100+ Advanced Management Accounting Solved MCQs

32

11.2k

5

1.	The business environmental factors are _________.
A.	Static
B.	Dynam
C.	C. Both of the above
D.	None of the above
Answer» B. Dynam

discuss

2.	The control ratios used by the management to know whether the deviations of the actual performance from the budgeted performance are favourable or unfavourable are __________.
A.	Capacity ratio and calendar ratio.
B.	Efficiency ratio and calendar ratio.
C.	Both A a
D.	B D. None of these
Answer» A. Capacity ratio and calendar ratio.

discuss

3.	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» D. All of the above

discuss

4.	___________ is not suitable where selling price is determined on the basis of cost-plus method.
A.	Absorption costing
B.	Marginal costing
C.	Both A a
D.	B D. None of the above
Answer» B. Marginal costing

discuss

5.	Managers utilizes marginal costing for
A.	Make or buy decision
B.	Utilisation of additional capacity
C.	Determination of dumping price
D.	All of the above
Answer» D. All of the above

discuss

6.	Which of the following are advantages of marginal costing?
A.	Makes the process of cost accounting more simple
B.	Helps in proper valuation of closing stock
C.	Useful for standa
D.	and budgetary control D. All of the above
Answer» D. and budgetary control D. All of the above

discuss

7.	Given production is 1,00,000 units, fixed costs is Rs 2,00,000 Selling price is Rs 10 per unit and variable cost is Rs 6 per unit. Determine profit using technique of marginal costing.
A.	Rs 2, 00,000
B.	Rs 8, 00,000
C.	Rs 6, 00,000
D.	None of the above
Answer» A. Rs 2, 00,000

discuss ⁽¹⁾

8.	Contribution margin is also known as
A.	Gross profit
B.	Net profit
C.	Earning before tax
D.	Marginal income
Answer» D. Marginal income

discuss

9.	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» A. Sales and variable cost

discuss

10.	When fixed cost is Rs. 20,000 and Profit volume ratio is 25 per cent, then breakeven point will occur at
A.	Rs. 5000
B.	5000 units
C.	Rs. 80,000
D.	80,000 units
Answer» C. Rs. 80,000

discuss

11.	Period cost means
A.	Variable cost
B.	Fixed costs
C.	Prime cost
D.	Factory cost
Answer» B. Fixed costs

discuss

12.	If profit-volume ratio is 25 per cent and sales is Rs. 100,000, the variable cost will be
A.	Rs. 25,000
B.	Rs. 50,000
C.	Rs. 75,000
D.	None of the above
Answer» C. Rs. 75,000

discuss

13.	The valuation of stock in marginal costing as compared to absorption costing is
A.	Higher
B.	Lower
C.	Same
D.	None of the above
Answer» D. None of the above

discuss

14.	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» B. Budgeted unit cost of product produced in a particular period

discuss

15.	The term budgeted cost refers to the:
A.	Estimated expenses of budgeted production
B.	Actual expenses of budgeted production
C.	Estimat
D.	expenses of actual production
Answer» A. Estimated expenses of budgeted production

discuss

16.	……………is concerned with providing information to management for taking managerial decisions.
A.	Management Accounting
B.	Financial accounting
C.	Cost accounting
D.	All of these
Answer» A. Management Accounting

discuss

17.	Which among the following is not a management accounting technique?
A.	Standard costing
B.	marginal costing
C.	Project appraisal
D.	None
Answer» D. None

discuss

18.	The essence of marginal costing is that ……………… cost is considered on the whole as separate.
A.	Fixed
B.	variable
C.	both of these
D.	none of these
Answer» A. Fixed

discuss

19.	A document that records the standard cost of a single unit of product is known as:
A.	Bill of materials
B.	Bill of product
C.	Standa
D.	cost card D. product expense card
Answer» C. Standa

discuss

20.	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

discuss

21.	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» B. Managerial accountants facilitate the decision-making process within an organization.

discuss

22.	In comparison to the traditional manufacturing environment, overhead costs in a JIT environment 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» D. utilities.

