F2试题库.docx

1、F2试题库Choice two or two above true answer from mutiple answer1、Which of the following satements about management accounts are false? ( )A They must be stated in purely moneary termsB Limited companies must, by law ,prepare mangement accountsC They serve as a future planning tool and are not used an h

2、istorical record. 2 which of the following is the manager of a profit centre likely to have control? ( ) A Selling prices B Controllable costs C Apportioned head office costs D Capital investment in the centre3 Which of the following items might be a suitable cost unit within the credit control depa

3、rtment? ( ) A Stationery cost B Customer account C Cheque received and processedWhich of the following functions are fulfilled by a goods received note( GRN)? ( ) A Provides information toupdate the inventory records on receipt of goods B Provides information to check the quantity on the suppliers i

4、nvoice C Provides information to check the price on the suppliers invoice. 8 Which of the following is correct with regard to inventories? ( ) A Stock-outs arise when too little inventory is held. B Safety inventories are the level of units maintained in case there is unexpected demand. C A re-order

5、 level can be established by looking at the maximum usage and the maximum lead-time.which of the following statements are true about group bonus schemes? ( ) A Group bonus schemes are appropriate when increased output depends on a number of people all making exra effort. B With a group bonus scheme,

6、 it is easier to award each individuals performance C Non-production employees can be rewarded as part of a group incenive scheme .10 which of the following statements about predeermined overhead absorption rates are true ? ( ) A Using a predeteriminked absorption rate avoids fluctuations in unit co

7、sts caused by abnormally high or low overhead expenditure or activity levelsB Using a predetermined absorption rate offers the administraive convenience of being able to record full producion costs sooner.C Using a predeermined absorption rate avoids problems of under/over absorption of overheads be

8、cause a constant rate is available.11 Factory overheads can be absorbed by which of the following mehods ? ( ) A Direct labour hours B Machine hours C As a percenage of prime cost D per unit12 The productin overhead control account for R Limited at the end of the period looks like this Production ov

9、erhead control account $ $Stores control 22,800 work in progress 404,800Wages control 180,400 Profit and loss 8,400Expense creditors 210,000 413,000 413,200Which of the following statements are correct? ( )A Indirect material issued from inventory was $22,800B Overhead absorbed during the period was

10、 $210,000C Overhead for the period was over absorbed by $8,400D Indirect wages costs incurred were $180,400 13 Which of the following are acceptable bases for absorbing production overheads? ( ) A Direct labour hours B Machine hours C As a percentage of the prime cost D Per unit14 Which of the follo

11、wing may be considered to be objetives of budgeting? ( ) A Co-ordination B Communication C Expension D Resource allocationIn a situation where there are no production resoure limitions which of the following items of information must be available for the production budget to be completed? ( ) A Sale

12、s volume from the dales budget B Material purchases from the purchases budget C Budgeted change in finished goods inventory D Stantard direct labour cost per unit16 A master budget comprises : ( ) A The budgeted income statement B The budgeted cash flow C The budgeted balance sheet D The entire set

13、of budgets prepared17 Which of the following are a functional budget? ( ) A Cash budget B Production budget C Selling cost budget D Distribution cost budget18 Which of the following would be directly relevant to the determination of standard labour times per unit of output? ( ) A The type of perform

14、ance standard to be used B The volume of output from the production budget C Technical specifications of the proposed production methods.1.Standard costing provides which of the following? ( ) A Targets and measures of performance B Informance for budgeting C Simplification of inventory control syst

15、ems D Actual future costs.20 Which of the following statements is correct? ( ) A An adverse direct material cost variance will always be a combination of an adverse material price variance and an adverse maerial usage variance B An adverse direct material cost variance will always be a combination o

16、f an adverse maerial price variance and a favourable material usage variance. C An adverse direct material cost variance can be a combination of an adverse material price variance and a favourable maerial usage variance D An adverse direct material cost variance can be a combination of a favourable

17、material price variance and an adverse maerial usage variance21 which of the following would help to explain a favourable direct labour efficiency variance? ( ) A Employees were of a lower skill level than specified in the standard B Better quality material was easier to process C Suggestion for imp

18、roved working methods were implemented during the period.Which of the following statements about overhead absorption rates are not true? ( ) A They are predetermined in advance for each period B They are used to charge overheads to products C They are based on actual data for each period D They are

19、used to control overhead costs26 Which one of the following statements about a fixed budget are correct? A fixed budget is : ( ) A A budget which ignores inflation B A budget for fixed assets C A budget which is most generally used for planning purposes D A budget for a single level of activity E A

20、budget for fixed costs.27 If a more expensive material than the standard materials used in the productionof product A ,There will be an adverse material price variance. Which of the following might be an interrelated variance? ( ) A A favourable sales volune variance B A favourable labour efficiency

21、 variance C A favourable material usage variance D A favourable sales price variance30 Which of the following are descriptions of a semi-variable costs? ( ) A Rent of a photocopier; the rent cost is $250 per month if the number of copies taken is less than 8,000. if the number of copies exceeds 8,00

22、0 the minthly rental increases to $300 B Hire of a delivery vehicle:the hire costs is $800 per month ,plus $0.07 per mile travelled C A piecework scheme with a guaranteed day rate31 Which of the following are classified as direct materials? ( ) A Cleaning materials used to clean he factory floor B C

23、omponent parts ordered for a specific job C Part finished goods transferred into a process from an earlier process D Maintenance materials used to repair machines32 Which of the following criticisms of standard costing dont apply in all circumstance? ( ) A Standard costing can only be used where all

24、 operations are repetitive and output is homogeneous. B Standard costing systems cannot be used in environments which are prone to change. They assume stable conditions C Standard costing systems assume that performance to standard is acceptable. They do not encourage continuous inprovement.33 In a

25、situation where there are no production resource limitations,which of the following must be available for the material usage budget to be completed? ( ) A Standard material usage per unit B Budgeted production volume C The budgeted average lead time for delivery of materials D budgeted change in mat

26、erial inventory.34 Which of the following statements about a standard hour are correct? A standard hour is : ( ) A Always equivalent to a clock hour B Useful for monitoring output in a standard costing system C Any hour during which no idle time ocurs D The quantity of work achievable at standard pe

27、rformance in an hour. E A basis for measuring output when dissimilar products are manufacturd F An hour throughout which units of the same type are made.35. which of the statements are true?( ) A if a sample is selected using random sampling, it will be free from bias B a sampling frame is a numbere

28、d list of all items in a sample C cluster sampling is a non probability sampling method D in quota sampling , investigators are told to interview all the people they meet up to a certain quota.36. which of the following are true? ( ) A with FIFIO, the inventory valuation will be very close to replac

29、ement cost B with LIFO, inventories are issued at a price which is close to the current market value C decision making can be difficult with both FIFO and LIFO because of the variations in prices. D a disadvantage of the weighted average method of inventory valuation is that the resulting issue price i