Scdl - Management Accounting

Management Accoutning

Question Paper – 1 LIST OF ATTEMPTED QUESTIONS AND ANSWERS

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Management Accoutning Question

________ system of wage payment is a combination of Halsey system and Gantt system. Correct Answer Diemer Your Answer

Diemer

Multiple Choice Single Answer Question A cheque of Rs.400/- received and deposited into bank on 26th September, was credited in the pass book but was omitted to be entered in the bank book: this error will result in : Correct Answer Difference in the balance as per bank book and as per pass book Your Answer Difference in the trial balance Multiple Choice Single Answer Question Presentation of information to enable managerial decision making' is one of the objects of which of the following Correct Answer Cost Accounting Your Answer

Management Accounting

Multiple Choice Single Answer Question A good purchase system, for materials, prevents production hold-ups due to: Correct Answer Lack of material Your Answer

Excess receipt of material

True/False Question

A cash payment of Rs.1,000/- for traveling expenses has been entered in the books but not debited to traveling A/c. The trial balance will NOT agree. Correct Answer True Your Answer

True

Select The Blank Question Education facility to workers and their children, pension, superannuation fund are examples of ________ incentives. Correct Answer Non-monetary Your Answer

Non-monetary

Multiple Choice Single Answer Question The reporting method used in the costing system should be based on the principle of Correct Answer Management by exception Your Answer

Management by exception

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Management Accoutning

Question Paper – 2 LIST OF ATTEMPTED QUESTIONS AND ANSWERS

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Management Accoutning variance must be further investigated. Correct Answer False Your Answer

True

True/False Question

An item of cost that is direct for one business organisation may be indirect for another business organisation. Correct Answer True Your Answer

True

Multiple Choice Single Answer Question The cost of idle time incurred by employees that is considered normal for the production process should be charged to : Correct Answer Factory overheads Your Answer

Direct labour

Select The Blank Question Since the pass book and the bank book record the ________ transactions, the bank balance as per these books should be equal. Correct Answer Same Your Answer

Same

Multiple Choice Multiple Answer Question The various areas in which uniform costing can be adopted are . . Correct Answer Valuation of inventories , Charging of depreciation , Apportionment of overheads Your Answer Valuation of inventories , Charging of depreciation True/False Question

A business is an activity carried out with the intention of earning the profit. Correct Answer True Your Answer

True

Multiple Choice Single Answer Question With a 10% increase in the selling price and 10% decrease in the physical sales volume, the profit volume ratio will: Page 4 of 7

Management Accoutning

Question Paper – 3 LIST OF ATTEMPTED QUESTIONS AND ANSWERS

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Management Accoutning Select The Blank Question If the firm is operating with zero margin of safety, decline of even a single unit in sales will result in ________. Correct Answer Loss Your Answer

Loss

Select The Blank Question Dividend received on amount invested in shares is an example of ________. Correct Answer non-operating income Your Answer

non-operating income

True/False Question

If the storage cost of inventory increases, then the economic order quantity also increases. Correct Answer False Your Answer

False

True/False Question

Routing the purchase requisition through the purchase department entails unnecessary delay in receiving the required materials. Correct Answer False Your Answer

True

Select The Blank Question The process of recording the business transactions in a defined set of records is referred to as ________. Correct Answer Balance sheet Your Answer

Trading account

True/False Question

The rates at which the depreciation is to be calculated are specified in the Income Tax Act 1961 and The Companies Act, 1956. Correct Answer True Your Answer

True

True/False Question

The effect of price reduction is always reduction in the Page 6 of 7

Management Accoutning

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