( Best 150+ ) Accounting for Management MCQ

by Mr. DJ

Accounting for Management MCQ

Table of Contents

Given below are Accounting for Management MCQ with answers. These MCQs are equally useful for managerial accounting, accounting for managers & accounting for management subject. This is also useful to explore subtopics like Financial Statements, Budgeting, cost accounting, marginal costing, corporate accounting etc.

Accounting for Management MCQ

MBA, BBA, B Com, M Com, MMS, PGDBM, PGDM, BA, MA and CA students can use these multiple choice questions for university exams. These solved MA MCQ sets are also helpful for entrance exams like UPSC, UGC NET, SET, MPSC etc.

Accounting for Management MCQ

131. Direct costs are also known as:

A. indirect cost

B. overhead costs

C. prime costs

D. marginal costs

132. Indirect costs are also known as

A. direct cost

B. overhead costs

C. prime costs

D. marginal costs

133. Which of the following is not true?

A. managerial accounting information is prepared for internal users

B. managerial accounting information is not required by various laws

C. there are specific standards of acceptability for managerial accounting

D. the structure of managerial accounting practice is relatively flexible

134. Which of the following are basic inventories for a manufacturer?

A. indirect materials, goods in process, and raw materials

B. finished goods, raw materials, and direct materials

C. raw materials, goods in process, and finished goods

D. raw materials, factory overhead, and direct labour

135. The three basic elements of the cost of a manufactured product are:

A. indirect materials, indirect labour, and manufacturing overhead

B. merchandise inventory, work in process, and finished goods inventory

C. direct materials, work in process, and finished goods inventory

D. direct materials, direct labour, and manufacturing overhead

136. A cost which changes in proportion to changes in volume of activity is
called

A. fixed cost

B. controllable cost

C. variable cost

D. opportunity cost

137. A ‘direct’ cost is a cost that is classified by:

A. behaviour

B. traceability

C. controllability

D. relevance

138. A ‘product’ cost is a cost that is classified by:

A. behaviour

B. function

C. controllability

D. relevance

139. Which of the following is a period cost?

A. direct materials

B. indirect materials

C. factory utilities

D. administrative expenses

140. Managerial accounting information is generally prepared for

A. shareholders

B. creditors

C. managers

D. regulatory agencies

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