MCQOPTIONS
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MCQOPTIONS
This section includes 657 Mcqs, each offering curated multiple-choice questions to sharpen your Testing Subject knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Timeframe between placement of order until a finished good produces is classified as%! |
| A. | customer response time |
| B. | manufacturing lead time |
| C. | manufacturing cycle time |
| D. | both b and c |
| Answer» E. | |
| 2. |
On-time performance and customer-response time are examples of%! |
| A. | customer measures |
| B. | financial measures |
| C. | measures of growth and learning |
| D. | measures of internal business processes |
| Answer» B. financial measures | |
| 3. |
Basic aspects of product quality must include the%! |
| A. | design quality |
| B. | conformance quality |
| C. | scorecard quality |
| D. | both a and b |
| Answer» E. | |
| 4. |
Fishbone diagram is an example of%! |
| A. | relevant costing diagram |
| B. | cause and effect diagram |
| C. | control chart |
| D. | Pareto diagram |
| Answer» C. control chart | |
| 5. |
An officer responsible for financial operations of organization is considered as%! |
| A. | chief financial officer |
| B. | chief manager |
| C. | chief line function |
| D. | chief staff function |
| Answer» B. chief manager | |
| 6. |
In management accounting, an emphasis and focus must be%! |
| A. | future oriented |
| B. | past oriented |
| C. | communication oriented |
| D. | bank oriented |
| Answer» B. past oriented | |
| 7. |
In financial accounting, investors, banks, suppliers and government agencies are classified as%! |
| A. | external parties |
| B. | internal parties |
| C. | environmental parties |
| D. | transactional parties |
| Answer» B. internal parties | |
| 8. |
An approach in which managers use resources to increase customer value is classified as%! |
| A. | help management |
| B. | cost management |
| C. | past management |
| D. | future management |
| Answer» C. past management | |
| 9. |
In cost benefit approach, type of costs include%! |
| A. | cost of ongoing operations |
| B. | investments in physical assets |
| C. | training of managers |
| D. | all of above |
| Answer» E. | |
| 10. |
Continuous pressure of reducing cost of products to be sold is classified as%! |
| A. | supply efficiency |
| B. | material affectivity |
| C. | processing effective |
| D. | cost and efficiency |
| Answer» E. | |
| 11. |
If value added manufacturing time is 65 minutes, total manufacturing time is 80 minutes, then manufacturing cycle time will be%! |
| A. | 0.8125 |
| B. | 0.6125 |
| C. | 0.9125 |
| D. | 1.725 |
| Answer» B. 0.6125 | |
| 12. |
*$_If payback period is 4 years and uniform increases in cash flows per year is $2750000, then net initial investment can be? |
| A. | $10,511,000 |
| B. | $12,105,000 |
| C. | $1,100,000 |
| D. | $11,000,000 |
| Answer» E. | |
| 13. |
*$_In strategy formulation, forces that must be focused for industry analysis include? |
| A. | potential entrants in market |
| B. | customer's bargaining power |
| C. | supplier's bargaining power |
| D. | all of above |
| Answer» E. | |
| 14. |
*$_Balanced scorecard perspective, which measures strategy profitability and amount of operating income results from cost reduction is classified as? |
| A. | learning perspective |
| B. | financial perspective |
| C. | internal business process perspective |
| D. | customer perspective |
| Answer» C. internal business process perspective | |
| 15. |
*$_Considering two fiscal years 2013 and 2014, an input price in 2013 and 2014 are $9 and $11 per unit respectively and input required units in 2013 to produce output in 2014 are 30000 units, then cost effect of price recovery will be? |
| A. | $60,000 |
| B. | $6,000 |
| C. | $65,000 |
| D. | $6,500 |
| Answer» B. $6,000 | |
| 16. |
*$_Categories of cash flows include? |
| A. | net initial investment |
| B. | cash flow from operations after paying taxes |
| C. | cash flow from terminal disposal after paying taxes |
| D. | all of above |
| Answer» E. | |
| 17. |
