Accounting For Managers

191. The main object of cost accounting is:

1. To record day to day transactions of the business
2. To reveal managerial efficiency
3. To ascertain true cost of products and services
4. To determine tender price

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192. The nature of financial accounting is

1. Historical
2. Forward looking
3. Analytical
4. Social

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193. An accounting that deals with the accounting and reporting of information to management regarding the detail information is

1. Financial accounting
2. Management accounting
3. Cost accounting
4. Real Accounting

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194. Bad debt amount should be credited to

1. Debtors account
2. Bad debts account
3. Sales account
4. Creditors account

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195. Management accounting concentrates on ______________

1. Opening books of account
2. Preparation of financial statements
3. Control of business activities
4. None of these

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196. Which of the following is not an internal user of management information?

1. Creditor
2. Department manager
3. Controller
4. Treasurer

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197. Double entry system is used in which type of accounting

1. Cost
2. Financial
3. Management
4. All

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198. Which type of asset class includes those assets which have only definite use and become valueless when the yield is over?

1. Fixed asset
2. Current asset
3. Fictitious asset
4. Wasting asset

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199. Cost accounting is applied to:

1. Public undertakings only
2. Large business enterprise only
3. Small business concerns only
4. Manufacturing and service concern

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200. Reserve for doubtful debts appearing in the trial balance should be:

1. credited to P & L a/c
2. Shown as liability side in balance sheet
3. Reduced from related asset in the balance sheet
4. Both a and b
5. Both a and c

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