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Management Sciences 5307 MCQs [All-Courses]

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Management Sciences focuses on the planning, organizing, leading, and controlling of resources to achieve organizational goals.This subject is highly important for competitive exams, academic study, and professional careers in the business and public sectors.

All Topics  5307

If an allocated indirect cost is $1500 and the actual incurred indirect cost is $1200, then this is classified as __________?
A applied indirect cost
B applied direct cost
C incurred indirect cost
D over allocated indirect cost
Correct Answer: over allocated indirect cost
The methods used to allocate costs of reciprocal support departments include ____________?
A direct method
B step down
C reciprocal method
D all of above
Correct Answer: all of above
The budgeted annual indirect costs are divided to budgeted annual quantity of cost allocation base, to calculate ___________?
A expected indirect cost rate
B expected direct cost rate
C budgeted indirect cost rate
D budgeted direct cost rate
Correct Answer: budgeted indirect cost rate
In incremental cost allocation method, the cost object user who is ranked second in ranking order is known as ____________?
A First incremental user
B primary user
C secondary user
D second incremental user
Correct Answer: First incremental user
Total cost of producing similar products divided by number of units produced is a technique known as ____________?
A sale costing system
B job costing system
C price costing system
D process costing system
Correct Answer: process costing system
The method, which allocates the cost of support department, to operating and support departments is known as ___________?
A indirect method
B direct method
C step down method
D reciprocal method
Correct Answer: step down method
The spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as __________?
A proration approach
B appreciation approach
C depreciation approach
D adjusted approach
Correct Answer: proration approach
The method, which allocates cost of support department for operating departments by recognizing all the mutual services provided is classified as ___________?
A indirect method
B direct method
C step down method
D reciprocal method
Correct Answer: reciprocal method
In an accounting system, the document which supports journal entries is classified as _____________?
A cost document
B priced document
C source document
D direct document
Correct Answer: source document
According to incremental method, the party which receives the highest ranking in allocation of common cost is classified as ____________?
A Third incremental party
B second incremental party
C primary party
D First incremental party
Correct Answer: primary party
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