( Best 100+ ) Management Accounting MCQ
Management accounting helps managers within a company make decisions. Also known as cost accounting, management accounting is the process of identifying, analyzing, interpreting and communicating information to managers to help achieve business goals.
Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization’s goals.
The main objective of managerial accounting is to maximize profit and minimize losses. It is concerned with the presentation of data to predict inconsistencies in finances that help managers make important decisions.
51.Goods withdrawn by the proprietor for his personal use are
- Shown as a deduction from the purchases
- Shown as a deduction from the sales
- Treated as sales at cost price
- Added to the purchases
52.Closing stock is valued at
- Market value
- Cost or market price whichever is lower
- None of the above
53.If the change, because of a business transaction results in the increase of fund then the transactions responsible for such a change is said to be ____
- Uses of fund
- Schedule of change in working capital
- Source of fund
- Funds flow statements
54.Which of the following cannot be treated as revenue expenditure?
- Cost of goods purchased for resale.
- Wages paid for the erection of plant and machinery.
- Obsolescence cost.
- Expenses incurred by way of repairs of existing assets which do not have earning capacity.
- AS- 3 deals with______statement.
- Fund flow
- Cash flow
- Sale of goods is a _______ activity.
- Dividend paid is ______ activity.
- Cash flow include_______.
- Cash payments only
- Cash receipts only
- Cash receipts and payments only
- Cash and non cash expenses
- Increase in bills payable results in _______.
- No change in cash
- Change in cash
- Increase in cash
- Decrease in cash
- Provision for tax is _____ activity.
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