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of Commerce and Management MBA I Semester Online Mid Bits
Accounting for Management
1. What type of planning Indian business families are doing? a) Forward b) Family c) Succession d) Joint 2. In addition to Place, Labor and Money which other internal environment Factor influences Management? a) Technology b) Machines c) Scientists d) Professionals 3. Science is a body of which type of Knowledge? a) Assimilated b) Organized c) Superior d) Specific 4. Management is purposeful and what? a) Objective b) Progressive c) Goal oriented d) Universal 5. Management exists at which levels of the organization? a) Top b) Bottom c) Decision-making d) All 6. Profession requires definite period of what?
The internal environment factors that influence management are a) Labor b) Climate c) Machines d) Place 11.a) Practice b) Discipline c) Understanding d) Learning 7. The external environmental factors that influence management are a) Economic changes b) Political c) Technological d) Money 12. ³Management is management of Men. Professional managers help organizations in chalking out which type of strategies? a) Multidisciplinary b) Competitive c) Corporate d) Academic 8. Management is multi disciplinary. it includes knowledge/ information from a) Economics b) Math¶s c) Physiology d) Psychology 10. Machinery Materials and Information?´ a) Anon ymous b) Technological . Features of Management are as follows a) Goal oriented b) Universal c) continuous process d) Non-continuous process 9. Money.
Science and . One of the external environment factors that influences Management is a) Legal b) Political c) Technological d) Money 17. ³Management is a multiple organ that manages a business.Management is a) Creative b) An Art c) Science d) Art and Science 18. ³Management is the creation and maintenance of internal environment in an enterprise. manages a manager and manages workers and work´? a) Peter Drucker b) Elton Mayo c) A and B d) All of the above 15.c) Money d) Machines 13. Cost is based on the following factors: a) Volume of production b) Product mix c) Size of batches d) All of the above 16. where individuals working in groups can perform efficiently and effectively towards the attainment of grade a) Koontz & O µDonell b) Peter Drucker c) Adam Smith d) Non of the above 14.Management is the combination of Arts.
b) predictive power c) cause and effect relationship d) All of the above 21. entertainment co's and Information communicating (CEI) b) Information communicating and entertainment co's (ICE's) c) Entertainment. and communicating (EIC) d) Communication 22. The forms of companies in the service sector in our new economy are essentially a) Communicating. Information. a discipline. a task. The various characteristics of science a) organized knowledge.a) Profession b) Technological c) Money d) None of the above 19. How many approaches are following to a CVP analysis? a)Two b) One c) Three d) Four 24. a) Punctuality b) Management c) Both d) All 20. The word________denotes a function. What percentage does the organized sector within the retailing sector represent? a) 1% b)3% c) 2% d) 0% 23. What is sold when an insurance policy is sold? a) Permission .
_________________ is also called the statement of financial position. a) Labour of work b)Division of work c) control of work d) All of the above 27. a)Stockholders¶ equity b) Liabilities c) Assets d) Retained earnings .______________ is (are) economic resources that are expected to benefit future activities. a) The income statement b) The balance sheet c)The statement of retained earnings d) The statement of cash flows 29.Any event that affects the financial position of an organization and requires recording is called: a) a transaction b) an account c) a posting d) an accounting change 28. The specialization where the economists consider necessary for efficiency in the use of labour. Who is the 'founder of Human Relation'? a) Drucker b) Peter Drucker c) Adam Smith d) Elton Mayo 26.b) Pass c) Fail d) Promise25.
900 credit balance d)RM7.800 debit balance RM8.000 .(1/3 x RM3. c)Liabilities are economic obligations or claims against the assets of an organization by outsiders. b)Assets are economic resources which are expected to benefit future cash inflows or reduce future cash outflows. 2. the excess of the assets over the liabilities is called: a)retained earnings b)paid-in capital c)common stock d)owners¶ equity 31.300) = RM4.600 debit balance b)RM4.000 . leasehold improvements goodwill . a)Owners¶ equity solely represents the profits made by an organization in the current period.30.900 35. d)Assets must always equal the sum of liabilities and owners¶ equity.Identify which one of the following statements is false. 33.The entity¶s economic obligations to nonowners is(are) called: a)owners¶ equity b)liabilities c)assets d) retained earnings 32. The balance in the Cash account is: a)RM1. Which of the following would be considered a tangible asset? 1.900 debit balance c)RM4.RM2. Variable costs include the following: a) Direct materials b) Direct labor c) Direct chargeable expenses d) None of the above 34.For a corporation.
