Following are some of the multiple choice questions on the Management accounting with answers that will help the students in developing their knowledge.
Management accounting MCQ
1. What is standard cost?
3. Indirect costs examples
4. Which of the following are tools of management accounting?
5. Why are budgets useful in the planning process?
6. In a segmented income statement, which of the following statements is true?
7. Which of the following is not a Branch of Accounting
8. A master budget consists of
9. The corrective actions after the analysis of variances has to be taken by
10. A balance sheet is a form of
11. Mixed costs is a combination of variable costs and fixed costs. It is also known as
12. A formula for computing direct materials price variance is
13. A document that records the standard cost of a single unit of product is known as
14. Management accounting deals with
15. Which of the following is an advantage of standard costing?
16. At breakeven point there is
17. Which of the following is not an operating budget?
18. Purpose of financial accounting is
19. Contribution margin ratio can be calculated in all of the following ways except
20. Companies may choose to use variable costing because it
21. Which of the following would be an example of a direct materials cost?
22. While sending the goods for distribution, packing the goods in Carton box will be considered
23. Which one of the following is not a limitation of Financial Accounting
24. A segment could be which of the following?
25. Which of the following cannot be a reason of unfavorable direct materials price variance?
26. Cost management technique which specially addresses strategic issues is classified as
27. The contribution margin increase when sales volume remain the same and
28. Which of the following is an indirect cost?
29. The use of fixed costs to extract higher percentage changes in profits as sales activity changes involves
30. Experimentation and generation of ideas related to new product or services are included in
31. Fishbone diagram is an example of
32. Costs incur for defective products, before their shipment to customers can be categorized as
33. Total manufacturing time is multiplied to manufacturing cycle efficiency to calculate
34. If total number of employees surveyed are 200 and employees that indicate higher rating for satisfaction are 195, then employee satisfaction would be
35. On-time performance and customer-response time are examples of
36. Costs that are incurred to prevent low quality goods production are classified as
37. Timeframe between placement of order until a finished good produces is classified as
38. Costs that are incurred to find manufactured products, which does not meet specifications are called
39. Graph which plots series of successive observations of specific procedure, operation or step at regular time intervals is called
40. Employees that are trained to manage bottlenecks, during production operations and employee satisfaction are related to
41. Reduction in setup time, manufacturing cycle efficiency and average time of manufacturing for key products are examples of
42. Sum of cost of direct materials, costs of buildings, equipment, research and development costs is classified as
43. Consumed time to deliver a complete order to its customers is termed as
44. Number of employees that indicate high ratings of satisfaction, divided by number of surveyed employees are to calculate
45. Time between a customer's order placement till customer receives its delivery is known as
46. A process by which employees can make decisions is divided by total number of processes to calculate
47. A product performance in comparison to its features and design is classified as
48. Statistical quality control is also called
49. Sum of manufacturing and waiting time for an order is classified as
50. A theory which describes techniques of operating income maximization, facing with non-bottleneck and bottle neck operations is
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