
Management Accounting Techniques
Quiz
•
Financial Education
•
12th Grade
•
Practice Problem
•
Medium
Debbie Meredith
Used 3+ times
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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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