Management Accounting part A

Which TWO of the following statements about qualities of good information are true?

• It should be relevant for its purposes

• It should be communicated to the right person

• It should be completely accurate

• It should be provided whatever the cost

The sales manager has prepared a manpower plan to ensure that sales quotas for the forthcoming year are achieved. This is an example of what type of planning?

• Strategic planning

• Tactical planning

• Operational planning

• Corporate planning

which two of the following statements about management accounting information are true?

• It may include non-financial information

• It is required by law to be produced

• It is used to aid planning

• It is for use by parties external to the organisations

Which of the following statements is/are correct?

• i , ii and iii

• i and iii

• ii and iii

• iii only

Good information should have certain qualities.

Which two of the following are required as qualities of good management information?

• Complete

• Extensive

• True and Fair

• Accurate

Monthly variance reports are an example of which one of the following types of management information?

• Tactical

• Strategic

• Non-financial

• Operational

• i is true and ii is false

• ii is true and i is false

• Both are true

• Both are false

Which of the following processes occurs at the business planning stage?

• Obtaining data about actual results

• Taking corrective action

• Comparing actual performance with budgets

• Establishing objectives

Which of the following statements is correct?

• 1

• 2

• 3

• 4

Which TWO of the following would be data rather than information?

• Sales increase/decrease per product in last quarter

• Total sales value per product

• Total material usage

• Sales staff commission as a percentage of total sales