SCDL Management Information System Solved Assignments Papers

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



Multiple Choice Single Answer
Question
Internal information for MIS may come from
Correct Answer
all of the above
Your Answer
all of the above

Multiple Choice Single Answer
Question
External information from MIS may come from
Correct Answer
all of the above
Your Answer
all of the above

Multiple Choice Single Answer
Question
Functioning of business organization involves
Correct Answer
both
Your Answer
both

Multiple Choice Multiple Answer
Question
The increased business complexities could be attributed to
Correct Answer
technological changes , explosion of information , research and development
Your Answer
technological changes , explosion of information , research and development

Multiple Choice Multiple Answer
Question
Information is a resource because
Correct Answer
it is scarce , it has cost , it has alternate uses
Your Answer
it is scarce , it has cost , it has alternate uses

Multiple Choice Single Answer
Question
Data and storage instructions are stored for temporary period till processing is completed here
Correct Answer
primary storage
Your Answer
ROM

Multiple Choice Single Answer
Question
The business organization is normally designed in a
Correct Answer
pyramid structure
Your Answer
pyramid structure

Multiple Choice Single Answer
Question
MIS as a function should be flexible enough to respond to
Correct Answer
changing environment
Your Answer
changing environment

Multiple Choice Single Answer
Question
A combination of human and computer based resources which result in collection and use of data for purpose of efficient management and business planning
Correct Answer
marketing information system
Your Answer
marketing information system

Multiple Choice Multiple Answer
Question
Manufacturing as a functional sub - system will have the following functions
Correct Answer
Cost control analysis. , Sales forecasts. , Sales planning.
Your Answer
Cost control analysis. , Production planning and scheduling.

Multiple Choice Single Answer
Question
FAV is the short form of
Correct Answer
Fixed Asset Voucher.
Your Answer
Fixed Asset Voucher.

Multiple Choice Single Answer
Question
One of the following is a required field in the Debit note
Correct Answer
Inward Freight.
Your Answer
Inward Freight.

Multiple Choice Multiple Answer
Question
Following are the types of Payment Generation
Correct Answer
Voucher Generation , Bank Payment Voucher Generation
Your Answer
Voucher Generation , Bank Payment Voucher Generation

True/False
Question
The user department sends the indent directly to the purchase department.
Correct Answer
False
Your Answer
False

Select The Blank
Question
The ________ gives Transaction details to Account Payable System
Correct Answer
Journal
Your Answer
Journal

Multiple Choice Multiple Answer
Question
One of the following is the front end application in hospital industry
Correct Answer
patient database , linked database , medical case history database
Your Answer
patient database , medical server database , medical case history database

True/False
Question
The returns in the manufacturing sector are immediate as compared to the service sector.
Correct Answer
False
Your Answer
False

True/False
Question
The choice of technology makes a significant difference in the service quality to the customer.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
The computer hardware consists of
Correct Answer
Central processing unit. , Primary and secondary storage.
Your Answer
Central processing unit. , Primary and secondary storage.

Multiple Choice Multiple Answer
Question
Some of the input devices are as under
Correct Answer
Touch screen. , Computer mouse. , Keyboard.
Your Answer
Touch screen. , Computer mouse. , Keyboard.

True/False
Question
Hard disk is a primary storage unit.
Correct Answer
False
Your Answer
True

True/False
Question
The second generation of computers used integrated circuits/chips.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
The following principle of decision making technique refers to taking a number of decisions based on its own logic and intuition
Correct Answer
Logic and intuition.
Your Answer
Logic and intuition.

Multiple Choice Single Answer
Question
BSP is the short form of
Correct Answer
Business Systems Planning.
Your Answer
Business Systems Planning.

Multiple Choice Multiple Answer
Question
Decisions could be divided into following two categories
Correct Answer
Programmed. , Non programmed.
Your Answer
Programmed. , Non programmed.

Multiple Choice Multiple Answer
Question
The techniques used for non programmed decisions are
Correct Answer
Judgment. , Intuition. , Business acumen.
Your Answer
Judgment. , Intuition. , Business acumen.

Multiple Choice Multiple Answer
Question
Decision trees could be represented in different ways such as
Correct Answer
Bottom to top. , Left to right. , Top to bottom.
Your Answer
Bottom to top. , Left to right. , Top to bottom.

True/False
Question
End - Means analysis is a technique used for determining information requirement of the organization at department or individual mangers level.
Correct Answer
True
Your Answer
True

Select The Blank
Question
The science of communication and control is known as ________.
Correct Answer
Cybernetic.
Your Answer
Cybernetic.

Multiple Choice Single Answer
Question
Objects can communicate with each other through
Correct Answer
Functions
Your Answer
Functions

Multiple Choice Multiple Answer
Question
Conversion is possible only after the following procedures are complete
Correct Answer
Testing , File building , User training
Your Answer
Testing , File building , User training

Match The Following
Question
Correct Answer
Your Answer
Installation and operation stage
Conversion.
Conversion.
Physical Database design
Volume requirements.
Volume requirements.
Physical System design
Data Communication requirements.
Data Communication requirements.
Conceptual design
Follow up control procedures.
Follow up control procedures.

True/False
Question
In OOP inheritance refers to the ability to take more than one form.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
Executive Support System
Correct Answer
Is a non-flexible system
Your Answer
Is a comprehensive system that goes beyond the EIS to include communication, office automation, analysis and intelligence

Multiple Choice Multiple Answer
Question
Some of the tools of Expert Systems are
Correct Answer
WAX , Expert Ease
Your Answer
WAX , Expert Ease

Select The Blank
Question
EIS facilitates access from many places. This is________characteristic.
Correct Answer
User-Interface
Your Answer
User-Interface

Select The Blank
Question
EIS enables to address adhoc queries. This is its________characteristic.
Correct Answer
capability
Your Answer
capability

Select The Blank
Question
EIS provides access to historical data. This is its________.
Correct Answer
capability
Your Answer
capability

Select The Blank
Question
Criticism free idea generation is a factor of________.
Correct Answer
GDSS
Your Answer
GDSS

Match The Following
Question
Correct Answer
Your Answer
MIS gives emphasis on
data storage
data storage
DSS gives emphasis on
data manipulation
data manipulation
MIS relies on
computer expert
computer expert
DSS relies on
managerial judgment
managerial judgment

Multiple Choice Multiple Answer
Question
The information contained in the data dictionary is
Correct Answer
Name of data item. , Source of data. , Keyword
Your Answer
Name of data item. , Source of data. , Keyword

Select The Blank
Question
Database is pivotal to________.
Correct Answer
MIS
Your Answer
MIS

Multiple Choice Single Answer
Question
Discovering unknown associates is result of one of the following:
Correct Answer
Data Mining
Your Answer
Data Mining

Multiple Choice Single Answer
Question
Structure of data inside the data warehouse consists of one of the following:
Correct Answer
Current detail data
Your Answer
Current detail data

Select The Blank
Question
Data Mining is information ________ tool.
Correct Answer
Analysis
Your Answer
Analysis

Select The Blank
Question
Data Mining is also known as ________ database.
Correct Answer
Knowledge Discovery
Your Answer
Knowledge Discovery

Multiple Choice Single Answer
Question
Unauthorized reading of data comes under one of the following:
Correct Answer
Information Breach
Your Answer
Information Breach


Multiple Choice Multiple Answer
Question
DSS provides with
Correct Answer
raw data and status access , general analysis capabilities , representation models
Your Answer
raw data and status access , general analysis capabilities , representation models

Select The Blank
Question
________ is a ________ of data organized to service many users at the same time.
Correct Answer
Database
Your Answer
Database
Correct Answer
collection
Your Answer
collection

True/False
Question
Both IT and business units must be involved in the data warehouse project for its success
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The rules that govern how a network is setup is called its
Correct Answer
Topology
Your Answer
Topology

Multiple Choice Single Answer
Question
BSP
Correct Answer
Business Systems Planning
Your Answer
Business Systems Planning

Multiple Choice Multiple Answer
Question
Some of the major components that composes DSS are
Correct Answer
hardware , user system interface , database and its management
Your Answer
user system interface , database and its management

Multiple Choice Single Answer
Question
Information requirement within organization are
Correct Answer
different
Your Answer
different

