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 : The variables which cannot be manipulated by the decision maker are called.................... a. Controllable variables b. Uncontrollable variables c. Both a and b d. None of these
Last Answer : b. Uncontrollable variables
Description : The variables which can be manipulated by the decision maker are called.................... a. Controllable variables b. Uncontrollable variables c. Both a and b d. None of these
Last Answer : a. Controllable variables
Description : External factors affecting a business environment also be referred to ___factors. A. controllable. B. uncontrollable. C. relevant. D. global
Last Answer : B. uncontrollable.
Description : Internal factors affecting a business environment also are referred to ____factors. A. controllable. B. uncontrollable factors. C. relevant. D. global.
Last Answer : A. controllable.
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 area of focus on responsibility center is A. Quantum of sales B. Quantum of production C. Optimum utilization of resources D. All of the above
Last Answer : C. Optimum utilization of resources
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 : Uncontrollable costs are the costs which be influenced by the action of a specified member of an undertaking. (a) can not (b) can (c) may or may not (d) must
Last Answer : (a) can not
Description : Corporate social responsibility that extends beyond legal mandates can help meet societal expectations in the absence of A. Statutory devices B. Social tool C. Cost tool and Techniques D. Science tool
Last Answer : A. Statutory devices
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 : Benefits derived from social responsibility include; A. enhanced organizational efficiency B. producing better products C. attracting people who want to work for the firm D. both A & C
Last Answer : D. both A & C
Description : When channel members assume responsibility for one or more of the marketing flows over at least two separate levels of distribution manufacturing and wholesaling, in fact, such systems are synonymous ... vertical marketing systems C. Administered vertical marketing systems D. None of the above
Last Answer : A. Corporate vertical marketing systems
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 : Direct material cost + direct labor cost + other variable costs is equal to… A. Contribution B. Total cost C. Marginal cost D. Sales
Last Answer : A sales forecast is only......
Description : When contribution is positive but equal to fixed cost, A. There is loss equal to fixed costs B. There is loss more than fixed costs C. There will be loss less than fixed costs D. There will be neither profit not loss
Last Answer : D. There will be neither profit not loss
Description : When contribution is negative but less than fixed cost, A. There is loss equal to fixed costs B. There is loss more than fixed costs C. There will be loss less than fixed costs D. All of above are false
Last Answer : C. There will be loss less than fixed costs
Description : Which of the following statements related to Contribution Analysis are ture? A. If contribution is zero, there is loss equal to fixed costs B. If contribution is negative, loss is less than fixed costs ... contribution is positive and more than fixed cost there will be profit. D. All of the above
Last Answer : A. If contribution is zero, there is loss equal to fixed costs
Description : Which of the following statements are true? (a) Marginal costing is not an independent system of costing. (b) In marginal costing all elements of cost are divided into fixed and variable components. (c) In marginal costing fixed ... cost analysis. A. A and B B. B and C C. A and D D. B and D
Last Answer : A. A and B
Description : Marginal cost is computed as A. Prime cost + All Variable overheads B. Direct material + Direct labour + Direct Expenses + All variable overheads C. Total costs – All fixed overheads D. All of the above
Last Answer : A. Prime cost + All Variable overheads
Description : Cost behaviour analysis is a study of how a firm's costs A. relate to competitors' costs B. relate to general price level changes C. respond to changes in activity levels within the company D. respond to changes in the gross national product
Last Answer : C. respond to changes in activity levels within the company
Description : A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing
Last Answer : C. Perceived-value pricing
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
Description : Management accounting deals with A. Quantitative information B. Qualitative information C. Both a and b 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)
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 : In context of net operating profit, which of the following statements are true? A. If all costs are variable, the amount of profit obtained in marginal costing and absorption costing will be same. B. If ... same in absorption costing and marginal costing. C. Both a and b D. None of the above
Description : Which of the following reasons accounts for utilitarianism's dominance among policy makers and administrators? A. It seems obvious that policy questions should be judged by results and consequences. B. Policy experts ... collective or aggregate good. E. All of the above. F. None of the above.
Last Answer : E. All of the above.
Last Answer : E. All of the above
Description : Market –oriented firms focus on: A. Retailers B. Distributors C. Customers D. Wholesalers c
Last Answer : C. Customers
Description : Primary data can be collected through all the four ways except – A. Observation B. Surveys C. Focus group D. Chatting E. Experiments
Last Answer : D. Chatting
Description : The responsibility centers, for control purposes, may be classified into _____ types. A. Five B. Three C. Four D. None of the above
Last Answer : B. Three
Description : Which of the following is responsibility center? A. Expense center B. Profit center C. Investment center D. All of the above
Description : Which of the following does the term Corporate Social Responsibility relate to? A. Environmental practice B. Ethical conduct C. Human rights and employee relations D. Community investment E. All of the above F. None of the above
Description : __________________ standards seek to encourage voluntary commitment to social responsibility. A. ISO 26000 B. AA1000 C. CSR D. OECD
Last Answer : A. ISO 26000
Description : _______________ doctrine places the responsibility of product safety on corporations A. Buyer beware B. Seller beware C. Seller take care D. Buyer and seller take care
Last Answer : C. Seller take care
Description : A ___________________ is a way of measuring, understanding, reporting and ultimately improving an organization’s social and ethical performance. A. Social Audit B. Financial Audit C. Responsibility Audit D. Compulsory Audit
Last Answer : A. Social Audit
Description : The ethical roots of the classical model of corporate social responsibility are found in which statement: A. The idea that the interests of stakeholders are as important as the interests of a corporation' ... C. The ethical imperative to cause no harm. D. The ethical imperative to prevent harm.
Last Answer : B. The free market theory which holds that managers are ethically obliged to ace as much money as possible for their stockholders because to do otherwise would undermine the very foundations of our free society.
Description : The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.
Last Answer : B. The classical model.
Description : Carroll's model of social responsibility includes the social responsibilities categories _____________, ____________, and _____________ plus those at the discretion of the firm. ... ; economic responsibilities D. occupational safety; legal responsibilities; economic responsibilities v
Last Answer : B
Description : Business ethics deals primarily with A. Social responsibility. B. the pricing of products and services. C. moral obligation. D. being unfair to the competition
Last Answer : C. moral obligation.
Description : According to the private property defense of the classical model of corporate social responsibility, managers who use corporate funds for projects that are not directly devoted to maximizing ... . Stockholders in publicly traded corporations are better understood as investors rather than owners.
Last Answer : C. Investors buy their stocks with the hope of maximizing return on their investment. D. Stockholders in publicly traded corporations are better understood as investors rather than owners.
Last Answer : Answer: De Lorean
Description : Which of the following is not an area of responsibility for a logistics manager? A. Inventory B. Marketing C. Information systems D. Warehousing
Last Answer : B. Marketing
Description : Giving retailer an incentive to sell your product/service is the responsibility of which marketing mix? A. Product B. Price C. Promotion D. Place
Last Answer : D. Place
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 : 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