MANAGEMENT ACCOUNTING
Price:
Rs500
Q1. If the variable cost(VC) be Rs 5 and the sales revenue(SR) be Rs 8 then the V/V ratio is given by
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1.6
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3
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40
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0.625
Q2. Re-order level =
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Minimum level + (normal usage * average delivery time)
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(Daily usage + lead time) * safety stock
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(Daily usage * lead time) + average stock
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(Average stock level – minimum level)/2
Q3. Acid test ratio is the ratio between
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Quick assets and current liabilities
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Net credit sales and average debtors
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Cost of goods sold and average inventory
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None
Q4. In select account standards AS-17 is a
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Related party disclosure
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Segment reporting
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Discontinuing operation
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Interim financial reporting
Q5. Ledger is
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A kind of payment
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A kind of strategy
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A book in which bank accounts are kept
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It is a receipt of selling
Q6. Which of the following industries does not use process costing?
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Oil refineries
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Distilleries
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Sugar
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Chemical
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Aircraft manufacturing
Q7. The demand curve is also called the
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Total revenue curve
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Marginal revenue curve
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Average revenue curve
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Marginal cost curve
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Profit curve
Q8. To decrease the Break Even Point one must
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Increase the fixed Cost
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Decrease the unit contribution
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Decrease the selling price
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Increase variable Cost
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Decrease fixed Cost
Q9. Rent to be paid for a factory premises is an example of
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Discretionary Cost
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Programmed Cost
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Future Cost
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Committed Cost
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Opportunity Cost
Q10. Performa statements are otherwise called as
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Master budget
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Capital budget
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Strategic plan
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Rolling budget
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There is no such budget
Part Two:
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Define ‘Liquidity Ratio’.
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Define ‘Debt Equity’ ratio.
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What do you mean by ‘Batch costing’?
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Explain ‘The margin of safety’.
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Based on the financial analysis, what recommendation would you, as the finance manager, make to the CEO of PCL?
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Managerial accounting information is sometimes described as a means to an end whereas financial accounting information is described as an end in itself. In what sense is this true?
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Absorption and variable costing are two different methods of measuring profit and valuing inventory. Explain.
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