MCQOPTIONS
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MCQOPTIONS
This section includes 1713 Mcqs, each offering curated multiple-choice questions to sharpen your General Management knowledge and support exam preparation. Choose a topic below to get started.
| 701. |
--------------- Following is (are) called the element(s) of Cost |
| A. | Material |
| B. | Labour |
| C. | Expenses |
| D. | All of the above |
| Answer» E. | |
| 702. |
The cause(s) of idle time can be analysed as |
| A. | Administrative causes |
| B. | Productive causes |
| C. | Economic causes |
| D. | All of the above |
| Answer» E. | |
| 703. |
Following is used as tool for Cost Control |
| A. | Marginal cost |
| B. | Historical cost |
| C. | Standa |
| D. | cost (D) All of the above |
| Answer» D. cost (D) All of the above | |
| 704. |
Budgetary control facilitates easy introduction of the… |
| A. | Marginal costing |
| B. | Ratio analysis |
| C. | Standa |
| D. | costing D) Subjective matter |
| Answer» D. costing D) Subjective matter | |
| 705. |
The term management accounting was first coined in |
| A. | 1960 |
| B. | 1950 |
| C. | 1945 |
| D. | 1955 |
| Answer» C. 1945 | |
| 706. |
A favorable direct materials price variance occurs when: |
| A. | Actual rate of direct materials is higher than standard rate of direct materials |
| B. | Actual rate of direct materials is equal to standard rate of direct materials |
| C. | Actual rate of direct materials is less than standa |
| D. | rate of direct materials |
| Answer» D. rate of direct materials | |
| 707. |
As production increases within the relevant range, |
| A. | variable costs will vary on a per unit basis. |
| B. | variable costs will vary in total. |
| C. | fix |
| D. | costs will vary in total. |
| Answer» C. fix | |
| 708. |
In responsibility accounting system… |
| A. | Budgets are prepared |
| B. | Actual performance is recorded |
| C. | The performance is report |
| D. | All of the above |
| Answer» E. | |
| 709. |
The responsibility accounting is a system by which the responsibility is assigned to theconcerned persons… |
| A. | To increase sales |
| B. | To control cash |
| C. | To increase production |
| D. | All of the above |
| Answer» C. To increase production | |
| 710. |
The management accounting can be stated an extension of 1) Cost Accounting 2 ) Financial Accounting 3) Responsibility Accounting |
| A. | Both 1 and 2 |
| B. | Both 1 and 3 |
| C. | Both 2 a 3 |
| D. | 1, 2, 3 |
| Answer» E. | |
| 711. |
The problems associated with marginal costing are |
| A. | Difficulties in divisions of costs |
| B. | Problem of valuation of stocks |
| C. | Ignores time elements |
| D. | All of the above |
| Answer» E. | |
| 712. |
The determination of actual value of assets employed in a responsibility centre is… |
| A. | Easy |
| B. | Can’t determine |
| C. | Difficult |
| D. | Not necessary |
| Answer» D. Not necessary | |
| 713. |
The tendency for low-quality cars to drive high quality cars out of the used car market is anexample of |
| A. | Hedging. |
| B. | Adverse selection. |
| C. | Portfolio analysis. |
| D. | Moral hazard. |
| Answer» C. Portfolio analysis. | |
| 714. |
The responsibility accounting emphasizes the performance of ____ |
| A. | System |
| B. | Men |
| C. | Both |
| D. | None of these |
| Answer» C. Both | |
| 715. |
Which of the following is a way to deal with decision making under uncertainty? |
| A. | Simulation |
| B. | Diversification |
| C. | Acquisition of additional information |
| D. | Application of the maximin criterion |
| Answer» B. Diversification | |
| 716. |
From the strategic point of view, in which three categories can an organisation, be grouped? |
| A. | Defenders |
| B. | Prospectors |
| C. | Analyzers |
| D. | All of the above |
| Answer» E. | |
| 717. |
Which one of the following is not one of the Balanced Scorecard’s four generic perspectives? |
| A. | Marketing and advertising |
| B. | internal business processes |
| C. | Innovation a |
| D. | learning D) financial |
| Answer» B. internal business processes | |
| 718. |
Contribution margin is also known as |
| A. | Gross profit |
| B. | Net profit |
| C. | Earning before tax |
| D. | Marginal income |
| Answer» E. | |
| 719. |
