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ACCOUNTING FOR MANAGEMENT MCQ
ACCOUNTING FOR MANAGEMENT MCQ
a)1950
b) 1945
c) 1955
d) 1960
Answer: A
Answer: D
a). Decision about types of standards to be used, Study of technical details, Study of existing
costing system
b). Study of existing costing system, Study of technical details, Decision about types of standards
to be used
c). Study of technical details, Study of existing costing system, Decision about types of standards
to be used
Answer: C
b) Only in planning
c) Only in direction
d) Only in control
Answer: A
A) Standard costing
B) Decision accounting
D) Budgetary control
a) A, C and D
b) A, B and D
c) A, B , C, D
d) A, B and C
Answer: b) A, B and D
a) R.N Anthony
b) J. Batty
c) James H. Bliss
Answer: C
Q.7 An accounting approach, in which the expected benefits exceed the expected cost is
classified as
a) cost-benefit approach
b) benefit approach
c) cost approach
d) accounting approach
Answer: A
a) Qualitative information
b) Quantitative information
d) Both a and b
Answer: D
Q9. Decisions regarding usage of material, kind and changes in plant processing are a part
of
a) help management
b) future management
c) cost management
d) past management
Answer: C
a) past oriented
b) future oriented
c) bank oriented
d) communication oriented
Answer: B
Question 1
Answer: B
Question 2
As per the accounting double-entry system, an account that receives the benefit is
B) Income
C) Debit
D) Credit
Answer: D
Question 3
B) Provides benefits
D) Receiving benefits
Answer: D
Question 4
Question 5
Answer: A
Question 6
A) Selling Expenses
B) Financial Expenses
C) General Expenses
Answer: D
Question 7
Which option gives a review report on the firm’s financial status at a specified date?
B) Balance Sheet
Answer: B
Question 8
Which of the options is not an intangible asset?
A) Land
B) Patents
C) Goodwill
D) Franchise rights
Answer: A
Question 9
A) Creditors
B) Cash
C) Building
D) Land
Answer: A
Question 10
D) Added in liabilities
Answer: B
A) Profit maximization
B) All features of obtaining and using financial resources for company operations
C) Organization of funds
Answer: B
D) To raise profit
Answer: B
A) Development
B) Dividend
C) Destiny
D) Duration
E) Destination
Answer: E
Answer: C
B) The government
C) Shareholders
Answer: A
B) Fixed assets
Answer: C
Answer: A
Answer: C
A) Machines
B) Bonds
C) Stocks
D) B and C
Answer: B
A) Financing Activities
B) Operating Activities
C) Investing Activities
Answer: D
2. In cash flows, when a company invests in fixed assets and short-term financial investments
results in
A) Increased Equity
B) Increased Liabilities
C) Decreased Cash
D) Increased Cash
Answer: C
3. A company that issues stocks and bonds to raise funds results in
A) Decrease in Cash
B) Increase in Cash
D) Increase in Liabilities
Answer: B
A) Appreciated Liabilities
B) Appreciated Assets
C) Depreciation
D) Appreciation
Answer: C
Answer: D
A) Payment of Dividends
Answer: A
A) Issue of Debenture
Answer: D
Answer: C
C) Interest Paid
D) All the above
Answer: D
Answer: B
2. In the books of account if a transaction is completely deleted, will it affect the trial balance?
A) No
B) Yes
Answer: A
A) Specialised Journals
B) Balance Sheet
C) Ledger Accounts
D) General Journal
Answer: C
A) It is a financial statement
Answer: D
5. When debit balance is equal to credit balance then the trial balance means
B) Mathematically Capital+Liabilities=Assets
Answer: B
Answer: A
A) Deposit in transit
B) Compensating errors
Answer: D
8. When credit balances = debit balances, the trial balance check and shows ____________ . It
also indicates that there were no errors made during posting and recording and posting.
A) Understatements of Balances
B) Errors of Commission
C) Arithmetic Accuracy
Answer: C
9. Which of the following account with normal balance is shown at the debit side of a trial
balance?
A) Creditors account
D) Cash account
Answer: D
10. In trial balance, which accounts with normal balance is recorded at the credit side?
A) Bank account
B) Equipment account
C) Cash account
Answer: D