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Home » Top 35 Management Accounting MCQ With Answers

Top 35 Management Accounting MCQ With Answers

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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