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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 kind of costs that has been occurred in past are also known as __________?
A unrecorded costs
B recorded costs
C sunk costs
D bunked costs
Correct Answer: sunk costs
The costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as ___________?
A carrying costs
B purchasing costs
C stock-out costs
D ordering costs
Correct Answer: carrying costs
An investment of money in idle inventory, in place of investing the same amount of money somewhere else is an example of ___________?
A offshore cost
B outsource cost
C in-source cost
D opportunity cost
Correct Answer: opportunity cost
An ability of an accounting system, to point out the use of resources in every step of production process is called ___________?
A back-flush trails
B audit trails
C trigger trails
D lead manufacturing trails
Correct Answer: audit trails
In broader categories, the outcomes of decisions are classified as __________?
A sunk factors
B quantitative factors
C qualitative factors
D both B and C
Correct Answer: both B and C
If the cost per unit is $70 and the total number of units manufactured in company are 6000, then the total manufacturing cost would be _____________?
A $240,000.00
B $320,000
C $210,000
D $420,000
Correct Answer: $420,000
The first step in decision making process is to ___________?
A identify the problem
B identify the linear variable
C identify the certainty
D identify the multiplier
Correct Answer: identify the problem
If the total manufacturing cost is $40000 and the total units manufactured is 500 units, then the per unit cost would be __________?
A $80
B $65
C $7
D $35
Correct Answer: $80
When an essential information for calculation of income statement is missing, then the costs that can be considered for this purpose is called _____________?
A expected cost
B expected revenues
C irrelevant costs
D relevant costs
Correct Answer: relevant costs
If the cost per unit is $50 and the total number of units manufactured in company are 5000, then the total manufacturing cost will be __________?
A $220,000
B $232,000
C $250,000
D $25,000
Correct Answer: $250,000
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