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- Management Accounting Test Questions - Set 12
MCQs 1: In indirect method, net cash flow from operating activities is calculated on the basis of
MCQs 2: Which of the following are added to net profit after tax and extraordinary items to reach to net profit before tax and extraordinary items?
A) Provision for tax made during the year
B) Proposed dividend made during the year
C) Interim dividend
D) Transfer to General reserves and other reserves
MCQs 3: Which of the following are cash flow from investing activities?
A) Interest received
B) Dividend received
C) Sale of fixed assets
D) Purchase of fixed assets
MCQs 4: When contribution is negative but less than fixed cost,
There is loss equal to fixed costs
There is loss more than fixed costs
There will be loss less than fixed costs
All of above are false
MCQs 5: When contribution is positive but equal to fixed cost,
There is loss equal to fixed costs
There is loss more than fixed costs
There will be loss less than fixed costs
There will be neither profit nor loss
MCQs 6: Opportunities to achieve further growth within current businesses are:
MCQs 7: If desired profit is decided, then normal price should be
MCQs 8: In a purely competitive market, 10,000 mobiles can be manufactured and sold for a certain profit. Profit targeted is Rs 2,00,000. The variable cost per mobile is Rs 100 and the total fixed costs are Rs 40,000. Find out unit selling price.
MCQs 9: If there is no change in fixed cost at different levels of output,
Marginal costs > Differential cost
Marginal costs < Differential cost
Marginal cost and Differential cost are same
None of the above
MCQs 10: Determine Margin of safety if Profit is Rs 15,000 and P/V ratio is 40%.
MCQs 11: What is Margin of Safety if Sales is 20,000 units and B.E.P is 15,000 units.
MCQs 12: Calculate margin of safety if sales is Rs 3,00,000 and B.E.P is Rs 4,50,000.
MCQs 13: Determine sales in rupees for desired profit if fixed cost is Rs 10,000, Variable cost is Rs 30,000, Sales is Rs 50,000 and desired profit is Rs 5,000.
MCQs 14: What will be sales in rupees for desired profit if fixed cost is Rs 30,000, desired profit is Rs 15,000 and P/V ratio is 30%?
MCQs 15: Which of the following statements are true about basic standards?
Basic standards are created for an unaltered use of for a long period of time
Basic standards are set in relation to certain base year
Basic standards are used in industries where routines and operations are well established
All of the above
MCQs 16: Basic standard is established for
MCQs 17: __________ is based on past averages adjusted to anticipated future changes.
MCQs 18: Plant utilization budget and Manufacturing overhead budgets are types of
MCQs 19: _______ provides an estimate of the capital amount that may be required for buying fixed assets needed for meeting production requirements.
MCQs 20: While preparing sales budget, which of the following factors are considered?
MCQs 21: While preparing cash budget from Cash Accounting method,
Payments and receipts related to budget period are considered
Payments and receipts before budget period are considered
Payments and receipts after budget period are considered
All of the above
MCQs 22: The receipts or payments having time lag are not included in cash budget.
MCQs 23: If indirect material at 80% capacity (800 units) is Rs 248, of which variable component is Rs 0.06 per unit, then the amount of indirect material at 100% capacity would be
MCQs 24: Production at 60% capacity 600 units, Materials cost Rs 100 per unit, Labour at Rs 40 per unit and expenses at Rs 10 per unit. Factory expenses are Rs 40,000 (Fixed 40%) and Administration expenses Rs 30,000 (Fixed 60%). What is cost per unit at 60% and 80% capacity?
MCQs 25: Material price, mix, usage and revised quantity variances are measured on _______ basis, whereas material yield variance is measured on _______ basis.
MCQs 26: The data related to Production of T are for material X standard data and actual data are 40 kgs @ Rs 10 and 55 kgs @ Rs 9, respectively. The standard data and actual data for material Y are 50 kgs @ Rs 5 and 35 kgs @ Rs 7. Determine material usage variance.
MCQs 27: Labour cost variance is measured as
Total standard labour cost of actual output - Total actual cost of actual output
(Standard rate per hour - Actual rate per hour) * Actual Hours
(Standard time - Actual time) * Standard rate per hour
Abnormal idle hours * Standard hourly rate
MCQs 28: A management auditor can recommend the most suitable system of flow of information _______.
MCQs 29: Contribution margin center is also known as
MCQs 30: On the basis of users the managerial reports are categorized as
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