Multiple Choice Single Answer
Question
This OS can provide mainframe-like computer power for new applications with massive memory and file management requirements
Correct Answer
Windows NT
Your Answer
Windows NT

Multiple Choice Single Answer
Question
Data Mining
Correct Answer
all of the above
Your Answer
all of the above

True/False
Question
EIS /ESS cannot utilize hypertext and hypermedia
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
It is the non-trivial extraction of implicit, previously unknown and potentially useful information from the data
Correct Answer
options b and c
Your Answer
data mining

Select The Blank
Question
________ consists of ________, which enable end-users and programmers to extract data from database.
Correct Answer
DML
Your Answer
DML
Correct Answer
commands
Your Answer
commands

Select The Blank
Question
The ________ decides which computer resource will be used, which programs will be run and the ________ in which activities will take place.
Correct Answer
operating system
Your Answer
operating system
Correct Answer
sequence
Your Answer
sequence

Select The Blank
Question
________ competition has increased ________ and these standards are not static.
Correct Answer
Global
Your Answer
Global
Correct Answer
performance standards
Your Answer
performance standards

Match The Following
Question
Correct Answer
Your Answer
This layer of the OSI takes care of the electrical, mechanical and functional control of data circuits.
physical layer
WAN
This layer of OSI sets up and manages dialogues or sessions between communication users.
sessions layer
physical layer
In this network, its micro computers can span cities, states or even national boundaries.
WAN
OSI
It is the extra value added to communications by the telecommunications computing services.
VAN
sessions layer
It is known as the Reference Model as it provides common basis for standards for protocols.
OSI
VAN

Match The Following
Question
Correct Answer
Your Answer
This type of network ties all the units to a central host / hub computer.
star
star
In this type of network a special software is available to help identify which components receive each message.
bus
Gateway
The set of rules and procedures governing transmission between two points in a network is called
protocol
protocol
It is a computer in a network that stores various programmes and data files for users of network.
file server
bus
It permits the computers of different design / architectures to communicate with one another.
Gateway
file server

True/False
Question
IDs that have not been used in a predefined period of time should be disabled
Correct Answer
True
Your Answer
True


Multiple Choice Multiple Answer
Question
The different types of models used by DSS are
Correct Answer
Operations research model , Behavioral model , Management science model
Your Answer
Behavioral model , Management science model , Operations research model

Select The Blank
Question
________provides a generalized computing and telecommunications capacity that can be applied to a changing array of problems.
Correct Answer
EIS
Your Answer
MIS

True/False
Question
MIS need not be compatible with the organizations structure and culture.
Correct Answer
False
Your Answer
False

Select The Blank
Question
EIS facilitates aggregated and context data. This is its________.
Correct Answer
benefit
Your Answer
characteristic

Multiple Choice Single Answer
Question
The control system should be definite and determinable. This is done under one of the following:
Correct Answer
Objective.
Your Answer
Principle of critical point control.

Select The Blank
Question
The________are interactive information systems that rely on an integrated set of user friendly hardware and software.
Correct Answer
DSS
Your Answer
DSS

Multiple Choice Single Answer
Question
One of the following is the decision tool that helps in summarizing the interactions of various alternative actions of events
Correct Answer
Pay off matrix.
Your Answer
Inventory model.

True/False
Question
Expert systems lack human self-awareness and self analysis tool.
Correct Answer
True
Your Answer
True

Select The Blank
Question
EIS enables to address adhoc queries. This is its________characteristic.
Correct Answer
capability
Your Answer
capability

Multiple Choice Multiple Answer
Question
Characteristics of GDSS are as follows
Correct Answer
Automated record keeping , Parallel communication , Anonymous inputs
Your Answer
Automated record keeping , Parallel communication , Anonymous inputs

Select The Blank
Question
The________is the component of communication to which information is transferred
Correct Answer
Receiver
Your Answer
Medium

Multiple Choice Single Answer
Question
The primary goal of one of the following system is to obtain data from a variety of sources, integrate and aggregate the data and display results
Correct Answer
ESS
Your Answer
DSS

Multiple Choice Single Answer
Question
Data Warehousing is seen as a Data Arrangement technology adopting one of the following:
Correct Answer
Up-date approach
Your Answer
Up-date approach

Select The Blank
Question
The Competitor Master Entry Screen consists of ________.
Correct Answer
Brand Name
Your Answer
Brand Name

Select The Blank
Question
Data Mining is information ________ tool.
Correct Answer
Analysis
Your Answer
Analysis

Multiple Choice Multiple Answer
Question
Decisions could be divided into following two categories
Correct Answer
Programmed. , Non programmed.
Your Answer
Programmed. , Certainty.

Multiple Choice Multiple Answer
Question
The product assurance discipline of the discipline triangle will include
Correct Answer
quality assurance , test and evaluation , configuration management
Your Answer
quality assurance , test and evaluation , protocols

Match The Following
Question
Correct Answer
Your Answer
DML is generally used in conjunction with
3rd or 4th generation programming languages.
3rd or 4th generation programming languages.
The database approach evolved out of the need to
eliminate the data management problems.
eliminate the data management problems.
Database implies a particular structuring of data
both conceptual and physical.
both conceptual and physical.
In a database instead of storing data separately
data records are physically organized and stored centrally.
data records are physically organized and stored centrally.

True/False
Question
Classes are user defined data types.
Correct Answer
True
Your Answer
True

True/False
Question
Data warehouse is organized according to application.
Correct Answer
False
Your Answer
True

True/False
Question
The IDE was developed by GE under the leadership of Charles Babbage.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
A data warehouse typically starts with one of the following type of database:
Correct Answer
Very large
Your Answer
Very large

Select The Blank
Question
Trained facilitator is a________of GDSS.
Correct Answer
Component
Your Answer
Component

Multiple Choice Single Answer
Question
AI is the short form of
Correct Answer
Artificial Intelligence.
Your Answer
Artificial Intelligence.

Multiple Choice Single Answer
Question
One of the following consumes shelf space, has a shelf life and has a physical unit of measure
Correct Answer
product
Your Answer
communication

Multiple Choice Multiple Answer
Question
The characteristics of EIS / ESS are
Correct Answer
Information characteristics , User-interface / orientation characteristics , Managerial executive characteristics
Your Answer
Information characteristics , User-interface / orientation characteristics , Communication characteristics

Select The Blank
Question
Criticism free idea generation is a factor of________.
Correct Answer
GDSS
Your Answer
DSS

Select The Blank
Question
Select, train and ________ the employees to work for the customers is a principle stated by Tom Peters in "The Service Edge".
Correct Answer
Empower
Your Answer
Reward

Multiple Choice Multiple Answer
Question
The strategy formulation and implementation depends a lot on the information on
Correct Answer
socio-economic changes , new demands arising out of these changes , changing technology
Your Answer
socio-economic changes , new demands arising out of these changes , changing technology

Multiple Choice Multiple Answer
Question
The software quality capabilities ensure that software is:
Correct Answer
reliable , doing what it is supposed to do , doing efficiently
Your Answer
reliable , doing what it is supposed to do , doing efficiently

True/False
Question
Data dictionary is the 3rd component of the DBMS.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
One of the following sub-systems of the dialogue management component of the DSS programs checks the user commands for correct syntax.
Correct Answer
User interface
Your Answer
User interface

True/False
Question
ESS/ EIS is normally developed to assist the operation level decision making.
Correct Answer
False
Your Answer
False

True/False
Question
Dialogue management components of DSS program is a set of programs that manages user interface.
Correct Answer
True
Your Answer
True

Select The Blank
Question
The Stock Value details are given to ________ by Kardex
Correct Answer
Accounts
Your Answer
Purchase

Multiple Choice Single Answer
Question
If the central hub in star topology breaks down then
Correct Answer
The network stops working.
Your Answer
The network stops working.

Multiple Choice Single Answer
Question
Type of system which is practical, specific and operational is one of the following:
Correct Answer
Empirical.
Your Answer
Conceptual.