Which of the following is not a cost driver of customer services costs? a. 37. d. c.Number of department transactions is a good cost driver for salaries of product and supervisory salaries. d Hours spent servicing products are not a cost driver of customer services costs. Number of service calls is not a cost driver of customer services costs. land mineral deposits patent 1. d. Number of people supervised is a good cost driver for salaries of product and supervisory salaries. c. c. As the cost driver activity level decreases within the relevant range: a. d. a. and 5 36. 5. 4. 38.Number of customers served is a good cost driver for salaries of product and supervisory salaries. 4. All of the answers. total fixed costs increase fixed costs per unit decreases total variable costs decrease variable costs per unit decreases An increase in fixed costs usually indicates: cost driver activity is decreasing cost driver activity is increasing relevant range is increasing relevant range is decreasing . b. c. 3. b.3. Travel costs are not a cost driver of customer services costs. b. 39. c. b. and 4 2 and 4 2 and 5 2. a. Number of hours worked is a good cost driver for salaries of product and supervisorysalaries. d. Which of the following would be a good cost driver for salaries of product and supervisory salaries? a. b. 3.
c. c. mixed costs variable costs fixed costs step costs A thorough knowledge of cost behavior helps managers to: . 3. b. d) margin of safety contribution margin break-even point marginal income point 41. and total fixed costs areRM24. b. step cost fixed cost variable cost mixed cost Costs that change abruptly at intervals of activity because the resources and their costs come in indivisible chunks are called: a. d) equals planned unit sales less break-even unit sales shows how actual sales differ from planned sales is the sales price minus all the fixed expenses is the same as contribution margin 42.200 857 2. The margin of safety: a. d. b.000 1. the break-even point in units is: a.40. b. The level of sales at which revenues equal expenses and net income is zero is called the: a. c. b. 45. the unit contribution margin is RM8.000 units 43. If the sales price per unit is RM20. 44. d. c. which involves a flat rate per month plus a fee for extra usage. c.000 / RM8 = 3. 000. d.000 RM24. would be considered a: a. The cost of using the telephone.
b. 46. d) RM700 700 700 a variable cost a mixed cost a fixed cost a step cost 48. In a small construction firm. purely variable cost . The following three data points appear to be: Units Costs 100 110 120 a.a. RM400 440 480 a variable cost a mixed cost a fixed cost a step cost The following three data points appear to be: Units Costs 600 650 700 a. d. plan costs obtain feedback decide on the efficient use of resources All of these answers are correct. 47. This is an example of a: a. c. b. c. b. c. c. another crew supervisor is added for every 10 workers employed. purely variable cost discretionary fixed cost step cost mixed cost A lump sum amount of research and development planned for Senko Corporation would most likely be identified as a: a. d. b. d) 49.
b. b. d. b.______________ arise as a result of strategic decisions about the scale and scope of an organization's activities. depreciation bond interest payment property taxes advertising and promotion 51. d. but are determined as part of the periodic planning process. 53. c. d) Discretionary fixed costs Committed fixed costs Capacity costs Engineered costs 54. b.An algebraic equation used by managers to describe the relationship between a cost and its cost driver(s) is called a: . a. c. 50. Capacity costs Discretionary costs Mixed costs Engineered costs _____________ have no obvious relationship to levels of output activity. Costs arising from the possession of facilities. d) capacity costs discretionary costs committed fixed costs engineered costs 52. equipment. and a basic organization are: a. b. c. d. a. c. discretionary fixed cost step cost mixed cost A company could temporarily reduce or eliminate: a. c.
c. b. c. d) High-low analysis Visual-fit analysis Engineering analysis Simple least-squares regression identify relevant costs for decision making classify costs choose an appropriate cost driver predict future costs ____________ of approximating cost functions does not involve the analysis of past 58. b. b. 57.a. c. costs. cost prediction cost measurement activity analysis budgeting Selecting a volume. The process of identifying appropriate cost drivers and their effects on the costs of making a product or providing a service is called: a.related cost driver and classifying each account as a variable cost or a fixed cost is called: a. d. c. b. d) calculate annual gains and losses negotiate with supplies estimate future costs All of the above 56. d) cost behavior cost function budget cost analysis 55. 59.Cost prediction is used to: a. b. engineering analysis high-low analysis . c. d. calculate management compensation An activity analysis is used to: a. a. b.
no 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Ans c b b c d d c c d b a a a a d Q.no 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 Ans a c c b d c a a b c c c c d b . d. c. visual-fit analysis account analysis 60. Managers should apply two principles to obtain accurate and useful cost functions. d. plausibility and believability plausibility and reliability reliability and validity believability and validity Q.c. b.no 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Ans a a a b d b c c d d d a b c d Q. These principles are: a.no 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 Ans b a d b a b b c c c a a d d c Q.
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