This quiz works best with JavaScript enabled. Home > Accounting > Management Accounting > Management Accounting – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 18 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The total of all direct costs A) Indirect cost. B) Prime cost. C) Total cost. D) Cost unit. Show Answer Correct Answer: B) Prime cost. 2. ..... helps to classify, analyze, summarize, and record financial transactions of the company. A) Financial accounting. B) Cost accounting. C) Management accounting. D) None of above. Show Answer Correct Answer: A) Financial accounting. 3. The person most likely to use management accounting information is a(n) A) Banker evaluating a credit application. B) Shareholder evaluating a stock investment. C) Governmental taxing authority. D) Assembly department supervisor. Show Answer Correct Answer: D) Assembly department supervisor. 4. Calculate value of closing stock from the following:Opening stock of finished goods (500 units):Rs. 2, 000 Cost of production (10000 units):Rs. 50, 000 Closing stock (1000 units):? A) Rs. 4, 000. B) Rs. 4, 500. C) Rs. 5, 000. D) Rs. 6, 000. Show Answer Correct Answer: C) Rs. 5, 000. 5. Which is the determinants of Capital Structure? A) Government Policy. B) Control. C) Tax. D) Requirement of Investors. Show Answer Correct Answer: A) Government Policy. 6. Budgetary Control helps in implementation of A) Standard Costing. B) Marginal Costing. C) Ratio Analysis. D) Technical Analysis. Show Answer Correct Answer: A) Standard Costing. 7. If the balance sheet of Maruthi Ltd is analysing by sunil a prospective investor to invest in shares of maruthi is ..... analysis A) Horizontal. B) Vertical. C) External. D) Internal. Show Answer Correct Answer: C) External. 8. Sales A) Revenue. B) Expense. C) Liability. D) None of above. Show Answer Correct Answer: A) Revenue. 9. Interest and dividend received in cash flow from ..... Activities A) Financing. B) Operating. C) Investing. D) Non Financing. Show Answer Correct Answer: C) Investing. 10. Imputed cost is also know as ..... A) Sunk Cost. B) Notional Cost. C) Opportunity Cost. D) Marginal Cost. Show Answer Correct Answer: B) Notional Cost. 11. Controlling is the process of ensuring that management plan is successfully implemented. A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. 12. Which is Fixed Cost? A) Changes in proportion to changes in volume or activity (no change per unit). B) Changes per unit (no changes in proportion to changes in volume or activity). C) Both. D) None. Show Answer Correct Answer: B) Changes per unit (no changes in proportion to changes in volume or activity). 13. Budget is A) Creation of an activity plan expressed in monetary and non-monetary measures. B) Creation of an activity plan expressed in financial terms. C) Creation of an activity plan expressed in unit size. D) Creation of an activity plan expressed in non-financial measures. Show Answer Correct Answer: A) Creation of an activity plan expressed in monetary and non-monetary measures. 14. Which of the following financial institutions typically have the highest fees? A) Check cashing and payday loan companies. B) Credit unions. C) Brick-and-mortar banks. D) Internet banks. Show Answer Correct Answer: A) Check cashing and payday loan companies. 15. If Liabilities are $ 15, 425 and Assets are $ 32, 350, how much is Capital? A) $ 16, 925. B) $ 15, 425. C) $ 47, 775. D) None of above. Show Answer Correct Answer: A) $ 16, 925. 16. The sources of finance can be broadly classified into two categories-Debt and ..... A) Loans. B) Sale of old assets. C) Investments. D) Equity. Show Answer Correct Answer: D) Equity. 17. Working capital ratio is also known as: A) Quick ratio. B) Debt-Equity ratio. C) Current ratio. D) Liquid account. Show Answer Correct Answer: C) Current ratio. 18. Which one of the following statements is not true in relation to incomplete records? A) It is an unscientific method of recording transactions. B) Records are maintained only for cash and personal accounts. C) It is suitable for all types of organisations. D) Tax authorities do not accept. Show Answer Correct Answer: C) It is suitable for all types of organisations. 19. Wyeco Ltd makes one product, which he sells at £55 per unit with the following costs:Variable direct materials £18 per unit Variable direct labour £12 per unit, Fixed overheads £180, 000 per year.What is the Break Even Point units? A) 6, 000 Units. B) 10, 000 Units. C) 7, 200 Units. D) 3, 273 Units. Show Answer Correct Answer: C) 7, 200 Units. 20. The difference between actual sales and break even sales is A) Contribution. B) Profit volume Ratio. C) Margin of Safety. D) Gross margin. Show Answer Correct Answer: C) Margin of Safety. ← 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