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Chartered Management Accountants (CIMA)
The Chartered Institute of Management Accountants (CIMA)
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Mcqs
Past Paper
Fani Warraich
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Flexible budget is a budget with the following features
A. Changes with variable expenses.
B. Changes with fixed expenses.
C. Changes with volume of production.
D. Remains the same.
Fani Warraich
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Break Even can be calculated as under
A. FC I- VC TR.
B. ______VC_______ FC - TR TC.
C. All of these.
D. None of these.
Fani Warraich
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Sales budget must be prepared
A. Depending on production capacity.
B. Based on marketing efforts.
C. Based on average market volume.
D. Based on Sales forecasts of market.
Jamal Khan
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Fixed Cost
A. remains the same if rent increase.
B. changes with production.
C. Never changes even if production capacity is doubled.
D. None of these.
Jamal Khan
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Conversion cost is equal to
A. Labour Cost + Overhead Cost.
B. Direct Labour + Material Cost.
C. Material Cost + Overhead Cost.
D. None of these.
Jamal Khan
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Process Costing method is related to
A. Flour industry.
B. Furniture industry.
C. Cement industry.
D. All of these.
Jamal Khan
MANAGEMENT SCIENCES
-
Cost & Management Accounting
A good Cost Accounting System is
A. If it enables management to increase productivity and rationalize cost structure.
B. If it cannot be reconciled with financial accounts.
C. If it computes estimated cost only.
D. If it only calculate cost figures.
Bashir Farooqi
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Net income plus operating expenses is equal to
A. Cost of goods available for sale.
B. Net sales.
C. Gross profit.
D. None of these.
Bashir Farooqi
MANAGEMENT SCIENCES
-
Cost & Management Accounting
The maximum number of partners in Pakistan can be fixed at the following
A. 10.
B. 20.
C. 30.
D. 40.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Cost & Management Accounting
The master budget comprises of
A. A balance sheet.
B. An income statement.
C. Cash budget.
D. All of above.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Cost volume profit analysis is the method used to estimate the impact on profit is of changes in
A. Sale volume.
B. Unit sale price.
C. Unit variable cost.
D. All of these.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Cost & Management Accounting
In a manufacturing company product cost include
A. Material + Labour + Overhead cost.
B. Labor + overhead cost.
C. All of these.
D. None of these.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Cost & Management Accounting
When purchase merchandise is returned under a perpetual inventory system a credit would be made to
A. Purchases.
B. Purchase return.
C. Carriage in.
D. Stock.
Fani Warraich
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Which of the fallowing accounts would not be included in the computation of the cost of goods sold
A. Purchases.
B. Freight in.
C. Purchase discount lost.
D. Purchase discount.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Cost & Management Accounting
Total manufacturing cost for a period includes all of the fallowing except
A. Total material cost.
B. Total labour cost.
C. Total overhead cost.
D. Cost of finished goods.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Financial Management
Sources of funds can be increased by
A. Increasing selling prices.
B. decreasing revenues.
C. Increasing expenses.
D. None of these.
Bashir Farooqi
MANAGEMENT SCIENCES
-
Financial Management
Economic resources of a business that are expected to be of benefit in the future are referred to as
A. Assets.
B. Liabilities.
C. Owner's equity.
D. None of these.
Bashir Farooqi
MANAGEMENT SCIENCES
-
Financial Management
An owner investment of land into the business would
A. Increase owner’s equity.
B. Increase withdrawls.
C. Decrease liabilities.
D. None of these.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Financial Management
Quick Asset includes which of the fallowing
A. Cash.
B. Marketable securities.
C. Debtors.
D. A & B above.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Taxation Management
For which taxpayer Income Tax rates are the same
A. Banking companies in pakistan.
B. Limited liability companies.
C. Partnerships.
D. None of these.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Taxation Management
If a firm has paid super-tax, its partners may follow any one of the following behaviors
A. No need to pay income tax, even if the income exceeds the taxable limit.
B. Pay income tax as required under the law.
C. Pay income tax, even if the income does not exceed the taxable income.
D. None of these.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Taxation Management
Income Tax is levied on
A. Premptive income.
B. Presemptive income.
C. Superlative income.
D. Luxurious income.
Bashir Farooqi
MANAGEMENT SCIENCES
-
Public Finance
Rapid Financing Instrument” and “Rapid Credit Facility” are related to the provisions of lending by which one of the following
A. United Nations Environment Programme Finance Initiative.
B. International Monetary Fund.
C. Asian Development Bank.
D. World Bank.
Fani Warraich
MANAGEMENT SCIENCES
-
Public Finance
With reference to the “G20 Common Framework”, consider the following statements. 1. It is an initiative endorsed by the G20 together with the Paris Club. 2. It is an initiative to support Low Income Countries with unsustainable debt. Which of the statements given above is/are correct?
A. 1 only.
B. 2 only.
C. Both 1 and 2.
D. None of these.
Muhammad Tayyab Ikhlas
MANAGEMENT SCIENCES
-
Public Finance
Pakistan follows the following budgeting system at Federal level
A. Procedural budgeting.
B. Cost benefit budgeting.
C. Incremental / decremental budgeting.
D. None of these.
Contributor(4)
Fani Warraich
Bashir Farooqi
Jamal Khan
Muhammad Tayyab Ikhlas
