Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2007 M.B.A Financial and Management Accounting -university question paper

a. P/V ratio = change in profit X 100 b. P/V ratio = C/S
change in sales
c. P/C ratio = C/S d. All of the above

30. Graphical representation of cost & revenue showing their relations at various quantities of output is called _________.
a. Break even chart b. Break-even point
c. Margin of safety d. Profit/volume ratio

31. The establishment of budget relating responsibilities of executives to the requirements of a policy and continuous comparison of true with budgeted outcome is called:
a. Budget b. Budgeting system
c. Budgetary control d. All of the above

32. Fixed and flexible budgets are divided according to which category.
a. Scope b. Efficiency
c. Period d. None of the above

33. The consolidated summary of different functional budget is called:
a. Functional budget b. Flexible budget
c. Master budget d. Fixed budget

34. __________ is the target of every part of a organization.
a. Cost b. Profit
c. Budget d. All of the above

35. Budget lays down ________ for the future and budgetary control compares _________ with the budget and exercise control over activities and cost of the organization.
a. Policies, true performance b. Performance, plans
c. Budgeting, controlling d. None of the above

36. Budgeting is time consuming as well as length.
a. True b. False

37. ___________ is described as a budget designed to change in accordance with the level of activities truly attained.
a. Master Budget b. Current Budget
c. Flexible Budget d. Rolling Budget

38. Which of the subsequent is the advantage of budgetary control:
a. Master Budget b. Lays down objectives
c. Increase employee productivities d. All of the above

39. Match the following:
(i). The target of every part of an organization. (i) Budgeting
(ii). Process of preparing the budget. (ii) Budgetary control
(iii). Technique & process of fixing the target, preparing (iii) Budget
Budget & using as tool of planning and controlling.

40. __________ is an important tool of planning and cost control.

Earning:   Approval pending.