Management Accounting

Which of the following is true about Standard Costing?

• 1. It is a technique of implementing cost control within the organisation

• 1. It helps in planning out business activities within the organisation

• 1. Both are incorrect

• 1. Both are correct

7. Standard Costing is best suited for which of the following industries?

• 1. It is appropriate for industries that manufacture standard goods

• It is appropriate for service-oriented businesses

• It’s ideal for industries that make non-standard goods

• None of the above

The purpose of management accounting is to

• Help banks make decisions

• Past orientation

• Help investors make decision

• Help managers make decisions

Management accounting deals with

• Qualitative information

• Quantitative information

• None of the above

• Both

The term management accounting was first coined in ____.

• 1940

• 1950

• 1960

• 1970

_______ play a key role in management accounting

• Investors

• Managers

• Customers

• Suppliers

Budgetary Control helps in implementation of

• Standard Costing

• Marginal Costing

• Ratio Analysis

• Technical Analysis

Summary budget may be regarded as

• Cash Budget

• Flexible Budget

• Master Budget

• Flexible Budget

ZBB Starts with

• Historical Data

• Zero

• Last Years Data

• Current year data

Fixed cost is also referred to as ________ in the marginal costing technique.

• 1. Total cost

• 1. Product cost

• 1. Period cost

• Marginal Cost