Management accounting

__________________ is the process of collecting, recording, classifying and summarising financial data

• Reporting

• Accounting

• Writing

• Auditing

"The term used to describe the accounting methods, systems and techniques which ,couple with special knowledge and ability, assist management in its task of maximising profit or minimising losses" is defined by________

• I.C.M.A

• J.Batty

• Hawkins

• Kohler

_____________provides comparative data for analysis and interpretation for effective decision making and policy formulation

• Financial accounting

• Cost accounting

• Management accounting

• Corporate accounting

Formula for liquid ratio=

• Quick assets/Current liabilities

• Current assets/current liabilities

• Current liabilities/current assets

Formula for Gross profit ratio

• Gross profit/Gross sales X100

• Gross profit/Net sales X100

• Operating profit/Net sales X100

• Gross profit/Operating profitX100

formula for net profit ratio

• Net profit-gross profitX100

• Net profit after tax/Net sales X100

• Net profit before tax /Net salesX100

Ratio analysis involves the process of _____________

• Recording

• Computation

• Relationship between two items

• None of these

Solvency ratio indicate ___________________

• Profitability

• Activity

• Credit worthyness

• None of these

The accounting standard for Cash flow statement

• AS-2

• AS-4

• AS-3

• AS-5

Interest paid is shown in

• Financial activity

• Investing activity

• Operating activity