Management Accounting - Study Mode
[#411] Fixed cost per unit decreases when
Correct Answer
(C) production volume increases
[#412] Marketing, production and management of distribution comes under category of
Correct Answer
(B) line management
Explanation
Solution: Marketing, production and management of distribution comes under category of line management. Line management is the universal term which refers to the style of administrative management of a businesses employees.
[#413] Function of plant manager, in which he is responsible for new assets investment is termed as
Correct Answer
(A) line function
Explanation
Solution: Function of plant manager, in which he is responsible for new assets investment is termed as line function. Line function is the one which is directly involved in the core work of an organization. It involves the primary activities such as manufacturing, selling, purchasing etc which are required to meet the business objectives.
[#414] Process of analyzing and reviewing financial records to check integrity of company financial reports is a/an
Correct Answer
(A) internal audit
Explanation
Solution: Process of analyzing and reviewing financial records to check integrity of company financial reports is an internal audit. An internal audit offers risk management and evaluates the effectiveness of a company's internal controls, corporate governance, and accounting processes.
[#415] Type of accounting, which reports financial and non-financial data about cost of material and acquiring of resources is classified as
Correct Answer
(B) cost accounting
Explanation
Solution: Type of accounting, which reports financial and non-financial data about cost of material and acquiring of resources is classified as cost accounting. Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense.