END OF SEMESTER EXAMINATION MANAGEMENT ACCOUNTING

SET 1 END OF SEMESTER EXAMINATION SEMESTER 2, 2012/2013 SESSION KULLIYYAH OF ECONOMICS AND MANAGEMENT SCIENCES Programme : BBA Level of Study : 3 Time : 2.30 pm – 5.30 pm Date : 26/05/2013 Duration : 3 Hr(s) 0 Min(s) Course Code : ACC 3515 Section(s) : 1-4 Course Title : Management Accounting (This Question Paper Consists of 9 Printed Pages including the cover page) DO NOT OPEN UNTIL YOU ARE ASKED TO DO SO INSTRUCTION(S) TO CANDIDATES 1. ANSWER ALL QUESTIONS. 2. SHOW ALL WORKINGS. 3. DO NOT WRITE IN PENCIL ANY FORM OF CHEATING OR ATTEMPT TO CHEAT IS A SERIOUS OFFENCE WHICH MAY LEAD TO DISMISSAL APPROVED BY: 1 SET 1 SECTION A –†¦show more content†¦petroleum refining. B. chemicals. C. truck tire manufacturing. D. wood pulp production. E. automobile repair. 3 SET 1 12. Which of the following statements about similarities between process costing and job-order costing are true? I. Both systems assign production costs to units of output. II. Both systems require extensive knowledge of financial accounting. III. The flow of costs through the manufacturing accounts is essentially the same. A. I only. B. I and III. C. II and III. D. III only. E. I, II, and III. 13. In a process-costing system, manufacturing costs are accumulated by: A. batch. B. batch and time period. C. department. D. department and time period. E. department or process, and time period. 14. Unit costs in a process-costing system are derived by using: A. in-process units. B. completed units. C. physical units. D. equivalent units. E. a measure of activity other than those listed above. 15. Cost management systems tend to focus on an organization s: A. machines. B. employees. C. activities. D. customers. E. rules and regulations. 16. The biggest challenge in making a decentralized organization function effectively is: A. earning maximum profits through fair practices. B. minimizing losses. 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