Management Accounting - Finance (MCQ) Questions and answers
Dear Readers, Welcome to Management Accounting multiple choice questions and answers with
explanation. These objective type Management Accounting questions are very important for campus placement test, semester exams, job interviews and
competitive exams.
Specially developed for the MBA, BBA, BMS, Bank, CPA, Accounting freshers, Finance freshers and professionals, these model questions are
asked in the online technical test and interview of many companies.
1) Financial control report comes under
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a. Dynamic financial reports
b. Static financial reports
c. Extensive Activity report
d. None of the above
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2) A balance sheet is a form of
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a. Dynamic financial reports
b. Static financial reports
c. Activity reports
d. None of the above
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3) Analytical reports are based on the ______ comparison of results.
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a. Horizontal
b. Vertical
c. Symmetrical
d. None of the above
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4) ___________ are just income statements, wherein the results of one particular year are compared with the findings of past several years.
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a. Subsidiary trend reports
b. Analytical report
c. Activity reports
d. Master trend report
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5) Which of the following is a kind of information report?
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a. Trend reports
b. Analytical report
c. Activity reports
d. All of the above
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6) There are three departments A, B and C in a company, The sales of A, B and C are Rs 3,52,000, Rs 2,88,000 and Rs 1,60,000, respectively. The variable costs of A, B and C are Rs 2,40,000, Rs 1,76,000 and Rs 1,44,000 respectively. The direct fixed costs of A, B and C are Rs 28,000, Rs 22,400 and Rs 12,800. Rank the different departments on basis of relative profitability.
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a. A- Rank 3, B- Rank 1 and C- Rank 2
b. A- Rank 2, B- Rank 1 and C- Rank 3
c. A- Rank 3, B- Rank 2 and C- Rank 1
d. Insufficient data
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7) Volume variance arises when
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a. There is rise in overhead rate per hour
b. There is decline in overhead rate per hour
c. There is decrease or increase in actual output compared to the budgeted output
d. None of the above
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Answer
Explanation
Related Ques
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ANSWER: There is decrease or increase in actual output compared to the budgeted output
Explanation:
No explanation is available for this question!
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8) The type of standard that is best suited for cost control objective is
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a. Normal standard
b. Basic standard
c. Expected standard
d. Ideal standard
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9) The corrective actions after the analysis of variances has to be taken by
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a. Cost accountant
b. Management
c. Both a and b
d. None of the above
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10) When actual price is higher or lower than the standard price, then it is
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a. Sales price variance
b. Sales volume variance
c. Sales mix variance
d. Sales quantity variance
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