This quiz works best with JavaScript enabled. Home > Accounting > Management Accounting > Management Accounting – Quiz 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 11 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Increase in amount of prepaid expense result in A) Increase in cash. B) Decrease in cash. C) No change in cash. D) None of above. Show Answer Correct Answer: B) Decrease in cash. 2. What is a W-4 used for? A) Shoot deer. B) Withhold 4 paychecks for employees. C) Employees to fill out number of withholdings for taxes. D) Employers to fill out on employees. Show Answer Correct Answer: C) Employees to fill out number of withholdings for taxes. 3. The scare factors is also known as A) Key factor. B) Abnormal factor. C) Linking factor. D) None of the above. Show Answer Correct Answer: A) Key factor. 4. The purpose of management accounting is to A) Help banks make decisions. B) Past orientation. C) Help investors make decision. D) Help managers make decisions. Show Answer Correct Answer: D) Help managers make decisions. 5. A report analyzing the changes in the financial condition of a business between two periods on the basis of working capital is called..... A) Comparative reports. B) Analysis of Ratios. C) Funds flow reports. D) Which is not. Show Answer Correct Answer: C) Funds flow reports. 6. Managerial accounting may be thought of as the reporting of past financial performance and financial accounting as the estimation of future financial outcomes. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 7. THE FOLLOWING IS INFORMATION TO BE BASED IN MANAGEMENT DECISION MAKING PRESENTED IN ENVIRONMENTAL MANAGEMENT ACCOUNTING, EXCEPT ..... A) INFORMATION BASED ON MATERIAL AND ENERGY FLOWS. B) INFORMATION BASED ON ENVIRONMENTAL COSTS. C) MEASURABLE INFORMATION. D) UNMEASURABLE INFORMATION. Show Answer Correct Answer: D) UNMEASURABLE INFORMATION. 8. What is NOT a benefit of having a good credit score? A) When you need a loan, you'll have more loan offers to pick from. B) You'll get better interest rates on your loans. C) It will be easier to get an apartment. D) You'll get accepted to better education institutions. Show Answer Correct Answer: D) You'll get accepted to better education institutions. 9. Liquid assets mean A) Current assets-stock-prepaid expenses. B) Only stock. C) Cash + marketable securities. D) All of the above. Show Answer Correct Answer: A) Current assets-stock-prepaid expenses. 10. Tera manufacturing expenses 50% capacity produces 10000 units for 80 % capacity what will be the units? A) 15000. B) 20000. C) 16000. D) 18000. Show Answer Correct Answer: C) 16000. 11. Who is responsible to ensure that financial statements are free from material misstatements A) External Auditors. B) Independent Directors. C) Board of Directors. D) Stakeholders. Show Answer Correct Answer: A) External Auditors. 12. The formula for Margin of Safety is? A) Profit/PV Ratio. B) Fixed Cost/PV Ratio. C) BEP/PV Ratio. D) None of the above. Show Answer Correct Answer: A) Profit/PV Ratio. 13. Financial Institution A) Internal Users. B) External Users. Show Answer Correct Answer: B) External Users. 14. The statements are produced for shareholders A) Financial Accounting. B) Management Accounting. Show Answer Correct Answer: A) Financial Accounting. 15. The salary paid to the president of a company would be classified on the income statement as a(n): A) Administrative expense. B) Direct labor cost. C) Manufacturing overhead cost. D) Selling expense. Show Answer Correct Answer: A) Administrative expense. 16. Available Machine Hours are 2000 hours. Product A, B and C gives contribution of Rs.2, 6 and 4 per MH respectively. Rank them in preference of production. A) B, C, A. B) A, C, B. C) B, A, C. D) C, A, B. Show Answer Correct Answer: A) B, C, A. 17. This method of budgeting can ignore previous budgets and it looks at the main aims of the businesses and focuses on those. This is A) Incremental Budgeting. B) Activity Based Budgeting. C) Zero Based Budgeting. D) Priority Based Budgeting. Show Answer Correct Answer: D) Priority Based Budgeting. 18. Plant utilization budget and Manufacturing overhead budgets are types of A) Production budget. B) Sales budget. C) Cost budget. D) None of the above. Show Answer Correct Answer: C) Cost budget. 19. Which of the following is not the tool of Management accounting? A) Human Resources accounting. B) Budgetary Control. C) Standard Costing. D) Decision accounting. Show Answer Correct Answer: A) Human Resources accounting. 20. Management accounting is mostly applied in which of the following organizations: A) Organization with revenue potential. B) Feature governance bodies. C) Humanitarian deployment organizations. D) All of the above implementing organizations. Show Answer Correct Answer: A) Organization with revenue potential. ← PreviousNext →Related QuizzesAccounting QuizzesManagement Accounting Quiz 1Management Accounting Quiz 2Management Accounting Quiz 3Management Accounting Quiz 4Management Accounting Quiz 5Management Accounting Quiz 6Management Accounting Quiz 7Management Accounting Quiz 8Management Accounting Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books