________ Accounting becomes a source of information for Management Accounting. A. Financial B. Cost C. Both (A) and (B) D. None of the above

________ Accounting becomes a source of information for Management Accounting. A. Financial
B. Cost
C. Both (A) and (B)
D. None of the above
by

1 Answer

Answer :

A. Financial
by

Related questions

The management accounting can be stated an extension of (i) Cost Accounting (ii) Financial Accounting (iii) Responsibility Accounting A. Both (i) and (ii) B. Both (i) and (iii) C. Both (ii) and (iii) D. (i), (ii), (iii)

Description : The management accounting can be stated an extension of (i) Cost Accounting (ii) Financial Accounting (iii) Responsibility Accounting A. Both (i) and (ii) B. Both (i) and (iii) C. Both (ii) and (iii) D. (i), (ii), (iii)

Last Answer : D. (i), (ii), (iii)

Management accounting involves A. Preparation of financial statements B. Analysis and interpretation of data C. Recording of transactions D. None of the above

Description : Management accounting involves A. Preparation of financial statements B. Analysis and interpretation of data C. Recording of transactions D. None of the above

Last Answer : B. Analysis and interpretation of data

The basic function of management accounting is to: A. record all business transactions B. interpret the financial data C. assist the management in performing its functions effectively D. None of the above

Description : The basic function of management accounting is to: A. record all business transactions B. interpret the financial data C. assist the management in performing its functions effectively D. None of the above

Last Answer : C. assist the management in performing its functions effectively

Cost accounting mainly helps the management in: A. Earning extra profits B. Providing information to the management for decision-making. C. Fixing process of the products. D. Selling products

Description : Cost accounting mainly helps the management in: A. Earning extra profits B. Providing information to the management for decision-making. C. Fixing process of the products. D. Selling products

Last Answer : B. Providing information to the management for decision-making.

Management accounting deals with A. Quantitative information B. Qualitative information C. Both a and b D. None of the above

Description : Management accounting deals with A. Quantitative information B. Qualitative information C. Both a and b D. None of the above

Last Answer : C. Both a and b

Cash Flow Statement is also known as A. Statement of Changes in Financial Position on Cash basis B. Statement accounting for variation in cash C. Both a and b D. None of the above

Description : Cash Flow Statement is also known as A. Statement of Changes in Financial Position on Cash basis B. Statement accounting for variation in cash C. Both a and b D. None of the above

Last Answer : C. Both a and b

Which of the following is true about management accounting? (i) Management accounting is associated with presentation of accounting data. (ii) Management accounting is extremely sensitive to investors needs. A. Only (i) B. Only (ii) C. Both (i) and (ii) D. None of the above

Description : Which of the following is true about management accounting? (i) Management accounting is associated with presentation of accounting data. (ii) Management accounting is extremely sensitive to investors needs. A. Only (i) B. Only (ii) C. Both (i) and (ii) D. None of the above

Last Answer : A. Only (i)

Management accounting is (i) Subjective (ii) Objective A. Only (i) B. Only (ii) C. Both (i) and (ii) D. None of the above

Description : Management accounting is (i) Subjective (ii) Objective A. Only (i) B. Only (ii) C. Both (i) and (ii) D. None of the above

Last Answer : A. Only (i)

When the concept of ratio is defined in respected to the items shown in the financial statements, it is termed as A. Accounting ratio B. Financial ratio C. Costing ratio D. None of the above

Description : When the concept of ratio is defined in respected to the items shown in the financial statements, it is termed as A. Accounting ratio B. Financial ratio C. Costing ratio D. None of the above

Last Answer : A. Accounting ratio

Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of payment is a source- and uses of funds statement that reflects changes in assets, liabilities and net worth during a specified period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3

Description : Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of ... period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3

Last Answer : D. 1, 2 and 3

Management accounting provides invaluable services to management in performing: A. All management functions B. Coordination functions C. Controlling functions D. Directing function

Description : Management accounting provides invaluable services to management in performing: A. All management functions B. Coordination functions C. Controlling functions D. Directing function

Last Answer : A. All management functions

Who coined the concept of management accounting? A. R.N Anthony B. James H. Bliss C. J. Batty D. American Accounting Association

Description : Who coined the concept of management accounting? A. R.N Anthony B. James H. Bliss C. J. Batty D. American Accounting Association

