Management Accounting Quizzes, Questions & Answers

Top Trending Quizzes

Here we bring you an ACCA F5 Certification exam practice test. One of the basic skills needed, regardless of the type of business opened, is to do proper accounting for either reporting or record-keeping purposes. ACCA is a...

Questions: 45 | Attempts: 3746 | Last updated: Mar 22, 2023

Sample Question
The following costs have arisen in relation to the production of a product: (i) Planning and concept design costs (ii) Testing costs (iii) Production costs (iv) Distribution and customer service costs In calculating the life cycle costs of a product, which of the above items would be included?

(iii) only

(i), (ii) and (iii) only

(i), (ii) and (iv) only

All of the above

F2 Assessment 2

F2 ASSESSMENT 2 evaluates understanding of costing principles in business scenarios. It tests skills in absorption and marginal costing, labor efficiency, and direct labor cost management, essential for accounting and financial...

Questions: 30 | Attempts: 805 | Last updated: Mar 22, 2023

Sample Question
A company manufactures and sells a single product. Next year the budgeted total fixed production costs are $480,000, budgeted sales are 24,000 units and budgeted production is 25,000 units. The budgeted profit for next year using absorption costing principles is $57,500. What is the budgeted profit for next year using marginal costing principles?

$38300

$76700

$37500

$77500

Management Accounting Quiz Questions And Answers

Are you ready to dive into the world of management accounting? This intriguing 'Management Accounting Quiz' is specifically crafted to test your knowledge and understanding of key concepts in accounting management....

Questions: 20 | Attempts: 15328 | Last updated: Aug 26, 2024

Sample Question
The term management accountancy was first used in___________

1950

1939

1910

1947

Accounting 202: Management Accounting! Quiz

Are you familiar with management accounting? Would you like to try this quiz? In managerial accounting, managers utilize accounting information to better inform themselves before making decisions about their organizations, which...

Questions: 28 | Attempts: 933 | Last updated: Mar 21, 2023

Sample Question
Which of the following statements is TRUE with respect to variable costs per unit?

They will decrease as production increases within the relevant range

They will increase as production decreases within the relevant range

They will remain the same as production levels change within the relevant range

They will decrease as production decreases within the relevant range

Accounting For Management And Sources Of Data

The questions are set as per ACCA standards and are hence worded to confuse students. You can access your total score and the correct answer to each question immediately after submitting your answers. Number of Questions:...

Questions: 10 | Attempts: 187 | Last updated: Mar 22, 2023

Sample Question
Which of the following statements are true? (i) The main users of financial accounting information are external to an organisation. (ii) Cost accounting is that part of financial accounting which records the cash received and payments made by an organisation.

Statements (i) and (ii) are both correct.

Only statement (i) is correct.

Only statement (ii) is correct.

Recent Quizzes

ACCA F2: Management Accounting Test! Trivia Quiz

Enter your name and email address to take the Free MCQ Test on ACCA F2 / FIA FMA. Number of Questions: 15 questions Time Available: 36 mins Your score will be available instantly along with the correct answers to all...

Questions: 14 | Attempts: 3744 | Last updated: Mar 22, 2023

Sample Question
Which of the following statements are true? The main users of financial accouting information are external to the organisation. Cost accounting is that part of financial accounting which records the cash received and payments made by an organisation.

Statements 1 and 2

Only statement 1

Only statement 2

Management Accounting Exam 3: Chp 12, 13,14, 15

This Management Accounting Exam covers critical decision-making aspects in business, focusing on material reworking, product viability, division performance, and investment analysis. It assesses skills in cost management,...

Questions: 24 | Attempts: 135 | Last updated: May 7, 2024

ACCA F5: Ch 5 - Make Or Buy And Other Short-term Decisions

ACCA F5: Ch 5 - Make or buy and other short-term decisions

When it comes to production some of the input used can either be too expensive or affordable to make therefore leading to the decision of whether to buy or make. How good are you at analyzing the costs of these two and...

Questions: 23 | Attempts: 480 | Last updated: Mar 21, 2023

Sample Question
The three elements of relevant costs:

Cash flows

Future costs and revenues

Differential costs and revenues

Depreciation costs

Past costs and revenues

ACCA F5 - Cost Volume Profit Analysis

Changes in the cost and volume of a product have an effect on the net income from an investment or production. Having a proper understanding on how these two increase or decrease profits can help put your business on the...

Questions: 5 | Attempts: 397 | Last updated: Mar 21, 2023

Sample Question
The following underlying assumptions will limit the precision and reliability of a given cost-volume-profit analysis.

The behaviour of total cost and total revenue has been reliably determined and is linear over the relevant range

All costs can be divided into fixed and variable elements

Total fixed costs remain constant over the relevant volume range of the CVP analysis

Total variable costs are directly proportional to volume over the relevant range

Selling prices are to be unchanged

Prices of the factors of production are to be unchanged (for example, material, prices, wage rates).

Management Accounting For 10th Grade Quiz

Management Accounting For 10th Grade quiz

Management accounting involves preparing timely and accurate managerial reports and accounts that help managers to make day to day decisions about the operations of a business. Having covered the basics in class you...

Questions: 27 | Attempts: 340 | Last updated: Dec 12, 2024

Sample Question
Which of the following components are part of SAP CO? (4 correct answers)

Cost Center Accounting

Maintenance Orders

Product Cost Controlling

Cost Element Accounting

Activity Based Costing

Profit Center Accounting

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