Accounting For Managers 81. Sunk costs are:
relevant for decision making Not relevant for decision making cost to be incurred in future future costs View answer Correct answer: (B)
82. Information about an item is ______________ if its omission or misstatement might influence the financial decision of the users taken on the basis of that information
Concrete Complete Immaterial Material View answer Correct answer: (D)
83. Proposed dividends" is shown in the Balance Sheet of a company under the head:
Provisions Reserves and Surplus Current Liabilities Other Liabilities View answer Correct answer: (A)
84. Authorized capital, also known as
ominal capital Paid up capital Issues capital None of these View answer Correct answer: (A)
85. Trade Payables are recorded in ______________
Asset side of B/S Liability side of B/S P & L a/c None of the above View answer Correct answer: (B)
86. Cost accounting emerged mainly on account of:
Statutory requirements Competition in the market Labour unrest Limitations of financial accounting View answer Correct answer: (D)
87. Rent paid to landlord should be credited to
Landlords account Rent account Cash account Expense account View answer Correct answer: (C)
88. The primary objective of management accounting is
Prepare final a/c Provide management complete and true information Both (a) & (b) None of these View answer Correct answer: (B)
89. Cost of goods sold= opening stock+ net purchases+ expenses on Purchases – sales Which part of formula is wrong?
opening stock net purchases expenses on Purchases sales View answer Correct answer: (D)
90. Interest on drawings is:
Expenditure for the business Cost for the business Gain for the business None of the above View answer Correct answer: (C)