Q. The term current assets does not include
✅ Correct Answer: (C)
long term deferred charges
Accounting for Management MCQs and Notes
Q. The following is a recorded fact
✅ Correct Answer: (B)
debtors
Q. The term fixed assets includes
✅ Correct Answer: (B)
furniture
Q. ……………….are the statements, in which figures reported are converted into percentages to some common base.
✅ Correct Answer: (B)
common size statements
Q. ………………. are prepared so as to provide time perspective to the consideration of various elements of financial position embodied in such statements.
✅ Correct Answer: (A)
comparative statements
Q. ………….analysis is useful in comparing performance of several companies in the same group, or division or department of the same company.
✅ Correct Answer: (A)
vertical analysis
Q. ……………..type of analysis is based on the data from year to year rather than on one date, and also termed as dynamic analysis.
✅ Correct Answer: (B)
horizontal analysis
Q. Prime costs may be defined as
✅ Correct Answer: (B)
the total direct costs of manufacturing a product
Q. Responsibility accounting aims to …………….
✅ Correct Answer: (A)
ensure that costs become the responsibility of a specific manager
Q. An investment centre is a responsibility centre where the manager has control of ………………
✅ Correct Answer: (C)
costs profits and assets