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Management Accounting Techniques

Authored by Debbie Meredith

Financial Education

12th Grade

Used 3+ times

Management Accounting Techniques
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The purpose of management accounting is to:

Provide financial information for decision-making

Ensure compliance with tax laws

Audit financial statements

Manage company investments

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The management accountant of ABC has produced a monthly report for managers. Some of the managers have complained that the report is unhelpful as it misses out some key figures and that they are not always familiar with the terminology used in the report. Which of the characteristics of good information are missing in this report?

Accurate and relevant

Complete and understandable

Easy to use and accurate

Understandable and authoritative

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cost unit is an individual unit of _______ or service for which costs can be separately ascertained.

product

service

cost

unit

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A cost unit in the context of management accounting is:

a measure of the resources consumed by a cost object.

a unit of product or service for which costs are measured.

a financial statement showing the company's performance.

a method of allocating overhead costs.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a composite cost unit?

Tonne-miles for haulage companies

Litres of paint for a paint manufacturer

Specific customer order in a printing firm

Cost per hour of chargeable time in an accountancy firm

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fill in the blank: Classification by element involves stating costs according to what the cost is, such as Material, Labour, and _______.

Overhead

Rent

Utilities

Insurance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a non-production cost?

Raw materials

Factory rent

Stationery for the administration team

Oil for lubricating production machinery

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