Fundamentals Of Management Accounting - MCQs with answers

Fundamentals Of Management Accounting - MCQs with answers

1. The term management accounting was first coined in

a) 1960
b) 1950
c) 1945
d) 1955

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2. Management accounting is

A) Subjective
B) Objective

a) Only A
b) Only B
c) Both A and B
d) None of the above

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3. The use of management accounting is

a) Optional
b) Compulsory
c) Legally obligatory
d) Compulsory to some and optional to others

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4. The management accounting can be stated an extension of

A) Cost Accounting
B) Financial Accounting
C) Responsibility Accounting

a) Both A and B
b) Both A and C
c) Both B and C
d) A, B, C

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5. Which of the following is true about management accounting?

A) Management accounting is associated with presentation of accounting data.
B) Management accounting is extremely sensitive to investors needs.

a) Only A
b) Only B
c) Both A and B
d) None of the above

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6. Management accounting assists the management

a) Only in control
b) Only in direction
c) Only in planning
d) In planning, direction and control

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7. Which of the following are tools of management accounting?

A) Decision accounting
B) Standard costing
C) Budgetary control
D) Human Resources Accounting

a) A, B and D
b) A, C and D
c) A, B and C
d) A, B , C, D

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8. Management accounting is related with

a) The problem of choice making
b) Recording of transactions
c) Cause and effect relationships

a) A and B
b) B and C
c) A and C
d) All are false

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9. Management accountancy is a structure for

a) Costing
b) Accounting
c) Decision making
d) Management

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10. Who coined the concept of management accounting?

a) R.N Anthony
b) James H. Bliss
c) J. Batty
d) American Accounting Association

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11. Which of the following statements are false about management accounting?

A) Management accounting is concerned with historical events.

B) Management accounting is related only with such instances which can be expressed in monetary terms.

C) Management accounting is a part of Financial Management

D) Management accounting information can be disclosed to outsiders.

a) A, B & D
b) A, C & D
c) A,B & C
d) A, B,C,D

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12. Management accounting deals with

a) Quantitative information
b) Qualitative information
c) Both a and b
d) None of the above

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13. Management accounting highlights staff relationship with top management as well as other personnel.

a) True
b) False

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14. 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) Ango-American Council on Productivity
b) AICPA
c) Robert N. Anthony
d) All of the above

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