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)
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)
Description : Management accounting is (i) Subjective (ii) Objective A. Only (i) B. Only (ii) C. Both (i) and (ii) D. None 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
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.
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
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
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
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
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
Description : Management accountancy is a structure for A. Costing B. Accounting C. Decision maki
Last Answer : C. Decision maki
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)
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)
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
Description : The term management accounting was first coined in A. 1960 B. 1950 C. 1945 D. 1955
Last Answer : B. 1950
Description : ________ Accounting becomes a source of information for Management Accounting. A. Financial B. Cost C. Both (A) and (B) D. None of the above
Last Answer : A. Financial
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
Description : Which of the following statements are not true about budget, budgeting & budgetary control? A. Budgetary control works on the basis of best option B. Budget is one of the important mediums of communication C. Budgeting develops the quality of objectivity in planning D. None of the above
Last Answer : D. None of the above
Description : Which of the following statements is true about stress management A. Stress management is learning about the connection between mind and body B. Stress management helps us control our health in a positive sense C. ... management teaches us to avoid all kinds of stress D. Only A' & B' are right
Last Answer : D. Only ‘A’ & ‘B’ are right
Description : Which of the following is NOT a purpose of a marketing plan? A)it specifies how resources are to be allocated B)it co-ordinates marketing and production activities C)it assigns responsibilities, tasks and timing D)it assists in management
Last Answer : B)it co-ordinates marketing and production activities
Description : The Balance of Payment is an _________ system. A. Accounting B. Social C. Environmental D. Tourist
Last Answer : A. Accounting
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
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
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
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
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
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
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
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
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.
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.
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
Description : Consider the following Statements: Indicative Planning is a feature of Mixed Economy'. Perspective Planning is used by socialist countries where each and every aspect of planning is controlled by the State. Which of the above Statement( ... B. B Only 2 C. C Both 1 and 2 D. D Neither 1 nor 2
Last Answer : A. A Only 1
Description : Malcolm Baldrige national quality award is for (MBNQA) A. Total Quality Management B. International Standard Organization C. Total Productive Maintenance D. Total Quality Control
Last Answer : A. Total Quality Management
Description : Economic planning is in? A. Union list B. State list C. Concurrent list D. Not any specified list E. None of these
Last Answer : C. Concurrent list
Description : When was the planning commission established? A. 10th March 1950 B. 15th March 1950 C. 20th March 1950 D. 16th March 1951 E. None of these
Last Answer : B. 15th March 1950
Description : The Planning Commission of India was constituted in the year? A. 1942 B. 1947 C. 1950 D. 1955 E. None of these
Last Answer : C. 1950
Description : The Planning commission of India is? A. A constitutional body B. An independent and autonomous body C. A statutory body D. A non-statutory body E. None of these
Last Answer : D. A non-statutory body
Description : Who fixes the poverty line? A. Government B. Lok Sabha C. Rajya Sabha D. Planning Commission
Last Answer : D. Planning Commission
Description : Planning Commission was constituted on? A. 15th March, 1948 B. 15th March, 1949 C. 15th March, 1950 D. 15th March, 1951
Last Answer : C. 15th March, 1950
Description : The concept of Economic Planning in India is derived from? A. USA B. UK C. Australia D. Russia
Last Answer : D. Russia
Description : Economic Planning is an essential feature of: A. Capitalist economy B. Socialist Economy C. Mixed Economy D. Dual Economy
Last Answer : B. Socialist Economy
Description : Which of the following estimates National Income in India: A. Central Statistical Organisation B. National Income Committee C. Planning Commission D. Reserve bank of India
Last Answer : A. Central Statistical Organisation
Description : The objectives of Cash Flow Statement are (i) Analysis of cash position (ii) Short-term cash planning (iii) Evaluation of liquidity (iv) Comparison of operating Performance A. Both (i) and (ii) B. Both (i) and (iii) C. Both (ii) and (iv) D. (i), (ii), (iii), (iv)
Last Answer : D. (i), (ii), (iii), (iv)
Description : Strategic planning in service organizations is all about: A. Where the organization is heading B. Where the organization should be heading. C. How the organization needs to change in order to be more effective D. What the organization intends to accomplish for the community
Last Answer : C. How the organization needs to change in order to be more effective D. What the organization intends to accomplish for the community
Description : The biggest challenge in planning for change is: A. Who will be affected by the change B. Anticipating its unintended, unexpected outcomes C. Deciding who should implement the change D. Communicating why the change is needed
Last Answer : B. Anticipating its unintended, unexpected outcomes
Description : The work of setting up objectives for selling activities, determining and scheduling the steps necessary to achieve these objectives is known as…………. A. Selling B. Sales policy C. Sales programme D. Sales planning
Last Answer : D. Sales planning
Description : Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section ... the indorsement in blank to an indorsement in full (Section 49) D. None of the above.
Last Answer : C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49)
Description : The most likely explanation why the auditor's examination cannot reasonably be expected to bring all illegal acts by the client to the auditor's attention is that a. Illegal acts are perpetrated by ... testing. d. Illegal acts may be perpetrated by the only person in the client's organization
Last Answer : Illegal acts by clients often relate to operating aspects rather than accounting aspects
Description : Careful management of water catchment areas results in A. more desertification B. more deforestation C. less waste of water D. more waste of water
Last Answer : C. less waste of water