Question Paper Commerce
1. Managerial accounting information is generally prepared for......
A. Shareholders
B. Creditors
C. Managers
D. Regulatory agencies
Answer : C
2. Which of the following is not an internal user of management information?
A. Creditor
B. Department manager
C. Controller
D. Treasurer
Answer : A
3. Management accounting is applicable to:
A. Service entities
B. Manufacturing entities
C. Nonprofit entities
D. All of these
Answer : D
4. Creating Provision against fluctuation in the price of investment is an example of which accounting convention:
A. Convention of conservatism
B. Convention of full disclosure
C. Convention of materiality
D. Convention of consistency
Answer : A
5. The work of factory employees that can be physically associated with converting raw material into finished goods is classified as:
A. Manufacturing overhead
B. Indirect materials
C. Indirect labour
D. Direct labour
Answer : D
6. Double entry system is used in which type of accounting:
A. Cost
B. Financial
C. Management
D. All of these
Answer : B
7. Management accounting concentrates on ..............
A. Opening books of account
B. Preparation of financial statements
C. Control of business activities
D. None of these
Answer : C
8. Which type of asset class includes those assets which have only definite use and become valueless when the yield is over?
A. Fixed asset
B. Current asset
C. Fictitious asset
D. Wasting asset
Answer : D
9. An accounting that deals with the accounting and reporting of information to management regarding the detail information is:
A. Financial accounting
B. Management accounting
C. Cost accounting
D. Real accounting
Answer : B
10. The primary objective of management accounting is:
A. Prepare final a/c
B. Provide management complete and true information
C. Both A & B
D. None of these
Answer : B
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