discuss

23.	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» B. variable costs will vary in total.

discuss

24.	Which of the following statements regarding graphs of fixed and variable costs is true?
A.	Variable costs can be represented by a straight line where costs are the same for each data point.
B.	Fixed costs can be represented by a straight line starting at the origin and continuing through each data point.
C.	Fix
D.	costs are zero when production is equal to zero.
Answer» D. costs are zero when production is equal to zero.

discuss

25.	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» C. Budgeting is a bookkeeping task

discuss

26.	A 'direct' cost is a cost that is classified by:
A.	behaviour
B.	traceability
C.	controllability
D.	Relevance
Answer» B. traceability

discuss

27.	Which of the following costs is not capitalized as inventory?
A.	costs of delivering finished goods
B.	factory (manufacturing) overhead
C.	insurance of factory building a
D.	equipment
Answer» B. factory (manufacturing) overhead

discuss

28.	A management concept under which all managers and employees at all stages of company operations strive toward higher standards and a reduced number of defective units are called:
A.	Continuous Improvement
B.	Total Quality Management (TQM)
C.	Theory of Constraints (TOC)
D.	Total Quality Control (TQC)
Answer» B. Total Quality Management (TQM)

discuss

29.	The following information belongs to John Manufacturing Company that uses a standard costing system: • Basic wage rate:Rs.12 per hour • Fringe benefits: Rs. 2 per hour • Basic time: 2 hours per unit • Allowance for down time: 0.3 hours per unit • Allowance for brakes: 0.2 hours per unit Based on the above information, what is the standard direct labor cost per unit?
A.	RS.35
B.	RS.28
C.	RS.30
D.	RS.32.2
Answer» A. RS.35

discuss

30.	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» B. Actual quantity purchased × (Actual rate - Standard rate)

discuss

31.	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» C. Actual rate of direct materials is less than standa

discuss

32.	The “standard hours allowed” or “standard quantity allowed” is equal to:
A.	Actual output in units × standard input allowed
B.	Actual output in units × standard output allowed
C.	Actual output in units × standa
D.	output allowed
Answer» B. Actual output in units × standard output allowed

discuss

33.	During the month of January, the standard cost of actual hours worked amounted to Rs.25, 000, the standard direct labor rate was Rs.10 per hour and the direct labor efficiency variance amounted to Rs.1, 000 favorable. The standard hours allowed for actual production were:
A.	2,500 hours
B.	2,400 hours
C.	10,000 hours
D.	2,600 hours
Answer» D. 2,600 hours

discuss ⁽¹⁾

34.	Which one of the following does measure risk?
A.	Coefficient of variation
B.	Standard deviation
C.	Expect
D.	value D. All of the above are measures of risk.
Answer» C. Expect

discuss

35.	A situation in which a decision maker knows all of the possible outcomes of a decision and also knows the probability associated with each outcome is referred to as
A.	Certainty.
B.	Risk.
C.	Uncertainty.
D.	Strategy.
Answer» B. Risk.

discuss

36.	A situation in which a decision maker must choose between strategies that have more than one possible outcome when the probability of each outcome is unknown is referred to as
A.	Diversification.
B.	Certainty.
C.	Risk.
D.	Uncertainty.
Answer» D. Uncertainty.

discuss

37.	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» C. States of nature.

discuss

38.	The analysis of a complex decision situation by constructing a mathematical model of the situation 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» C. Simulation

discuss

39.	The tendency for low-quality cars to drive high quality cars out of the used car market is an example of
A.	Hedging.
B.	Adverse selection.
C.	Portfolio analysis.
D.	Moral hazard.
Answer» B. Adverse selection.