Last Answer : B. James H. Bliss

Management accountancy is a structure for A. Costing B. Accounting C. Decision maki

Description : Management accountancy is a structure for A. Costing B. Accounting C. Decision maki

Last Answer : C. Decision maki

Management accounting is related with (i) The problem of choice making (ii) Recording of transactions (iii) Cause and effect relationships A. (i) and (ii) B. (ii) and (iii) C. (i) and (iii) D. All are false

Description : Management accounting is related with (i) The problem of choice making (ii) Recording of transactions (iii) Cause and effect relationships A. (i) and (ii) B. (ii) and (iii) C. (i) and (iii) D. All are false

Last Answer : C. (i) and (iii)

Which of the following are tools of management accounting? (i) Decision accounting (ii) Standard costing (iii) Budgetary control (iv) Human Resources Accounting A. (i), (ii) and (iii) B. (i), (iii) and (iv) C. (i),(ii) and (iii) D. (i), (ii), (iii), (iv)

Description : Which of the following are tools of management accounting? (i) Decision accounting (ii) Standard costing (iii) Budgetary control (iv) Human Resources Accounting A. (i), (ii) and (iii) B. (i), (iii) and (iv) C. (i),(ii) and (iii) D. (i), (ii), (iii), (iv)

Last Answer : C. (i),(ii) and (iii)

Management accounting assists the management A. Only in control B. Only in direction C. Only in planning D. In planning, direction and control

Description : Management accounting assists the management A. Only in control B. Only in direction C. Only in planning D. In planning, direction and control

Last Answer : D. In planning, direction and contro

The use of management accounting is A. Optional B. Compulsory C. Legally obligatory D. Compulsory to some and optional to others

Description : The use of management accounting is A. Optional B. Compulsory C. Legally obligatory D. Compulsory to some and optional to others

Last Answer : A. Optional

The term management accounting was first coined in A. 1960 B. 1950 C. 1945 D. 1955

Description : The term management accounting was first coined in A. 1960 B. 1950 C. 1945 D. 1955

Last Answer : B. 1950

In responsibility cost accounting the costs in focus are A. Controllable costs B. Uncontrollable costs C. Both a and b D. None of the above

Description : In responsibility cost accounting the costs in focus are A. Controllable costs B. Uncontrollable costs C. Both a and b D. None of the above

Last Answer : A. Controllable costs

Marketing management is ________. A. Managing the marketing process B. Monitoring the profitability of the company’s products and services C. Selecting target markets D. Developing marketing strategies to move the company forward E. The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value

Description : Marketing management is ________. A. Managing the marketing process B. Monitoring the profitability of the company's products and services C. Selecting target markets D. Developing ... , keeping, and growing customers through creating, delivering, and communicating superior customer value

Last Answer : E. The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value

Which one of the following is an example of management expectations from the independent auditors? a. An expert providing a written communication as the product of the engagement. b. Individuals who perform day-to-day accounting functions on behalf of the company. C. AN active participant in management decision-making. d. An internal source of expertise on financial and other matters

Description : Which one of the following is an example of management expectations from the independent auditors? a. An expert providing a written communication as the product of the engagement. b. Individuals who ... in management decision-making. d. An internal source of expertise on financial and other matters

Last Answer : An expert providing a written communication as the product of the engagement

Which of the following statements are true? A. Contribution doesn’t include fixed cost whereas profit includes fixed cost. B. Contribution is not based on the concept of marginal cost. C. Contribution above breakeven point becomes profit. D. All of the above

Description : Which of the following statements are true? A. Contribution doesn’t include fixed cost whereas profit includes fixed cost. B. Contribution is not based on the concept of marginal cost. C. Contribution above breakeven point becomes profit. D. All of the above

Last Answer : C. Contribution above breakeven point becomes profit.

An attestation engagement is one in which a CPA is engaged to: a. Assemble prospective financial statements based on the assumptions of the entity's management without expressing any Testify as an expert witness in accounting, auditing or tax matters, given certain stipulated facts. b. assurance. c. Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party. d. Provide tax advice or prepare a tax return based on financial information the CPA has not audited or reviewed.

Description : An attestation engagement is one in which a CPA is engaged to: a. Assemble prospective financial statements based on the assumptions of the entity's management without expressing any Testify as an expert ... or prepare a tax return based on financial information the CPA has not audited or reviewed.

