This quiz works best with JavaScript enabled. Home > Accounting > Management Accounting > Management Accounting – Quiz 30 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 30 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Patents and copyright is an ..... A) Intangible fixed asset. B) Tangible fixed asset. C) Current asset. D) Investments. Show Answer Correct Answer: A) Intangible fixed asset. 2. Year 2009 Sales =120000 profit = 8000year 2010 sales = 140000 Profit = 130000 Find BEP, MOS of 2010 A) 35%50000. B) 25%52000. C) 30%36000. D) None of above. Show Answer Correct Answer: B) 25%52000. 3. The wages lost when you give up your job to attend school full-time is an example of a(n): A) Direct cost. B) Fixed costs. C) Sunk cost. D) Opportunity cost. Show Answer Correct Answer: D) Opportunity cost. 4. Fresh Food Market had an increase in net sales of 18.9%. The advertising expense increased by 9.3%. Which statement is correct about the change in the advertising expense? A) This is a favorable change because the percentage increase in net sales was greater than the percentage increase in the advertising expense. B) This is a favorable change because the difference in the increase in net sales and the increase in the advertising expense was less than 10.0%. C) This is a normal change because net sales increased, and the advertising expense increased. D) This is a normal change because the advertising expense increased. Show Answer Correct Answer: A) This is a favorable change because the percentage increase in net sales was greater than the percentage increase in the advertising expense. 5. Which of the following formula cannot be used for calculating the contribution A) Fixed cost plus profit. B) Fixed cost minus loss. C) Sales minus variable cost. D) Fixed cost plus loss. Show Answer Correct Answer: D) Fixed cost plus loss. 6. Limited liability companies must, by law, prepare ..... A) Financial Acounting. B) Management Accounting. Show Answer Correct Answer: A) Financial Acounting. 7. Management accounting and financial accounting are similar in that: A) Let's use the starting information of accounting. B) Together distribute information about the economic and financial situation of the business. C) Expressing the obligations and responsibilities of all levels of corporate governance. D) These statements are correct. Show Answer Correct Answer: D) These statements are correct. 8. A budget is/does NOT A) A primary method of communication. B) Promotes efficiency. C) A means to always a profitable company. D) Control device. Show Answer Correct Answer: C) A means to always a profitable company. 9. Comparative Position statement analysis is a ..... A) Short term analysis. B) Internal Analysis. C) Horizontal analysis. D) Vertical analysis. Show Answer Correct Answer: C) Horizontal analysis. 10. Identify the right activities involved in Cash Flow Statement.i. Financing Activitiesii. Operating Activitiesiii. Cash Balance Activitiesiv. Investing Activities A) I, ii and iii. B) I, ii and iv. C) Ii, iii and iv. D) I, iii and iv. Show Answer Correct Answer: B) I, ii and iv. 11. The ideal level of liquid ratio is A) 3:3. B) 1:1. C) 2:2. D) All of the above. Show Answer Correct Answer: D) All of the above. 12. Patient nights is the cost unit to ascertain cost of ..... A) Hotel. B) Hospital. C) Home-stay. D) Taxi. Show Answer Correct Answer: B) Hospital. 13. Dividend received is shown in ..... A) Investing activity. B) Financial activity. C) Operating activity. D) None of above. Show Answer Correct Answer: A) Investing activity. 14. Management Accounting helps in A) Planning. B) Organising. C) Decision making. D) All of the above. Show Answer Correct Answer: D) All of the above. 15. In which year was the term management accounting first used? A) 1910. B) 1939. C) 1950. D) 1926. Show Answer Correct Answer: C) 1950. 16. The person who is supervising the labourers involved in production will be A) Direct Labour. B) Direct Expenses. C) Indirect Labour. D) None of the above. Show Answer Correct Answer: C) Indirect Labour. 17. The flexible-budget variance for direct cost inputs can be further subdivided into a: A) Static-budget variance and a sales-volume variance. B) Sales-volume variance and an efficiency variance. C) Price variance and an efficiency variance. D) Static-budget variance and a price variance. Show Answer Correct Answer: C) Price variance and an efficiency variance. 18. Step Variable Costs A) ESB Bill, Telephone. B) Rent. C) Raw materials. D) None of above. Show Answer Correct Answer: C) Raw materials. 19. If you have a bank account and receive a statement that tells you that you had NSF because you went to Walmart and bought something with debit card for $ 14.63 and had $ 8.50 in your account, what does this mean and what happens? A) No Such Fee; the transaction would go through and you would have to pay the difference. B) Non-Sufficient Funds; the transaction would go through and you would owe the bank the difference plus an overdraft fee. C) Non-Sufficient Funds; the transaction would not go through and the bank would alert you. D) National Service Fee; the transaction would go through and you would owe the bank a $ 25 fee for going over your limit. Show Answer Correct Answer: B) Non-Sufficient Funds; the transaction would go through and you would owe the bank the difference plus an overdraft fee. 20. A trader had the following transactions. Credit sales $ 50 000, cash receipt of $ 10 000 from the sale of the old motor vehicle at book value. How would these transactions be classified in the trader's books? A) Capital Receipt $ 60000. B) Revenue Receipt $ 60000. C) Revenue Receipt $ 50000, Capital Receipt $ 10000. D) Revenue Receipt $ 10000, Capital Receipt $ 50000. Show Answer Correct Answer: C) Revenue Receipt $ 50000, Capital Receipt $ 10000. ← 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