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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________

Question A business is an activity carried out with the intention of earning the profit. Correct Answer True Your Answer True True/False Question Balance sheet indicates the financial status of the business at given period. Correct Answer True Your Answer True True/False Question Accounting refers to the process of analyzing & interpreting the information already recorded in the books of accounts. Correct Answer True Your Answer False True/False Question Accounting is an art of recording, classifying & summarizing in a significant manner. Correct Answer True Your Answer True True/False Question Profitability statement indicates the amount of assets & liabilities. Correct Answer False Your Answer False True/False Question Balance sheet indicates the expenditure & income from the business. Correct Answer False Your Answer False True/False Question Financial Accounting primarily protects the interests of the outsiders dealing with organization in various capacities. Correct Answer True Your Answer True Multiple Choice Single Answer Question __________ Accounting becomes a source of information for Management Accounting. 1
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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________ Correct Answer Financial Your Answer Cost True/False Question Patents and Trade Marks Account is a Real Account. Correct Answer True Your Answer False Multiple Choice Multiple Answer Question Money Measurement Concept__________________ Correct Answer Only those transactions and facts expressed in terms of money , This Concept imposes severe restrictions on the kind of information available from financial statements , Due to several restrictions it becomes drawback of financial accounting Your Answer Only those transactions and facts expressed in terms of money , This Concept imposes severe restrictions on the kind of information available from financial statements , Due to several restrictions it becomes drawback of financial accounting Multiple Choice Multiple Answer Question P/L A/C debit side includes Correct Answer salary , discount allowed , postage & telegram Your Answer salary , discount allowed , postage & telegram Multiple Choice Multiple Answer Question Profit & Loss A/C credit side has Correct Answer Gross profit , Commission received , Interested received Your Answer Gross profit , Commission received , Interested received Multiple Choice Single Answer Question A started business with cash 5000, building 5000, furniture 2000, having depreciation of 10% on building. The total amount of capital comes to Rs. __________ Correct Answer 11500 Your Answer 12000 Multiple Choice Single Answer Question Goods distributed as free sample amounted to Rs. 10,000. Prepare Neonboard Rs. 5000. The total amount transfer to advertisement account is Rs.____ Correct Answer 15,000 Your Answer 15,000 Multiple Choice Single Answer 2
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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________ Question The periodical total of sales book was cash short by Rs. 5000 for rectifying the same, which A/C to be debited Correct Answer Suspense A/C Your Answer Suspense A/C Multiple Choice Multiple Answer Question Following errors do not affect the trial balance Correct Answer Error of Principle , Error of Omission , Error of Commission Your Answer Error of Principle , Error of Omission , Error of Commission Multiple Choice Multiple Answer Question Following error affect the trial balance Correct Answer Wrong totaling of subsidiary books , Posting on the wrong side of an account , Omission of posting an account in the ledger Your Answer Wrong totaling of subsidiary books Match The Following Question Correct Answer Your Answer Error of Principle Trial Balance does not get affected Wrong Posting Error of Omission The transaction is totally omitted The transaction is totally omitted Error of commission Wrong Posting Wrong classification Compensating Error Wrong classification Trial Balance does not get affected Difference in trial balance Transferred to suspense account Transferred to suspense account True/False Question There is no need to open a suspense account if the trial balance does not agree. Correct Answer False Your Answer False True/False Question A contractors bill for the extension of premises amounting to Rs. 2750 has been debited to building repair account Correct Answer False Your Answer False Match The Following 3
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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________ Question Correct Answer Your Answer Opportunity Cost Cost can be controlled Return or yield Differential Cost Historical Cost Increase or Decrease in cost Sunk Cost Cannot be controlled Historical Cost Controllable Cost Increase or Decrease in cost Cost can be controlled Uncontrollable Cost Return or yield Cannot be controlled True/False Question Indirect material cost assist the manufacturing process is an integral part of finish goods. Correct Answer False Your Answer True True/False Question Dividend received is a Non-operating Income. Correct Answer True Your Answer True Multiple Choice Single Answer Question Company having opening stock of Rs. 1,80,000 purchase Rs. 8,00,000. Freight Inward Rs, 35000 & closing stock Rs. 2,00,000, having direct wages Rs. 2,35,000. What will be prime cost. Correct Answer 10,50,000 Your Answer 10,50,000 Multiple Choice Single Answer Question A Co. having factory cost of Rs. 13,10,800. The administrative overheads are salaries 40,000, rent & rates 6400, Traveling expenses 12,400, Depreciation 2400, Directors fees 24,000, General Charges 2 Correct Answer 14,59,200 Your Answer none of above Multiple Choice Multiple Answer Question Indirect Labour Cost Correct Answer Wages paid to storekeeper , Salary of works manager , Wages paid to gatekeeper Your Answer Wages paid to storekeeper , Salary of works manager , Wages paid to gatekeeper 4
