Exam Management Accounting
School of Economics and Management /HES
Management Accounting
Year 1
Answers
Codes: MA1VP1EL01-, MA1VP1ES02, - MA1VP1FAO1-, MA1VP1IM01 -,MA1VP1TA01 - Test 2-resit
Programs: IBMS, IBL, IFM,IM and TMA
Date: January 23, 2013
Time: 17.15-19.15 hrs
Allowed: HvA-calculator (non-programmable) Scrap paper
Not allowed: Dictionary, books, other papers than handed out
Number of points per question:
Question
I
II
III
IV
V
Total
Points
10
10
10
10
10
50
Grade = (Total number of points) / 5.0
NOTE: Answer only on the answer sheet provided and not on this question paper. Show your calculations (except for multiple-choice questions or when otherwise stated). In case of multiple-choice questions, choose the best alternative. Hand in both the question paper and your answer sheet.
Question 1 MULTIPLE CHOICE QUESTIONS 1 point per question (10 points)
1. A master budget is a compilation of forecasts for the coming year or operating cycle made by various departments or functions within an organization. What is the most basic forecast made in a master budget?
a. Sales forecast
b. Production forecast
c. Labor forecast
d. Materials forecast
2. Financial budgets include
a.
pro forma statements, a sales budget, and a cost of goods manufactured budget.
b.
a budgeted income statement and budgeted balance sheet only.
c.
a budgeted income statement, budgeted balance sheet, and cash budget.
d.
pro forma statements, a capital expenditures budget, and a cash budget.
3. Which of the following is a true statement?
a.
The direct materials purchases budget is determined from the direct labor budget.
b.
The only budget providing input into the revenue budget is the sales budget.
c.
The direct materials purchases budget and the capital expenditures budget are both determined from the production budget.
d.
The selling and administrative expense budget is input into the
Management Accounting
Year 1
Answers
Codes: MA1VP1EL01-, MA1VP1ES02, - MA1VP1FAO1-, MA1VP1IM01 -,MA1VP1TA01 - Test 2-resit
Programs: IBMS, IBL, IFM,IM and TMA
Date: January 23, 2013
Time: 17.15-19.15 hrs
Allowed: HvA-calculator (non-programmable) Scrap paper
Not allowed: Dictionary, books, other papers than handed out
Number of points per question:
Question
I
II
III
IV
V
Total
Points
10
10
10
10
10
50
Grade = (Total number of points) / 5.0
NOTE: Answer only on the answer sheet provided and not on this question paper. Show your calculations (except for multiple-choice questions or when otherwise stated). In case of multiple-choice questions, choose the best alternative. Hand in both the question paper and your answer sheet.
Question 1 MULTIPLE CHOICE QUESTIONS 1 point per question (10 points)
1. A master budget is a compilation of forecasts for the coming year or operating cycle made by various departments or functions within an organization. What is the most basic forecast made in a master budget?
a. Sales forecast
b. Production forecast
c. Labor forecast
d. Materials forecast
2. Financial budgets include
a.
pro forma statements, a sales budget, and a cost of goods manufactured budget.
b.
a budgeted income statement and budgeted balance sheet only.
c.
a budgeted income statement, budgeted balance sheet, and cash budget.
d.
pro forma statements, a capital expenditures budget, and a cash budget.
3. Which of the following is a true statement?
a.
The direct materials purchases budget is determined from the direct labor budget.
b.
The only budget providing input into the revenue budget is the sales budget.
c.
The direct materials purchases budget and the capital expenditures budget are both determined from the production budget.
d.
The selling and administrative expense budget is input into the