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MCQs 1: Calculate B.E.P if Fixed cost is Rs 1,50,000, Variable cost is Rs 2,00,000 and Profit is Rs 1,50,000.

Rs 2,00,000 Rs 2,50,000 Rs 3,00,000 None of the above
Answer Explanation

MCQs 2: Given Sales in first and second year is Rs 80,000 and Rs 90,000 respectively. Also, profit is Rs 10,000 and Rs 14,000 respectively. What is the break-even point in rupees?

Rs 10,000 Rs 24,000 Rs 55,000 None of the above
Answer Explanation

MCQs 3: Margin of safety is that sales which is above Break-even point.

True False
Answer Explanation

MCQs 4: Margin of safety can be increased by

Decrease in setting price Decline in volume of production Reduction in fixed or the variable costs or both None of the above
Answer Explanation

MCQs 5: The standard which can be attained under the most favorable conditions possible.

Attainable Standard Ideal Standard Expected Standard None of the above
Answer Explanation

MCQs 6: ________reflects a level of attainment based on high level efficiency which can be achieved.

Attainable Standard Expected Standard Both a and b None of the above
Answer Explanation

MCQs 7: ________ requires constant revision according to the real circumstances.

Attainable Standard Perfection Standard Ideal Standard None of the above
Answer Explanation

MCQs 8: ________ is the first step of budgetary system and all other budgets depends on it.

Cost budget Sales budget Production budget None of the above
Answer Explanation

MCQs 9: _______ is designed after assessment of the volume of output to be produced during budget period.

Cost budget Sales budget Production budget None of the above
Answer Explanation

MCQs 10: While preparing direct materials budget, the price and quality of the raw materials are accounted.

True False
Answer Explanation

MCQs 11: Which of the following statements are true about cash budget?

Cash budget and cash flow statement are same Fixed expenses are not shown in cash budget Actual payments and receipts are shown in cash budget None of the above
Answer Explanation

MCQs 12: A columnar statement is prepared in ________ in which first column shows items of payments and receipts, whereas the other columns represents the amount of payments and receipts in each time break-up of budget period.

Cash Accounting method Budgeted method Cash flow method None of the above
Answer Explanation

MCQs 13: At 50% capacity expenses are Rs 10,000, which increase by 10% between 60% and 80% level of activity and 20% thereafter. These are

Variable expenses Semi-variable expenses Both a and b None of the above
Answer Explanation

MCQs 14: If semi-variable cost at 60% level of production is Rs 40,000 and at 80% level is Rs 44,000. What will it be at 100% level of production?

Rs 40,000 Rs 42,000 Rs 44,000 Rs 48,000
Answer Explanation

MCQs 15: When process loss is not given, what should be calculated?

Material sub-usage variance Material yield variance Both a and b None of the above
Answer Explanation

MCQs 16: When actual output is different from standard output, determine

Standard cost of revised standard mix for standard output Actual yield for standard output Standard quantity for actual output None of the above
Answer Explanation

MCQs 17: In case only actual data and standard data are given without any indication of output

Standard quantity has to be calculated Standard quantity has not to be calculated Inadequate information None of the above
Answer Explanation

MCQs 18: Management auditor should be conversant with the nature of production activities in organization.

True False
Answer Explanation

MCQs 19: In cost centers manager have no revenue responsibilities.

True False
Answer Explanation

MCQs 20: On the basis of techniques of preparation, the managerial reports can be classified into

Operating reports and financial reports Trend reports and analytical reports Individual activity reports and joint activity reports Internal reports and external reports
Answer Explanation

MCQs 21: Management accountancy is a structure for

Costing Accounting Decision making Management
Answer Explanation

MCQs 22: Which of the following statements are true?

A) External analysis depends entirely on issued financial statements.
B) Interpretation and analysis both are different.
C) Financial analysis covers interpretation.

Both A and B Both A and C Both B and C A, B, C
Answer Explanation

MCQs 23: Which of the following are techniques, tools or methods of analysis and interpretation of financial statements?

Ratio Analysis Average Analysis Trend Analysis All of the above
Answer Explanation

MCQs 24: A risk free security has zero variance.

True False
Answer Explanation

MCQs 25: Return on any financial asset consists of capital yield and current yield.

True False
Answer Explanation

MCQs 26: Which of the following is expenses ratio?

A) Administrative expenses ratio
B) Selling and Distribution expenses ratio
C) Factory expenses ratio
D) Finance Expenses ratio

A, B and D A, C and D A, B and C A, B, C, D
Answer Explanation

MCQs 27: Overall Profitability ratios are based on

Investments Sales Both a and b None of the above
Answer Explanation

MCQs 28: Return on Proprietors funds is also known as:

Return on net worth Return on Shareholders fund Return on Shareholders Investment All of the above
Answer Explanation

MCQs 29: Given Net profit for the year Rs 2,50,000 transferred to general reserves Rs 40,000 and old machinery bought for Rs 50,000 was sold for Rs 20,000. Calculate funds from operations.

Rs 2,80,000 Rs 2,20,000 Rs 2,90,000 Rs 3,00,000
Answer Explanation

MCQs 30: Which of the following are sources of funds?

A) Issue of bonus shares
B) Issue of shares against the purchase of fixed assets
C) Conversion of debentures into shares
D) Conversion of loans into shares

A and C A and D A, B, C and D None of the above
Answer Explanation

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