Last Answer : Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party

Which of the following is an example of an assurance engagement?a. Management advisory services b. Reporting on financial statements prepared using other comprehensive basis of accounting. c. compilation of financial information d. preparation of tax returns

Description : Which of the following is an example of an assurance engagement? a. Management advisory services b. Reporting on financial statements prepared using other comprehensive basis of accounting. c. compilation of financial information d. preparation of tax returns

Last Answer : Reporting on financial statements prepared using other comprehensive basis of accounting.

________ is the first step of budgetary system and all other budgets depends on it. A. Cost budget B. Sales budget C. Production budget D. None of the above

Description : ________ is the first step of budgetary system and all other budgets depends on it. A. Cost budget B. Sales budget C. Production budget D. None of the above

Last Answer : B. Sales budget

Intermediaries sponsor their own brands because ________. A. private-label brands sell at higher volumes B. private-label brands are recognizable to the consumer as being widely available from many different retailers C. private-label brands are always of better quality than national brands D. private-label brands can be sold at lower prices yet generate a higher profit margin because of their lower cost structure

Description : Intermediaries sponsor their own brands because ________. A. private-label brands sell at higher volumes B. private-label brands are recognizable to the consumer as being widely available from many ... sold at lower prices yet generate a higher profit margin because of their lower cost structure

Last Answer : D. private-label brands can be sold at lower prices yet generate a higher profit margin because of their lower cost structure

Consumers ________ low-cost products or items they buy infrequently. A. Prefer the lowest total cost of ownership of B. Remember prices of C. Are ambivalent to prices of D. Are more price sensitive to E. Are less price sensitive to

Description : Consumers ________ low-cost products or items they buy infrequently. A. Prefer the lowest total cost of ownership of B. Remember prices of C. Are ambivalent to prices of D. Are more price sensitive to E. Are less price sensitive to

Last Answer : E. Are less price sensitive to

The corrective actions after the analysis of variances has to be taken by A. Cost accountant B. Management C. Both a and b D. None of the above

Description : The corrective actions after the analysis of variances has to be taken by A. Cost accountant B. Management C. Both a and b D. None of the above

Last Answer : B. Management

The benefits of marketing channels are……….. A. Cost saving B. Time saving C. Financial support given D. All of above

Description : The benefits of marketing channels are……….. A. Cost saving B. Time saving C. Financial support given D. All of above

Last Answer : D. All of above

Similarities between cost, financial and management accounting?

Description : Similarities between cost, financial and management accounting?

Last Answer : A chart of accounts provides a listing

Double entry system is used in which type of accounting a) Cost b)Financial c) Management d) All

Description : Double entry system is used in which type of accounting a) Cost b)Financial c) Management d) All

Last Answer : b)Financial

The Balance of Payment is an _________ system. A. Accounting B. Social C. Environmental D. Tourist

Description : The Balance of Payment is an _________ system. A. Accounting B. Social C. Environmental D. Tourist

Last Answer : A. Accounting

GDP is the money value of final goods and serviced produced in the………….of a country during an accounting year A. Domestic territory B. Political territory C. Specific area D. FTZ area

Description : GDP is the money value of final goods and serviced produced in the………….of a country during an accounting year A. Domestic territory B. Political territory C. Specific area D. FTZ area

Last Answer : A. Domestic territory

Which of the following statements are true about responsibility accounting? A. Responsibility accounting results in inter-departmental conflicts B. In responsibility center more focus is paid on products, processes or jobs C. No focus is paid on controlling costs D. None of the above

Description : Which of the following statements are true about responsibility accounting? A. Responsibility accounting results in inter-departmental conflicts B. In responsibility center more focus is paid on products, processes or jobs C. No focus is paid on controlling costs D. None of the above

Last Answer : A. Responsibility accounting results in inter-departmental conflicts

As per Accounting Standard-3, Cash Flow is classified into A. Operating activities and investing activities B. Investing activities and financing activities C. Operating activities and financing activities D. Operating activities, financing activities and investing activities

Description : As per Accounting Standard-3, Cash Flow is classified into A. Operating activities and investing activities B. Investing activities and financing activities C. Operating activities and financing activities D. Operating activities, financing activities and investing activities

Last Answer : D. Operating activities, financing activities and investing activities

Cash Flow Statement is based upon A. Cash basis of accounting B. Accrual basis of accounting C. Credit basis of accounting D. None of the above

Description : Cash Flow Statement is based upon A. Cash basis of accounting B. Accrual basis of accounting C. Credit basis of accounting D. None of the above

Last Answer : A. Cash basis of accounting

The prime function of accounting is to: A. record economic data B. provide the informational basis for action C. classify and record business transactions D. attain non-economic goals.

