Take Management Accounting Online Test and evaluate your readiness before you appear for any interview or written test. Consisting of objective type questions from various important concepts of Management Accounting, this test presents you questions followed by four options. The correct answer and explanation provided with each question make it easier for you to to understand each concept well.
Who is this Management Accounting Online Test designed for?
All the management students and experienced professionals will find this test extremely useful. All freshers, B.Com, M.Com, BBA, MBA, college students wanting to make a career in management will be highly benefitted by this test.
Management Accounting Online Test topics
This online test covers topics like - Accounting Terms, Elements of Cost, Marginal costing, Cost Volume Profit Analysis, BEP, Budgetary Control, Standard Costing etc.
1. How does management accounting help the management?
i] In making managerial decisions
ii] In employee welfare
iii] In meeting the government regulations
iv] By establishing a plan to achieve the economic objectives
a. Only i and iii
b. Only i and iv
c. All i, ii and iii
d. All i, ii and iv
Answer: d. All i, ii and iv
2. Match the Following
1] Maximum Level
i] Reorder Level + Reorder Quantity - (Minimum Usage x Minimum Lead Time)
2] Danger Level
ii] Reorder Level - (Normal Usage x Normal Lead Time)
3] Minimum Level
iii] Normal Usage x Lead-time for emergency purchases)
4] Reorder Level
iv] Maximum Lead Time x Maximum Usage
a. 1-ii, 2-iii, 3-iv, 4-i
b. 1-i, 2-iii, 3-ii, 4-iv
c. 1-i, 2-ii, 3-iii, 4-iv
d. Nonw of the above
Answer: b. 1-i, 2-iii, 3-ii, 4-iv
3. How has Management Accounting impacted Financial Accounting?
a. Defeated financial accounting theories
b. Through replacementr
c. Through better acceptance
d. By reducing the shortcomings
Answer: d. By reducing the shortcomings
4. Deferred revenue expenditures have an impact on the profitability only when they are _______
a. Written off to profitability statement
b. Shown in the liability side
c. Not shown in the balance sheet
d. Not written in profitability statement
Answer: a. Written off to profitability statement
5. The effect of 'Going Concern Concept' of the organization is that, while valuating the assets, market price becomes ________