
C) Common size income statements represent the various elements as a percentage of the gross profit.
MCQs 14: The point of tangency between risk return indifferences curves and efficient frontier highlights:
MCQs 15: A portfolio comprises two securities and the expected return on them is 12% and 16% respectively. Determine return of portfolio if first security constitutes 40% of total portfolio.
MCQs 16: Net operating profit ratio determines ___________ while net profit ratio determines
Overall efficiency of the business, working efficiency of the management
Working efficiency of the management, overall efficiency of the business
Overall efficiency of the external market, working efficiency of the internal management
None of the above
MCQs 17: Operating ratio is calculated by
(Operating Cost / Gross sales) * 100
(Operating Cost / Gross sales) * 100
(Operating cost / Net sales) * 100
None of the above
MCQs 18: Determine Operating ratio, if operating expenses is Rs 60,000, Sales is Rs 9,40,000, Sales Return is Rs 40,000 and Cost of net goods sold is Rs 6,60,000.
MCQs 19: If reserve for bad and doubtful debts is mentioned in the question of Funds Flow Statement Preparation, it can be shown as
In the schedule by deducting from total debtors under current assets
In the schedule separately under the heading of capital liabilities
Both a and b
None of the above
MCQs 20: Funds Flow Statement is also known as
Statement of Funds Flow
Statement of Sources and Application of Funds
Statement of Sources and Uses of Funds
All of the above
MCQs 21: Cash outflow on purchases is calculated by
Purchases + Opening Creditors + Opening B/P – Closing Creditors - Closing B/P
Purchases + Opening Creditors - Closing Creditors + Closing B/P
Purchases - Opening Creditors - Opening B/P + Closing Creditors + Closing B/P
None of the above
MCQs 22: The amount of operating expenses which are actually been paid in cash are shown under:
MCQs 23: Given salary expenses Rs 40,000, Outstanding in the beginning of the year: Rs 5,000 and outstanding at the end of the year Rs 10,000. Cash outflow on salary will be:
MCQs 24: In Analytical method of calculating marginal costing, it is determined on the basis of past records.
MCQs 25: Theory of contribution is the excess of sales over variable costs.
MCQs 26: Which of the following statements related to Contribution Analysis are true?
If contribution is zero, there is loss equal to fixed costs
If contribution is negative, loss is less than fixed costs
If contribution is positive and more than fixed cost there will be profit
All of the above
MCQs 27: Marginal costing is helpful in
MCQs 28: The various aspects of a price policy are
A) Normal price
B) Minimum price
C) Depression price
D) Special price including dumping
MCQs 29: Differential cost is a part of routine accounting records.
MCQs 30: What will be the B.E.P if Variable cost ratio is 70% and Fixed cost is Rs 36,000.
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