This quiz works best with JavaScript enabled. Home > Finance > Accounting > Management Accounting > Management Accounting – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Management Accounting Quiz 9 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Jexerlin Berhad's activity cost pools is machine hours, with estimated overhead of RM180, 000. The company produces coffee tables (400 machine hours) and dining tables (600 machine hours). How much of the overhead should be assigned to coffee table? A) RM180, 000. B) RM108, 000. C) RM72, 000. D) RM90, 000. Show Answer Correct Answer: C) RM72, 000. 2. The term standard cost refers to the A) Average unit cost of product produced in the current period. B) Average unit cost of product produced in the previous period. C) Budgeted unit cost of product produced in a particular period. D) Average unit cost of product produced by other companies. Show Answer Correct Answer: C) Budgeted unit cost of product produced in a particular period. 3. As discussed in the class, Profit and Loss account is like a photograph of a person A) False. B) True. Show Answer Correct Answer: A) False. 4. Management accounting maintains A) Journal. B) Ledger. C) Trial Balance. D) None of these. Show Answer Correct Answer: D) None of these. 5. Opening balance of debtors ₹ .30, 000 cash received ₹ .1, 00, 000 credit sales ₹ 90, 000 closing balance of debtors is ..... A) ₹ .30, 000. B) ₹ .20, 000. C) ₹ .1, 30, 000. D) ₹ .40, 000. Show Answer Correct Answer: B) ₹ .20, 000. 6. Management Accounting is useful for taking A) Operational Decisions. B) Routine Decisions. C) Policy Decisions. D) All the Above. Show Answer Correct Answer: D) All the Above. 7. In Management accounting, an emphasis and focus must be A) Bank oriented. B) Past oriented. C) Future oriented. D) Communication oriented. Show Answer Correct Answer: C) Future oriented. 8. Which of the following is NOT a level of Maslow's hierarchy of needs? A) Personal interest. B) Safety. C) Self-esteem. D) Self-actualization. Show Answer Correct Answer: A) Personal interest. 9. The overheads cost of a firm at 12, 000 output is Rs. 1, 00, 000 and at 14, 000 is Rs. 1, 20, 000. Whats type of cost is this based on behaviour? A) Fixed. B) Variable. C) Semi variable. D) None of above. Show Answer Correct Answer: C) Semi variable. 10. Management accounting deals with A) Qualitative. B) Quantitative. C) Both A and B. D) None of the Above. Show Answer Correct Answer: C) Both A and B. 11. Miguel is a wholesaler who sells furniture to retailers. Which of the following is a revenue receipt? A) Income received from the sale of furniture. B) Capital introduced into the business by the owner. C) Income received from the sale of old office equipment. D) A loan received from the bank for expansion of the showroom. Show Answer Correct Answer: A) Income received from the sale of furniture. 12. The following information is available for plastic grade RX3:* Annual demand-225, 000 kilograms * Annual holding cost per kilogram-£0.50 * Fixed ordering cost-£2.50 A) 1, 300 kg. B) 1, 500 kg. C) 1, 420 kg. D) 1, 600 kg. Show Answer Correct Answer: B) 1, 500 kg. 13. The accounting standard for Cash flow statement A) AS-3. B) AS-2. C) AS-4. D) AS-5. Show Answer Correct Answer: A) AS-3. 14. Valvano Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $ 440, 000, variable manufacturing overhead of $ 2.20 per machine-hour, and 50, 000 machine-hours. The estimated total manufacturing overhead is closest to: A) $ 440, 000. B) $ 440, 002. C) $ 110, 000. D) $ 550, 000. Show Answer Correct Answer: D) $ 550, 000. 15. Manaement accounting is highley sensitive to- A) Government needs. B) Investors needs. C) Management needs. D) Towards all these needs. Show Answer Correct Answer: C) Management needs. 16. The P/V Ratio is 40% and the Selling Price per unit 40, then the Variable cost per unit is A) 16. B) 10. C) 24. D) 54. Show Answer Correct Answer: C) 24. 17. Management's operating & financial plans for a specified period, including budged financial reports is expressed in: A) Cash Budget. B) Sales Budget. C) Production Budget. D) Master Budget. Show Answer Correct Answer: D) Master Budget. 18. At a sales volume of 40, 000 units, Lonnie Company's total fixed costs are $ 40, 000 and total variable costs are $ 60, 000. The relevant range is 30, 000 to 50, 000 units. If Lonnie were to sell 42, 000 units, the total expected cost would be: A) $ 102, 000. B) $ 103, 000. C) $ 100, 000. D) $ 105, 000. Show Answer Correct Answer: B) $ 103, 000. 19. Drawings by Proprietor in cash out flow from A) Trading activities. B) Investing. C) Financing. D) Operating. Show Answer Correct Answer: C) Financing. 20. The use of Management accounting is- A) Compulsory. B) Legally obligatory. C) Optional. D) Compulsory to some and optional to other. Show Answer Correct Answer: C) Optional. 21. Cash flows include A) Cash receipts only. B) Cash payments only. C) Cash receipts and payment. D) Cash and non-cash incomes and expenses. Show Answer Correct Answer: C) Cash receipts and payment. 22. Quick assets are equal to ..... A) Current Assets. B) Current Assets less stock and prepaid expenses. C) Current Assets plus Stock and prepaid expenses. D) Stock and prepaid expenses. Show Answer Correct Answer: B) Current Assets less stock and prepaid expenses. 23. If Capital is $ 31, 400 and Liabilities are $ 15, 500, how much are Assets? A) $ 46, 900. B) $ 15, 500. C) $ 15, 900. D) None of above. Show Answer Correct Answer: A) $ 46, 900. 24. ..... is / are cash inflows A) Decrease in debtors. B) Increase in creditor. C) Decrease in stock. D) All of the above. Show Answer Correct Answer: D) All of the above. 25. Capital is the money invested by the owner of the business. But it is shown in the liability side of Balance sheet because of A) Going Concern Concept. B) Conservatism Concepts. C) Cost Concept. D) Separate Entity Concept. Show Answer Correct Answer: D) Separate Entity Concept. 26. If the total cost of 100 units is Rs. 5, 000 and those of 101 units is Rs. 5, 040 then increase of Rs. 40 in total cost is A) Marginal cost. B) Prime cost. C) Fixed cost. D) None of the above. Show Answer Correct Answer: A) Marginal cost. 27. Which of the following statements would be best suited to represent the relationship between a company's advertising expenditure and its sales revenue? 1 A pie chart2 A bar chart3 A scatter graph A) 1 only. B) 2 only. C) 3 only. D) 2 and 3 only. Show Answer Correct Answer: C) 3 only. 28. Purchases from a supplier on credit is a liability. A) False. B) True. Show Answer Correct Answer: B) True. 29. For the financial year ended 31st March 2015, the figures extracted from the balance sheet of Excel Ltd. are as under:Opening stock ₹ 29, 000 Closing stock ₹ 31, 000 Purchases ₹ 2, 42, 000 The stock turnover ratio will be- A) 12 Times. B) 2 Times. C) 8 Times. D) 4 Times. Show Answer Correct Answer: C) 8 Times. 30. At break Even Point ..... is equal to fixed cost A) Profit. B) Loss. C) Sales. D) Contribution. Show Answer Correct Answer: D) Contribution. ← 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