A The nature, source and purpose of management information

Written by Mahnoor Sheikh (ACCA)

اے سی سی اے · مینجمنٹ اکاؤنٹنگ · 8 سوالات

نام: ____________________ تاریخ: ____________

Which of these is a feature of management accounting information, compared with financial accounting?
- A It must follow IFRS Accounting Standards
- B It is published for shareholders
- C It only reports past transactions
- D It is prepared for internal use and can look to the future
What is the difference between data and information?
- A Data is always more reliable than information
- B Information is data that has been processed into a form that is useful to the user
- C Information is raw facts and figures
- D They mean the same thing
Which cost is a non-production cost?
- A Factory rent
- B The salaries of sales staff
- C Direct materials
- D The wages of machine operators
A cost has a fixed element of $2,000 a month and a variable element of $3 per unit. What is the cost at 1,500 units?
- A $2,000
- B $4,500
- C $6,500
- D $8,000
Which is an example of a stepped fixed cost?
- A Electricity charged per kilowatt hour
- B Raw materials used per unit
- C A fixed annual insurance premium for one factory
- D A supervisor who is needed for every 20 additional workers
A manager is responsible for both the revenue and the costs of a division, but not for the assets used. What kind of centre does the manager run?
- A A profit centre
- B A cost centre
- C An investment centre
- D A revenue centre
Which of these is secondary data?
- A The entity's own sales invoices
- B Statistics published by a government agency
- C Readings from a sensor on the entity's machine
- D Results of a survey the entity ran itself
Which chart is most suited to showing each product's share of total sales?
- A A scatter graph
- B A frequency table only
- C A line graph
- D A pie chart

جوابی کلید

1. D, 2. B, 3. B, 4. C, 5. D, 6. A, 7. B, 8. D

Management accounting serves managers and has no required format. Financial accounting is for external users and follows standards.
Raw data becomes information when it is processed and put in context.
Selling costs are non-production costs and are not included in inventory values.
2,000 + (3 x 1,500) = 6,500.
A stepped cost stays the same over a range of activity and then rises in a step.
Profit centre managers control revenue and costs. Investment centre managers are also responsible for assets.
Secondary data was collected by someone else, for another purpose.
A pie chart shows proportions of a whole.