True/False
Question
Social and machine are types of systems.
Correct Answer
True
Your Answer
True

True/False
Question
The marketing service system will provide the facility of re-opening enquiries received from distributors or customer.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Some of the advantages of prototyping are
Correct Answer
Trying out ideas without incurring large costs , Reduced application development time , Reduced maintenance
Your Answer
Reduced application development time , Reduced maintenance , Reduced project development study

Multiple Choice Multiple Answer
Question
The different forms of authorization for access of database are
Correct Answer
read authorization , index authorization , update index authorization
Your Answer
read authorization , index authorization

Multiple Choice Single Answer
Question
One of the following is a core application of Back Office
Correct Answer
Hospital billing and recovery
Your Answer
Hospital billing and recovery

Match The Following
Question
Correct Answer
Your Answer
Data mining is the process of discovering meaningful new correlation pattern
and trends by sifting through large amount of data stored in repositories.
and understanding the situation.
In data mining the relationships represents the
valuable knowledge about database and objects in the database.
valuable knowledge about database and objects in the database.
The outcome of data mining
must be actionable and measurable.
must be actionable and measurable.
Data mining should not only enable the analysis to be undertaken but
must enable learning from this activity.
must enable learning from this activity.

Multiple Choice Multiple Answer
Question
Following are the components of communication
Correct Answer
Sender. , Receiver. , Medium.
Your Answer
Sender. , Receiver. , Medium. , Acknowledgement.

Multiple Choice Multiple Answer
Question
CASE tools can
Correct Answer
Give standardization based on single method , Generate data models
Your Answer
Give standardization based on single method , Generate data models , Automatically provide a functional system , Radically transform the systems analysis and design process

Multiple Choice Single Answer
Question
For arriving at the CSF the technique usually used is
Correct Answer
Personal interview.
Your Answer
Observation.

Multiple Choice Multiple Answer
Question
Data mining
Correct Answer
Is an information analysis tool that evolves the automated discovery of patterns and relationships in a data warehouse. , Encompasses a number of technical approaches such as clustering, data summarization . , Is the process of discovering meaningful, new correlation patterns and trends.
Your Answer
Is an information analysis tool that evolves the automated discovery of patterns and relationships in a data warehouse. , Encompasses a number of technical approaches such as clustering, data summarization . , Is the process of discovering meaningful, new correlation patterns and trends. , Provides more and better information



Multiple Choice Single Answer
Question
One of the following person's signature is required on the "Goods Receipt Note"
Correct Answer
Stores In-Charge.
Your Answer
Stores In-Charge.

Multiple Choice Multiple Answer
Question
The functions of the data dictionary are
Correct Answer
It defines data elements. , It permits users to know which data is available. , It helps in scheduling and control.
Your Answer
It defines data elements.

Select The Blank
Question
The________is the component of communication through which information is transferred.
Correct Answer
Medium
Your Answer
Medium

Match The Following
Question
Correct Answer
Your Answer
information processing
information system planning
information system planning
top management
resource allocation
resource allocation
logistics
distribution
salary administration
personnel
salary administration
distribution
finance
cost analysis
cost analysis

Select The Blank
Question
The commands received from the________management components are delivered either to the model base management system or the mode execution system.
Correct Answer
dialogue
Your Answer
dialogue

Multiple Choice Single Answer
Question
Internet connections should be protected by
Correct Answer
firewall
Your Answer
viruses

Multiple Choice Single Answer
Question
One byte is made of
Correct Answer
Eight bits.
Your Answer
Eight bits.

Multiple Choice Single Answer
Question
The weakness of pay off matrix is that it
Correct Answer
Depends on decision makers judgment.
Your Answer
Depends on decision makers judgment.

Multiple Choice Single Answer
Question
One of the following is the first component of DBMS
Correct Answer
DDL
Your Answer
DDL

Multiple Choice Multiple Answer
Question
Following statements are true with the ALU
Correct Answer
Arithmetic processing is done by it. , Logical decisions are taken by it.
Your Answer
Logical decisions are taken by it. , Arithmetic processing is done by it.

Multiple Choice Single Answer
Question
One of the following reference models has served as one of the most basic yet essential elements of computer networking
Correct Answer
OSI
Your Answer
OSI

True/False
Question
EIS/ESS cannot utilize hypertext and hypermedia.
Correct Answer
False
Your Answer
False

True/False
Question
Information and information technology help create / spawn business within old ones.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Object code
Computer readable
Computer readable
RAM
volatile memory
Non-volatile memory
ROM
Non-volatile memory
volatile memory
Source code
Human readable
Human readable

True/False
Question
Interpreter translates each source code one at a time into machine code.
Correct Answer
True
Your Answer
True

Select The Blank
Question
While developing programs and procedures due attention is paid to________.
Correct Answer
Documentation
Your Answer
Documentation

True/False
Question
EIS/ESS improves user productivity.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
The user interface characteristics of EIS/ ESS will include
Correct Answer
GUI , Access from many places , Secure reliable and confidential access
Your Answer
Access from many places , Secure reliable and confidential access , GUI

Multiple Choice Single Answer
Question
The back bone of any organization is
Correct Answer
information
Your Answer
information

Multiple Choice Multiple Answer
Question
Some of the factors that influence the success of GDSS are:
Correct Answer
Improved pre-planning , Access to external information , Increased participation
Your Answer
Access to external information , Increased participation

Select The Blank
Question
________ process is one of the process in Data Warehousing
Correct Answer
Aging
Your Answer
Aging

True/False
Question
The data bus transmits signals for locating a given address.
Correct Answer
False
Your Answer
False

True/False
Question
Encapsulation refers to wrapping of data and functions into Class.
Correct Answer
True
Your Answer
True

Select The Blank
Question
The formal language used by the computer professionals to specify the contents and structure of the database is________.
Correct Answer
DDL
Your Answer
DDL

Multiple Choice Multiple Answer
Question
Some of the storage devices are
Correct Answer
Magnetic tape. , Magnetic drum. , Optical disk.
Your Answer
Magnetic tape. , Magnetic drum. , Optical disk.

Select The Blank
Question
The integrated circuits / chips were made by printing thousands of tiny transistors on small silicon chips, called________.
Correct Answer
semi-conductors.
Your Answer
semi-conductors.

Select The Blank
Question
The________feasibility mainly examines whether the proposed solution is desirable within the available managerial frame work.
Correct Answer
Operational
Your Answer
Technical

Multiple Choice Single Answer
Question
What denotes the hierarchy of and organization
Correct Answer
organization structure
Your Answer
organization structure

Multiple Choice Single Answer
Question
One of the following is the non-trivial extraction of implicit, previously unknown and potentially useful information from the data
Correct Answer
Data warehousing.
Your Answer
Data warehousing.

Select The Blank
Question
The database model that represents data in a pyramidal or tree like structure is________.
Correct Answer
Hierarchical
Your Answer
Hierarchical

Select The Blank
Question
The________layer of the OSI is an end user application and functions for particular application services such as file transfer, remote file access.
Correct Answer
application
Your Answer
network

Multiple Choice Multiple Answer
Question
The aims of the purchase management system are
Correct Answer
Reduce book keeping efforts. , Provides better interface with other systems. , Maintains an organizational level database.
Your Answer
Provides better interface with other systems. , Invoices are generated.

Multiple Choice Single Answer
Question
ES is the short form of
Correct Answer
Expert Systems
Your Answer
Expert Systems

Multiple Choice Multiple Answer
Question
The goods receipt report generated by the inventory management system is
Correct Answer
Item wise goods receipt. , Supplier wise goods receipt.
Your Answer
Stock information.

Select The Blank
Question
The specialized language used by end users and programmers to manipulate data in the database is________.
Correct Answer
DML
Your Answer
DML

Multiple Choice Multiple Answer
Question
Data processing steps would involve
Correct Answer
Read. , Sort. , Compare.
Your Answer
Read. , Sort. , Compare.

Multiple Choice Single Answer
Question
The flow of information through MIS is
Correct Answer
need dependent
Your Answer
need dependent

Multiple Choice Multiple Answer
Question
Data dictionary provides with
Correct Answer
Report facility. , Control facility. , Expert facility.
Your Answer
Report facility. , Control facility. , Expert facility.

Multiple Choice Single Answer
Question
Data warehouse as a process evolved gradually within
Correct Answer
An enterprise.
Your Answer
An enterprise.