discuss

40.	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» A. Simulation

discuss

41.	______ is an objective assessment of an individual's performance against well-defined benchmarks.
A.	Performance Appraisal
B.	HR Planning
C.	Information for goal identification
D.	None of the above
Answer» A. Performance Appraisal

discuss

42.	what is linked with performance appraisal?
A.	J
B.	Design B Development
C.	Job analysis
D.	None of the above
Answer» C. Job analysis

discuss

43.	which of the following is an alternate term used for performance appraisal?
A.	Quality and quantity of output
B.	Job knowledge
C.	Employee assessment
D.	None of the above
Answer» C. Employee assessment

discuss

44.	Match the following general applications of performance assessment with their specific purposes 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» B. I-B, II-C, III-D, IV-A

discuss

45.	Which of these is the main purpose of employee assessment?
A.	Making correct decisions
B.	To effect promotions based on competence and performance
C.	Establish job expectations
D.	None of the above
Answer» B. To effect promotions based on competence and performance

discuss

46.	How performance appraisal can contribute to a firm's competitive advantage?
A.	Ensures legal compliances
B.	Minimizing job dissatisfaction and turnover
C.	Improves performance
D.	All of the above
Answer» D. All of the above

discuss

47.	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» D. All of the above

discuss

48.	Successful defenders use performance appraisal for identifying ____________.
A.	Staffing needs
B.	Job behaviour
C.	Training needs
D.	None of the above
Answer» C. Training needs

discuss

49.	Analyzers tend to emphasis both ______ and _______ and employee extensive training programmes.
A.	Skill building and skill acquisition
B.	Current performance and past performance
C.	Strategy a
D.	behaviour
Answer» A. Skill building and skill acquisition

discuss

50.	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» C. Current performance with past performance

discuss

51.	which of the following cannot be a reason of unfavorable direct materials price variance?
A.	Sudden rise in price of materials
B.	Quality of materials purchased
C.	Appointment of inexperienc
D.	workers D Inefficient standard setting
Answer» C. Appointment of inexperienc

discuss

52.	Which of the following is not likely to be a reason of unfavorable direct labor efficiency variance?
A.	Increase in direct materials prices
B.	Lack of proper supervision
C.	Frequent break downs during production process
D.	Use of old, outdated or faulty equipment
Answer» A. Increase in direct materials prices

discuss

53.	Question Selling price per tonne is Rs. 69.50, variable cost per tonne is Rs. 35.50 and fixed cost is Rs. 18, 02,000. Find out the BEP in units
A.	49000
B.	51000
C.	53000
D.	55000
Answer» C. 53000

discuss ⁽¹⁾

54.	Labour Efficiency Standards are decided by considering following factor(s)
A.	Records of past performance
B.	Time & Motion Study
C.	Trial Runs
D.	All of the above
Answer» D. All of the above

discuss

55.	A good _____ system will not punish the workers for the matters beyond the control of the workers.
A.	Wage payment
B.	Appraisal
C.	Promotion
D.	none of the above
Answer» A. Wage payment

discuss

56.	________ 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» B. Fixed assets

discuss

57.	--------------- Following is (are) called the element(s) of Cost
A.	Material
B.	Labour
C.	Expenses
D.	All of the above
Answer» D. All of the above

discuss

58.	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» D. All of the above

discuss

59.	__________ 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» A. Financial

discuss

60.	Which of the following cannot be a reason of unfavorable direct materials quantity variance?
A.	Unmotivated workers
B.	Lack of supervision
C.	Frequent power failures
D.	Uneconomical order size
Answer» D. Uneconomical order size

discuss

61.	Which of the following is not likely to be a reason of unfavorable direct labor rate variance?
A.	Poor estimates while setting direct labor standards
B.	An increase in labor rates and overtime premium
C.	Frequent break downs
D.	Assignment of easy tasks to highly skilled workers
Answer» C. Frequent break downs

discuss

62.	Standard Costing specifically relates to the function of
A.	Finance
B.	Production
C.	Quality
D.	None of the above
Answer» B. Production

discuss

63.	Cost Accounting restrict itself with _____ transactions
A.	Financial
B.	Spot
C.	Historical
D.	Administrative
Answer» C. Historical

discuss

64.	In Cash budget, Non- operating cash inflow include(s)
A.	Receipt of loan/borrowings
B.	Issue of shares
C.	Sale of fix
D.	assets (D) All of the above
Answer» D. assets (D) All of the above

