Q. ……………explains what has happened to a business unit as a result of operations between two balance sheet dates.
✅ Correct Answer: (C)
both of these
Accounting for Management MCQs and Notes
Q. ……………..is the process of identifying the financial strengths and weakness of the firm by properly establishing relationship between the items of balance sheet and Profit and Loss Account
✅ Correct Answer: (B)
financial analysis
Q. ………..Accounting is concerned with historical data
✅ Correct Answer: (C)
financial accounting
Q. Which among the following is not a management accounting technique?
✅ Correct Answer: (D)
none
Q. ………..is the process of accounting for cost which includes the application of cost control methods and ascertainment of profitability of activities
✅ Correct Answer: (C)
cost accounting
Q. ………………..is the technique and process of ascertaining costs
✅ Correct Answer: (C)
cost accounting
Q. …………….is the amount of expenditure [actual or notional] incurred on or attributable to a given thing.
✅ Correct Answer: (C)
cost
Q. Management accounting has a ……….. scope than cost accounting.
✅ Correct Answer: (A)
wider
Q. Cost Accounting and Management Accounting are ……………….. in nature.
✅ Correct Answer: (A)
complementary
Q. Accounting designed to serve parties external to the operating responsibility of the firm is termed as…………….
✅ Correct Answer: (B)
financial accounting