Management Accounting – Set 8 January 29, 2025 by aasi 0% Report a question What’s wrong with this question? You cannot submit an empty report. Please add some details. 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950 Management Accounting – Set 8 Dear ! This is Management Accounting – Set 8 Quiz and it contains 50 questions. Keep Learning! 1 / 50 1) An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as external accounting internal accounting business accounting financial accounting 2 / 50 2) Graph which plots series of successive observations of specific procedure, operation or step at regular time intervals is called relevant costing diagram cause and effect diagram control chart pareto diagram 3 / 50 3) If cost of direct materials use in goods sold is $5000 and total revenues are $9000 then throughput contribution would be $5,000 $14,000 $4,000 $9,000 4 / 50 4) Costs incur for defective products, before their shipment to customers can be categorized as prevention costs external failure costs appraisal costs internal failure costs 5 / 50 5) If value added manufacturing time is 65 minutes, total manufacturing time is 80 minutes, then manufacturing cycle time will be 0.8125 0.6125 0.9125 1.725 6 / 50 6) Cost management technique which specially addresses strategic issues is classified as address management issue management strategic cost management managerial cost 7 / 50 7) Function of plant manager, in which he is responsible for new assets investment is termed as line function staff function asset function investment function 8 / 50 8) Costs that are incurred to find manufactured products, which does not meet specifications are called prevention costs external failure costs appraisal costs internal failure costs 9 / 50 9) Type of accounting, which reports financial and non-financial data about cost of material and acquiring of resources is classified as material accounting cost accounting supplies accounting business accounting 10 / 50 10) Revenues are subtracted from cost of direct materials of sold goods is to calculate throughout contribution operating cost contribution operating contribution marginal contribution 11 / 50 11) Basic aspects of product quality must include the design quality conformance quality scorecard quality both a and b 12 / 50 12) Fishbone diagram is an example of relevant costing diagram cause and effect diagram control chart Pareto diagram 13 / 50 13) A process by which employees can make decisions is divided by total number of processes to calculate employee turnover ratio employee empowerment ratio employee satisfaction ratio employee training percentage 14 / 50 14) Human resource management, IT management and management accountants are categorized under marketing management production management staff management line management 15 / 50 15) An implementation of planning decisions and evaluating performance is classified as control evaluation deciding performing 16 / 50 16) Cost operations such as wages, salaries, depreciation, utilities and rent are summed together to calculate throughput costs investments operating costs marginal costs 17 / 50 17) Statistical quality control is also called statistical process control statistical failure control statistical control of prevention cost statistical control of sunk cost 18 / 50 18) Total manufacturing time is multiplied to manufacturing cycle efficiency to calculate manufacturing cycle efficiency value added manufacturing time responding time delivery time 19 / 50 19) Costs that are incurred to prevent low quality goods production are classified as costs of quality costs of learning costs of reengineering costs of spoilage inventory 20 / 50 20) Formal way of differentiating, between non-random and random variations, in manufacturing process is classified as statistical process control statistical failure control statistical control of prevention cost statistical control of sunk cost 21 / 50 21) If number of employees who left job is 40, total number of employees are 200, then employee turnover ratio will be 0.6 0.5 0.2 0.7 22 / 50 22) Sum of manufacturing and waiting time for an order is classified as manufacturing efficiency time manufacturing cycle time respond ing time value chain time 23 / 50 23) Quality aspect, that refers how well product fulfils customer demands, is classified as learning quality design quality conformance quality business process quality 24 / 50 24) Number of employees that indicate high ratings of satisfaction, divided by number of surveyed employees are to calculate employee satisfaction employee turnover employee training employee failures 25 / 50 25) If total number of employees surveyed are 200 and employees that indicate higher rating for satisfaction are 195, then employee satisfaction would be 94.00% 93.00% 95.00% 97.50% 26 / 50 26) Reduction in setup time, manufacturing cycle efficiency and average time of manufacturing for key products are examples of measures of growth and learning measures of internal business processes customer measures financial measures 27 / 50 27) Employees that are trained to manage bottlenecks, during production operations and employee satisfaction are related to measures of growth and learning measures of internal business processes customer measures financial measures 28 / 50 28) Type of accounting which reports to external parties of organization is known as cost accounting decision accounting financial accounting management accounting 29 / 50 29) Carrying costs of inventories and price discounts related to delayed deliveries are examples of measures of growth and learning measures of internal business processes customer measures financial measures 30 / 50 30) An engineering of products or detailed planning of products or services is called product design research steps useful chain value added 31 / 50 31) Cost incur for defective products, after their shipment to customers is classified as prevention costs external failure costs appraisal costs internal failure costs 32 / 50 32) Consumed time to deliver a complete order to its customers is termed as responding time value chain time delivery time manufacturing cycle efficiency 33 / 50 33) Purpose of financial accounting is communicating company position to investors helping managers make decisions future oriented single person orientation 34 / 50 34) Type of accounting which measures, reports and analysis non-financial and financial information to help in decision making is called financial accounting management accounting cost accounting decision accounting 35 / 50 35) In financial accounting, an emphasis and focus is considered as communication oriented bank oriented future oriented past oriented 36 / 50 36) A product performance in comparison to its features and design is classified as learning quality design quality conformance quality business process quality 37 / 50 37) Sum of cost of direct materials, costs of buildings, equipment, research and development costs is classified as throughput costs investments operating costs marginal costs 38 / 50 38) On-time performance and customer-response time are examples of customer measures financial measures measures of growth and learning measures of internal business processes 39 / 50 39) Time between a customer’s order placement till customer receives its delivery is known as manufacturing lead time manufacturing cycle time customer response time system process time 40 / 50 40) Incurred costs to exclude production of goods, that do not meet specification, are called rework costs prevention costs incremental costs reengineering costs 41 / 50 41) A theory which describes techniques of operating income maximization, facing with non-bottleneck and bottle neck operations is theory of contribution theory of constraints theory of conflicts theory of maximization 42 / 50 42) Continuous pressure of reducing cost of products to be sold is classified as supply efficiency material affectivity processing effective cost and efficiency 43 / 50 43) In cost benefit approach, type of costs include cost of ongoing operations investments in physical assets training of managers all of these 44 / 50 44) Timeframe between placement of order until a finished good produces is classified as customer response time manufacturing lead time manufacturing cycle time both b and c 45 / 50 45) Types of costs of quality consist of appraisal costs internal and external failure costs prevention costs all of these 46 / 50 46) Number of employees who left company, divided by average number of employees to calculate ratio is called employee turnover ratio employee empowerment ratio employee satisfaction ratio employee training percentage 47 / 50 47) An approach in which managers use resources to increase customer value is classified as help management cost management past management future management 48 / 50 48) Process of analyzing and reviewing financial records to check integrity of company financial reports is a/an internal audit external audit functional audit treasury audit 49 / 50 49) In value chain analysis, selling and promotion to prospective customers is classified as researching marketing acquaintance usefulness 50 / 50 50) If number of processes, in which employees who can make decisions are 20 and number of processes are 50, then employee empowerment ratio will be 0.9 0.4 0.3 0.8 Your score isThe average score is 0%🎉 Challenge alert! 💡 Share this quiz with your friends and see who scores the highest! 🏆🤩🔥 LinkedIn Facebook Follow Us @ 0% Restart quiz Exit We’d love to hear your thoughts! 📝 Share your valuable review with us. 🙌 🌟 Thank you for your support! 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