Multiple Choice Multiple Answer
Question
Some of the trends affecting data mining are
Correct Answer
Data trends. , Hardware trends , Business trends.
Your Answer
Data trends. , Hardware trends , Business trends.

Multiple Choice Single Answer
Question
Type of system which is practical, specific and operational is one of the following:
Correct Answer
Empirical.
Your Answer
Empirical.

True/False
Question
The ISO definition clearly reflects the desire to define quality in a way which captures the current concept of quality as customer satisfaction.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The essence of control is known as
Correct Answer
An action.
Your Answer
An action.

Multiple Choice Multiple Answer
Question
Following statements are true for the CPU
Correct Answer
All the processing and controlling is done by the CPU. , Arithmetic processing is done by CPU. , Temporary storage of data is handled by CPU.
Your Answer
All the processing and controlling is done by the CPU. , Temporary storage of data is handled by CPU.

Select The Blank
Question
________ system is rigid and not amenable to change.
Correct Answer
Close
Your Answer
Close

True/False
Question
Feedback is immediate in business communication
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
CCWS is the short form of
Correct Answer
Computerized Collaborative Work System
Your Answer
Computerized Collaborative Work System

Multiple Choice Single Answer
Question
One of the following person's signature is required on the "Goods Receipt Note"
Correct Answer
Stores In-Charge.
Your Answer
Stores In-Charge.

Multiple Choice Multiple Answer
Question
The functions of the data dictionary are
Correct Answer
It defines data elements. , It permits users to know which data is available. , It helps in scheduling and control.
Your Answer
It defines data elements.

Select The Blank
Question
The________is the component of communication through which information is transferred.
Correct Answer
Medium
Your Answer
Medium

Match The Following
Question
Correct Answer
Your Answer
information processing
information system planning
information system planning
top management
resource allocation
resource allocation
logistics
distribution
salary administration
personnel
salary administration
distribution
finance
cost analysis
cost analysis

Select The Blank
Question
The commands received from the________management components are delivered either to the model base management system or the mode execution system.
Correct Answer
dialogue
Your Answer
dialogue

Multiple Choice Single Answer
Question
Internet connections should be protected by
Correct Answer
firewall
Your Answer
viruses

Multiple Choice Single Answer
Question
One byte is made of
Correct Answer
Eight bits.
Your Answer
Eight bits.

Multiple Choice Single Answer
Question
The weakness of pay off matrix is that it
Correct Answer
Depends on decision makers judgment.
Your Answer
Depends on decision makers judgment.

Multiple Choice Single Answer
Question
One of the following is the first component of DBMS
Correct Answer
DDL
Your Answer
DDL

Multiple Choice Multiple Answer
Question
Following statements are true with the ALU
Correct Answer
Arithmetic processing is done by it. , Logical decisions are taken by it.
Your Answer
Logical decisions are taken by it. , Arithmetic processing is done by it.

Multiple Choice Single Answer
Question
One of the following reference models has served as one of the most basic yet essential elements of computer networking
Correct Answer
OSI
Your Answer
OSI

True/False
Question
EIS/ESS cannot utilize hypertext and hypermedia.
Correct Answer
False
Your Answer
False

True/False
Question
Information and information technology help create / spawn business within old ones.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Object code
Computer readable
Computer readable
RAM
volatile memory
Non-volatile memory
ROM
Non-volatile memory
volatile memory
Source code
Human readable
Human readable

True/False
Question
Interpreter translates each source code one at a time into machine code.
Correct Answer
True
Your Answer
True

Select The Blank
Question
While developing programs and procedures due attention is paid to________.
Correct Answer
Documentation
Your Answer
Documentation

True/False
Question
EIS/ESS improves user productivity.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
The user interface characteristics of EIS/ ESS will include
Correct Answer
GUI , Access from many places , Secure reliable and confidential access
Your Answer
Access from many places , Secure reliable and confidential access , GUI

Multiple Choice Single Answer
Question
The back bone of any organization is
Correct Answer
information
Your Answer
information

Multiple Choice Multiple Answer
Question
Some of the factors that influence the success of GDSS are:
Correct Answer
Improved pre-planning , Access to external information , Increased participation
Your Answer
Access to external information , Increased participation

Select The Blank
Question
________ process is one of the process in Data Warehousing
Correct Answer
Aging
Your Answer
Aging

True/False
Question
The data bus transmits signals for locating a given address.
Correct Answer
False
Your Answer
False

True/False
Question
Encapsulation refers to wrapping of data and functions into Class.
Correct Answer
True
Your Answer
True

Select The Blank
Question
The formal language used by the computer professionals to specify the contents and structure of the database is________.
Correct Answer
DDL
Your Answer
DDL

Multiple Choice Multiple Answer
Question
Some of the storage devices are
Correct Answer
Magnetic tape. , Magnetic drum. , Optical disk.
Your Answer
Magnetic tape. , Magnetic drum. , Optical disk.

Select The Blank
Question
The integrated circuits / chips were made by printing thousands of tiny transistors on small silicon chips, called________.
Correct Answer
semi-conductors.
Your Answer
semi-conductors.

Select The Blank
Question
The________feasibility mainly examines whether the proposed solution is desirable within the available managerial frame work.
Correct Answer
Operational
Your Answer
Technical

Multiple Choice Single Answer
Question
What denotes the hierarchy of and organization
Correct Answer
organization structure
Your Answer
organization structure

Multiple Choice Single Answer
Question
One of the following is the non-trivial extraction of implicit, previously unknown and potentially useful information from the data
Correct Answer
Data warehousing.
Your Answer
Data warehousing.

Select The Blank
Question
The database model that represents data in a pyramidal or tree like structure is________.
Correct Answer
Hierarchical
Your Answer
Hierarchical

Select The Blank
Question
The________layer of the OSI is an end user application and functions for particular application services such as file transfer, remote file access.
Correct Answer
application
Your Answer
network

Multiple Choice Multiple Answer
Question
The aims of the purchase management system are
Correct Answer
Reduce book keeping efforts. , Provides better interface with other systems. , Maintains an organizational level database.
Your Answer
Provides better interface with other systems. , Invoices are generated.

Multiple Choice Single Answer
Question
ES is the short form of
Correct Answer
Expert Systems
Your Answer
Expert Systems

Multiple Choice Multiple Answer
Question
The goods receipt report generated by the inventory management system is
Correct Answer
Item wise goods receipt. , Supplier wise goods receipt.
Your Answer
Stock information.

Select The Blank
Question
The specialized language used by end users and programmers to manipulate data in the database is________.
Correct Answer
DML
Your Answer
DML

Multiple Choice Multiple Answer
Question
Data processing steps would involve
Correct Answer
Read. , Sort. , Compare.
Your Answer
Read. , Sort. , Compare.

Multiple Choice Single Answer
Question
The flow of information through MIS is
Correct Answer
need dependent
Your Answer
need dependent

Multiple Choice Multiple Answer
Question
Data dictionary provides with
Correct Answer
Report facility. , Control facility. , Expert facility.
Your Answer
Report facility. , Control facility. , Expert facility.

Multiple Choice Single Answer
Question
Data warehouse as a process evolved gradually within
Correct Answer
An enterprise.
Your Answer
An enterprise.

Multiple Choice Multiple Answer
Question
Some of the trends affecting data mining are
Correct Answer
Data trends. , Hardware trends , Business trends.
Your Answer
Data trends. , Hardware trends , Business trends.

Multiple Choice Single Answer
Question
Type of system which is practical, specific and operational is one of the following:
Correct Answer
Empirical.
Your Answer
Empirical.

True/False
Question
The ISO definition clearly reflects the desire to define quality in a way which captures the current concept of quality as customer satisfaction.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The essence of control is known as
Correct Answer
An action.
Your Answer
An action.

Multiple Choice Multiple Answer
Question
Following statements are true for the CPU
Correct Answer
All the processing and controlling is done by the CPU. , Arithmetic processing is done by CPU. , Temporary storage of data is handled by CPU.
Your Answer
All the processing and controlling is done by the CPU. , Temporary storage of data is handled by CPU.

