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Management Accounting MCQ Questions and Solutions with Explanations | Management

Management Accounting MCQ Questions and answers with easy and logical explanations. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Management MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department exam. Page-2 section-1

Each section contains 100 MCQs on Management Accounting .
11
Decision making step, which consists of organization goals, predicting alternatives and communicating goals is called
Discuss
Answer & Solution
Answer: Option C
Solution:
Decision making step, which consists of organization goals, predicting alternatives and communicating goals is called planning. Planning is also a management process, concerned with defining goals for a company's future direction and determining the missions and resources to achieve those targets. To meet objectives, managers may develop plans, such as a business plan or a marketing plan.
12
An availability of financial information, to oversee operations and system of accounting is known as
Discuss
Answer & Solution
Answer: Option B
Solution:
An availability of financial information, to oversee operations and system of accounting is known as controllership. A financial controller is responsible for ensuring that all accounting allocations are appropriately made and documented.
13
An availability of after sale support, to existing or potential customers in value chain analysis is known as
Discuss
Answer & Solution
Answer: Option A
Solution:
An availability of after sale support, to existing or potential customers in value chain analysis is known as customer services. Customer service is the act of taking care of the customer's needs by providing and delivering professional, helpful, high quality service and assistance before, during, and after the customer's requirements are met.
14
Quantitative expression of decided plan and coordination, for plan implementation is known as
Discuss
Answer & Solution
Answer: Option D
Solution:
Quantitative expression of decided plan and coordination, for plan implementation is known as budget. A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.
15
In management accounting, an emphasis and focus must be
Discuss
Answer & Solution
Answer: Option A
Solution:
In management accounting, an emphasis and focus must be future oriented. Management Accounting is the presentation of accounting information in order to formulate the policies to be adopted by the management and assist its day-to-day activities.
16
Strategy that interlinks technology and people, to enhance relationships in all business functions is classified as
Discuss
Answer & Solution
Answer: Option C
Solution:
Strategy that interlinks technology and people, to enhance relationships in all business functions is classified as customer relationship management. Customer relationship management (CRM) refers to the principles, practices, and guidelines that an organization follows when interacting with its customers.
17
Experimentation and generation of ideas related to new product or services are included in
Discuss
Answer & Solution
Answer: Option B
Solution:
Experimentation and generation of ideas related to new product or services are included in research and development. Research and development (R&D) refers to the activities companies undertake to innovate and introduce new products and services. It is often the first stage in the development process.
18
Philosophy, in which management works to improve value chain of products, to exceed customer expectations is classified as
Discuss
Answer & Solution
Answer: Option A
Solution:
Philosophy, in which management works to improve value chain of products, to exceed customer expectations is classified as quality. Quality means "the totality of features and characteristics of a product or service that bears its ability to satisfy stated or implied needs."
19
Cash management, investments, long and short term financing are included in
Discuss
Answer & Solution
Answer: Option C
Solution:
Cash management, investments, long and short term financing are included in treasury. Treasury management is defined as 'the corporate handling of all financial matters, the generation of external and internal funds for business, the management of currencies and cash flows and the complex strategies, policies and procedures of corporate finance.'
20
In financial accounting, investors, banks, suppliers and government agencies are classified as
Discuss
Answer & Solution
Answer: Option A
Solution:
In financial accounting, investors, banks, suppliers and government agencies are classified as external parties. An external party can be an individual or organization that is a legal entity. If the external party is an individual, the individual may or may not be a contact for an organization.