Top 150+ Solved Accounting for Management MCQ Questions Answer
Q. …………….is concerned with recording transactions and preparing financialreports for the external and internal users of accounting.
a. management accounting
b. financial accounting
c. cost accounting
d. all of these
Q. The Branch of accounting concerned with collection, determining andcontrolling cost of products and services is called………………
a. management accounting
b. financial accounting
c. cost accounting
d. all of these
Q. ……………is concerned with providing information to management for takingmanagerial decisions.
a. management accounting
b. financial accounting
c. cost accounting
d. all of these
Q. The father of Double Entry system is………………
a. luca pacioli
b. lopus patricia
c. lukas christian
d. none of these
Q. ……………….is the art of recording, classifying and summarizing in asignificant manner and in terms of money, transactions and events, which are in part, at least of financial character and interpreting the results there of.
a. management accounting
b. accounting
c. cost accounting
d. all of these
Q. Which among the following do not belong to the category of Accounting ?
a. management accounting
b. financial accounting
c. cost accounting
d. none of these
Q. The objective of financial accounting is to find out…………………..
a. profitability and financial position
b. liquidity
c. solvency
d. none
Q. ……………….journal is used to record credit sale of goods
a. sales journal
b. cash book
c. purchase journal
d. none of these
Q. The ………….Management is mainly concerned with the policy decisions.
a. top
b. middle
c. bottom
d. all of these
Q. 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
Q. 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 these
Q. Management accounting provides invaluable services to Management inperforming…………..
a. all management functions
b. co-ordination functions
c. controlling functions
d. none of these
Q. Accounting designed to serve parties external to the operatingresponsibility of the firm is termed as…………….
a. management accounting
b. financial accounting
c. cost accounting
d. none of these
Q. Cost Accounting and Management Accounting are ……………….. in nature.
a. complementary
b. contradictory
c. different
d. similar
Q. Management accounting has a ……….. scope than cost accounting.
a. wider
b. narrow
c. no
d. none of these