Accounting Practice MCQ Page 22
Multiple Choice questions for Accounting in the sets of 10 each on one page with questions and answers. All sets are useful in the preparation of subject tests for employment or admission.
Question: 1943 The amount of under-applied or over-applied cost for january
- Under-applied by RS. 1,000
- under-applied by rs. 2,000
- over-applied by RS. 1,000
- Over-applied by RS. 2,000
- Neither under-applied nor over-applied
Question: 1955 in flexible budgeting
- statements included in the budget report vary from period to period
- budget standards may be adjusted at will
- reporting dates vary according to the activity level reported upon
- planned activity level is adjusted to the actual activity level before the budget comparison report is prepared
Question: 1963 The fixed-variable cost classification has a special significance in the preparation of
- Flexible budget
- Master budget
- cash budget
- capital budget
Question: 1966 If a company wishes to establish a factory overhead budget system in levels, it should prepare a
- Flexible budget
- Master budget
- cash budget
- Fixed budget
Question: 1968 Of little or no relevance in evaluating the performance of an activity would be
- Flexible budget
- Flexed budget
- difference between planned and actual results
- planning and control of activities
Question: 1994 The budget for a specific activity level during a year was Rs. 50,000, while actual costs for the same period was Rs. 45,000. Considering these facts, it can be said that the plant manager has done a better than expected job in controlling the costs if
- the cost is variable and actual production was 80% of budgeted production
- the cost is variable and actual production was 90% of budgeted production
- the cost is variable and actual production equalled budgeted production
Question: 1997 THE budget that is set first and all the other budgets are subordinate to it, is
- Cash budget
- Master budget
- capital expenditure budget
- Budget for the key factor
- sales budget
Question: 1999 The success of a flexible budget depends upends upon careful study and classification of expenses into
- historical and predetermined
- manufacturing, administrative and selling is
- fixed, variable and semi-variabie
Question: 2000 one of the most important tools of cost planning is
- cost sheet
- unit cost
- direct cost
- budget
Question: 2001 A is a prediction of what will happen as a result of a given set of circumstances
- Forecast
- Budget
- Marginal cost
- None of these
Question: 2002 A budget which lays more stress on control aspect is a an
- operating budget
- responsibility budget
- flexible budget
- financial budget
Question: 2003 which of the following is usually a long-term budget
- Sales budget
- cash budget
- capital expenditure budget
- fixed budget
Answers to the questions of Accounting on this page
Following list gives the correct choice for the answer of the Accounting mcqs.
1943 . B
1955 . D
1963 . A
1966 . A
1968 . D
1994 . C
1997 . D
1999 . C
2000 . D
2001 . A
2002 . B
2003 . C
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