On This Page

This set of Management Accounting Multiple Choice Questions & Answers (MCQs) focuses on Management Accounting Set 21

Q1 | The form of balance sheet is
Q2 | The term current asset doesn’t cover
Q3 | A budgeting process which demands each manager to justify his entire budget in detail from beginning is
Q4 | Match the columns(i) Activity Ratio -------------------- i) (Actual hours worked / Budgeted hours) * 100(ii) Capacity Ratio ------------------ ii) (Standard hours of actual production / Actual hours worked) * 100(iii) Efficiency Ratio ----------------- iii) (Standard hours for actual output / Budgeted hours) * 100
Q5 | While preparing sales budget, which of the following factors are considered?
Q6 | _______ provides an estimate of the capital amount that may be required for buying fixed assets needed for meeting production requirements.
Q7 | Plant utilization budget and Manufacturing overhead budgets are types of
Q8 | _______ is designed after assessment of the volume of output to be produced during budgetperiod.
Q9 | ________ is the first step of budgetary system and all other budgets depends on it.
Q10 | _______also known as subsidiary budgets.
Q11 | _________ is stated as a budget which is made to change as per the levels of activity attained.
Q12 | _______ is prepared for single level of activity and single set of business conditions.
Q13 | The process of budgeting helps in the control of
Q14 | Which of the following statements are not true about budget, budgeting & budgetary control?
Q15 | Which of the following statements are true about responsibility accounting?
Q16 | In profit center revenue represents a monetary measure of output emanating from a profitcenter in a given period irrespective whether
Q17 | Contribution margin center is also known as
Q18 | Which of the following is responsibility center?
Q19 | The responsibility centers, for control purposes, may be classified into _____ types.
Q20 | The area of focus on responsibility center is
Q21 | In responsibility cost accounting the costs in focus are
Q22 | The term standard cost refers to the:
Q23 | The sub-variance of material usage variance, known as Material mix variance is measured as
Q24 | Volume variance arises when
Q25 | The corrective actions after the analysis of variances has to be taken by