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Management Accounting Quiz 43 (30 MCQs)

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1. A total cost is described as staying the same over a certain activity range and then increasing but remaining stable over a revised activity range in the short term. What type of cost is this?
2. Global Giant, a multinational corporation, has a producing subsidiary in a low tax rate country and a marketing subsidiary in a high tax country. If Global Giant wants to minimize its worldwide tax liability, we would expect Global Giant to:
3. Management accounting is based on future events
4. Which of the following forms an item of current assets?
5. What is the classification of Sales?
6. ..... helps the management performing this function by assigning specific responsibilities to different people
7. During the year, a business was bought by issue of Rs 25, 000 debentures and Rs 25, 000 shares. The business bought had machine worth Rs 20, 000, Debtors Rs 15, 000, Stock Rs 5, 000 and Creditors Rs 5, 000. Determine the effect of this transaction on flow of funds.
8. If sales are Rs. 5, 00, 000 and Net profit is Rs. 1, 20, 000. Net profit ratio is
9. Generally, the emergence and growth of management consultancy may be attributed to the following factors, except
10. If P/V ratio is 40% of sales then what about the remaining 60% of sales:
11. The following would appear in which section of the cash flow statement? Cash received from the sale of property
12. Which of the following costs is not a period cost?
13. If the cost of materials for producing 1000 units is Rs 15, 000, what shall be the cost of materials for 1, 500 units
14. Which of the following items relating to bill payable is transferred to total creditor account?
15. Warehouse rent is a part of
16. Break-even quantity for the multiple-product firm can be calculated by
17. Kgs of Raw Material is required for a new project. 150 kgs are already in stock with no other use. If not used in this project, it will be sold as scrap for Rs.10 per kg. Current Market Price is Rs.11. What is the relevant material cost?
18. A repetitive action fulfilling a business function and increasing the worth of the product and the price that the customer is willing to pay for the product is referred to as a:
19. Ratio analysis involves the process of .....
20. A business sells its single product for £40. The variable costs of this product total £32. The fixed costs of the business are £100, 000.What is the sales revenue required in order to make a profit of £200, 000?
21. Gullett Corporation had $ 26, 000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $ 75, 000 of raw materials. The journal entry to record the purchase of raw materials would include a:
22. Which of the following transfer-pricing methods always achieves goal congruence?
23. Future decisions are based on
24. Joint Products and By Products are one and the same thing.
25. ..... is concerned with identifying the root causes of activity costs.
26. STATEMENTS BELOW ARE THE USE OF ENVIRONMENTAL COST, EXCEPT .....
27. When the accountant shows false information in financial statement to lure the investors it is known as
28. Summary of problems faced by PT IP in determining pricing
29. I. Management Accounting-There are no regulations governing the reportII. Management Accounting-The reports are generally delayedIII. Financial Accounting-Caters all purpose reports.IV. Financial Accounting-Precision is emphasized.
30. When managers set and measure target levels of performance and feedback:
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