TOP 100+ Management Accounting MCQ With Answers PDF

Management Accounting MCQ With Answers PDF: Management Accounting stands for accounting related to management activities. This covers financial and costs accounting. Many of the topics related to this subject include concepts like cash flow, profit planning, and budgeting, marginal costing, corporate accounting, etc. The following MCQs are composed based on the latest syllabus in India. They help students and young professionals prepare for their exams. And you can check multiple choice answers for these questions at the end of each question.

If you’re searching for Management Accounting Quiz Questions, then we’re the ones to help you solve them! Given below are the top Management Accounting MCQ with answers that will surely help you out in exam preparation. These MCQs cover subtopics like Financial Statements, Budgeting, cost accounting, marginal costing, corporate accounting, etc.

Given below are the top Management Accounting MCQ with answers. These MCQs are useful for managerial accounting, accounting for managers & accounting for management subjects. These MCQs cover subtopics like Financial Statements, Budgeting, cost accounting, marginal costing, corporate accounting, etc.

Management Accounting MCQ With Answers

1. Management accounting concentrates on _______

A. preparation of PL account

B. creation of balance sheet

C. providing accounting details to the macro environment

D. control of business operations

Answer: control of business operations

2. In management accounting, an emphasis and focus must be _____ oriented.

A. bank

B. communication

C. future

D. past

Answer: future

3. Salaries, wages, depreciation, rent & utilities are used to calculate ________

A. marginal costs

B. output cost

C. operating costs

D. fixed costs

Answer: operating costs

4. ______ is responsible for the financial operations of the organization.

A. CEO

B. CMO

C. CFO

D. CA

Answer: CFO (Chief Financial Officer)

5. The primary objective of management accounting is to ______

A. furnish management with complete and true information

B. supply profit and loss details to stakeholders

C. manage company accounts and improve sales

D. cut the operation cost to provide more savings

Answer: furnish management with complete and true information

6. The use of management accounting is ______

A. mandatory

B. compulsory

C. most essential

D. optional

Answer: optional

7. ____ is the type of accounting.

A. cost accounting

B. management accounting

C. financial accounting

D. all of the above

Answer: all of the above

8. Management accounting helps ______ to make decisions.

A. Customers

B. Investors

C. Managers

D. Banks

Answer: Managers

9. Management accounting can be viewed as __________.

A. Marketing-oriented Accounting

B. Management-oriented Accounting

C. Accounting-oriented Management

D. Manager-oriented Accounting

Answer: Management-oriented Accounting

10. ________ is the language of Business which is used to communicate financial information.

A. Accounting

B. Marketing

C. Profit

D. Pricing

Answer: Accounting

11. The term management accounting was first coined in ____.

A. 1940

B. 1950

C. 1960

D. 1970

Answer: 1950

12. Which is the sub-field of accounting?

A. Management accounting

B. Cost accounting

C. Financial accounting

D. All of the above

Answer: All of the above

13. 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

Answer: To ascertain analyse and interpret the results of business operations

14. ____________ is the study of managerial aspects of financial accounting

A. Cost accounting

B. Financial accounting

C. Management accounting

D. Business accounting

Answer: Management accounting

15. The purpose of management accounting is to help ______ make decisions

A. managers

B. investors

C. marketers

D. banks

Answer: managers

16. Managerial accounting information is generally prepared for _______

A. managers

B. stakeholders

C. government agencies

D. competitors

Answer: managers

17. _________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

Answer: Management accounting

18. 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

Answer: Operational

19. Management accounting provides information to management so that planning organizing 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

Answer: Planning organising directing controlling

20. 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

Answer: All of the above

21. Management accounting assists the management in_______

A. planning

B. directing

C. Controling

D. All of the above

Answer: All of the above

22. Management accounting is mainly applicable to _______entities.

A. nonprofit

B. service

C. manufacturing

D. All of the above

Answer: All of the above

23. 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

Answer: All of the above

24. The origin of the term Management Accounting goes back to the year _______

A. 1950

B. 1939

C. 1929

D. 1896

Answer: 1950

25. 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

Answer: Evaluation and control of performance

26. Which is NOT an advantage of Management accounting?

A. Economic appraisal

B. Helps in decision making

C. Influenced by personal bias

D. Facilitates communication

Answer: Influenced by personal bias

27. Goodwill is one of the _______

A. Current assets

B. Tangible assets

C. Intangible assets

D. Liquid assets

Answer: Intangible assets

28. The concept of management accounting was introduced by ______

A. Arthur Andersen

B. James H. Bliss

C. William Beaver

D. Herman Bevis

Answer: James H. Bliss

29. 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

Answer: presentation of account data

30. Salary is one of the ________

A. Direct expenses

B. Non cash expenses

C. Capital expenses

D. Revenue expenses

Answer: Revenue expenses

31. Wealth maximization is a _________

A. short term concept

B. temporary concept

C. long term concept

D. outdated concept

Answer: long term concept

32. 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

Answer: all management functions

33. _______ mainly deals with the accounting & reporting of information to management regarding the detailed information.

A. cost accounting

B. financial accounting

C. management accounting

D. traditional accounting

Answer: management accounting

34. Management accounting is mainly _____

A. Future oriented

B. Past oriented

C. Customer oriented

D. Bank oriented

Answer: Future oriented

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