Q. For calculating trend percentages any year is selected as:
✅ Correct Answer: (C)
Base year
Management Accounting MCQs and Notes
Q. To get to labour efficiency variance, the formula to be applied is
✅ Correct Answer: (C)
(Standard time - Actual time) * Standard rate per hour
Q. If the actual output is more than the budgeted output, volume variance is
✅ Correct Answer: (A)
Favourable
Q. In financial accounting, investors, banks, suppliers and government agencies are classified as
✅ Correct Answer: (A)
External parties
Q. In management accounting, an emphasis and focus must be
✅ Correct Answer: (B)
Future oriented
Q. The break even chart helps the management in…
✅ Correct Answer: (D)
All of the above
Q. The factor which limits the volume of output of different products of an understanding at a particular point of time is known as…
✅ Correct Answer: (A)
Key factor
Q. Direct material cost + direct labor cost + other variable costs is equal to…
✅ Correct Answer: (A)
Contribution
Q. Angle of incidence is the angle at which
✅ Correct Answer: (A)
Total revenue line intersects the total cost line
Q. Margin of safety is equal to
✅ Correct Answer: (A)
Actual sales – Sales at Breakeven point