This quiz works best with JavaScript enabled. Home > Finance > Accounting > Management Accounting > Management Accounting – Quiz 39 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 39 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Liquid assets is determined by A) Current assets-stock-Prepaid expenses. B) Current assets + stock + prepaid expenses. C) Current assets + Prepaid expenses. D) None of the above. Show Answer Correct Answer: A) Current assets-stock-Prepaid expenses. 2. Management accounting is accounting in relation to statutory audit function. A) True. B) False. C) May be. D) None. Show Answer Correct Answer: B) False. 3. It deals with determining the total costs involved in the production of a good or service. A) ProductCosting and Valuation. B) Cash FlowAnalysis. C) InventoryTurnover Analysis. D) ConstraintAnalysis. Show Answer Correct Answer: A) ProductCosting and Valuation. 4. Variable overhead costs include: A) Depreciation on plant equipment. B) Machine maintenance. C) Plant-leasing costs. D) The plant manager's salary. Show Answer Correct Answer: B) Machine maintenance. 5. A company has completed and transferred out 10, 000 units during a period and had 5, 000 units in the ending work in process that were 50% complete. What is the total equivalent units for conversion costs? A) 12, 500. B) 15, 000. C) 17, 500. D) 7, 500. Show Answer Correct Answer: A) 12, 500. 6. Hong Kong Telecom has been a ....., thanks to a huge number of international calls. A) Petty cash. B) Hard cash. C) Cash on delivery. D) Cash cow. Show Answer Correct Answer: D) Cash cow. 7. The owner withdraws cash for personal use A) Assets (D). B) Liabilities (D). C) Equity (NE). D) None of above. Show Answer Correct Answer: A) Assets (D). 8. The management accounting can be stated an extension of A) Cost Accounting. B) Financial Accounting. C) Responsibility Accounting. D) Both A and B. E) A, B, C. Show Answer Correct Answer: E) A, B, C. 9. Budget prepared for one level of activity is A) Fixed budget. B) Activity budget. C) Flexible budget. D) Master budget. Show Answer Correct Answer: A) Fixed budget. 10. What happens if the price of a product is too low? A) High quantity of sales but low profitability. B) Low quantity of sales but high profitability. C) High quantity of sales and high profitability. D) Low quantity of sales and low profitability. Show Answer Correct Answer: A) High quantity of sales but low profitability. 11. In activity based costing, a cost driver is: A) An overhead cost. B) A variable cost. C) A resource consuming activity that causes overheads. D) A direct product cost. Show Answer Correct Answer: C) A resource consuming activity that causes overheads. 12. Do not subvert organization's legitimate objectives is the characteristics of ..... Based on IMA code of ethics. A) Objectivity. B) Integrity. C) Competence. D) Confidentiality. Show Answer Correct Answer: B) Integrity. 13. It is predetermined cost A) Standard Costing. B) Marginal Costing. C) Cost Accounting. D) Fund Flow Analysis. Show Answer Correct Answer: A) Standard Costing. 14. What is standard cost? A) The average unit cost of product produced in the current period. B) The average unit cost of product produced by other companies. C) The budgeted unit cost of product produced in a particular period. D) The average unit cost of product produced in the previous period. Show Answer Correct Answer: C) The budgeted unit cost of product produced in a particular period. 15. Budgets can play both planning and control roles for management. A) False. B) True. Show Answer Correct Answer: B) True. 16. HOW COMPANY DO ACTIONS TO PREVENT THE EMISSION LEAK TO ENVIRONMENT? A) Use processes, practices, techniques, materials, products, services or energy to eliminates the generation of emissions or discharges of any pollutant or waste. B) Use processes, practices, techniques, materials, products, services or energy to paid the loss coz of pollution. C) Use processes, practices, techniques, materials, products, services or energy to avoid, reduce or control the generation of emissions or discharges of any pollutant or waste. D) Use third party to avoid, reduce or control the generation of emissions or discharges of any pollutant or waste. Show Answer Correct Answer: C) Use processes, practices, techniques, materials, products, services or energy to avoid, reduce or control the generation of emissions or discharges of any pollutant or waste. 17. Financial accounting includes costing; management accounting includes bookkeeping A) True. B) False. Show Answer Correct Answer: B) False. 18. ..... per unit of output do not alter when volumes change A) Stepped Fixed Cost. B) Semi Variable Cost. C) Variable Cost. D) Fixed Cost. Show Answer Correct Answer: C) Variable Cost. 19. Who runs the company operations for large companies? A) Stakeholders. B) Board of Directors. C) Shareholders. D) External auditors. Show Answer Correct Answer: B) Board of Directors. 20. A quantitative plan is A) Ratio. B) Fund flow statement. C) Cash flow statement. D) Budget. Show Answer Correct Answer: D) Budget. 21. Office equipment A) Liability. B) Expenses. C) Asset. D) None of above. Show Answer Correct Answer: C) Asset. 22. 1) Who is known as the father of accounting? A) Alkhawarizmi. B) Leonardo da Vinci. C) Al Mazendarany. D) Friar Luca Pacioli. Show Answer Correct Answer: D) Friar Luca Pacioli. 23. Ideal current ratio is A) 2:1. B) 1:2. C) 1:1. D) None of the above. Show Answer Correct Answer: A) 2:1. 24. Which of the following are the debts of obligations of a business? A) Owner's equity. B) Liabilities. C) Bonds. D) Assets. Show Answer Correct Answer: B) Liabilities. 25. Fixed costs are conventionally deemed to be which of the following? A) Constant per unit of output. B) Easily controlled. C) Outside the control of management. D) Constant in total when production volume changes. Show Answer Correct Answer: D) Constant in total when production volume changes. 26. The accountant wants to assign costs to boxes of biscuits. Which costs can be traced directly to boxes of biscuits? A) The cost of flour and baking soda. B) The cost of packing labor. C) The wages of the mixing labor. D) All of these. Show Answer Correct Answer: D) All of these. 27. AgroBankMajlis Amanah Rakyat (MARA)Amanah Ikhtiar Malaysia (AIM)Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN NASIONAL)Identify the service offered by the institutions. A) Provide funding to start a business or implement a business. B) Assist in reducing the problem of retail space and industrial sites in the area of strategic and viable. C) To increase the technical knowledge available among the entrepreneurs to attend the education provided. D) Assistance in the form of information relating to business opportunities, statistics, new discoveries, research. Show Answer Correct Answer: A) Provide funding to start a business or implement a business. 28. The total Variable Cost ..... A) Is inversely related to the output. B) Is constant. C) Has no relation with output. D) Is directly related to the output. Show Answer Correct Answer: D) Is directly related to the output. 29. The following would appear in which section of the cash flow statement? cash received from sales of services A) Operating. B) Investing. C) Financing. D) None of above. Show Answer Correct Answer: A) Operating. 30. Dizzy employees a certified operator for each of its 35 rides. Each operator is paid $ 20 per hour. The cost of the certified operators would best be described as a: A) Fixed cost. B) Step-variable cost. C) True variable cost. D) Mixed cost. Show Answer Correct Answer: A) Fixed cost. ← PreviousNext →Related QuizzesAccounting QuizzesFinance QuizzesManagement Accounting Quiz 1Management Accounting Quiz 2Management Accounting Quiz 3Management Accounting Quiz 4Management Accounting Quiz 5Management Accounting Quiz 6Management Accounting Quiz 7Management Accounting Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books