Select The Blank
Question
________ system is rigid and not amenable to change.
Correct Answer
Close
Your Answer
Close

True/False
Question
Feedback is immediate in business communication
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
CCWS is the short form of
Correct Answer
Computerized Collaborative Work System
Your Answer
Computerized Collaborative Work System

SCDL Management Accounting Solved Papers, Symbiosis management Accounting Papers

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Multiple Answer
Question The management of Horngreen Ltd. is deciding whether to continue working at loss or to temporarily shut down the factory. State the qualitative aspects that must be considered before arriving at a decision.
Correct Answer Loss of trained personnel , Loss of regular customers , Expenditure required to restart the factory
Your Answer Expenditure required to restart the factory

Multiple Choice Single Answer
Question The purchase budget for October is Rs.12,500/- and November is Rs.15,000/-. If the materials are purchased for cash the supplier is offering a rebate of 5%. If the materials are purchased on credit of 30 days, no rebate is offered. The company purchase
Correct Answer October- NIL, November- Rs.26,750/-
Your Answer October- Rs.14,250/-, November- Rs.11,875/-

True/False
Question Maintenance Department is a service cost centre.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question Ram and Laxman are partners of Kush & Bros. As on 1st April, 2003 Ram's capital is Rs.50,000/- and Laxman's capital is Rs.80,000/-. If interest on capital is to be provided @ 10% p.a., what will be amount of capital of each of the partners as on 31st March, 2004, assuming there were no additions during this period? Also, state the treatment of this item in the Profit and loss account.
Correct Answer Ram's capital Rs.55,000/- , Laxman's capital Rs.88,000/- , Interest on capital should be debited to the Profit and loss account
Your Answer Laxman's capital Rs.88,000/- , Interest on capital should be debited to the Profit and loss account

Multiple Choice Single Answer
Question Rs.2,650/- were paid to ABC Ltd. for maintenance of machine; which account should be debited for this transaction?
Correct Answer Maintenance of machine account
Your Answer ABC Ltd.'s Account

Match The Following
Question Correct Answer Your Answer

Advantageously applicable in similar industries Scope of uniform costing Fields covered by uniform costing

Spirit of mutual trust Requisite for uniform costing Disadvantage of uniform costing

Avoids cut throat competition Advantage of uniform costing Requisite for uniform costing

Treatment given to research and development costs Fields covered by uniform costing Advantage of uniform costing


Select The Blank
Question Under the AB________ analysis, nuts and bolts used as material will be classified as category C.
Correct Answer C
Your Answer C

Select The Blank
Question If overhead absorbed i.e. overheads charged to units during the period is more than the overhead incurred, it is said that the overheads are ________.
Correct Answer Over-absorbed
Your Answer True and fair

Multiple Choice Multiple Answer
Question Identify the causes due to which the cost of labour may be high:
Correct Answer Excess staffing , Lack of experienced and efficient personnel , High labour turnover
Your Answer Lack of experienced and efficient personnel , High labour turnover , No idle time

Multiple Choice Multiple Answer
Question Identify the fixed expenses from the following.
Correct Answer Rent and taxes of the factory , Wages paid to indirect workers like cleaners, helpers,etc. , Salary paid to factory supervisor
Your Answer Rent and taxes of the factory , Wages paid to indirect workers like cleaners, helpers,etc. , Salary paid to factory supervisor

Multiple Choice Multiple Answer
Question From the following, select intangible assets:
Correct Answer Goodwill , Patents , Trade Marks
Your Answer Goodwill , Patents , Trade Marks

True/False
Question According to Reducing Balance Method, the depreciation is provided at a predetermined percentage on the balance of cost of asset after deduction of the depreciation previously charged.
Correct Answer True
Your Answer False

Select The Blank
Question Average stock = ________ + (Order size / 2)
Correct Answer Safety stock
Your Answer Reorder level

True/False
Question High time wages means necessarily high cost of production.
Correct Answer False
Your Answer True

Multiple Choice Single Answer
Question The integrated form of all functional budgets is known as :
Correct Answer Master budget
Your Answer Master budget

Select The Blank
Question Marginal costing is also known as ________.
Correct Answer Variable costing
Your Answer Indirect costing

Multiple Choice Single Answer
Question Purchased 200 shares of Bharat Forge Ltd. for Rs.850/- per share, which account should be debited?
Correct Answer Investment account - Rs.170,000/-
Your Answer Investment account - Rs.170,000/-

Multiple Choice Single Answer
Question For a bought out material item the following are the relevant data : Ordering cost Rs.512/- per order; holding cost is 40%; cost per item Rs.100/- and annual demand 1,000 units. The Purchase manager places 5 orders of equal quantity in one year, in order to avail the discount of 5% on the cost of the item. Work out the total cost to the organisation due to his ordering policy for this item.
Correct Answer Rs.101,360/-
Your Answer Rs.101,360/-

True/False
Question Due to compensating errors the arithmetical accuracy of the trial balance is affected.
Correct Answer False
Your Answer False

Multiple Choice Single Answer
Question From the given information compute the total cost variance. Material cost variance -Rs.4,400/- (Favourable); labour cost variance -Rs.450/- (Adverse); fixed overhead cost variance -Rs.22,000/- (Adverse); variable overhead cost variance -Rs.6,000/- (adverse).
Correct Answer Rs.24,050/- (Adverse)
Your Answer Rs.32,850/- (Favourable)

Multiple Choice Single Answer
Question Advance tax account should appear in which of the final statement of accounts.
Correct Answer Asset side of the balance sheet
Your Answer Debit side of the profit and loss account

Match The Following
Question Correct Answer Your Answer

Operating income Cash Sales Cash Sales

Non-Operating income Issue of shares Issue of shares

Plan of investment in fixed assets Capital Expenditure Budget Cash Budget

Plan for surplus/shortage of cash Cash Budget Capital Expenditure Budget


Select The Blank
Question Furniture account will always have a ________ balance.
Correct Answer Debit
Your Answer Inflated

Select The Blank
Question Payment by ________ method lowers the cost of production through their impact on fixed costs.
Correct Answer Results
Your Answer Cash

Multiple Choice Multiple Answer
Question The objects of cost accountancy are . .
Correct Answer To ascertain cost and profitability , Cost Control , Presentation of Information
Your Answer To ascertain cost and profitability , Cost Control , To portray the financial status

Multiple Choice Multiple Answer
Question Select the various methods adopted for treatment of under or over absorbed overheads
Correct Answer Use of supplementary rates , Carrying over the amount to remaining period , Writing off to the Costing Profit and Loss Account
Your Answer Use of supplementary rates , Carrying over the amount to remaining period , Writing off to the Costing Profit and Loss Account

True/False
Question Absorption costing is more suitable for decision making than marginal costing
Correct Answer False
Your Answer True

Select The Blank
Question A low margin of safety indicates ________ fixed overheads.
Correct Answer higher
Your Answer higher

Multiple Choice Single Answer
Question Which of the following operations would normally be carried out first when preparing a master budget?
Correct Answer Determining the budget period
Your Answer Identifying the principal budget factor

True/False
Question Period cost is the cost assigned to the products.
Correct Answer False
Your Answer True

Select The Blank
Question Profit = Contribution per unit X ________.
Correct Answer Margin of safety (units)
Your Answer Sales (units)

Multiple Choice Multiple Answer
Question Which of the following aspects are mainly responsible for difficulty in application of Uniform costing system.
Correct Answer Capital investment , Plant size , Location
Your Answer Capital investment , Plant size , Loans taken

Select The Blank
Question As per the provisions of Section 209 of ________, all the company form of organisation is legally required to follow the mercantile or accrual system of accounting.
Correct Answer The Companies Act, 1956
Your Answer The Companies Act, 1956

Multiple Choice Single Answer
Question ABC Ltd. produces 10,000 units at 100% capacity utilization and its cost structure is as follows : Fixed cost Rs.50,000/-; variable costs Rs.30,000/- and semi-variable costs Rs.40,000/- (40% var
Correct Answer Rs.13.85
Your Answer Rs.11.85

Select The Blank
Question Loss of uninsured goods by fire was debited incorrectly to United India Assurance Company's account instead of debiting it to ________ account.
Correct Answer Goods lost by fire
Your Answer Goods lost by fire

Multiple Choice Multiple Answer
Question Management Accounting is…
Correct Answer Designed particularly for internal use , Helpful in estimating the future along with past period , Useful in furnishing the necessary information to the management
Your Answer Helpful in estimating the future along with past period , Useful in furnishing the necessary information to the management , A legal requirement.