discuss

65.	Sales Budget is a forecast expressed in
A.	Quantity
B.	Money
C.	Both (A) a
D.	(B) (D) None of the above
Answer» C. Both (A) a

discuss

66.	Following is used as tool for Cost Control
A.	Marginal cost
B.	Historical cost
C.	Standa
D.	cost (D) All of the above
Answer» C. Standa

discuss

67.	The term management accounting was first coined in
A.	1960
B.	1950
C.	1945
D.	1955
Answer» B. 1950

discuss

68.	Management accounting is 1) Subjective 2) Objective
A.	Only 1
B.	Only 2
C.	Both 1 a
D.	2 (D) None of the above
Answer» A. Only 1

discuss

69.	The use of management accounting is
A.	Optional
B.	Compulsory
C.	Legally obligatory
D.	Compulsory to some and optional to others
Answer» A. Optional

discuss

70.	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» D. 1, 2, 3

discuss ⁽¹⁾

71.	Who coined the concept of management accounting?
A.	R.N Anthony
B.	James H. Bliss
C.	J. Batty
D.	American Accounting Association
Answer» B. James H. Bliss

discuss

72.	The definition ‘Management Accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and the day-to-day operation of an undertaking.’
A.	Anglo –American Council on Productivity
B.	AICPA
C.	Robert N. Anthony
D.	All of the above
Answer» A. Anglo –American Council on Productivity

discuss

73.	During the month of December actual direct labor cost amounted to Rs. 39,550, the standard direct labor rate was Rs.10 per hour and the direct labor rate variance amounted toRs.450 favorable. The actual direct labor hours worked was:
A.	3,955 hours
B.	4,000 hours
C.	3,910 hours
D.	4,500 hours
Answer» B. 4,000 hours

discuss ⁽¹⁾

74.	Responsibility centres are departments or organizational functions whose performance is the direct responsibility of specific managers. One type of responsibility centre is a revenue centre, which is responsible for
A.	Investments and costs
B.	sales and profits
C.	profits
D.	sales
Answer» D. sales

discuss

75.	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» B. correct identification of the blame for below budget performance

discuss

76.	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» D. keeping bad news from the managing director

discuss

77.	What would be the most likely cause of an unfavourable labour rate variance together with a favourable labour efficiency variance?
A.	The employment of more highly skilled staff than budgeted
B.	Poor wage negotiation by the Human Resources manager
C.	The employment of less well-train
D.	staff than in
Answer» A. The employment of more highly skilled staff than budgeted

discuss

78.	A budgeting process which demands each manager to justify his entire budget in detail from beginning is
A.	Functional budget
B.	Master budget
C.	Zero base budgeting
D.	none of the above
Answer» C. Zero base budgeting

discuss

79.	________ is the first step of budgetary system and all other budgets depends on it.
A.	Cost budget
B.	Sales budget
C.	Production budget
D.	None of the above
Answer» B. Sales budget

discuss

80.	__________ contains the picture of total plans during the budget period and it comprises information relating to sales, profit, cost, production etc.
A.	Master budget
B.	Functional budget
C.	Cost budget
D.	None of the above
Answer» A. Master budget

discuss

81.	Budgetary control system acts as a friend, philosopher and guide to the…
A.	Management
B.	Share holders
C.	Creditors
D.	Employees
Answer» A. Management

discuss

82.	Budgetary control facilitates easy introduction of the…
A.	Marginal costing
B.	Ratio analysis
C.	Standa
D.	costing D) Subjective matter
Answer» C. Standa

discuss

83.	Key factor is also known as…
A.	Limiting factor
B.	Governing factor
C.	Principal factor
D.	All
Answer» D. All

discuss

84.	The responsibility accounting stresses on _________
A.	Decentralization
B.	Centralization
C.	Both (a) & (b)
D.	None of these
Answer» A. Decentralization

discuss

85.	In responsibility accounting system…
A.	Budgets are prepared
B.	Actual performance is recorded
C.	The performance is report
D.	All of the above
Answer» D. All of the above

discuss

86.	The responsibility accounting emphasizes the performance of ____
A.	System
B.	Men
C.	Both
D.	None of these
Answer» B. Men

