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11 ACCA Management Accounting questions with answers and explanations.
Printable worksheet with answer key
Which sampling method divides the population into groups and selects from each group in proportion to its size?
Correct answer: Stratified sampling
Stratified sampling makes sure each group is represented.
2,000 units cost $9,000 and 4,000 units cost $13,000. Using the high-low method, what is the estimated cost of 3,000 units?
Correct answer: $11,000
Variable cost = 4,000 / 2,000 = $2. Fixed cost = $5,000. Cost of 3,000 units = 5,000 + 6,000 = $11,000.
A correlation coefficient of -0.9 indicates:
Correct answer: A strong negative linear relationship
A value close to -1 means that as one variable rises the other falls, strongly.
A regression gives a coefficient of determination (r squared) of 0.81. What does this mean?
Correct answer: 81 percent of the variation in the dependent variable is explained by the independent variable
r squared is the proportion of variation explained.
A regression line is y = 12 + 1.3x. What is the forecast for x = 60?
Monthly sales are 12, 15, 18, 15 and 21 units. What is the second three-month moving average?
Correct answer: 16
The averages are (12+15+18)/3 = 15, (15+18+15)/3 = 16 and (18+15+21)/3 = 18.
The trend value for a quarter is 400 units and the additive seasonal variation is -30. What is the forecast?
Correct answer: 370 units
Additive: trend plus the variation, 400 - 30 = 370.
A Laspeyres price index uses weights based on:
Correct answer: Base period quantities
Laspeyres uses base period quantities and Paasche uses current period quantities.
There is a 30 percent chance of $40,000, a 50 percent chance of $60,000 and a 20 percent chance of $100,000. What is the expected value?
Correct answer: $62,000
0.3 x 40,000 + 0.5 x 60,000 + 0.2 x 100,000 = 62,000.
The standard deviation of a data set is 12 and the mean is 60. What is the coefficient of variation?
Correct answer: 20%
Coefficient of variation = standard deviation / mean = 12 / 60.
Which of the five characteristics of big data describes the speed at which data is generated?
Correct answer: Velocity
Velocity is speed, volume is size, variety is the different forms and veracity is accuracy.