This quiz works best with JavaScript enabled. Home > Accounting > Management Accounting > Management Accounting – Quiz 25 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 25 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is NOT in CIMA code of Ethics A) Integrity. B) Confidentiality. C) Loyalty. D) Objectivity. Show Answer Correct Answer: C) Loyalty. 2. A one-time-only special order decision A) Has no role in segregating special and regular customers. B) Must involve unused plant capacity to avoid lost profits on regularly priced items. C) Allows a company to sell products at prices that only cover fixed costs. D) Involves selling products at a percentage over retail price due to the short time period involved. Show Answer Correct Answer: B) Must involve unused plant capacity to avoid lost profits on regularly priced items. 3. Choose the following terms that is NOT fixed assets. A) Vehicles. B) Leasehold. C) Debtors. D) Office equipment. Show Answer Correct Answer: C) Debtors. 4. Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 79, 000 machine-hours. The estimated variable manufacturing overhead was $ 7.38 per machine-hour and the estimated total fixed manufacturing overhead was $ 2, 347, 090. The predetermined overhead rate for the recently completed year was closest to: A) $ 37.09 per machine-hour. B) $ 36.07 per machine-hour. C) $ 7.38 per machine-hour. D) $ 29.71 per machine-hour. Show Answer Correct Answer: A) $ 37.09 per machine-hour. 5. Poor adoptation with Management Accounting Information System (MAIS) is lead to ..... A) Profit minimization. B) Inaccurate forecasting. C) Poor inventory management. D) All of the above. Show Answer Correct Answer: D) All of the above. 6. Which of the following does NOT appear in the Trading Account. A) Closing Stock. B) Manager's Salary. C) Wages. D) Purchase Returns. Show Answer Correct Answer: B) Manager's Salary. 7. The sum of actual cost and the standard cost is known as variance analysis. A) True. B) False. Show Answer Correct Answer: B) False. 8. Financial Accounting is ..... for Management Accounting A) Output. B) Outcome. C) Input. D) None of the Above. Show Answer Correct Answer: C) Input. 9. Which of the following statements are false? A) Cash Flow Statement is helpful in the formation of policies. B) Cash Flow Statement is useful for external analysis C) Cash Flow Statement is helpful in estimating future cash flow A) Both A and B. B) Both A and C. C) Both B and C. D) None of the above. Show Answer Correct Answer: D) None of the above. 10. Management accounting helps the management in ..... the performance of the business A) Controlling. B) Planning. C) Time saving. D) Decision making. Show Answer Correct Answer: A) Controlling. 11. The treasurer's major duties include:providing operating capital for long-term financing; maintaining shareholder relations; short-term financing. A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. 12. ..... play a key role in management accounting A) Investors. B) Managers. C) Customers. D) Suppliers. Show Answer Correct Answer: B) Managers. 13. Absorption of overheads may be done on the following basis: A) Data from previous or historical. B) Anticipated volume or unit produced. C) Classification of major activities and pooling their costs. D) Normal volume of output or capacity. Show Answer Correct Answer: C) Classification of major activities and pooling their costs. 14. Government A) Internal users. B) External users. Show Answer Correct Answer: B) External users. 15. Which of the following statements concerning Big Data analytics is correct? A) Big Data analytics relies on digital information. B) Big Data analytics relies on written information. C) Big Data analytics relies on verbal information. D) Big Data analytics relies on confidential information. Show Answer Correct Answer: A) Big Data analytics relies on digital information. 16. Content can include anything useful A) Financial Accounting. B) Management Accounting. Show Answer Correct Answer: B) Management Accounting. 17. The ethical standards established for management accountants are in the areas of A) Competence, licensing, reporting, and education. B) Budgeting, cost allocation, product costing, and insider trading. C) Competence, confidentiality, integrity, and objectivity. D) Disclosure, communication, decision making, and planning. Show Answer Correct Answer: C) Competence, confidentiality, integrity, and objectivity. 18. Follows applicable laws, regulations, and standards is the characteristics of ..... Based on IMA code of ethics. A) Integrity. B) Competence. C) Confidentiality. D) Objectivity. Show Answer Correct Answer: B) Competence. 19. Given sales is 1, 20, 000 and gross profit is 30, 000 the gross profit ratio is A) 24%. B) 25%. C) 40%. D) 44%. Show Answer Correct Answer: B) 25%. 20. In an organization, profit after interest, tax, and dividend on preference shares is ₹ 4, 00, 000. The number of equity shares is 40, 000 and the dividend payout ratio is 40%. The dividend per share is A) 4. B) 8. C) 5. D) 7. Show Answer Correct Answer: A) 4. ← 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