Cost and Management Accounting

What is the primary purpose of management accounting?

• Conducting market research and analysis

• Managing human resources within the organization

• Preparing financial statements for external stakeholders

• Internal decision-making and planning

What is a budget and how is it used in management accounting?

• A budget is a type of financial report used to track employee attendance in management accounting.

• A budget is a financial plan used to set targets, allocate resources, monitor performance, and make strategic decisions in management accounting.

• A budget is a form of legal documentation used to file taxes in management accounting.

• A budget is a tool used to measure customer satisfaction in management accounting.

Discuss the role of management accounting in decision-making.

• Management accounting only provides irrelevant financial information

• Management accounting is only used for record-keeping purposes

• Management accounting has no role in decision-making

• Management accounting provides relevant financial information to help management make informed decisions.

When the accountant shows false information in financial statement to lure the investors it is known as

• Mercantile Accounting

• Window Dressing

• Money Measurement Concept

• None of the above

The purpose of management accounting is to

• Help banks make decisions

• Past orientation

• Help investors make decision

• Help managers make decisions

Management accounting deals with

• Qualitative information

• Quantitative information

• None of the above

• Both

The term management accounting was first coined in ____.

• 1940

• 1950

• 1960

• 1970

_______ play a key role in management accounting

• Investors

• Managers

• Customers

• Suppliers

Budgetary Control helps in implementation of

• Standard Costing

• Marginal Costing

• Ratio Analysis

• Technical Analysis

Summary budget may be regarded as

• Cash Budget

• Flexible Budget

• Master Budget

• Flexible Budget