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Each question may be MORE than one answers

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Each question may be MORE than one answers. Please answer carefully. 1. The role(s) of management accountant in an organisation includes A. Preparing cash budget to forecast future cash inflows and outflows. B. Deciding which products to be produced due to insufficient resources. C. Preparing financial statements according to the accounting standards. D. Review tax computation before submission to the tax authority. 2. Which of the following example(s) is/are quantitative information? A. The cost of raw material A is RM100 per kg. B. Score of 4 out of 5 for customer satisfaction survey for the service provided by employee B. C. Rate of inflation has increased by 0.5% in Country C. D. 6 labour hours are needed to product one unit of Product D. 3. Which of the following change(s) of business environment has impact on management accounting system? A. The growth of service sector and therefore service costing is becoming more important. B. Production process has become more simplified and therefore traditional absorption costing is sufficient to measure costs accurately. C. Products in general have longer life cycle due to an improvement in production technology. Therefore, life cycle costing is needed. D. Business needs to focus more on customer satisfaction and therefore new management accounting techniques such as Total Quality Management (TQM) emerged. 4. Which of the following advantage(s) of Activity Based Costing (ABC) as compared to traditional absorption costing is/are correct? * A. ABC system could generate more accurate costing information as it allocates cost based on cause and effect basis.. B. ABC system is simple to operate as the number of transaction based cost drivers are far lesser as compared to volume based cost drivers in traditional absorption costing C. ABC system is very flexible as its application could be used for both production and non-production overheads. D. ABC system is inexpensive as no special training is needed to implement the system. 5. Which of the following qualitative factor(s) to consider in the make or buy decision? * A. The purchase price of supplier. B. Employees' morale due to loss of work to an outside supplier. C. Quality of product to be purchased from supplier. D. Timing of delivery of product by supplier. 6. Which of the following statement(s) regarding decision making is/are correct? * A. A one off contract should be accepted if the contract price is higher than relevant cost. B. If the relevant cost of making is higher than the relevant cost of buying, the decision is to make the product provided there is no resource constraint. C. If the attributable profit of a product is positive, the decision should be to continue producing that product. D. Pre-separation point cost is a relevant cost and should be taken into consideration in a further processing decision.

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