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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 cost function, in which the graph of total cost would not result in straight line is classified as _______?
A nonlinear cost function
B linear cost function
C linear price function
D nonlinear price function
Correct Answer: nonlinear cost function
An availability of after sale support, to the existing or potential customers in value chain analysis is known as ___________?
A customer services
B utility services
C resource services
D acquiring services
Correct Answer: customer services
If the actual cost is $265000 and the flexible budget cost is $156000, then the flexible budget variance will be ___________?
A $409,000
B $109,000
C $209,000
D $309,000
Correct Answer: $109,000
An assumption, which states that there must be linear relationship between independent variable and dependent variable is __________?
A irrelevant range of linearity
B relevant range of linearity
C significant range
D insignificant range
Correct Answer: relevant range of linearity
An availability of financial information, to oversee operations and system of accounting is known as ____________?
A manager ship
B controllership
C proprietorship
D functional line
Correct Answer: controllership
An unfavorable variance in static budget is also known as _________?
A favorable variance
B adverse variance
C adverse standard deviation
D unfavorable variance
Correct Answer: adverse variance
In cost accounting, the conference, quantitative analysis and account analysis methods are considered as __________?
A cost estimation methods
B price estimation methods
C unit estimation method
D variable estimation method
Correct Answer: cost estimation methods
An officer responsible for financial operations of organization is considered as ___________?
A chief financial officer
B chief manager
C chief line function
D chief staff function
Correct Answer: chief financial officer
If the budgeted input price is $80 and the price variance is $40, then an actual price will be ___________?
A $20
B $120
C $40
D $60
Correct Answer: $120
The component of total cost, which never changes with change in level of production is classified as _________?
A fixed cost
B constant
C variable
D both a and b
Correct Answer: fixed cost
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