________ do not give the returns during the same period during which they are paid for |
| A. | Intangible assets |
| B. | Fixed assets |
| C. | Both (A) a |
| D. | (B) (D) None of the above |
| Answer» C. Both (A) a | |
| 720. |
Key motivational factors in budgeting do not include |
| A. | Training in the budget process |
| B. | correct identification of the blame for below budget performance |
| C. | the feedback of information |
| D. | the setting of fair, achievable standards |
| Answer» C. the feedback of information | |
| 721. |
The analysis of a complex decision situation by constructing a mathematical model of thesituation and then performing a large number of iterations in order to determine the probability distribution of outcomes is called |
| A. | Sensitivity analysis. |
| B. | Expected utility analysis. |
| C. | Simulation |
| D. | A decision tree. |
| Answer» D. A decision tree. | |
| 722. |
Which of the following does not help to minimize the problems encountered in budgeting? |
| A. | Ensuring adequate budget planning |
| B. | identifying the responsibility for key performance areas |
| C. | Encouraging manager participation |
| D. | keeping bad news from the managing director |
| Answer» E. | |
| 723. |
Key factor is also known as… |
| A. | Limiting factor |
| B. | Governing factor |
| C. | Principal factor |
| D. | All |
| Answer» E. | |
| 724. |
Which phrase best describes the current role of the managerial accountant? |
| A. | Managerial accountants prepare the financial statements for an organization. |
| B. | Managerial accountants facilitate the decision-making process within an organization. |
| C. | Managerial accountants make the key decisions within an organization. |
| D. | Managerial accountants are primarily information collectors. |
| Answer» C. Managerial accountants make the key decisions within an organization. | |
| 725. |
Budgetary control system acts as a friend, philosopher and guide to the… |
| A. | Management |
| B. | Share holders |
| C. | Creditors |
| D. | Employees |
| Answer» B. Share holders | |
| 726. |
Match the following general applications of performance assessment with their specificpurposes I. Administrative Uses/ Decisions ----- A. Performance Feedback II. Documentation ------ B. Lay - offs III Organizational Maintenance/ Objectives ---- C. Helping to meet legal requirements IV. Developmental Uses ----- D. Evaluation of HR systems |
| A. | I-C, II-D, III-B, IV-A |
| B. | I-B, II-C, III-D, IV-A |
| C. | I-B, II-C, III-D, IV |
| D. | D. I-A, II-B, III-D, IV-C |
| Answer» C. I-B, II-C, III-D, IV | |
| 727. |
The responsibility accounting is the part of … |
| A. | Financial accounting |
| B. | Management accounting |
| C. | Mechaniz |
| D. | accounting D) none of these |
| Answer» C. Mechaniz | |
| 728. |
In comparison to the traditional manufacturing environment, overhead costs in a JITenvironment all the following are true except |
| A. | is more easily tracked to products. |
| B. | is frequently direct in nature. |
| C. | includes rent, insurance a |
| D. | utilities. |
| Answer» E. | |
| 729. |
Circumstances that influence the profitability of a decision are referred to as |
| A. | Strategies. |
| B. | A payoff matrix. |
| C. | States of nature. |
| D. | The marginal utility of money. |
| Answer» D. The marginal utility of money. | |
| 730. |
Contribution is the difference between |
| A. | Sales and variable cost |
| B. | Sales and fixed cost |
| C. | Sales a |
| D. | total cost D Factory cost and profit |
| Answer» B. Sales and fixed cost | |
| 731. |
When fixed cost is Rs. 20,000 and Profit volume ratio is 25 per cent, then breakeven pointwill occur at |
| A. | Rs. 5000 |
| B. | 5000 units |
| C. | Rs. 80,000 |
| D. | 80,000 units |
| Answer» D. 80,000 units | |
| 732. |
The term standard cost refers to the: |
| A. | Average unit cost of product produced in the previous period |
| B. | Budgeted unit cost of product produced in a particular period |
| C. | Average unit cost of product produc |
| D. | by other companies |
| Answer» C. Average unit cost of product produc | |
| 733. |
Which of the following is a correct formula for computing direct materials price variance? |
| A. | Standard quantity purchased × (Actual rate - Standard rate) |
