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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

An approach in which the managers use the resources to increase customer value is classified as __________?
A help management
B cost management
C past management
D future management
Correct Answer: cost management
If the budgeted price of input is $70, actual quantity of input is 250 units and the allowed budgeted quantity of input is 90 units, then efficiency variance will be ___________?
A $23,800
B $11,200
C $12,200
D $13,200
Correct Answer: $11,200
An amount by which the total cost changes with respect to the change in level of activity is classified as ____________?
A activity coefficient
B cost coefficient
C change coefficient
D slope coefficient
Correct Answer: slope coefficient
The process of analyzing and reviewing financial records to check the integrity of company financial reports is called __________?
A internal audit
B external audit
C functional audit
D treasury audit
Correct Answer: internal audit
In management control, an efficiency variance is also referred as __________?
A control variance
B uncontrolled variance
C usage variance
D effective variance
Correct Answer: usage variance
In adjustment issues of costing, the database must contain reliable measure of __________?
A fixed cost driver
B cost driver and cost
C cost driver and object
D mixed cost driver
Correct Answer: cost driver and cost
In financial accounting, the investors, banks, suppliers and government agencies are classified as _____________?
A external parties
B internal parties
C environmental parties
D transactional parties
Correct Answer: external parties
In cost accounting, the goal of variance analysis is to ___________?
A understand variance reason
B improve future performance
C learning of improvement
D all of above
Correct Answer: all of above
The most frequently used methods of quantitative analysis include __________?
A variable equation
B high low method
C low high method
D constant equation
Correct Answer: high low method
The philosophy, in which the management works to improve value chain of the products, to exceed customer expectations is classified as ____________?
A quality
B management chain
C customer chain
D cost chain
Correct Answer: quality
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