Management Accounting Set 16
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This set of Management Accounting Multiple Choice Questions & Answers (MCQs) focuses on Management Accounting Set 16
Q1 | For preparing an effective budget it needs accounting information which is
- Structured around the past data need of the management
- Structured around the line communication needs of the management
- Structured around financial needs of the management
- Structured around the planning and control needs of the management
Q2 | Long period budgets are prepared under
- Receipts and payment method
- Balance sheet method
- Adjusted profit and loss method
- Receipts and payments, balance sheet method
Q3 | A budget specifies the operations to be performed during the next year is called __________
- Operation budget
- Responsibility budget
- Activity budget
- Flexible budget
Q4 | The branch of accounting which primarily deals with processing and presenting accounting data fro internal use is ________________
- Cost accounting
- Financial accounting
- Management accounting
- Inflation accounting
Q5 | The term management accounting was used in
- 1950
- 1939
- 1910
- 1947
Q6 | Management accounting is also known as _______________
- Price level accounting
- Historical accounting
- Decision accounting
- None of these
Q7 | Which of the following is not a technique of management accounting
- Budgetary control
- Standard costing
- Marginal costing
- Process costing
Q8 | Management accounting is helpful in increasing _______________
- Performance
- Profitability
- Efficiency
- Production
Q9 | Management accounting has a ___________ scope than cost accounting
- Wider
- Narrower
- Smaller
- None of these
Q10 | Management accounting helps in ___________ data
- Analysis
- Interpretation
- Analysis and interpretation
- None of these
Q11 | Management accounting provides alternative choices for managerial ___________
- Decisions
- Policies
- Uses
- None of these
Q12 | Publication of management accounting statements are ______________
- Compulsory
- Not optional
- Optional
- None of these
Q13 | Management accounting deals only with that information which is useful to the ___________
- Accountant
- Owners
- Management
- All of the above
Q14 | The prime function of management accounting is to -------------------------------
- Interpret financial data
- Assist the management in performing its functions
- Record business transaction
- None of these
Q15 | Management accounting relates to ________
- Recording of accounting data
- Recording of costing data
- Presentation of accounting data
- None of these
Q16 | Management accounting analyses accounting data with the help of -------------------------
- Auditors
- Statutory forms
- Tools and techniques
- None of these
Q17 | Management accounting and cost accounting functions are --------------------------
- Neutral in effect
- Complementary in nature
- Contradictory in nature
- None of these
Q18 | Management accounting provides valuable services to management in performing ____
- Coordinating functions
- Controlling functions
- Planning functions
- All managerial functions
Q19 | Management accounting and financial accounting differ in that management accountinginformation is prepared
- following prescribed rules
- using whatever methods, the company finds beneficial.
- for shareholders.
- to summarize the whole company with little detail.
Q20 | Management accounting is the branch of accounting concerned with reporting to
- internal managers.
- shareholders.
- the government
- bankers.
Q21 | The use of management accounting is
- Optional
- Compulsory
- Legally obligatory
- Compulsory to some and optional to others
Q22 | The management accounting can be stated an extension of A) Cost Accounting B) Financial Accounting C) Responsibility Accounting
- Both A and B
- Both A and C c)
- Both B and C
- A,
Q23 | Which of the following is true about management accounting? A) Management accounting is associated with presentation of accounting data. B) Management accounting is extremely sensitive to investors needs.
- Only A
- Only B
- Both A and B
- None of the above
Q24 | Which of the following are tools of management accounting?A) Decision accountingB) Standard costingC) Budgetary controlD) Human Resources Accounting
- A, B and D
- A, C and D
- A, B and C
- A, B , C, D
Q25 | Management accounting is related withA) The problem of choice makingB) Recording of transactionsC) Cause and effect relationships
- A and B
- B and C
- A and C
- All are false