Top 550+ Solved Management Accounting MCQ Questions Answer
Q. The responsibility accounting is also called -
a. Profitability accounting
b. Activity accounting
c. Both (a) and (b)
d. None of these
Q. The responsibility accounting is the part of -
a. Financial accounting
b. Management accounting
c. Mechanized accounting
d. None of these
Q. Which of the following system emphasizes on cost control ?
a. Cost accounting
b. Responsibility accounting
c. Financial accounting
d. None of these
Q. The responsibility centres come under the responsibility of -
a. Cost accountants
b. Management accountant
c. Responsibility managers
d. Auditor
Q. The subdivision of responsibility centre is -
a. Expense centre
b. Profit centre
c. Investment centre
d. All of the above
Q. The accounting department in an organization is -
a. Investment centre
b. Expense centre
c. Profit centre
d. All of the above
Q. What is the main advantage of responsibility accounting ?
a. Improves performance
b. It fixes responsibility
c. Helpful in decision making
d. All of the above
Q. The responsibility accounting is a system by which the responsibility is assigned to theconcerned persons -
a. To increase sales
b. To control cash
c. To increase production
d. All of the above
Q. The contribution of accounting department in an organization -
a. Cannot be measured in monetary terms
b. Can be measured in monetary terms
c. May or may not be measured in monetary terms
d. None of the above
Q. According to responsibility accounting, the entire organization is divided into various -
a. Business centre
b. Profit centre
c. Responsibility centre
d. None of the above
Q. It may not be ______ to measure exactly the output of service departments in anorganization.
a. Feasible
b. Necessary
c. Either (a) or (b)
d. None of these
Q. Internal transfer of process at profit _________ of the company.
a. Will not increase the asset
b. Will increase the asset
c. Can’t say
d. Inadequate information
Q. The success of budgetary control system depends upon the willing cooperation of ….…
a. Shareholders
b. Management
c. Creditors
d. All the functional areas of management
Q. A key factor is one which restricts ……
a. The volume of production
b. The volume of sales
c. The volume of purchase
d. All of the above
Q. The classification of fixed and variable cost is useful for the preparation of ……
a. Master budget
b. Flexible budget
c. Cash budget
d. Capital budget