The main aim of management accounting is to help management in its functions of _________.

A. planning
B. directing
C. controlling
D. all of the above

_______ is the act of choosing between manufacturing a product in house or purchasing it from an
external supplier.
A. Pricing decision
B. Make or buy decision
C. Budgeting decision
D. EOQ

In a make or buy decision, the most important factor(s) to consider is ________.

A. cost of production
B. availability of production capacity
C. marketing of the product
D. Both A & B

GAAP in financial accounting stands for _______

A. Globally Accepted Accounting Principles
B. Globally Accepted Accounting Practices
C. Generally Accepted Accounting Principles
D. Generally Accepted Accounting Provisions

An enterprise may decide to purchase the product rather than producing it if is _________.
A. cheaper to buy than make
B. cheaper to make than buy
C. costlier to buy than make
D. Both B & C

A ________ is the catalog of items one should sell at their business.

A. Price mix
B. Product Mix
C. Distribution mix
D. Promotion Mix

Optimizing product mix can ________ the profits.

A. minimize
B. stagnant
C. maximize
D. neither minimize nor maximize
Advantages of break even analysis includes ______.
A. optimum level of profit
B. self production
C. payment of dividend
D. all of the above.

A budget is a ________ financial plan.

A. Backward
B. Upward
C. Forward
D. All of the above

The excess of actual or budgeted sales over the break even sales are called ________.
A. margin of safety
B. factor of safety
C. profit
D. margin of exposure

Management accounting can be viewed as __________.

A. Marketing-oriented Accounting
B. Management-oriented Accounting
C. Accounting-oriented Management
D. Manager-oriented Accounting

________ is the language of Business which used to communicate financial information.

A. Accounting
B. Marketing
C. Profit
D. Pricing

The term management accounting was first coined in ____.

A. 1940
B. 1950
C. 1960
D. 1970

Which is the sub-field of accounting?

A. Management accounting
B. Cost accounting
C. Financial accounting
D. All of the above
The main objective of management accounting is _________
A. To maintain the accounting records
B. To know the amount due from customers and suppliers
C. To ascertain analyse and interpret the results of business operations
D. To record all the business transactions

____________ is the study of managerial aspects of financial accounting

A. Cost accounting
B. Financial accounting
C. Management accounting
D. Business accounting

The purpose of management accounting is to help ______ make decisions

A. managers
B. investors
C. marketers
D. banks

____shows how the accounting function can be represented so as to fit it within the framework of
Management activity.
A. Management accounting
B. Cost accounting
C. Financial accounting
D. Tax accounting cancer is Management accounting

The primary task of management accounting is, therefore, to redesign the entire accounting system so
that it may serve the ___________ needs of the firm.
A. Marketing
B. Operational
C. Human resource
D. Production

Decision-making is involved in the following function:

A. Planning
B. Organizing
C. Controlling
D. Leading
E. All of the above

Decision-making is an exclusive right of the following:

A. Top management
B. Middle management
C. Lower-level management
D. Operatives
E. None of the above