discuss

87.	The responsibility accounting is also called…
A.	Profitability accounting
B.	Activity accounting
C.	Both
D.	None of these
Answer» C. Both

discuss

88.	The responsibility accounting is the part of …
A.	Financial accounting
B.	Management accounting
C.	Mechaniz
D.	accounting D) none of these
Answer» B. Management accounting

discuss

89.	The responsibility accounting is a controlling tool for…
A.	Top‐level management
B.	Lower level management
C.	Middle level management
D.	none of these
Answer» A. Top‐level management

discuss

90.	The accounting department in an organization is…
A.	Investment centre
B.	Expense centre
C.	Profit centre
D.	All of the above
Answer» A. Investment centre

discuss

91.	The responsibility accounting is a system by which the responsibility is assigned to the concerned persons…
A.	To increase sales
B.	To control cash
C.	To increase production
D.	All of the above
Answer» B. To control cash

discuss

92.	According to responsibility accounting, the entire organization is divided into various…
A.	Business centre
B.	Profit centre
C.	Responsibility centre
D.	none of these
Answer» C. Responsibility centre

discuss

93.	In responsibility centre, the output is called as…
A.	Revenue
B.	Costs
C.	Both
D.	None
Answer» A. Revenue

discuss

94.	If the responsibility centre gets more revenue from output, then it is called…
A.	Investment centre
B.	Cost centre
C.	Profit centre
D.	Expense centre
Answer» C. Profit centre

discuss

95.	Internal transfer of process at profit _________ of the company
A.	Will not increase the asset
B.	Will increase the asset
C.	Can’t say
D.	Inadequate information
Answer» A. Will not increase the asset

discuss

96.	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» C. Difficult

discuss

97.	Flexible manufacturing systems (FMS) are reported to have a number of benefits. Which is NOT a reported benefit of FMS?
A.	Lead time and throughput time reduction
B.	Increased quality
C.	More flexible than the manufacturing systems they replace
D.	Increased utilisation
Answer» C. More flexible than the manufacturing systems they replace

discuss

98.	The use of Internet-based technology, either to support existing business processes or to create entirely new business opportunities, has become known as what?
A.	E-globalization
B.	E-business
C.	E-value creation
D.	E-process management
Answer» B. E-business

discuss

99.	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» A. Marketing and advertising

discuss

100.	Which one of the following statements is true?
A.	Balanced Scorecards are a feedback mechanism
B.	Balanced Scorecards always have four perspectives
C.	Balanc
D.	Scorecards can be used in Not-for-Profit organisations
Answer» C. Balanc

discuss

100+ Advanced Management Accounting Solved MCQs

The business environmental factors are _________.

The control ratios used by the management to know whether the deviations of the actual performance from the budgeted performance are favourable or unfavourable are __________.

The problems associated with marginal costing are

___________ is not suitable where selling price is determined on the basis of cost-plus method.

Managers utilizes marginal costing for

Which of the following are advantages of marginal costing?

Given production is 1,00,000 units, fixed costs is Rs 2,00,000 Selling price is Rs 10 per unit and variable cost is Rs 6 per unit. Determine profit using technique of marginal costing.

Contribution margin is also known as

Contribution is the difference between

When fixed cost is Rs. 20,000 and Profit volume ratio is 25 per cent, then breakeven point will occur at

Period cost means

If profit-volume ratio is 25 per cent and sales is Rs. 100,000, the variable cost will be

The valuation of stock in marginal costing as compared to absorption costing is

The term standard cost refers to the:

The term budgeted cost refers to the:

……………is concerned with providing information to management for taking managerial decisions.

Which among the following is not a management accounting technique?

The essence of marginal costing is that ……………… cost is considered on the whole as separate.

A document that records the standard cost of a single unit of product is known as:

Following is used as tool for Cost Control

Which phrase best describes the current role of the managerial accountant?

In comparison to the traditional manufacturing environment, overhead costs in a JIT environment all the following are true except

As production increases within the relevant range,

Which of the following statements regarding graphs of fixed and variable costs is true?