Description : The prime function of accounting is to: A. record economic data B. provide the informational basis for action C. classify and record business transactions D. attain non-economic goals.

Last Answer : B. provide the informational basis for action

The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal B. Integrity to society. C. Change the way in which ethics is taught to students. D. Create more ethics standards by which corporate professionals must operate. E. Increase the workload for accounting students

Description : The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal B. Integrity to society. C. Change ... standards by which corporate professionals must operate. E. Increase the workload for accounting students

Last Answer : C. Change the way in which ethics is taught to students.

The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal Integrity to society. B. Change the way in which ethics is taught to students. C. Create more ethics standards by which corporate professionals must operate. D. Increase the workload for accounting students.

Description : The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal Integrity to society. B. Change ... standards by which corporate professionals must operate. D. Increase the workload for accounting students.

Last Answer : C. Create more ethics standards by which corporate professionals must operate.

The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the directions of the person delivering them, then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity

Description : The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the ... then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity

Last Answer : B. Bailment

Process of managing upstream and downstream of final goods, flow of raw materials and information about resellers and final consumers is classified as A. marketing logistics network B. supply chain management C. delivery network D. physical distribution network

Description : Process of managing upstream and downstream of final goods, flow of raw materials and information about resellers and final consumers is classified as A. marketing logistics network B. supply chain management C. delivery network D. physical distribution network

Last Answer : B. supply chain management

The process of collecting information about the external marketing environment is A. Environmental management B. Environmental scanning C. Marketing management D. Marketing research

Description : The process of collecting information about the external marketing environment is A. Environmental management B. Environmental scanning C. Marketing management D. Marketing research

Last Answer : B

________ is stated as a budget which is made to change as per the levels of activity attained. A. Fixed budget B. Flexible budget C. Both a and b D. None of the above

Description : ________ is stated as a budget which is made to change as per the levels of activity attained. A. Fixed budget B. Flexible budget C. Both a and b D. None of the above

Last Answer : B. Flexible budget

________ do not give the returns during the same period during which they are paid for A. Intangible assets B. Fixed assets C. Both (A) and (B) D. None of the above

Description : ________ do not give the returns during the same period during which they are paid for A. Intangible assets B. Fixed assets C. Both (A) and (B) D. None of the above

Last Answer : B. Fixed assets

The ________ is an agency to eliminate false and misleading advertising A. FTC B. DOL C. SEBI D. Both (a) and (b)

Description : The ________ is an agency to eliminate false and misleading advertising A. FTC B. DOL C. SEBI D. Both (a) and (b)

Last Answer : A. FTC

Anuj agrees to pay ` 10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes: A. Valid B. Void C. Voidable D. Illegal

Description : Anuj agrees to pay ` 10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes: A. Valid B. Void C. Voidable D. Illegal

Last Answer : B. Void

A/An ________ is a formal evaluation of an organization's financial statements, performed either by an outside accounting firm or by an internal department. (a) Revenue operating budget ; (b) Incident log ; (c) Financial audit ; (d) Balance sheet budget

Description : A/An ________ is a formal evaluation of an organization's financial statements, performed either by an outside accounting firm or by an internal department. (a) Revenue operating budget ; (b) Incident log ; (c) Financial audit ; (d) Balance sheet budget

Last Answer :  (c) Financial audit ;

The breakeven chart helps the management in… A. Forecasting costs and profits B. Cost control C. Long term planning and growth D. All of the above

Description : The breakeven chart helps the management in… A. Forecasting costs and profits B. Cost control C. Long term planning and growth D. All of the above

Last Answer : D. All of the above

______ information can be derived from the financial accounting systems - utilities cost centre a) Plant level b) Plant department level c) System level d) Equipment level

Description : ______ information can be derived from the financial accounting systems - utilities cost centre a) Plant level b) Plant department level c) System level d) Equipment level

Last Answer : plant level

Every ________ poor person in World is an Indian: A. Second B. Third C. Tenth D. Fourth

Description : Every ________ poor person in World is an Indian: A. Second B. Third C. Tenth D. Fourth

Last Answer : C. Tenth