Multiple Choice Multiple Answer
Question The disadvantages of supplementary overhead rates are:
Correct Answer It can be determined only after the end of the accounting period , Defeats the basic concept of normal cost , Involves lot of clerical activity
Your Answer Defeats the basic concept of normal cost , Involves lot of clerical activity , It can be determined only in the beginning of the accounting period

True/False
Question GAIL having monopoly in the CNG (Compressed Natural Gas) market can implement the Uniform costing system.
Correct Answer False
Your Answer True

True/False
Question One of the main objection to the contribution approach of costing is that it ignores fixed cost.
Correct Answer True
Your Answer False

Multiple Choice Multiple Answer
Question Pre-requisites of Uniform Costing are . . .
Correct Answer Spirit of mutual trust , Free Exchange of ideas , No rivalry
Your Answer Spirit of mutual trust , Free Exchange of ideas , Tendency of withholding information

Select The Blank
Question Uniform costing is not a separate method of ________.
Correct Answer cost accounting
Your Answer costing

Multiple Choice Single Answer
Question Tom company has sales of Rs.200,000/- with variable expenses of Rs.150,000/-, fixed expenses of Rs.60,000/-, and an operating loss of Rs.10,000/-. By how much would Tom have to increase its sales in order to achieve an operating income of 10% of sales?
Correct Answer Rs.200,000/-
Your Answer Rs.251,000/-

True/False
Question An entry in the stores ledger is required for transfer of material from one job to another in the same department.
Correct Answer False
Your Answer False

Multiple Choice Multiple Answer
Question For the month of November, a firm has budgeted sales of 20,000 units of X at a price of Rs.10/- and sale of 30,000 untis of Y at a price of Rs.6/- per unit. Actual sale during the month was 35,000 units of X at Rs.9/- per unit and 25,000 units of Y at Rs.8/- per unit. Calculate sales volume variance, sales mix variance and sales quantity variance.
Correct Answer Sales volume variance -Rs.120,000/- (Favourable) , Sales mix variance -Rs.44,000/- (Favourable) , Sales Quantity variance-Rs.76,000/- (Favourable)
Your Answer Sales volume variance -Rs.120,000/- (Favourable) , Sales mix variance -Rs.44,000/- (Favourable) , Sales Quantity variance-Rs.76,000/- (Favourable)

True/False
Question The purpose of the profit and loss account is to bring togethre information which relates to gross profit and the expenses for running the business.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question A firm has purchased a plant to manufacture a new product, the cost data for which is given below : Estimated annual sales 24,000 units. Estimated costs : Materials Rs.4/- per unit; labour Re.0.60 per unit; overheads Rs.24,000/- per year; administrative expenses Rs.28,800/- per year and selling expenses are 15% of sales; Calculate the selling price per unit if profit per unit is Rs.1.02.
Correct Answer Rs.9.20/-
Your Answer Rs.7.74/-

Multiple Choice Single Answer
Question A company wishes to earn a 15% profit margin on selling price when quoting for a job. Which of the following is the profit margin of cost which will achieve the required profit margin ?
Correct Answer 0.1765
Your Answer 0.15

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Labels: Management Accounting (Set III)


Management Accounting - 8
LIST OF ATTEMPTED QUESTIONS AND ANSWERS

True/False
Question Purchased goods by paying Rs.35,000/-: In this case, the cash account should be debited.
Correct Answer True
Your Answer False

True/False
Question The rates at which the depreciation is to be calculated are specified in the Income Tax Act 1961 and The Companies Act, 1956.
Correct Answer True
Your Answer True

Select The Blank
Question The various contents of a uniform cost manual are organisation, cost accounting system and ________.
Correct Answer presentation of information
Your Answer organisation structure

True/False
Question It is said that marginal costs are used primarily in guiding decisions that are yet to be made.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question Select the examples of functional budgets:
Correct Answer Sales budget , Production budget , Research and development budget
Your Answer Sales budget , Production budget , Capital expenditure budget

Multiple Choice Single Answer
Question A business's telephone bill should nromally be classified into which one of the following categories?
Correct Answer Semi-variable cost
Your Answer Variable cost

Match The Following
Question Correct Answer Your Answer

Closed the account with State Bank of India Henceforth, there shall be no difference in overdraft balances Henceforth, there shall be no difference in overdraft balances

Debit side of bank book is overcast Overdraft as per bank book < Overdraft as per pass book Overdraft as per bank book = Balanceas per pass book

Interest on debentures directly credited by bank Overdraft as per bank book > Overdraft as per pass book Overdraft as per bank book = Overdraft as per pass book

Received sanction for a loan of Rs.10 lakhs Overdraft as per bank book = Overdraft as per pass book Overdraft as per bank book < Overdraft as per pass book


Multiple Choice Single Answer
Question The total production cost for making 20,000 units was Rs.21,000/- and the total production cost for making 50,000 units was Rs.34,000/-. Once production exceeds 25,000 units, additional fixed costs of Rs.4,000/- are incurred. The full production cost per unit of making 30,000 units is:
Correct Answer Re.0.98
Your Answer Re.0.68

Select The Blank
Question The process of finding the reasons for the difference in the balance as per bank book and pass book is known as ________.
Correct Answer Reconciliation
Your Answer Reconciliation

Multiple Choice Multiple Answer
Question State the features of these transactions : (i) Commission paid Rs.250/- was posted twice to Commission account (ii) Rs.5,000/- representing goods sold to A, was posted to the credit to commission received account (iii) Sold machine for Rs.8000/-, was credited to Sales account.
Correct Answer The debit side of the trial balance will be in excess by Rs.250/- , Involves an error of principle , Involves an error of commission
Your Answer The debit side of the trial balance will be in excess by Rs.250/- , Involves an error of principle , Involves an error of commission

Multiple Choice Single Answer
Question It is difficult to apply Uniform costing system for an industry which has labour intensive companies as well as capital intensive companies, because :
Correct Answer The cost structure is different
Your Answer The cost structure is different

Multiple Choice Single Answer
Question Balance sheet is statement of
Correct Answer All Assets and Properties
Your Answer All Assets and Properties

Select The Blank
Question The closing stocks should ________ the cost of the goods which sent on approval basis.
Correct Answer Be increased by
Your Answer Not get affected by

True/False
Question Under the Rowan plan bonus is a fixed percentage.
Correct Answer False
Your Answer True

True/False
Question Idle time variance is always favourable.
Correct Answer False
Your Answer False

Multiple Choice Multiple Answer
Question Select the items which may be classified as selling and distribution overheads.
Correct Answer Delivery van expenses , Rent of finished goods warehouse , Sales research expenses
Your Answer Delivery van expenses , Rent of finished goods warehouse , Rent of raw material godown

Select The Blank
Question Information as to the cost and profit / loss associated with the firm's operations is provided to the ________ by Management accounting.
Correct Answer Management
Your Answer Cost

Multiple Choice Single Answer
Question Compute actual total cost based on the data given below: Total standard cost (standard material cost + standard labour cost) -Rs.19,633.33; labour rate variance-Rs.900/- (adverse); material price variance -Rs.90/- (Favourable); material yield variance -Rs.700/- (Favourable); labour yield variance -Rs.333.33 (Favourable).
Correct Answer Rs.19,410/-
Your Answer Rs.17,610/-

Multiple Choice Single Answer
Question The standard production for a particular work order is 20 units per day and piece rate wages is 60 paise per unit. Cost of material is 30 paise per unit. It is proposed to charge factory overheads equal to 100% of labour cost. Indicate the factory overhead per unit.
Correct Answer Rs.1.50/-
Your Answer Rs.1.30/-

Multiple Choice Multiple Answer
Question The suspense account has a debit balance of Rs.40,000/-. Select the transactions which are capable of nullifying this balance.
Correct Answer Conveyance expenses of Rs.25,000/- were posted on the wrong side of the account. , Purchased computer worth Rs.28,000/- was recorded in the ledger as , The total of the purchase book was cast short by Rs.44,000/-
Your Answer Free samples worth Rs.40,000/- distributed during the year were credited to sales account , Conveyance expenses of Rs.25,000/- were posted on the wrong side of the account. , Purchased computer worth Rs.28,000/- was recorded in the ledger as

