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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

The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as________?
A Direct cost
B Variable cost
C Commercial cost
D Conversion cost
Correct Answer: Commercial cost
Which of the following accounts are closed at the end of an accounting period?
A Nominal accounts
B Balance sheet accounts
C Real accounts
D None of them
Correct Answer: Nominal accounts
Costs that change in response to alternative courses of action are called___________?
A Relevant costs
B Differential costs
C Target costs
D Sunk costs
Correct Answer: Differential costs
Which of the following is a real account?
A Office equipment
B Rent expenses
C Rent income
D Insurance expense
Correct Answer: Office equipment
An average cost is also known as________?
A Variable cost
B Unit cost
C Total cost
D Fixed cost
Correct Answer: Unit cost
___________ helps business to classify transactions according to their nature?
A General journal
B Real accounts
C Ledger accounts
D Cash accounts
Correct Answer: Ledger accounts
When production is equal to sales, which of the following is TRUE?
A No change occurs to inventories for either use absorption costing or variable costing methods
B The use of absorption costing produces a higher net income than the use of variable costing
C The use of absorption costing produces a lower net income than the use of variable costing
D The use of absorption costing causes inventory value to increase more than they would though the use of variable costing
Correct Answer: No change occurs to inventories for either use absorption costing or variable costing methods
Office equipments account is classified as _________ account?
A Nominal
B Real
C Cash
D Capital
Correct Answer: Real
Which English alphabet is similar to the shape of an account?
A I
B T
C H
D None
Correct Answer: T
Building account is classified as _________ account?
A Nominal
B Real
C Cash
D Capital
Correct Answer: Real
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