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Cost Accounting Week 1 Introduction Flashcards | StudBud

Explore/Cost Accounting Week 1 Introduction

Cost Accounting Week 1 Introduction

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Cost Accounting Week 0 Self Study Material Recap

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Questions 10

Answers

1
Value adding management decisions are related to all except
Planning
Organising
Controlling
Directing
2
It is important to study cost as it impacts
Decision Making and Strategy
all of the above
Production Quantity
Selling Price & Profit
3
Key success factors measure the performance of the organisation. Which of these is not a KSF.
innovation and Sustainability
Ethics and Corporate Social Responsibility
Time and Quality
Cost & Efficiency
4
Value chain comprises of core and support activities. Identify the support activity.
Marketing
Production
Research and Development
Human Resources
5
Which of the following statement is not true
MA is future orientied
MA reports are product, department or process level
The purpose of MA is to enable Decision Making
The primary users of MA are the investors
6
Which of these statement is not true:
MA has a time horizon as low as an hour
Management Accounting has internal focus
Management accounting guides the behavior of the managers
Management accounting is strictly governed by rules
7
Which is not a sub component of Directing
Analysis
Costing
Scorecard
Production
8
What is not true about Value Creation
Core of cost accounting process
happens only internally and not externally
happens at every stage of internal and external process
determined by the customers experience
9
Cost is the value of everything except
Money
Effort & Time
Resources & Utilities
An opportunity foregone
10
Which is not a sub-components of Planning
Monitoring
Positioning
Strategy
Budgets