| B. | Actual quantity purchased × (Actual rate - Standard rate) |
| C. | Standa |
| D. | quantity purchased × (Actual rate + Standard rate) |
| Answer» C. Standa | |
| 734. |
The responsibility accounting is also called… |
| A. | Profitability accounting |
| B. | Activity accounting |
| C. | Both |
| D. | None of these |
| Answer» D. None of these | |
| 735. |
What do successful analyzers tend to examine? |
| A. | Division and corporate performance evaluation |
| B. | Ideal appraisal process |
| C. | Current performance with past performance |
| D. | None of the above |
| Answer» D. None of the above | |
| 736. |
__________ Accounting becomes a source of information for Management Accounting. |
| A. | Financial |
| B. | Cost |
| C. | Both (A) a |
| D. | (B) (D) None of the above |
| Answer» B. Cost | |
| 737. |
The responsibility accounting stresses on _________ |
| A. | Decentralization |
| B. | Centralization |
| C. | Both (a) & (b) |
| D. | None of these |
| Answer» B. Centralization | |
| 738. |
All of the following statements regarding budgeting is true except |
| A. | Budgeting helps managers determine the resources needed to meet their goals and objectives. |
| B. | Budgeting is a key ingredient in good decision-making. |
| C. | Budgeting is a bookkeeping task |
| D. | The focus of budgeting is planning. |
| Answer» D. The focus of budgeting is planning. | |
| 739. |
…………….is concerned with recording transactions and preparing financialreports for the external and internal users of accounting. |
| A. | management accounting |
| B. | financial accounting |
| C. | cost accounting |
| D. | all of these |
| Answer» C. cost accounting | |
| 740. |
The Branch of accounting concerned with collection, determining andcontrolling cost of products and services is called……………… |
| A. | management accounting |
| B. | financial accounting |
| C. | cost accounting |
| D. | all of these |
| Answer» D. all of these | |
| 741. |
……………is concerned with providing information to management for takingmanagerial decisions. |
| A. | management accounting |
| B. | financial accounting |
| C. | cost accounting |
| D. | all of these |
| Answer» B. financial accounting | |
| 742. |
……………….is the art of recording, classifying and summarizing in asignificant manner and in terms of money, transactions and events, which are in part, at least of financial character and interpreting the results there of. |
| A. | management accounting |
| B. | accounting |
| C. | cost accounting |
| D. | all of these |
| Answer» C. cost accounting | |
| 743. |
The father of Double Entry system is……………… |
| A. | luca pacioli |
| B. | lopus patricia |
| C. | lukas christian |
| D. | none of these |
| Answer» B. lopus patricia | |
| 744. |
Which among the following do not belong to the category of Accounting ? |
| A. | management accounting |
| B. | financial accounting |
| C. | cost accounting |
| D. | none of these |
| Answer» E. | |
| 745. |
The objective of financial accounting is to find out………………….. |
| A. | profitability and financial position |
| B. | liquidity |
| C. | solvency |
| D. | none |
| Answer» B. liquidity | |
| 746. |
……………….journal is used to record credit sale of goods |
| A. | sales journal |
| B. | cash book |
| C. | purchase journal |
| D. | none of these |
| Answer» B. cash book | |
| 747. |
The ………….Management is mainly concerned with the policy decisions. |
| A. | top |
| B. | middle |
| C. | bottom |
| D. | all of these |
| Answer» B. middle | |
| 748. |
The Prime function of accounting is to ……………………….. |
| A. | record economic data |
| B. | provide the informational basis for action |
| C. | classify and record business transactions |
| D. | attain non economic goals |
| Answer» D. attain non economic goals | |
| 749. |
The basic function of Management Accounting is to ………………………. |
| A. | record all business transactions |
| B. | interpret the financial data |
| C. | assist the management in performing its functions effectively |
| D. | none of these |
| Answer» D. none of these | |
| 750. |
Management accounting provides invaluable services to Management inperforming………….. |
| A. | all management functions |
| B. | co-ordination functions |
| C. | controlling functions |
| D. | none of these |
| Answer» B. co-ordination functions | |