Management Accounting Quiz

The basic function of accounting is to

• attain non-economic goals

• record economic data

• classify and record business transactions

• None of these

Financial accounting record only

• Standard figures

• Estimated figures

• Actual figures

• None of these

The branch of accounting which primarily deals with processing and presenting accounting data for internal use in a concern is

• Inflation accounting

• Cost accounting

• Financial accounting

• Management accounting

The term 'Management Accountancy' uses various tools like

• cost sheet

• budgetery control

• financial accounting

• all the above

Management accounting is also known as

• Price level accounting

• Historical cost accounting

• Financial accounting

• Decision accounting

The prime function of management accounting is to

• assist tax authorities

• assist the management in performing its functions effectively

• interpret the financial data

• record business transactions

Management accounting provides valuable services to management in performing

• Coordinating functions

• Controlling functions

• Planning functions

• all managerial functions

Management accounting is an offshoot of

• financial accounting

• cost accounting

• cost accounting and inflation accounting

• cost accounting and financial accounting

Management accounting is basically concerned with

• Auditors

• Statutory forms

• Tools and Techniques

• None of these

Management accounting analyses accounting data with the help of

• Auditors

• Statutory forms

• Tools and Techniques

• None of these