MCQ Management Accounting 1

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1. FAR stands for _______________ (in the context of Indian Railways) *

1 point

Fixed Asset Register

Full Asset Register

Fixed Annual Register

First Academy Railways

2. IGFRS stands for Indian Government_______________ (Clue: Accrual Accounting) *

1 point

Financial Rules & Standards

Financial Reporting System

Financial Reporting Standards

Final Reporting System

3. CWIP stands for _______________ (Indian Railways Context) *

1 point

Capital Works In Progress

Current Works In Progress

Capital Works In Priority

Current Works in Priority

4. Management Accountant can be viewed as ________________ *

1 point

Market Oriented Accounting

Management Oriented Accounting

Accountant Oriented Accounting

None of these

5. _________ is the language of Business which is used to Communicate the financial information *

1 point

Accounting

Marketing

Profit

Pricing

6. Management Accounting term first coined in the year ____________ *

1 point

1940

1950

1960

1970

7. Which is the sub field of Accounting ? *

1 point

Management Accounting

Cost Accounting

Financial Accounting

All of the above

8. The main object of Management Accounting is ________ *

1 point

To maintain the Accounting records

To ascertain the Debtors and the Creditors of the Firm

Analyse and Interpret the results of Financial Accounts

To record all the Business Transactions

9. The object of Management Accounting to help ___________ to take decisions *

1 point

Management

Investors

Creditors

Financial Institutions

10. Management Accounting assists the Management in _________ *

1 point

Planning the operations

Directing the operations

Controlling the operations

All of the above

11. The scope of Management Accounting includes _______ *

1 point

Budgeting and forecasting

Internal Audit & Tax accounting

Financial & cost Accounting

All of the above

12. Goodwill is one of the __________ Assets *

1 point

Current

Tangible

Intangible

Liquid

13. The concept of Management Accounting was introduced by _________ *

1 point

Arthur Anderson

James H Bliss

William Beaver

Herman Bevis

14. Salaries expenses of a Firm is one of the _____ expenses *

1 point

Direct

Indirect

Capital

Revenue

15. Wealth maximisation is a _________ concept *

1 point

Short term

Temporary

Long term

outdated

16. The use of Management Accounting is ________ *

1 point

Mandatory

Compulsory

Most essential

Optional

17. Which of the following are tools of Management Accounting A. Standard Costing B. Decision Accounting C. Human Resource Accounting D. Budgetary Control *

1 point

A, C & D

A, B & D

A, B, C & D

A, B & C

18. Management Accounting deals with __________ *

1 point

Qualitative information

Quantitative information

Both Qualitative and Quantitative

None of the above

19. In Management Accounting, an emphasis and focus must be _____ *

1 point

Past oriented

Future oriented

Bank oriented

Communication oriented

20. Which of the following is the function of Management Accountant *

1 point

Interpret the requisite operations

Supervise all matters relating to Taxation

Evaluate the various policies & programs

All of the above

21. PERT stands for __________ (in the context of Management Accounting) *

1 point

Program Evaluation Review Technique

Program Evaluation Review Trends

Periodical Evaluation Review Trends

Periodical Evaluation Review Technique

22. CPM stands for ____________ ( in the context of Management Accounting) *

1 point

Computer Path Method

Critical Program Method

Critical Path Method

Computer Program Method

23. PERT means concise visualisation of all the individual tasks or operations to complete a given project. The individual tasks are divided into ____ parts *

1 point

Two

Three

Four

Five

24. PERT formulae is _________ *

1 point

TO + (4 x TP) + TM / 6

TO + TP + TM / 3

TO + (2 x TP) + TM / 4

TO + (4 x TM) + TP / 6

25. PERT & CPM consists of ______ Estimates and ________ Estimates respectively *

1 point

3 & 1

1 & 3

2 & 2

3 & 5

26. PERT & CPM has _______ types of activity relationships and _________ types of activity relationships respectively *

1 point

1 & 4

2 & 2

3 & 5

4 & 2

27. LCC stands for ___________ ( in the context of Management Accounting) *

1 point

Liberal Cycle of Costing

Life Cycle of Costing

Limited Cycle of Costing

Liability Cycle of Costing

28. LCC also called as _____________ *

1 point

Cradle to Grave costing

Womb to Tomb costing

Whole Life Cost

All of the above

29. LCC does not include the following one *

1 point

Purchase price

Installation cost

maintenance cost

Depreciation

30. __________ costing covers the sum of all Recurring costs (Revenue) and all Non recurring costs (capital) over the full life period of a physical asset *

1 point

Absorption

Life Cycle

Historical

Standard

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