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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