All of the following statements regarding budgeting is true except

A 'direct' cost is a cost that is classified by:

Which of the following costs is not capitalized as inventory?

A management concept under which all managers and employees at all stages of company operations strive toward higher standards and a reduced number of defective units are called:

Which of the following is a correct formula for computing direct materials price variance?

A favorable direct materials price variance occurs when:

The “standard hours allowed” or “standard quantity allowed” is equal to:

During the month of January, the standard cost of actual hours worked amounted to Rs.25, 000, the standard direct labor rate was Rs.10 per hour and the direct labor efficiency variance amounted to Rs.1, 000 favorable. The standard hours allowed for actual production were:

Which one of the following does measure risk?

A situation in which a decision maker knows all of the possible outcomes of a decision and also knows the probability associated with each outcome is referred to as

A situation in which a decision maker must choose between strategies that have more than one possible outcome when the probability of each outcome is unknown is referred to as

Circumstances that influence the profitability of a decision are referred to as

The analysis of a complex decision situation by constructing a mathematical model of the situation and then performing a large number of iterations in order to determine the probability distribution of outcomes is called

The tendency for low-quality cars to drive high quality cars out of the used car market is an example of

Which of the following is a way to deal with decision making under uncertainty?

______ is an objective assessment of an individual's performance against well-defined benchmarks.

what is linked with performance appraisal?

which of the following is an alternate term used for performance appraisal?

Which of these is the main purpose of employee assessment?

How performance appraisal can contribute to a firm's competitive advantage?

From the strategic point of view, in which three categories can an organisation, be grouped?

Successful defenders use performance appraisal for identifying ____________.

Analyzers tend to emphasis both ______ and _______ and employee extensive training programmes.

What do successful analyzers tend to examine?

which of the following cannot be a reason of unfavorable direct materials price variance?

Which of the following is not likely to be a reason of unfavorable direct labor efficiency variance?

Question Selling price per tonne is Rs. 69.50, variable cost per tonne is Rs. 35.50 and fixed cost is Rs. 18, 02,000. Find out the BEP in units

Labour Efficiency Standards are decided by considering following factor(s)

A good _____ system will not punish the workers for the matters beyond the control of the workers.

________ do not give the returns during the same period during which they are paid for

--------------- Following is (are) called the element(s) of Cost

The cause(s) of idle time can be analysed as

__________ Accounting becomes a source of information for Management Accounting.

Which of the following cannot be a reason of unfavorable direct materials quantity variance?

Which of the following is not likely to be a reason of unfavorable direct labor rate variance?

Standard Costing specifically relates to the function of

Cost Accounting restrict itself with _____ transactions

In Cash budget, Non- operating cash inflow include(s)

Sales Budget is a forecast expressed in

Following is used as tool for Cost Control

The term management accounting was first coined in

Management accounting is 1) Subjective 2) Objective

The use of management accounting is

The management accounting can be stated an extension of 1) Cost Accounting 2 ) Financial Accounting 3) Responsibility Accounting

Who coined the concept of management accounting?

The definition ‘Management Accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and the day-to-day operation of an undertaking.’

During the month of December actual direct labor cost amounted to Rs. 39,550, the standard direct labor rate was Rs.10 per hour and the direct labor rate variance amounted toRs.450 favorable. The actual direct labor hours worked was:

Responsibility centres are departments or organizational functions whose performance is the direct responsibility of specific managers. One type of responsibility centre is a revenue centre, which is responsible for

Key motivational factors in budgeting do not include

Which of the following does not help to minimize the problems encountered in budgeting?

What would be the most likely cause of an unfavourable labour rate variance together with a favourable labour efficiency variance?

A budgeting process which demands each manager to justify his entire budget in detail from beginning is

________ is the first step of budgetary system and all other budgets depends on it.

__________ contains the picture of total plans during the budget period and it comprises information relating to sales, profit, cost, production etc.

Budgetary control system acts as a friend, philosopher and guide to the…

Analyzers tend to emphasis both and _ and employee extensive training programmes.