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Management Accounting Quiz 17 (30 MCQs)

Quiz Instructions

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1. The ethical standards established for management accountants are in the areas of
2. Follows applicable laws, regulations, and standards is the characteristics of ..... Based on IMA code of ethics.
3. Given sales is 1, 20, 000 and gross profit is 30, 000 the gross profit ratio is
4. 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
5. It is used to fix the selling price, selection of best sales mix, best use of scarce raw materials or resources, to take make or buy decision, acceptance or rejection of bulk order and foreign order and the like.
6. A company manufactures a single product with a variable cost per unit of Rs. 110. The P/V Ratio is 45%. Monthly fixed costs are Rs. 9, 90, 000. What is the break-even point in units
7. Qualitative information does not help in taking better quality decisions.
8. Legacies should be treated as .....
9. Semi-variable costs contain both a fixed element and a variable element
10. Ahmad has an idea for a new business. He wants to start the business as soon as possible with the minimum amount of expenses. He also wants to be the boss and keeps all of the expected profits earn for him.Identify the type of business ownership that Ahmad would prefer to set up
11. The Accounting Equation is:
12. Ensure thats the subordinates do not disclose confidential information is the characteristics of ..... Based on IMA code of ethics.
13. All of the following statements are correct, except for?
14. The statements are produced monthly
15. The chief accountant of an organization with responsibility for financial planing and analysis, cost control and financial reporting is the explanation of .....
16. ..... is the process of collecting, recording, classifying and summarising financial data
17. Place the following steps from the five-step decision process in order:A = Make predictions about future costs B = Evaluate performance to provide feedback C = Implement the decision D = Choose an alternative
18. Which of the following statements are true about labour idle time?
19. What is not included in the budget benefits is
20. A company has a creditors turnover ratio of 4 times per year. What is the average payment period of the company?
21. Bad debts in cost accounting will come under
22. ..... is an indicator of a company's short-term liquidity position and measures a company's ability to meet its short-term obligations with its most liquid assets.
23. Which is a capital receipt for the owner of the bicycle shop?
24. The following would appear in which section of the cash flow statement? Cash payment made to bank to pay down principal on long-term loan
25. Target for launching Fuel Information Presentation Automation:
26. Below statements are correct for ABC except
27. The liquid ratio should be around
28. What does Environmental Management Accounting (EMA) primarily focus on?
29. Given the budgeted output in second quarter is 8, 000 units. In the first quarter, Fixed overheads were Rs 40, 000 Variable overheads were Rs 5 per unit ( Rs 40, 000) and semi variable were 20, 000 ( 60% varying @ Rs 3 per unit). Determine the total manufacturing overhead budget for the second quarter.a. b. c. d.
30. What is one of the most important decisions made by management?
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