*$_Considering two fiscal years 2013 and 2014, actual units sold in 2013 and 2014 are 11000 and 12500 units respectively, and selling price in year 2013 is $50, then revenue effect of growth will be? |
| A. | $70,000 |
| B. | $75,000 |
| C. | $65,000 |
| D. | $73,000 |
| Answer» C. $65,000 | |
| 18. |
*$_Balanced scorecard perspective focuses on all operations, which leads to value creation process for customers, can be categorized as? |
| A. | learning perspective |
| B. | financial perspective |
| C. | internal business process perspective |
| D. | customer perspective |
| Answer» D. customer perspective | |
| 19. |
*$_If quantity of manufactured jackets is 2250000 units and leather used to produce output is 3500000 sq.m, then direct materials' partial productivity will be? |
| A. | 0.642 unit of jacket per sq.m of leather |
| B. | 0.342 unit of jacket per sq.m of leather |
| C. | 0.442 unit of jacket per sq.m of leather |
| D. | 0.542 unit of jacket per sq.m of leather |
| Answer» B. 0.342 unit of jacket per sq.m of leather | |
| 20. |
*$_Sum of returned working capital and net initial investment is divided by 2 to calculate? |
| A. | increase in operating income |
| B. | average investment over five years |
| C. | average capital invested |
| D. | average rate of return |
| Answer» C. average capital invested | |
| 21. |
*$_Process of making long term decisions, for capital investment in projects is called? |
| A. | lead budgeting |
| B. | lean budgeting |
| C. | capital budgeting |
| D. | relevant budgeting |
| Answer» D. relevant budgeting | |
| 22. |
*$_If actual price input is $700, budgeted price of input is $400 and actual quantity of input is 50 units, then price variance will be? |
| A. | $15,000 |
| B. | $13,000 |
| C. | $11,000 |
| D. | $9,000 |
| Answer» B. $13,000 | |
| 23. |
*$_According to net present value, projects that would be acceptable must have a? |
| A. | negative net present value |
| B. | zero net present value |
| C. | positive net present value |
| D. | both b and c |
| Answer» E. | |
| 24. |
*$_An actual input quantity is 200 units and budgeted input quantity is 50 units, then efficiency variance will be? |
| A. | 275 units |
| B. | 250 units |
| C. | 150 units |
| D. | 650 units |
| Answer» D. 650 units | |
| 25. |
*$_Fishbone diagram is an example of? |
| A. | relevant costing diagram |
| B. | cause and effect diagram |
| C. | control chart |
| D. | Pareto diagram |
| Answer» C. control chart | |
| 26. |
*$_If value added manufacturing time is 65 minutes, total manufacturing time is 80 minutes, then manufacturing cycle time will be? |
| A. | 0.8125 |
| B. | 0.6125 |
| C. | 0.9125 |
| D. | 1.725 |
| Answer» B. 0.6125 | |
| 27. |
*$_An approach in which managers use resources to increase customer value is classified as? |
| A. | help management |
| B. | cost management |
| C. | past management |
| D. | future management |
| Answer» C. past management | |
| 28. |
*$_In financial accounting, investors, banks, suppliers and government agencies are classified as? |
| A. | external parties |
| B. | internal parties |
| C. | environmental parties |
| D. | transactional parties |
| Answer» B. internal parties | |
| 29. |
*$_Continuous pressure of reducing cost of products to be sold is classified as? |
| A. | supply efficiency |
| B. | material affectivity |
| C. | processing effective |
| D. | cost and efficiency |
| Answer» E. | |
| 30. |
*$_In cost benefit approach, type of costs include? |
| A. | cost of ongoing operations |
| B. | investments in physical assets |
| C. | training of managers |
| D. | all of above |
| Answer» E. | |
| 31. |
*$_In management accounting, an emphasis and focus must be? |
| A. | future oriented |
| B. | past oriented |
| C. | communication oriented |
| D. | bank oriented |
| Answer» B. past oriented | |
| 32. |
*$_An officer responsible for financial operations of organization is considered as? |
| A. | chief financial officer |
| B. | chief manager |
| C. | chief line function |
| D. | chief staff function |
| Answer» B. chief manager | |
| 33. |
*/*_Variance is stated difference between expected performance and the? |
| A. | revenue planning |
| B. | actual results |