Multiple Choice Single Answer
Question Panna Ltd. temporarily has excess production capacity. The idle plant facilties can be used to manufacture a low-margin item. The low-margin item should be produced if it can be sold for more than its:
Correct Answer Variable costs
Your Answer Variable costs

Select The Blank
Question Contribution represents pool of resources available for meeting all costs other than ________.
Correct Answer Variable costs
Your Answer Variable costs

Select The Blank
Question Goods returned to the suppliers from whom it was ________d is recorded in thePurchasereturn register.
Correct Answer Purchase
Your Answer Purchase

Multiple Choice Multiple Answer
Question From the available information calculate sales value variance and budgeted sales quantity of X.Actual sales of X -500 units; budgeted price per unit -Rs.12/-; actual price per unit-Rs.15/- and sales volume variance -Rs.1,200/- (Favourable).
Correct Answer Budgeted sales - 400 units , Sales value variance -Rs.2,700/- , The sales value variance is favourable
Your Answer The sales value variance is adverse

True/False
Question Depreciation, interest and property tax continue even when the operations are discontinued.
Correct Answer True
Your Answer True

Select The Blank
Question The balance of the suspense account will ________ after all the errors are
Correct Answer become zero
Your Answer become zero

Multiple Choice Multiple Answer
Question Management accounting is concerned with the following activities :
Correct Answer Decision making , Safeguarding assets , Planning and controlling activities
Your Answer Decision making , Planning and controlling activities

True/False
Question It is said that the income statement represents wealth increase /decrease for the organisation.
Correct Answer True
Your Answer False

Select The Blank
Question The difference between sales and prime cost is known as ________.
Correct Answer Gross Profit
Your Answer Gross Profit

Multiple Choice Multiple Answer
Question In which of the following situations, the flexible budget should be preferred?
Correct Answer Sales are too difficult to predict , Supply level of input cannot be predicted , Varying levels of production activity
Your Answer Sales are too difficult to predict , Supply level of input cannot be predicted , Varying levels of production activity

Multiple Choice Single Answer
Question Debtors as on 31st March, 2004 stood as Rs.75,400/-. Out of this amount, Rs.15,884/- is receivable from ABC & Co. Also, Rs.21,555/- included in the creditors, indicates amount due to ABC & Co. Total creditors as on 31st March, 2004 = Rs.88,466/-. Find the amount of debtors and creditors that should be disclosed in the balance sheet as on 31st March, 2004.
Correct Answer Debtors - Rs.59,516/-; Creditors - Rs.66,911/-
Your Answer Debtors - Rs.53,845/-; Creditors - Rs.72,582/-

Match The Following
Question Correct Answer Your Answer

Sunk Cost Historical Cost Historical Cost

Cost Centre Facilitate the fixation of responsibility Facilitate the fixation of responsibility

Cost Control Process of controlling costs of operations Process of controlling costs of operations

Differential Cost Increase or Decrease in cost Increase or Decrease in cost


Select The Blank
Question Cost volume profit analysis focuses attention on the ________ effect of a particular course of action.
Correct Answer short run
Your Answer short and long run

Multiple Choice Multiple Answer
Question The balance as per bank book as on 30th June, 2004 is Rs.10,298/- while the balance as per pass book as on the same date is Rs.10,123.60. Select the transactions representing the reasons for this difference.
Correct Answer Interest credited by bank, not entered in the bank book, Rs.125.60 , Cheques dishonoured not entered in the bank book Rs.200/- , Debit side of the cash book is overcast by Rs.100/-
Your Answer Interest credited by bank, not entered in the bank book, Rs.125.60

Multiple Choice Single Answer
Question Uniform costing system is useful in the following areas
Correct Answer Classification of cost accounts
Your Answer Preparing financial statements

True/False
Question Revenue expenditure indicates the amount of funds spent during a certain period with the intention to receive the returns in future.
Correct Answer False
Your Answer True

True/False
Question Price based on Uniform Costing may be taken to be reliable and representative of the whole industry.
Correct Answer True
Your Answer True

True/False
Question Cheque received from a client on 28th September, 2004 must be entered in the bank book only after it is credited in the pass book.
Correct Answer False
Your Answer False

Multiple Choice Multiple Answer
Question The objectives of Uniform costing system are as follows :
Correct Answer To fix a common selling price for the industry as a whole , To compare efficiency of each unit against industry's overall performance , To compile reliable cost data for inter-firm comparison of costs
Your Answer To fix a common selling price for the industry as a whole , To compare efficiency of each unit against industry's overall performance , To compile reliable cost data for inter-firm comparison of costs

Multiple Choice Multiple Answer
Question Purchased goods worth Rs.6,450/- on 10th March, 2004. However the goods were delivered directly to the plant situated at Nagar and hence this transaction was not recorded in the purchase book, which is maintained at the corporate office. Analyse the impact of this transaction.
Correct Answer The gross profit will increase by Rs.6,450/-
Your Answer The purhases will increase by Rs.6,450/- , The closing stock will increase by Rs.6,450/- , The gross profit will increase by Rs.6,450/-

Select The Blank
Question Carriage charges paid for a new machine purchased if debited to carriage account would affect the ________
Correct Answer Machinery A/c and carriage A/c
Your Answer Carriage A/c

Multiple Choice Multiple Answer
Question Different types of tenders are :
Correct Answer Singly tender , Open tender , Global tender
Your Answer Multiple tender , Open tender , Global tender

Multiple Choice Single Answer
Question Purchased 200 shares of Bharat Forge Ltd. for Rs.850/- per share, which account should be debited?
Correct Answer Investment account - Rs.170,000/-
Your Answer Investment account - Rs.170,000/-

Multiple Choice Single Answer
Question Basic objective of Uniform Costing is . . .
Correct Answer comparison
Your Answer To control cost

Multiple Choice Multiple Answer
Question Select the entries which need to be rectified
Correct Answer Purchase A/c ......... Dr. to Damodar's A/c (Being furniture purchased from Damodar) , Gopal's A/c ........... Dr. to cash A/c (Being entry for payment of railway freight for goods purchased) , Cash A/c ............Dr. to Suresh's A/c (Being cash received from Suresh for goods sold to him for)
Your Answer Gopal's A/c ........... Dr. to cash A/c (Being entry for payment of railway freight for goods purchased)

Multiple Choice Single Answer
Question A new computer worth Rs.35,000 was purchased on 18th June, 2003. The company has 10 such computers costing Rs.20,000/- each. The depreciation is charged @ 18% p.a. Find the depreciation on computers to be charged for the year.
Correct Answer Rs.40,953.70
Your Answer Rs.36,000/-

Select The Blank
Question The varinace that attempts to ascertain the effect of change in sales volume on the difference between actual and budgeted contribution is known as ________ variance.
Correct Answer Sales margin volume
Your Answer Sales margin yield

at 4:01 AM 0 comments Links to this post

Labels: Management Accounting (Set III)


Wednesday, June 3, 2009
Management Accounting - 7

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LIST OF ATTEMPTED QUESTIONS AND ANSWERS


True/False
Question Credit balances in all the Personal & Real accounts appear on asset side.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question Contents of Uniform Cost Manual are
Correct Answer Organization , Cost Accounting system , Presentation of information
Your Answer Organization , Cost Accounting system , Presentation of information


Multiple Choice Multiple Answer
Question Uniform Costing Methods may be advantageously applied to . . .
Correct Answer Single organization having number of branches. , Number of companies in same industry , Similar Industries such as cotton, jute etc.
Your Answer Single organization having number of branches. , Number of companies in same industry , Similar Industries such as cotton, jute etc.


