1. Which of the following is not management accounting information? A. Sales budget B. Variance report C. Payroll report

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1. Which of the following is not management accounting
information?
A. Sales budget
B. Variance report
C. Payroll report
D. Profitability report
2. Why is management information valuable for decision
making?
A. It enables management to make correct decisions.
B. It helps management to reach a more informed decision.
C. It can be used to judge whether the decision taken by
management was correct.
D. It enables managers to made decisions more quickly.
3. Which of the following is not correct?
A. Cost accounting can be used to for inventory valuation to
meet the requirement of internal reporting only.
B. Management accounting provides appropriate information for
decision making, planning, control, and performance evaluation.
C. Routine information can be used for both short-term and
long-run decisions.
D. Financial accounting information can be used for internal
reporting purposes.
4. Prime cost comprises__________________.
A. All variable costs.
B. Direct labour and material only.
C. Direct labour, direct material, and direct expense.
D. Direct labour, direct material, and production overhead.
5. A factory makes wooden chairs. Which of the following items
would be most likely to behave as stepped costs?
A. Wood used to make chairs.
B. Factory supervisors’ salaries.
C. Heating and light costs.
D. Staples to fix the fabric to the seat of the chair.
6. A company operates a retail supermarket chain selling a range
of grocery and household products. It has branches throughout the
country and is reviewing the range of goods to be stocked in each
of these branches. How might the company best analyse its
profitability for this purpose?
A. By area of the country.
B. By contract with each supplier.
C. By customer payment method.
D. By product line stocked.
7. Overhead allocation is the process
of____________________.
A. The charging of overhead to cost units.
B. The allotment of proportions of items of cost to cost centres
or cost units.
C. The charging of direct material to jobs.
D. The allotment of whole items of cost to cost centres or cost
units.
8. Production supervisory salaries are classed as production
overhead. Which is the most appropriate basis of apportioning this
cost to cost centres?
A. Number of units produced.
B. Machine hours.
C. Direct labour hours.
D. Number of machines.
9. A variance report comparing actual results achieved during a
month with the budgeted performance for the month is an example
of__________________.
A. Control action.
B. Feedback control.
C. Feedforward control.
D. Reporting by exception.
10. Which of the following factors should be the least likely to
affect a decision about whether to investigate a variance reported
during a particular month in the middle of the financial year? A.
Size of the variance.
B. Whether it is favourable or adverse.
C. Whether it is likely to be controllable.
D. The trend in the monthly variance over the year to date.