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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________ Multiple Choice Multiple Answer Question Factory overheads are termed as Correct Answer Production overheads , Works overheads , Manufacturing overheads Your Answer Works overheads Multiple Choice Multiple Answer Question Selling and distribution overheads includes Correct Answer Indirect Material such as packing material, samples etc., , Indirect labour like salaries to sales personnel manager , Indirect expenses like warehouse charges, advertisement Your Answer Indirect expenses like warehouse charges, advertisement Multiple Choice Multiple Answer Question The aims of perpetual inventory system are as follows Correct Answer Maintaining Bin cards , Maintaining store ledger , Continuous verification of physical stock Your Answer Maintaining Bin cards , Maintaining store ledger , Continuous verification of physical stock Multiple Choice Multiple Answer Question These are the preventive costs of labour turnover. Correct Answer cost of maintaining good relations with the workers , Cost of medical services , cost of welfare facilities Your Answer Cost of medical services , training costs , cost of welfare facilities Multiple Choice Multiple Answer Question These are the features of variable overheads Correct Answer vary directly in proportion to volume of output. , per unit cost remains the same , total overheads may increase or decrease as per volume of output. Your Answer vary directly in proportion to volume of output. , per unit cost remains the same , total overheads may increase or decrease as per volume of output. True/False Question To take make or buy decision under the marginal costing , if purchase price of the product is less than its variable cost it is advisable to go for manufacturing proposition. Correct Answer False Your Answer False Multiple Choice Single Answer Question The cost that varies in direct proportion with the level of activity is called 5
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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________ Correct Answer variable cost Your Answer variable cost True/False Question The ultimate incorporation of all functional budgets takes the form of budgeted Profit & Loss Account and Balance Sheet. Correct Answer True Your Answer True True/False Question Flexible budget is an effective tool for evaluation of performance. Correct Answer True Your Answer True Multiple Choice Single Answer Question Calendar Variance arises only if there is abnormal increase or decrease in Correct Answer Actual number of working days Your Answer Actual number of working days Multiple Choice Single Answer Question Standard may not be necessarily useful for this purpose. Correct Answer Forecasting Your Answer Coordinating Multiple Choice Single Answer Question If during a month anticipated sales are 5,000 kg, opening stock is 1,000 kg and closing stock is 500 kg then what will be the quantity of production Correct Answer 4,500 kg Your Answer 4,500 kg Multiple Choice Single Answer Question For a unit, if opening stock of raw material is 10,000 units, closing stock of raw material is 5,000 units and consumption is 3,20,000 units, what will be the quantum of raw material to be purchased Correct Answer 3,15,000 Your Answer 3,15,000 Select The Blank Question Interest on overdraft charged by the bank is ________ to the pass book and ________ to the cash book Correct Answer debited Your Answer debited Correct Answer credited 6
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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________ Your Answer credited Select The Blank Question While selecting source of supply ________ epartment may call for the ________ from the prospective suppliers Correct Answer purchase Your Answer production Correct Answer quotation Your Answer quotation Select The Blank Question After material is received from the supplier, quantity actually received is compared with quantity ________-and ________-if any, are taken up with the supplier Correct Answer ordered Your Answer variation Correct Answer variation Your Answer ordered Select The Blank Question ________ and ________ are non monetary incentives Correct Answer Safety services Your Answer Safety services Correct Answer education facility Your Answer education facility Select The Blank Question Under the repeated distribution method the overheads of ________ department are distributed to other departments on agreed ________ Correct Answer service Your Answer production Correct Answer percentage Your Answer percentage Select The Blank Question variable cost is the cost that tend to ________ in direct proportion with ________ Correct Answer vary Your Answer vary Correct Answer level of activity Your Answer level of activity Select The Blank Question Variable costs are the controllable costs at the ________ level of the management whereas fixed costs can be controlled only on the ________ level 7
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SCDL- PGDBA- I Semester Management Accounting- Paper Code-103 _____________________________________________________________________ of the management Correct Answer Lower Your Answer Lower Correct Answer Top Your Answer Top Select The Blank Question ________ Legal charges and ________ are the accounts which are shown on the debit side of Profit & Loss Account Correct Answer Like office rent, Your Answer Audit fees Correct Answer Audit fees Your Answer Depreciation on Machinery

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