True/False
Question 1) Financial statements are basically in two forms i.e. profitability statement and balance sheet.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The process of accounting has three streams of accounting ---------------,--------and ----------------------.
Correct Answer Financial Accounting , Cost Accounting , Management Accounting
Your Answer Financial Accounting , Cost Accounting , Management Accounting


True/False
Question Long term loan borrowed from financial institution comes under the heading of long term liabilities.
Correct Answer True
Your Answer True


Match The Following
Question Correct Answer Your Answer

Book-Keeping Books of Accounts Books of Accounts

Financial statement Profitability statement & Balance-sheet Profitability statement & Balance-sheet

Accounting Process of analyzing & interpretation Process of analyzing & interpretation

Profitability statement Indicates the amount of profit earned Indicates the amount of profit earned

Balance-sheet Financial status Financial status



Multiple Choice Single Answer
Question Judge the statement according to the criteria given : ' The accounting period for XYZ Ltd. ends on 31st December, 2003. It is noted that office rent for the month of December, 2003 is paid on 15th January, 2004. "According to concept of matching expenses with the revenues, this expenditure should be recorded in the books of accounts in January,
Correct Answer The statement and its reason are both incorrect
Your Answer The statement is correct but its reason is incorrect


Multiple Choice Multiple Answer
Question Features of money measurement concept are . . .
Correct Answer Only those transactions and facts are included expressed in terms of money are considered , Imposes severe restrictions on the kind of information available from financial statements , Works as a major drawback of financial accounting
Your Answer Only those transactions and facts are included expressed in terms of money are considered , Imposes severe restrictions on the kind of information available from financial statements , Works as a major drawback of financial accounting


Multiple Choice Single Answer
Question The installation and operation of ___________ accounting requires a very elaborate organizational structure and large number of rules & regulations
Correct Answer Management
Your Answer Management


Select The Blank
Question ________account can be defined as the record of all the transactions pertaining to a person, asset, liability income or expenditure which have taken place in a specified period.
Correct Answer Ledger
Your Answer Trading


Match The Following
Question Correct Answer Your Answer

Sunk Cost Historical Cost Historical Cost

Cost Centre Facilitate the fixation of responsibility Facilitate the fixation of responsibility

Cost Control Process of controlling costs of operations Process of controlling costs of operations

Differential Cost Increase or Decrease in cost Increase or Decrease in cost



Multiple Choice Multiple Answer
Question Which of the following transactions should be excluded while preparing a cost sheet ?
Correct Answer Interest on loan , Bad debts , Expenses on criminal law suit
Your Answer Sale of scrap material , Interest on loan , Bad debts


True/False
Question In a Balance-Sheet right hand side is referred as assets side and left hand side is referred as liabilities.
Correct Answer True
Your Answer True


True/False
Question Credit note is an intimation send to person dealing with the business that his account being debited for the purpose indicated therein.
Correct Answer False
Your Answer False


True/False
Question Primary distribution is effected on the basis of service rendered to the service departments by the production departments.
Correct Answer False
Your Answer True


Multiple Choice Multiple Answer
Question Marginal costing is found to be unsuccessful in the following situations :-
Correct Answer Impossible to distinguish costs into fixed and variable component. , With respect to capital intensive industries where fixed costs are very large and hence cannot be ignored , With respect to service industries where employee costs are very large and almost fixed in nature
Your Answer Impossible to distinguish costs into fixed and variable component. , With respect to capital intensive industries where fixed costs are very large and hence cannot be ignored , With respect to service industries where employee costs are very large and almost fixed in nature


True/False
Question Debit Note is an intimation sent to person dealing with the business that his account is being credited for the purpose indicated therein.
Correct Answer False
Your Answer True


Multiple Choice Multiple Answer
Question Labour efficiency variance arises due to:
Correct Answer Inefficient supervisor , Poor working conditions , Use of sub-standard quality of material
Your Answer Inefficient supervisor , Poor working conditions , Use of sub-standard quality of material


True/False
Question Financial Accounting discloses the financial performance & financial statements of the business as a whole.
Correct Answer True
Your Answer True


True/False
Question Balance sheet indicates the expenditure & income from the business.
Correct Answer False
Your Answer True


Select The Blank
Question The indirect material cost, indirect labour cost and indirect expenses cost, collectively are termed as ________.
Correct Answer Overhead
Your Answer Overhead


Select The Blank
Question A person in charge of a ________ may be held responsible for its proper functioning and cost control.
Correct Answer Cost centre
Your Answer Cost centre


Multiple Choice Multiple Answer
Question The organization chart shows the following aspects :
Correct Answer Functional responsibility of different functional managers , Delegation of authority to various managers , Inter-functional relationships of these managers
Your Answer Functional responsibility of different functional managers , Delegation of authority to various managers , Inter-functional relationships of these managers


True/False
Question Uniform costing system is a pre-requisite to an inter-firm comparison of firms belonging to the different industries.
Correct Answer False
Your Answer False


True/False
Question P&L statement which is a period statement & relates to a certain period tells about results of operations.
Correct Answer True
Your Answer False


Select The Blank
Question Depreciation charged on office furniture on straight line basis is an example of ________.
Correct Answer Administration overheads
Your Answer Administration overheads


True/False
Question Under time rate system a worker is paid on the basis of production achieved by him in a given time.
Correct Answer False
Your Answer False


Select The Blank
Question Information as to the cost and profit / loss associated with the firm's operations is provided to the ________ by Management accounting.
Correct Answer Management
Your Answer Management


True/False
Question Danger level for inventory of materials means the safety stock of inventory.
Correct Answer False
Your Answer True


True/False
Question The role of the budget committee may be taken as an advisory role to the Chief Executive.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The main advantages of profit sharing are :
Correct Answer Employees try to increase productivity , Incentives are shared by all the employees , Augments emplyees' efficiency
Your Answer Employees try to increase productivity , Incentives are shared by all the employees , Augments emplyees' efficiency


Select The Blank
Question ________ Accounting assists the management in establishing the plans to attain the economic objectives and take proper decisions for the attainment of its objectives.
Correct Answer Management
Your Answer Management


Multiple Choice Multiple Answer
Question Which of the following is likely to be a contributory factor to the incidence of excess expenditure on material cost?
Correct Answer The level of control of the used of material in the production cycle , The incorrect choice of purchase order quantity , Failure to control the issue of materials from stores
Your Answer An increase in the maximum material inventory level , The incorrect choice of purchase order quantity , Failure to control the issue of materials from stores


Multiple Choice Multiple Answer
Question Management accounting is concerned with the following activities :
Correct Answer Decision making , Safeguarding assets , Planning and controlling activities
Your Answer Decision making , Safeguarding assets , Planning and controlling activities


Multiple Choice Multiple Answer
Question Features of double entry accounting system are . . .
Correct Answer Every business transaction has two elements , When business receives something, it has to pay something , Every debit has a corresponding credit
Your Answer Every business transaction has two elements , When business receives something, it has to pay something , Every debit has a corresponding credit


Select The Blank
Question Under Differential Time Rate method payment is made at Rs. 1.40 per hour when the level of efficiency is between________.
Correct Answer 90% to 100%
Your Answer 90% to 100%


True/False
Question Maintenance Department is a service cost centre.
Correct Answer True
Your Answer True


True/False
Question The process of accounting split into three steams i.e. financial, cost, management accounting.
Correct Answer True
Your Answer True


Select The Blank
Question The difference between sales and cost of sales is termed as ________.
Correct Answer Net Profit
Your Answer Net Profit


Select The Blank
Question The final result disclosed by trading account is the ________profit earned by the organization.
Correct Answer Gross
Your Answer Gross


Multiple Choice Multiple Answer
Question Select the accounts to be disclosed on the liability side of the Balance sheet.
Correct Answer Loan , Outstanding expenses , Creditors
Your Answer Loan , Outstanding expenses , Creditors


True/False
Question Penalty paid for delay in payment to creditors represents uncontrollable cost.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question Which document facilitates estimating material cost of a particular job, before completion of that job?
Correct Answer Bill of material
Your Answer Material requisition note


Multiple Choice Single Answer
Question Purchases returns of Rs.18,000/- were wrongly transferred to the sales returns account. Calculate its impact on net profit.
Correct Answer The net profit will not be affected
Your Answer The net profit will not be affected


Multiple Choice Single Answer
Question It is said that adoption of uniform costing creates customer confidence because . . .
Correct Answer Prices are reliable
Your Answer Prices are reliable


Multiple Choice Single Answer
Question An order for goods worth Rs.18,000/- was placed on 25th March, 2004. The goods were received on 1st April, 2004. Calculate the impact of this transaction on the final statements of accounts for the year ended 31st March, 2004.
Correct Answer The net profit will not be affected
Your Answer The net profit will not be affected