Symbiosis International Education Centre 2009 Post Graduate Diploma Information Technology Management Accounting - Question Paper

SCDL Management Accounting Sem-I

LIST OF ATTEMPTED ques. AND ANSWERS
True/False
ques. Balance sheet is a part of the ledger accounts maintained by the company.
accurate ans False
Your ans False
True/False
ques. The true hours taken by the labour are compared with the standard hours allowed for output to obtain out
the labour yield variance.
accurate ans actual
Your ans actual
choose The Blank
ques. Preparation of direct material ________ budget is the responsibility of the Purchase manager.
accurate ans Purchase
Your ans Purchase
choose The Blank
ques. The principle of ________ is followed while preparing the financial statements.
accurate ans Going concern
Your ans Going concern
True/False
ques. Depreciation can be described as a permanent, continuous and gradual reduction in the book value of a fixed
asset.
accurate ans actual
Your ans actual
True/False
ques. Accounting is an art of recording, classifying & summarizing in a significant manner.
accurate ans actual
Your ans actual
choose The Blank
ques. Interest receivable is a________ for the organisation.
accurate ans Current sset
Your ans Current sset
Multiple option Single ans
ques. As a part of the data presented in support of a proposal to icnrease the production of clock radios, the sales
manager of Wittman Electronics reproted the total additional cost needed for the proposed increased production level.
The increase in total cost is known as :
accurate ans Incremental cost
Your ans Incremental cost
True/False
ques. The role of the budget committee may be taken as an advisory role to the Chief Executive.
accurate ans actual
Your ans actual
True/False
ques. Accounting refers to the process of analyzing & interpreting the info already recorded in the books
of accounts.
accurate ans actual
Your ans actual
True/False
ques. Profitability statement shows the amount of assets & liabilities.
accurate ans False
Your ans False
True/False
ques. Uniform costing system is described as a system using common concepts and standard accounting practices
by various entities in various industry to facilitate inter-firm comparison.
accurate ans actual
Your ans actual
choose The Blank
ques. Budgeted profit and loss account and budgeted balance sheet are also known as ________.
accurate ans Master budget
Your ans Master budget
True/False
ques. Balance sheet shows the expenditure & income from the business.
accurate ans False
Your ans actual
Multiple option Single ans
ques. 200 units of material were purchased from X @ Rs.5/- per unit and 300 units were purchased from Y @
Rs.6/- per unit. The organisation follows FIFO system of pricing of problems and the above purchases have been recorded
in stores ledger. 120 units have already been issued. 60 units received from X are defective and are therefore returned.

Earning:   Approval pending.