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CMA Intermediate Exam: Cost and Management Accounting
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Syllabus of the this paper:

Section A : Cost & Management Accounting 50%
1. Cost and Management Accounting - Introduction
2. Decision Making Tools
3. Budgeting and Budgetary Control
4. Standard Costing and Variance Analysis
5. Learning Curve

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CMA Intermediate Exam: Cost and Management Accounting
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25 Questions

1. When budget allowances are set without the involvement of the budget owner, the budgeting process can be described as:
2. The time taken for initial unit of a product is 100 hours. At 80% learning rate what is the total time for 4 units.
3. The basic decision rule on acceptance of special contracts is:
4. Which statement best describes the role of the management accountant?
5. CAS 9 is for direct expenses as issued by the Cost Accounting Standards Board (CASB) of the Institute of Cost Accountants of India.
6. When preparing a production budget, the quantity to be produced equals
7. Depreciation is an example of:
8. When quantity (kg) of material is the limiting factor, products are ranked based on contribution per unit.
9. AB company budgets for fixed overhead of Rs. 24,000 and Production of 4800 units. Actual Production is 4200 units. If fixed overhead cost increased is Rs. 22,000, the Fixed overhead volume variance will be
10. Bin card are not the part of accounting records.
11. One of the following is not within the scope of Management Accounting
12. Production cost includes only direct costs related to the production.
13. During the month of March, 560 kg of material was purchased at a total cost of Rs. 15,904. The stock of material increased by 15 kg. it is the company
14. When sales value (Rs. ) is the limiting factor, products are ranked based on Profit Volume ratio.
15. At breakeven point, margin of safety is nil.
16. Which of the following operating measures would a manager would like to see decreasing over time?
17. Type of accounting which measures, reports and analyse non-financial and financial information to help in decision making is called:
18. In a product mix decision, which is the most important factor to consider in order to try to maximize profit?
19. Budgeted sales for the next year is 5,00,000 units. Desired ending finished goods inventory is 1,50,000 units and equivalent units in ending WIP inventory is 60,000 units. The opening finished goods inventory for the next year is 80,000 units, with 50,000 equivalent units in beginning WIP inventory. How many equivalent units should be produced?
20. The use of management accounting is
21. A budget that gives a summary of all the functional budgets and projected Profit and Loss A/c is known as
22. In two consecutive periods, sales and profit were Rs. 1,60,000 and Rs. 8,000 respectively in the first period and Rs. 1,80,000 and Rs. 14,000 respectively during the second period. If there is no change in fixed cost between the two periods, the PV ratio must be:
23. Cost ledger control account makes the cost ledger self balancing.
24. Which of the following is an essential of a budget?
25. Operating costing is applicable to:

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