Advanced Management Accounting Online MCQ Practice Set

Question: ___ Accounting becomes a source of information for Management Accounting.

Question: ___ contains the picture of total plans during the budget period and it Comprises information relating to sales, profit, cost, production etc.

Question: ___ do not give the returns during the same period during which they are paid for

Question: ___ Following is (are) called the element(s) of Cost

Question: ___ is an objective assessment of an individual’s performance against well-definedbenchmarks.

Question: ___ is concerned with providing information to management for taking Managerial Decisions.

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

Question: ___ is the first step of budgetary system and all other budgets depends on it.

Question: A ‘direct’ cost is a cost that is classified by:

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

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

Question: A favorable direct materials price variance occurs when:

Question: A good ___ system will not punish the workers for the matters beyond the control of the workers.

Question: 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:

Question: 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

Question: 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

Question: According to responsibility accounting, the entire organization is divided into various ___

Question: All of the following statements regarding budgeting is true except

Question: Analyzers tend to emphasis both ___ and ___ and employee extensive trainingprogrammes.

Question: As production increases within the relevant range,