Top 550+ Solved Management Accounting MCQ Questions Answer
Q. 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)
c. Both B and C
d. A,
Q. 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
Q. 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
Q. Management accounting is related withA) The problem of choice makingB) Recording of transactionsC) Cause and effect relationships
a. A and B
b. B and C
c. A and C
d. All are false
Q. Management accountancy is a structure for
a. Costing
b. Accounting
c. Decision making
d. Management
Q. The prime function of financial accounting is to
a. Classify and Record the economic data
b. To achieve non-economic goals
c. Provide information for control
d. None of the above.
Q. Financing Activities bring changes in
a. Size and composition of owner equities
b. Borrowing of the enterprise
c. Both a and b
d. None of the above
Q. For year 2018 Equity Share Capital is Rs 3,00,000 Preference Share Capital is Rs.1,00,000,10% debentures is Rs.2,00,000 and Share premium is Rs.30,000. For year 2019 Equity Share Capital is Rs 4,00,000 Preference Share Capital is Rs.60,000 10% debentures is Rs.1,00,000 and Share premium is 40,000. Also given, Dividend paid on shares Rs 15,000 and Interest paid on debentures Rs. 20,000. Determine net cash flow from financing activities.
a. Inflow of Rs 65,000
b. Outflow of Rs 65,000
c. Inflow of Rs 56,000
d. Outflow of Rs 56000
Q. Which of the following falls under Profitability Ratios?A) General Profitability ratiosB) Overall Profitability ratiosC) Comprehensive Profitability ratios
a. A and B
b. A and C
c. B and C
d. None of the above
Q. While calculating Gross Profit Ratio,
a. Closing stock is deducted from cost of goods sold
b. Closing stock is added to cost of goods sold
c. Closing stock is ignored
d. None of the above
Q. Gross Profit Ratio is calculated by
a. (Gross Profit/Gross sales)*100
b. (Gross Profit/Net sales)*100
c. (Net Profit/Gross sales)*100
d. None of the above
Q. Given Sales is Rs.2,40,000 and Gross Profit is 60,000, the Gross Profit Ratio is
a. 24%
b. 25%
c. 40%
d. 44%%
Q. If selling price is fixed 25% above the cost, the Gross Profit Ratio is
a. 13%
b. 28%
c. 26%
d. 20%
Q. Determine Stock Turnover Ratio if, Opening stock is Rs 31,000, Closing stock is Rs 29,000, Sales is Rs 3,20,000 and Gross profit ratio is 25% on sales.
a. 12 times
b. 11 times
c. 8 times
d. 10 times
Q. Which of the following is not included in quick assets?
a. Debtors
b. Stock
c. Cash at bank
d. Cash in hand