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WorksheetsManagement Accounting
Total questions: 35
Worksheet time: 18mins
The use of management accounting is
Optional
Compulsory
Legally obligatory
Compulsory to some and optional to others
Management accounting assists the management
Only in control
Only in direction
Only in planning
In planning, direction and control
Which of the following are tools of management accounting?
A) Decision accounting
B) Standard costing
C) Budgetary control
D) Human Resources Accounting
A, B and D
A, C and D
A, B and C
A, B , C, D
Management accounting deals with
Quantitative information
Qualitative information
Both a and b
None of the above
Management accountancy is a structure for
Costing
Accounting
Decision making
Management
Which of the following is true about the behavior of fixed and variable costs?
Total FC changes with output.
Per unit FC reduces when output increases.
Total VC does not change with output.
Per unit VC reduces when output increases.
What is the frequency of report of managerial accounting?
Once at the end of accounting period
As frequently as needed
Management accountancy is a structure for
Costing
Accounting
Decision making
Management
The master budget reflects the impact of operating decisions, but not financing decisions.
True
False
Budgeting includes only the financial aspects of the plan and not any non financial aspects such as the number of physical units manufactured
True
False
Budgeted financial statements are also referred to as pro forma statements.
True
False
Budgets can play both planning and control roles for management.
True
False
Which branch of accounting is primarily concerned with the preparation of specific purpose financial statements for the management to base financial decisions on?
Auditing
Financial accounting
Cost accounting
Tax accounting
Management Accounting
Current ratio is a
Solvency ratio
Activity ratio
Profitability ratio
Liquidity ratio
Liquidity ratio measures
Firm's ability to meet current obligations
Proportion of dent and equity in the financing
Firm's efficiency in utilizing the assets
Overall performance of the firem
Accounts receivable turn over ratio measures
number of times inventory is sold during the year
how quickly a firm collects its Debtors
howmuch in total assets a firm must have to generate its sales
The proportion of receivables in accounts
Solvency ratio measures
Ability to meet its long term debts
Ability to meet its short term debts
ability to meet sundry creditors in time
Ability to solve problems
A quantitative plan is
Budget
Cash flow statement
Fund flow statement
Ratio
A combination of all the functional budgets of an organisation is
Sales budget
Cash budget
Functional budget
Master budget
Budget prepared for one level of activity is
Fixed budget
Flexible budget
Activity budget
Master budget
A series of fixed budget set for different levels
Set of Fixed budget
Fixed budget sets
Flexible budget
Master budget
The total cost tend to change as to level of activity changes
Period cost
Fixed cost
Variable cost
Change order cost
If the balance sheet of Maruthi Ltd is analysing by sunil a prospective investor to invest in shares of maruthi is.... analysis
Horizontal
Vertical
External
Internal
.............. analysis is known as a dynamic analysis
Horizontal
Vertical
Long Term
External
The management of
sudharma Ltd analysing the profitability of the company with the help of income statement is
Horizondal analysis
Short term analysis
External analysis
Internal analysis
The analysis which is known as a static analysis
Vertical
Long term
External
Internal
The analysis of working capital to analyse the ability of firm to meet the short term needs of a company
Short term
Long term
external
internal
Find the odd one
Comparative statement analysis
Common size statement analysis
Trend analysis
Ratio analysis
Comparative Position statement analysis is a ......
Short term analysis
Internal Analysis
Horizontal analysis
Vertical analysis
Statement prepared to show the relationship of different individual item with total
Comparative statement
Common size statement
Ration analysis
Fund flow statement
The review and appraisal of tendency in accounting variable is
Ratio analysis
Fund flow analysis
Trend analysis
Average analysis
The tool for evaluating the performance of two or more firms in same industry
Average analysis
Intra firm comparison
Inter firm comparison
Comparative analysis
Comaprison of two or more departments or divisions belonging to the same firm with the objectives of making meaningful analysis for the purpose of increasing the efficiency of the departments...
Inter firm comparison
intra firm comparison
Ratio analysis
Department analysis
fund means
Current assets
Current liabilities
Working capital
Net working capital
Current ratio is 2:1 and working capital is Rs. 5000, then current asset is
Rs. 5000
Rs. 10000
Rs 1000
Rs 20000
