This quiz works best with JavaScript enabled. Home > Accounting > Management Accounting > Management Accounting – Quiz 61 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 61 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Management accounting deals with managing ..... A) Decision making. B) Raising finance. C) Tax returns. D) Final accounts preparation . Show Answer Correct Answer: A) Decision making. 2. A business bought a new computer system for office use. Which of the following is treated as revenue expenditure? A) Computer speaker. B) Computer software. C) Laser printer cartridge refill. D) Laser printer. Show Answer Correct Answer: C) Laser printer cartridge refill. 3. Profit maximisation is A) It is indicator of economic efficiency. B) Primary objective of business. C) Measurement of Success of business decisions. D) All of the above. Show Answer Correct Answer: D) All of the above. 4. 1) Which of the following is correct? A) Owner's Equity = Liabilities + Assets. B) Liabilities = Assets + Owner's Equity. C) Assets = Liabilities + Owner's Equity. D) Assets = Owner's Equity. Show Answer Correct Answer: C) Assets = Liabilities + Owner's Equity. 5. The concept of management accounting was coined by A) R.N.Anthony. B) J.Batty. C) James H.Bliss. D) American Accounting Association. Show Answer Correct Answer: C) James H.Bliss. 6. Current ratio is 2:1 and working capital is Rs. 5000, then current asset is A) Rs. 5000. B) Rs. 10000. C) Rs 1000. D) Rs 20000. Show Answer Correct Answer: B) Rs. 10000. 7. Which of the following can be treated as either current liability or non-current liability depending on the adjustments? A) Provision for taxation. B) General reserve. C) Goodwill. D) None of the above. Show Answer Correct Answer: A) Provision for taxation. 8. Given the cost formula Y = $ 23, 000 + $ 8X, total cost at an activity level of 7, 000 units would be: A) $ 33, 000. B) $ 79, 000. C) $ 23, 000. D) $ 56, 000. Show Answer Correct Answer: B) $ 79, 000. 9. Debit is on the left and credit is on the right for ALL t accounts. A) True. B) False. Show Answer Correct Answer: A) True. 10. Throughput revolves around A) Resources. B) Operating expenses. C) Bottleneck resources. D) KPI. Show Answer Correct Answer: C) Bottleneck resources. 11. There are the function of Management Accounting, except ..... A) As an Audit Access. B) Coordination of Various Company Activities. C) Data sources for the accountability of each level of management. D) Information Systems for External Parties. Show Answer Correct Answer: A) As an Audit Access. 12. Cost unit of a sugar industry can be A) Per liter. B) Per ton. C) Per acre. D) Per meter. Show Answer Correct Answer: B) Per ton. 13. EOQ expands to mean A) Equal opportunity production. B) Economic order quantity. C) Equal order quantity. D) Economic order quality. Show Answer Correct Answer: B) Economic order quantity. 14. Which of the following costs is not relevant when considering the closure of a department within a factory? A) Direct Labour Cost. B) Direct Material Cost. C) Variable Overheads. D) Fixed Overheads. Show Answer Correct Answer: D) Fixed Overheads. 15. Looks mainly at historical information A) Financial Accounting. B) Management Accounting. Show Answer Correct Answer: A) Financial Accounting. 16. Security and Exchange Commission A) Internal User. B) External User. Show Answer Correct Answer: B) External User. 17. Cost accounting aims at A) Cost control and reduction. B) Finding profit or loss. C) Ascertaining financial position. D) Making plans and decisions. Show Answer Correct Answer: A) Cost control and reduction. 18. The accounting which gives segregated information about the various products of Dabur is A) Financial Accounting. B) Money Accounting. C) Cost Accounting. D) Management Accounting. Show Answer Correct Answer: D) Management Accounting. 19. If the desired profit is Rs.250000 and the fixed cost is Rs.1, 80, 000, how many units should be made to attain the required profit? The Contribution received from each unit is Rs.25 and selling price per unit is Rs.40. A) 17200 units. B) 10750 units. C) 28667 units. D) 15000 units. Show Answer Correct Answer: A) 17200 units. 20. Expenses DECREASE owners equity. A) True. B) False. Show Answer Correct Answer: A) True. ← 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