| C. | marketing results |
| D. | cost planning |
| Answer» C. marketing results | |
| 34. |
*/*_Costs that are not incorporated in accounting records, but are recognized in different situations are classified as? |
| A. | congruent costs |
| B. | imputed costs |
| C. | operating costs |
| D. | transfer costs |
| Answer» C. operating costs | |
| 35. |
*/*_An accounting approach, in which expected benefits exceed expected cost is classified as? |
| A. | benefit approach |
| B. | cost approach |
| C. | cost-benefit approach |
| D. | accounting approach |
| Answer» D. accounting approach | |
| 36. |
*/*_Delivery of goods by time it is contracted to be delivered is known as? |
| A. | effective performance |
| B. | efficient performance |
| C. | in-time performance |
| D. | on-time performance |
| Answer» E. | |
| 37. |
*/*_Quantity or number of units of different products that together make up total sales of company is called? |
| A. | sales mix |
| B. | product mix |
| C. | unit mix |
| D. | quantity mix |
| Answer» B. product mix | |
| 38. |
*/*_Kind of cost which on elimination, would not reduce perceived usefulness that customers can obtain by using market offering is known as? |
| A. | designed-in costs |
| B. | locked-in costs |
| C. | value added cost |
| D. | non-value added cost |
| Answer» E. | |
| 39. |
*/*_In standard costing, standard quantity allocation is multiplied to standard overhead rates for allocating? |
| A. | flexible costs |
| B. | variable costs |
| C. | overhead costs |
| D. | fixed costs |
| Answer» D. fixed costs | |
| 40. |
*/*_An energy, machine maintenance, indirect materials and engineering support are considered as? |
| A. | variable overhead cost |
| B. | fixed overhead cost |
| C. | fixed batch cost |
| D. | variable batch cost |
| Answer» B. fixed overhead cost | |
| 41. |
*/*_In costing and budgeting hierarchy, an example of product sustaining cost is? |
| A. | initial offering cost |
| B. | batch marketing cost |
| C. | product marketing cost |
| D. | product design cost |
| Answer» E. | |
| 42. |
*/*_Sum of all resources used to generate income is classified as? |
| A. | DuPont investment |
| B. | return on investment |
| C. | investment |
| D. | investment turnover |
| Answer» D. investment turnover | |
| 43. |
*/*_If current assets are $250000 and current liabilities are $135500, then working capital would be? |
| A. | $3,855,500 |
| B. | $314,500 |
| C. | $214,500 |
| D. | $114,500 |
| Answer» E. | |
| 44. |
*/*_In corporate costs, cost incurred to finance construction of new equipment are classified as? |
| A. | treasury costs |
| B. | discretionary costs |
| C. | human resource management costs |
| D. | corporate administration costs |
| Answer» B. discretionary costs | |
| 45. |
*/*_In accounting, possibility of deviation of actual amount from an expected amount is classified as? |
| A. | contribution |
| B. | certainty |
| C. | uncertainty |
| D. | margin |
| Answer» D. margin | |
| 46. |
*/*_An insensitivity of demand in relevance to change in price will be called? |
| A. | demand elasticity |
| B. | price elasticity |
| C. | price inelasticity |
| D. | demand inelasticity |
| Answer» E. | |
| 47. |
*/*_Costs that are planned in future and has not been incurred are known as? |
| A. | designed-in costs |
| B. | locked-in costs |
| C. | value added cost |
| D. | both a and b |
| Answer» B. locked-in costs | |
| 48. |
*/*_Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as? |
| A. | product life cycle method |
| B. | life cycle budgeting method |
| C. | life cycle costing method |
| D. | time and material method |
| Answer» E. | |
| 49. |
*/*_In customer cost hierarchy, costs of all incurred activities to sell a unit of product are classified as? |
| A. | customer sustaining costs |
| B. | customer output unit-level costs |
| C. | customer batch-level costs |
| D. | corporate sustaining costs |
| Answer» C. customer batch-level costs | |
| 50. |
*/*_If budgeted revenue is $50000 and breakeven revenue is $35000, then margin of safety would be? |
| A. | $12,000 |
| B. | $14,000 |
| C. | $15,000 |
| D. | $16,000 |
| Answer» D. $16,000 | |