Strategic Cost Accounting Set 4

Master of Commerce (M.com)

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This set of Strategic Cost Accounting Multiple Choice Questions & Answers (MCQs) focuses on Strategic Cost Accounting Set 4

Q1 | Productivity is the ratio between input and __________.
  • Product
  • Output
  • Value
  • Cost
Answer: Output
Q2 | Labour productivity measures the growth in value added _____ per unit of labour used.
  • Input
  • Output
  • Cost
  • Energy
Answer: Output
Q3 | Pareto Principle is ______ rule.
  • 80/20
  • 50/50
  • 60/40
  • 10/90
Answer: 80/20
Q4 | The Theory of Constraints is an organizational change method that is focused on ___________improvement.
  • Profit
  • Cost
  • Product
  • Economics
Answer: Profit
Q5 | The essential concept of TOC is that every organization must have at least one ____________.
  • Process
  • Function
  • Constraint
  • Cost
Answer: Constraint
Q6 | A _______ is any factor that limits the organization from getting more of whatever it strives for.
  • Constraint
  • Cost
  • Profit
  • Revenue
Answer: Constraint
Q7 | Lean management has been developed with the intention of reducing ________________ andmaximizing the value of the product or the service to the customer.
  • Cost
  • Value Cost
  • Process Waste
  • Profit
Answer: Process Waste
Q8 | ________________ is an important part of lean thinking.
  • Lean Management
  • Cost Management
  • Strategic Cost
  • Cost Reduction
Answer: Lean Management
Q9 | A ______________ is the sequence of phases that a project goes through from its initiation to itsclosure.
  • Product Management
  • Project Management
  • Project Sequencing
  • ProjectLife Cycle
Answer: ProjectLife Cycle
Q10 | ____________ describes the activities within and around an organization, and relates them toan analysis of the competitive strength of the organization.
  • Value Chain Analysis
  • Value Management
  • Value Engineering
  • Strategic Cost
Answer: Value Chain Analysis
Q11 | Porter argues that the ability to perform particularactivities and to manage the linkages betweenthese activities is a source of _______________ advantage.
  • Cost
  • Competitive
  • Functional
  • Profitability
Answer: Competitive
Q12 | _________ is referred to as continuous improvement costing.
  • Kaizen
  • JIT
  • Kanban
  • Cost sensitivity
Answer: Kaizen
Q13 | Kaizen is a method aimed at ______ reduction below standard level, but without negative effectson quality, staff, safety, etc.
  • Cost
  • Waste
  • Non – value activities
  • Constraints
Answer: Cost
Q14 | ______________ is introduced as a technique that aims to manage product costs throughout thedesign stage.
  • Process Costing
  • Product Costing
  • Target Costing
  • Strategic Costing
Answer: Target Costing
Q15 | Target costing is a ___________ costing methodology, in which the selling price and therequired profit margin are used to determine the allowable cost for manufacturing a new/existing product.
  • Modern
  • Reverse
  • Product
  • Process
Answer: Reverse
Q16 | _________ Costing Also known as delayed costing,
  • Backflush
  • Conventional
  • Modern
  • Competitive
Answer: Backflush
Q17 | Backflush costing is an accounting method that records costs after a good is sold or a service is ___________.
  • Initiated
  • Progressed
  • Completed
  • Planned
Answer: Completed
Q18 | ____________ means change for the better.
  • Kaizen
  • Theory of Constraints
  • Kanban
  • C. JIT
Answer: Kaizen
Q19 | TOC stands for _____________________.
  • Theory of Competition
  • Theory of Cost
  • Theory of Constraints
  • Theory of Complexity
Answer: Theory of Constraints
Q20 | TQM stands for _____________________.
  • Total Quality Misrepresentation
  • Team Quality Manager
  • Total Quality Management
  • Theoretical Quality Management
Answer: Total Quality Management
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