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Management Accounting Quiz 23 (30 MCQs)

Quiz Instructions

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1. Liability accounts increase with a
2. Which of the following is NOT an example of revenue Income
3. The transfering of work from a specific area of the company ( e.g. accounting, manufacturing) to an outside supplier, which can be done to a company that is located in the home country or anywhere else is called .....
4. This is concerned with 'the provision of information to assist management with planning, decision-making and control.'
5. If income is ₹ .16, 000 and 'deficit' debited to capital fund is ₹ .4, 300, then expenditure is .....
6. When machine-hours are used as an overhead cost-allocation base and annual leasing costs for equipment unexpectedly increase, the most likely result would be to report a(n):
7. How many people does your company ..... ?
8. What is the first level of pricing decision making?
9. Which of the following is never included in product cost?
10. Generally Accepted Accounting Principles (GAAP) require the use of which accounting method for external reporting?
11. Variable costing is
12. ..... requires the management to look a head and establish objectives. A key objective of management is to add value to the business.
13. Telephone costs for the office forms part of the factory overheads?
14. What is the second level of pricing decision making?
15. The total cost tend to change as to level of activity changes
16. Emigh Corporation's cost of goods manufactured for the just completed month was $ 146, 000 and its overhead was overapplied by $ 5, 000. The beginning finished goods inventory was $ 35, 000 and the ending finished goods inventory was $ 37, 000. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. How much was the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?
17. ..... collects, analyses, and understands the financial, qualitative, and statistical information to help the management make effective decisions about the business.
18. Piekos Corporation incurred $ 90, 000 of actual Manufacturing Overhead costs during June. During the same period, the Manufacturing Overhead applied to Work in Process was $ 92, 000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
19. Does the following transaction result in Change in Working Capital as per Funds flow statement?" Income Tax paid"
20. Liquid ratio is also known asA. Quick ratioB. Acid test ratioC. Working capital ratioD. Stock turnover ratio
21. Person's reputation for paying bills on time.
22. Corporate governance is ..... mechanism
23. Which of the following would be an example of a direct materials cost?
24. R&D budget and Capital expenditure budget are examples of
25. Revenue is the positive difference between a firm's revenues and its costs.
26. The analysis and interpretations of financial statement will reveal
27. Corporate governance does not have any impact on the share price.
28. Which of the following is an example of a service?
29. WHAT IS THE DEFINITION OF THE ENVIRONMENT ACCORDING TO LAW NO. 23 YEAR 1997?
30. An individual or organisation to whom money or service is owed by the company.
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