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Tutorial 1

This document contains a 10 question quiz about management accounting concepts. The questions cover topics such as the qualities of good information, types of planning, uses of management accounting information, components of a management control system, and distinguishing between data and information. Correct answers are provided for self-assessment.

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12 views2 pages

Tutorial 1

This document contains a 10 question quiz about management accounting concepts. The questions cover topics such as the qualities of good information, types of planning, uses of management accounting information, components of a management control system, and distinguishing between data and information. Correct answers are provided for self-assessment.

Uploaded by

audreyleongbusiness
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Management Accounting BAC3233

Tutorial 1
1. Which of the following statements about the qualities of information are true?
A. It should be relevant for its purposes
B. It should be communicated to the right person
C. It should be completely accurate
D. It should be provided whatever the cost

2. The sales manager has prepared the manpower plan to ensure the sales quotas for the
forthcoming year is achieved. This is an example of what type of planning?
A. Strategic Planning
B. Tactical Planning
C. Operational Planning
D. Corporate Planning

3. Which of the following statements about management accounting information are


true?
A. They may include non-financial information
B. They are required by law to produce
C. They are used to aid planning
D. They are for use by parties external to the organisation

4. Which of the following statements is/are correct?


i. A management control system is a term used to describe the hardware and
software used to drive a database system which produces information outputs
that are easily assimilated by management.
ii. An objective is a course of action that an organisation might pursue in order to
achieve its strategy.
iii. Information is data that has been processed into a form that is meaningful to the
recipient.
A. i, ii, iii
B. i and iii
C. ii and iii
D. iii only

5. Good information should have certain qualities. Which of the following are required as
qualities of good information system?
A. Complete
B. Extensive
C. True and Fair
D. Accurate
6. Monthly variance reports are an example of which one of the following types of
management information?
A. Tactical
B. Strategic
C. Non-financial
D. Operational

7. Which of the following statements is / are correct?


i. Information for decision making should incorporate uncertainty in some way.
ii. The data use to prepare financial accounts and management accounts are the
same.
A. i is true and ii is false.
B. ii is true and i is false.
C. Both are true
D. Both are false

8. Which of the following process takes place at the business planning stage?
A. Obtaining data about actual results.
B. Taking corrective actions
C. Comparing actual performance with budget
D. Establishing objectives

9. Which of the following statements is / are correct?


A. Management accounting systems provide information for use in fulfilling legal
requirements.
B. Management accounting systems provide information for the use of decision
making within an organisation.
C. Management accounting system provides information for use by shareholders.
D. Management accounting system provides information for use by tax authorities.

10. Which of the following two would be data rather than information?
A. Sales increase / decrease per product in the last quarter
B. Total sales value per product
C. Total material usage
D. Sales staff commission as a percentage of total sales

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