Top 550+ Solved Management Accounting MCQ Questions Answer
Q. Calculate Break Even Point in units if Fixed cost is 15,000 ,SP=15 and VC=12
a. 1000 units
b. 1250 units
c. 1500 units
d. 5000 units
Q. Calculate Profit if Mos=40%,P/v ratio=50% and Actual Sales=10,00,000.
a. 900000
b. 500000
c. 200000
d. 400000
Q. Variable cost ratio =80% and Mos=40%.Calculate P/V ratio and BEP(in Percentage) respectively.
a. 60%,60%
b. 20%,60%
c. 60%,20%
d. 20%,20%
Q. At Break even point,Contribution is equal to .
a. Profit
b. Variable Cost
c. Fixed Cost
d. Selling Price
Q. Which statement is true.I)Fixed budget assumes Changing business conditions. II)Flexible budget is prepared for only onelevel of activity.
a. None is true
b. Both are true
c. Only I
d. Only II
Q. The wages due from Mar 20 ,Apr 20 and May 20 areRs8000,Rs9000 and Rs 10,000 respectively.There is delay in payment of wages of 2 months.What will be the wages paid in May
a. Rs 9000
b. Rs 8000
c. Rs 10000
d. Rs 27000
Q. Type of accounting which specialises in providing information about detailed cost of products?
a. Cost Accounting
b. Management Accounting
c. Financial Management
d. Financial Accounting
Q. What is included in scope of management accounting? I)Internal Control II)Budgeting III)Reporting to management IV)Office Services
a. Only II,III,IV
b. ALL I,II,III,IV
c. Only II and IV
d. Only I,II,IV
Q. Which of the following is the basis of difference between Financial and Management Accounting?
a. Publication and Audit
b. Periodic v/s Continuos reporting
c. Statutory Requirements
d. All of the above
Q. What are the objectives of Cost accounting?I)Cost Ascertainment II)Cost Control
a. Only I
b. Both I & II
c. Only II
d. None of the Above
Q. The status of management accountant is at what level as compared to cost accountant?
a. Lower
b. Equal
c. Higher
d. No status at all
Q. Which statement is true.I)Financial accounts are prepared according to Accounting Standards. II)Management Accounting reports are also prepared according to accounting standard.
a. Only II
b. Both I and II
c. Only I
d. None is true
Q. What indicate the relationship of different items of a financial statement with some common item by expressing each item as a percentage of the common item.
a. Comparative Statements
b. Ratio
c. Common size Statements
d. None of the Above
Q. Which is not the limitation of financial analysis?I)Effect of personal Bias II)Identify Trend III)Judge Efficiency IV)Different accounting policies
a. Only I
b. Only II and III
c. Only II , III and IV
d. Only I and IV