All Free Accounting MCQs with Answers
Every Accounting question in the bank, across all chapters, each with the correct answer and a written explanation. Free and unlimited, with no account needed.
1,971 questions · page 40 of 99
781. The continuous pressure of reducing the cost of products to be sold, is classified as ____________?
- A. supply efficiency
- B. material affectivity
- C. processing effective
- D. cost and efficiency
Explanation: Continuous pressure to reduce the cost of products while maintaining output reflects the cost-and-efficiency objective.
Correct answer: cost and efficiency- A. researching
- B. marketing
- C. acquaintance
- D. usefulness
Explanation: Marketing in the value chain includes selling and promoting products or services to prospective customers.
Correct answer: marketing- A. product design
- B. research steps
- C. useful chain
- D. value added
Explanation: Product design is the engineering and detailed planning stage in which the features, specifications, and production requirements of a…
Correct answer: product design- A. material accounting
- B. cost accounting
- C. supplies accounting
- D. business accounting
Explanation: Cost accounting collects and reports both monetary and operational information about materials, resources, and their acquisition or use.
Correct answer: cost accounting- A. line function
- B. staff function
- C. asset function
- D. investment function
Explanation: A plant manager performs a line function because the role has direct operational responsibility and authority over plant resources…
Correct answer: line function- A. staff management
- B. line management
- C. marketing management
- D. production managementGet Executive Coaching
Explanation: Line management covers the activities directly involved in producing and delivering goods or services, including marketing, production…
Correct answer: line management- A. addressing management
- B. research and development
- C. value development
- D. service provider
Explanation: Research and development involves experimenting and generating ideas to create or improve products and services.
Correct answer: research and development- A. future oriented
- B. past oriented
- C. communication oriented
- D. bank oriented
Explanation: Management accounting is future-oriented because managers use forecasts, budgets, and relevant cost information to plan and make…
Correct answer: future oriented- A. customer services
- B. utility services
- C. resource services
- D. acquiring services
Explanation: Customer services in the value chain include after-sales support provided to current or potential customers.
Correct answer: customer services- A. past management
- B. future management
- C. help management
- D. cost management
Explanation: Cost management covers decisions that control and improve the use of materials, processing methods, and plant operations.
Correct answer: cost management- A. flow chart analysis
- B. supply chain analysis
- C. resource chain analysis
- D. acquiring analysis
Explanation: Supply chain analysis examines the movement of materials, goods and services from procurement through production to final delivery.
Correct answer: supply chain analysis- A. learning
- B. alternating
- C. examining
- D. decidingGet Executive Coaching
Explanation: Learning in management accounting involves reviewing past performance, considering alternatives and using that knowledge to plan future…
Correct answer: learning- A. management factor
- B. time factor
- C. customer factor
- D. chain factorHire An Accountant
Explanation: The time required to develop and manufacture a new product is a time factor because it measures the duration of the product-creation…
Correct answer: time factor- A. resourcing
- B. value acquiring
- C. production
- D. value acquaintance
Explanation: Production covers coordinating and assembling resources such as materials, labour and equipment to create goods or services.
Correct answer: production- A. address management
- B. issue management
- C. strategic cost management
- D. managerial costGet Executive Coaching
Explanation: Strategic cost management links cost information with long-term competitive and strategic decisions, rather than addressing isolated…
Correct answer: strategic cost management- A. resource research
- B. market research
- C. utilization
- D. distribution
Explanation: Distribution is the value-chain activity concerned with delivering finished products or services to end customers.
Correct answer: distribution- A. cost of ongoing operations
- B. investments in physical assets
- C. training of managers
- D. all of above
Explanation: A cost-benefit analysis can include recurring operating costs, capital investment in physical assets and employee or management training…
Correct answer: all of above- A. help management
- B. cost management
- C. past management
- D. future managementHire An Accountant
Explanation: Cost management uses resources efficiently to increase the value received by customers while controlling costs.
Correct answer: cost management- A. quality
- B. management chain
- C. customer chain
- D. cost chain
Explanation: Quality management focuses on improving processes and the value delivered by products so that customer expectations are met or exceeded.
Correct answer: quality- A. technology management
- B. people management
- C. customer relationship management
- D. resource management
Explanation: Customer relationship management combines people, processes, and technology to build and improve relationships with customers across…
Correct answer: customer relationship management