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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-4 section-1

Each section contains 100 MCQs on Management Accounting .
31
In financial accounting, an emphasis and focus is considered as
Discuss
Answer & Solution
Answer: Option D
Solution:
In financial accounting, an emphasis and focus is considered as past oriented. They tend to be conservative in management and slow to change those things that are tied to the past.
32
In value chain analysis, selling and promotion to prospective customers is classified as
Discuss
Answer & Solution
Answer: Option B
Solution:
In value chain analysis, selling and promotion to prospective customers is classified as marketing. Value chain analysis is a strategy tool used to analyze internal firm activities. Its goal is to recognize, which activities are the most valuable (i.e. are the source of cost or differentiation advantage) to the firm and which ones could be improved to provide competitive advantage.
33
In value chain analysis, delivery of services or products to end customers is classified as
Discuss
Answer & Solution
Answer: Option D
Solution:
In value chain analysis, delivery of services or products to end customers is classified as distribution. Value chain analysis is a strategy tool used to analyze internal firm activities. Its goal is to recognize, which activities are the most valuable (i.e. are the source of cost or differentiation advantage) to the firm and which ones could be improved to provide competitive advantage.
34
An implementation of planning decisions and evaluating performance is classified as
Discuss
Answer & Solution
Answer: Option A
Solution:
An implementation of planning decisions and evaluating performance is classified as control. Planning can be defined as the process of selecting a future course of action. Decision-making defined as the process of selecting a course of action from the alternatives. They need to be accurate for the welfare of the organization.
35
Continuous pressure of reducing cost of products to be sold is classified as
Discuss
Answer & Solution
Answer: Option D
Solution:
Continuous pressure of reducing cost of products to be sold is classified as cost and efficiency. It is the act of saving money by making a product or performing an activity in a better way.
36
Cost management technique which specially addresses strategic issues is classified as
Discuss
Answer & Solution
Answer: Option C
Solution:
Cost management technique which specially addresses strategic issues is classified as strategic cost management. Strategic cost management is the process of reducing total costs while improving the strategic position of a business. This goal can be accomplished by having a thorough understanding of which costs support a company's strategic position and which costs either weaken it or have no impact.
37
Purpose of financial accounting is
Discuss
Answer & Solution
Answer: Option A
Solution:
Purpose of financial accounting is communicating company position to investors. The purpose of accounting is to provide the information that is needed for sound economic decision making. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities.
38
An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as
Discuss
Answer & Solution
Answer: Option D
Solution:
An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as financial accounting. Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.
39
Formal way of differentiating, between non-random and random variations, in manufacturing process is classified as
Discuss
Answer & Solution
Answer: Option A
Solution:
Formal way of differentiating, between non-random and random variations, in manufacturing process is classified as statistical process control. Statistical process control (SPC) is a method of quality control which employs statistical methods to monitor and control a process.
40
If value added manufacturing time is 65 minutes, total manufacturing time is 80 minutes, then manufacturing cycle time will be
Discuss
Answer & Solution
Answer: Option A
Solution:
Cycle manufacturing time = Value added manufacturing time ÷ Total manufacturing time
= 65 minutes ÷ 80 minutes
= 0.8125