Given below are the most important Management Accounting MCQ with answers. These Management Accounting (MA) MCQ are useful for managerial accounting, accounting for managers & accounting for management subject. These MCQs cover subtopics like Financial Statements, Budgeting, cost accounting, marginal costing, corporate accounting etc.
Students of MBA, BBA, B Com, M Com, MMS, PGDBM, PGDM, BA, MA and CA can use these management accounting multiple choice questions (MCQ) for exam preparation. These solved MA MCQ sets are equally helpful for entrance exams like UPSC, UGC NET, SET, MPSC etc.
Management accounting can be viewed as __________.
A. Marketing-oriented Accounting
B. Management-oriented Accounting
C. Accounting-oriented Management
D. Manager-oriented Accounting
View Answer
B. Management-oriented Accounting
________ is the language of Business which used to communicate financial information.
A. Accounting
B. Marketing
C. Profit
D. Pricing
View Answer
A. Accounting
The term management accounting was first coined in ____.
A. 1940
B. 1950
C. 1960
D. 1970
View Answer
B. 1950
_______ the sub-field of accounting.
A. Management accounting
B. Cost accounting
C. Financial accounting
D. All of the above
View Answer
D. All of the above
The main objective of management accounting is _________
A. To maintain the accounting records
B. To know the amount due from customers and suppliers
C. To ascertain analyse and interpret the results of business operations
D. To record all the business transactions
View Answer
C. To ascertain analyse and interpret the results of business operations
The term Management Accounting was coined by ______
A. F.W. Taylor
B. James H Bliss
C. R. N Carter
D. Philip Kotler
View Answer
B. James H Bliss
____________ is the study of managerial aspects of financial accounting
A. Cost accounting
B. Financial accounting
C. Management accounting
D. Business accounting
View Answer
C. Management accounting
The purpose of management accounting is to help ______ make decisions
A. managers
B. investors
C. marketers
D. banks
View Answer
A. managers
Managerial accounting information is generally prepared for _______
A. managers
B. stakeholders
C. government agencies
D. competitors
View Answer
A. managers
_______ play a key role in management accounting
A. Investors
B. Managers
C. Customers
D. Suppliers
View Answer
B. Managers
_________shows how the accounting function can be represented so as to fit it within the framework of Management activity.
A. Management accounting
B. Cost accounting
C. Financial accounting
D. Tax accounting cancer is Management accounting
View Answer
A. Management accounting
The primary task of management accounting is, therefore, to redesign the entire accounting system so that it may serve the ___________ needs of the firm.
A. Marketing
B. Operational
C. Human resource
D. Production
View Answer
B. Operational
_______ is the tool/s of management accounting.
A. Marginal Costing
B. Budget and budgetary control
C. Standard Costing
D. All A, B & C
View Answer
D. All A, B & C
Management accounting provides information to management so that planning organising directing and controlling of business operations can be done in an orderly manner.
A. Organising controlling planning and directing
B. Planning controlling organising directing
C. Planning organising directing controlling
D. Organising planning directing controlling
View Answer
C. Planning organising directing controlling
Which is the main characteristic of Management accounting?
A. Cause and effect analysis
B. providing accounting information
C. Helping to achieve organisational goals
D. All of the above
View Answer
D. All of the above
Management accounting is generally applied to __________
A. Large industrial and trading organisations
B. Cooperative societies
C. Non Profit Organisations
D. Small trading organisations
View Answer
A. Large industrial and trading organisations
Management accounting assists the management in_______
A. planning
B. directing
C. Controling
D. All of the above
View Answer
D. All of the above
Management accounting is mainly applicable to _______entities.
A. non profit
B. service
C. manufacturing
D. All of the above
View Answer
D. All of the above
The scope of Management accounting includes _______
A. Budgeting and forecasting
B. Internal audit and tax accounting
C. Financial and cost accounting
D. All of the above
View Answer
D. All of the above
The origin of the term Management Accounting goes back to year _______
A. 1950
B. 1939
C. 1929
D. 1896
View Answer
A. 1950
Which is NOT a limitation of Management accounting?
A. Management accounting is only a tool
B. Personal prejudice and bias
C. Evaluation and control of performance
D. Psychological resistance
View Answer
C. Evaluation and control of performance
Which is NOT an advantage of Management accounting?
A. Economic appraisal
B. Helps in decision making
C. Influenced by personal bias
D. Facilitates communication
View Answer
C. Influenced by personal bias
Goodwill is one of the _______
A. Current assets
B. Tangible assets
C. Intangible assets
D. Liquid assets
View Answer
C. Intangible assets
The concept of management accounting was introduced by ______
A. Arthur Andersen
B. James H. Bliss
C. William Beaver
D. Herman Bevis
View Answer
B. James H. Bliss
The term Management Accounting is mainly related to _______
A. presentation of account data
B. planning of account data
C. accurate recording of data
D. sharing the most reliable cost data with agencies
View Answer
A. presentation of account data
Salary is one of the ________
A. Direct expenses
B. Non cash expenses
C. Capital expenses
D. Revenue expenses
View Answer
D. Revenue expenses
Wealth maximization is a _________
A. short term concept
B. temporary concept
C. long term concept
D. outdated concept
View Answer
C. long term concept
Management Accounting provides invaluable services to management in performing___________
A. planning and controlling management principles
B. analysis and interpretation of financial data
C. supply of regular funds
D. all management functions
View Answer
D. all management functions
_______ deals with the accounting & reporting of information to management regarding the detail information.
A. cost accounting
B. financial accounting
C. management accounting
D. traditional accounting
View Answer
C. management accounting
Management accounting is mainly _____
A. Future oriented
B. Past oriented
C. Customer oriented
D. Bank oriented
View Answer
A. Future oriented
Management accounting concentrates on _______
A. preparation of PL account
B. creation of balance sheet
C. providing accounting details to macro environment
D. control of business operations
View Answer
D. control of business operations
In management accounting, an emphasis and focus must be _____ oriented.
A. bank
B. communication
C. future
D. past
View Answer
C. future
Salaries, wages, depreciations, rent & utilitie are used to calculate ________
A. marginal costs
B. output cost
C. operating costs
D. fixed costs
View Answer
C. operating costs
______ is responsible for financial operations of the organization.
A. CEO
B. CMO
C. CFO
D. CA
View Answer
C. CFO (Chief Financial Officer)
The primary objective of management accounting is to ______
A. furnish management complete and true information
B. supply profit and loss details to stakeholders
C. manage company account and improve sales
D. cut the operation cost to provide more savings
View Answer
A. furnish management complete and true information
The use of management accounting is ______
A. mandatory
B. compulsory
C. most essential
D. optional
View Answer
D. optional
____ is the type of accounting.
A. cost accounting
B. management accounting
C. financial accounting
D. all of the above
View Answer
D. all of the above
Management accounting helps ______ to make decisions.
A. Customers
B. Investors
C. Managers
D. Banks
View Answer
C. Managers
This is all about top MCQ questions on management accounting with solutions.
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