This quiz works best with JavaScript enabled. Home > Accounting > Management Accounting > Management Accounting – Quiz 52 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 52 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The following expense is an example of a variable cost A) Rent. B) Materials. C) Depreciation. D) None of above. Show Answer Correct Answer: B) Materials. 2. Determine P/V ratio if sales per unit is Rs. 10 and variable cost per unit is Rs.7 A) 25%. B) 50%. C) 45%. D) 30%. Show Answer Correct Answer: D) 30%. 3. The statements below is the resolution of ethical conflict based on IMA code ethic of management accountants, EXCEPT ..... A) Follow established policies. B) Clarify issues in a confidental discussion with an objective advisor. C) Consult a Doctor to legal obligations. D) The last resort is to resign. Show Answer Correct Answer: C) Consult a Doctor to legal obligations. 4. A report that measures financial and nonfinancial performance measures for various organization units in a single report is called a(n): A) Balanced scorecard. B) Financial report scorecard. C) Goal-congruence report. D) Investment success report. Show Answer Correct Answer: A) Balanced scorecard. 5. Strategic Decisions are taken by A) Top Level Management. B) Middle Level Management. C) Lower Level Management. D) All the Above. Show Answer Correct Answer: A) Top Level Management. 6. Financial Budget, namely A) Cash Budget and Capital Budget. B) Budget Balance Sheet. C) Budget Statement of Cah Inflow. D) Budget Statement of Cash Flow. Show Answer Correct Answer: C) Budget Statement of Cah Inflow. 7. Standard costs are determined on ..... A) Zero base. B) The basis of trade cycle. C) Scientific basis. D) None of these. Show Answer Correct Answer: A) Zero base. 8. If the gross margin is $ 2000 and the revenue is $ 5000, then the cost of goods sold would be A) $ 8, 000. B) $ 3, 000. C) $ 2, 000. D) $ 4, 000. Show Answer Correct Answer: B) $ 3, 000. 9. What is the main purpose of the Statement of Financial Position (SOFP)? A) All of the above. B) To assess liquidity and capital employed. C) To show how the business is financed and how funds are deployed. D) To provide a basis for assessing the value of the business. Show Answer Correct Answer: A) All of the above. 10. The rental expenses for a factory operating at 50% capacity is Rs. 1, 00, 000, what shall be the rent if it operates at 75% capacity A) Rs. 75, 000. B) Rs. 1, 00, 000. C) Rs. 1, 50, 000. D) Rs. 50, 000. Show Answer Correct Answer: B) Rs. 1, 00, 000. 11. ABC Ltd has quoted that its total cost for producing 30000 units is Rs. 4, 50, 000 and the total cost for producing 20, 000 units is Rs. 3, 50, 000. The fixed cost for ABC Ltd is A) 1, 00, 000. B) 1, 50, 000. C) 10, 000. D) 10. Show Answer Correct Answer: B) 1, 50, 000. 12. The break even point occurs when the Total Revenue is equal to the Marginal Cost A) True. B) False. Show Answer Correct Answer: B) False. 13. What document is a summary of the money a company brought in (revenue) and what it paid out (expenses)? A) Income Statement. B) Tax Statement. C) Revenue Statement. D) Profit Statement. Show Answer Correct Answer: A) Income Statement. 14. Which statement is prepared in the process of funds flow analysis? A) Schedule of changes in working capital. B) Funds Flow Statement. C) Both a and b. D) None of the above. Show Answer Correct Answer: A) Schedule of changes in working capital. 15. Government statistics can be a useful source of data and information. Which of the following types of data is most likely to be obtained from government statistics? A) Foreign exchange rates. B) Population data. C) Details of industry costs. D) Interest rates. Show Answer Correct Answer: B) Population data. 16. Refrain the activity that could discredit the profession is the characteristics of ..... Based on IMA code of ethics. A) Integrity. B) Objectivity. C) Confidentiality. D) Competence. Show Answer Correct Answer: A) Integrity. 17. Which of the following items is not included in cost accounts A) Interest received on Bank deposits. B) Divided paid on share capital. C) Damage playable at law. D) All of these. Show Answer Correct Answer: D) All of these. 18. What will happen to your credit score if you do not manage your debt wisely? A) You won't be able to track your credit score. B) Your credit score will go up. C) Your credit score will go down. D) It will not affect your credit score. Show Answer Correct Answer: C) Your credit score will go down. 19. If Fixed cost is zero, operating leverage A) 1. B) -1. C) 0. D) None of these. Show Answer Correct Answer: A) 1. 20. The conceot of timeliness of data availability is most relevant to A) Manual systems. B) Payroll systems. C) Online systems. D) Inventory systems. Show Answer Correct Answer: C) Online systems. ← 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