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ACAMS Practice Questions
Accounting Cycle and Classifying Accounts
Accounting For Managers
Accounting for Merchandising Activities
Accounting for Pensions
Accounting Information Systems
Activity Based Costing
Adjusting Accounts for Financial Statements
Advanced Business Economics
Advertising and Public Relations
Advertising and Sales Promotion
An Overview of International Business
Analysis and Forecasting Techniques
Analyzing and Recording Transactions
Asset Demand and Supply under Uncertainty
Auditing and Attestation
Behavioral and Allied Sciences
Bonds and Long Term Notes Payable
Business Analytics & Technology Management Chapter 2
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Business Analytics & Technology Management Chapter 6
Business and Company Law
Business Ethics and Governance
Business Ethics Exam
Business Law Study guide
Business Organisations and Environment
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Business Process Performance
California Real Estate
Capital Budgeting and Managerial Decisions
Changes in Accounting Principles
Changing Marketing Environment
Consolidated Financial Statements
Corporate and Business Law
Cost Accounting Final exam
Cost Accumulation Systems
Cost Allocation Techniques
Cost and Managerial Accounting
Cost of Capital
Cost Terms and Classifications
Cost Volume Profit Analysis
Currency Exchange Rates
Customer Relationships and Value
CVP Analysis and Marginal Analysis
Debt and Bankruptcy
Decision Makers Household Sector
Demand for Money
Derivative Instruments and Hedging Activities
Dividends, Shares, and Income
Employee Training and Development
Environments of Business
Essence of Management
Ethical and Professional Standards
Ethics and Social Responsibility
Ethics for Management Accountants
External Financial Statements and Revenue Recognition
Federal Securities Acts
Financial and the Nonfinancial Sectors
Financial Decision Making
Financial Intermediaries and Financial Markets
Financial Markets and Securities Offerings
Financial Statements and Accounting Transactions
Flexible Budgets and Standard Costs
Florida Real Estate MCQs
Fundamental Accounting Principles
Global Marketing and World Trade
Governmental Accounting State and Local
Human Resource Management
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Human Resource Planning
Importance of Business Economics
Insurance and Risk Management
Integrated Marketing Communications and Direct Marketing
Interactive Marketing and Electronic Commerce
Internal Auditing and Systems Controls
Internal Control and Cash
Interpersonal and Organizational Communication
Introduction to Business
Introduction to Human Resource Management
Introduction to Human Resources Assessment
Investment Risk and Portfolio Management
Job Order Costing
Long Term Investment
Long Term Securities
Management and Cost Accounting
Managerial Accounting Concepts and Principles
Managing Organizational Change
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Managing Products and Brands
Market Segmentation Targeting and Positioning
Marketing and Corporate Strategies
Marketing Channels and Wholesaling
Master Budgets and Planning
Mergers and Acquisitions
Money and Banking
Not For Profit Accounting
Organization and Operation of Corporations
Organizational Behavior Essentials
Organizational Markets and Buyer Behaviour
Organizational Structure and Design
Personal Selling and Sales Management
Principles and Practices of Management
Production and Operations Management
Profitability Analysis and Analytical Issues
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Property Plant and Equipment
Reporting and Analyzing Cash Flows
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Standard Costs and Variance Analysis
Statement of Cash Flow
Statement of Comprehensive Income
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Stock Market and Stock Prices
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Structure of Interest Rates
Supply Chain and Logistics Management
System Analysis and Design
Texas Real Estate
The Management Challenge
Total Quality Management
Understanding Exchange Rates
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Management and Cost Accounting
Management and Cost Accounting MCQs
Which statement regarding management accounting is true?
Management accounts are prepared for parties external to the organization.
Management accounts are used by shareholders to compare one company with another.
The content of management accounts is strictly controlled by Accounting Standards and Financial Legislation.
Management Accounts are used by managers within the organization.
If actual units produced are lower than the budgeted level of production which of the following actual costs would you expect to be lower than the bud...
Variable costs per unit
Fixed costs per unit
Total variable costs
Total fixed costs
The following data relates to Lizard Ltd for last year :- Highest Lowest Monthly production cost £45,000 £31,000 Monthly machine hours 14,000 9,0...
The following relates to two levels of output :- 10,000 units 15,000 units Total cost £22,000 £27,000 The actual value of fixed costs assuming li...
Cannot be ascertained from the information given.
Which of the following best describes a fixed cost?
Represents a fixed proportion of total costs
Remains at the same level up to a particular level of output
Has a direct relationship with output
Its average remains at the same level as output increases
An example of a production overhead would be:-
Raw materials used in production
Costs of templates and moulds used in production
A semi variable cost would :-
Curve upwards from the origin as output increased.
Be more than zero if no products were made and would then increase in direct proportion to output.
Be a fixed amount when output was zero and would step up as output increased.
Be zero if output were zero and would change erratically as output increased
A company uses 9,000 units of a component per annum. The component has a purchase price of £40 per unit and the cost of placing an order is £160. Th...
The purchase price of a stock item is £25 per unit. In each three month period the usage of the item is 20,000 units. The annual holding costs assoc...
A company determines its order quantity for a component using the Economic Order Quantity (EOQ) model. What would be the effects on the EOQ and the t...
Lower No effect
Higher No effect
Which of the following would not be classed as an overhead:
an indirect production cost
a direct production cost
the rent of a manufacturing facility
the rent of a service provision facility
A company has two production departments and two service departments with the following fixed overheads: Production Service Department W X Y Z Ove...
The following details are available for a business: Machining Assembly Maintenance Administration area sq/m 5,000 6,000 2,000 1,200 no. of employee...
Which of the following statements is not true:
Overhead absorption rates should be based on estimates of future costs.
Overhead absorption rates should be based on estimates of output.
Overhead absorption rates should be calculated at the start of the relevant period.
Overhead absorption rates should be calculated at the end of the relevant period
can include both direct costs and indirect costs
can include both fixed costs and variable costs
can include both sunk costs and opportunity costs
can include either all or none of the above
Absorption costing will be applied to which of the following cost elements:
fixed production overhead
A company has the following details: Machining Assembly Total cost centre overhead £120,000 £180,000 Machine hours 15,000 9,000 Labour hours 2,0...
£60 per direct labour hour
£8 per direct machine hour
£20 per direct machine hour
£22.50 per direct labour hour
A business has an overhead absorption rate of £1.50 per labour hour. Actual hours incurred were 2,150. At the end of the period actual overheads amou...
there was an over-recovery of overhead of £275;
there was an under-recovery of overhead of £275;
actual money spent on paying overheads was £3,225;
actual money spent on paying overheads was £3,775
Each unit of product P requires: 1.5 kgs of material @£8 per kg 3 hours of machining @£10 2 hours of labour for assembly and inspection @£8 Mac...
A manufacturing company uses a machine hour rate to absorb production overheads, which were budgeted to be £130,500 for 9,000 machine hours. Actual o...
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