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Correct Answer for the Question – Which of the following statements is valid? is given below The International Federation of Accountants (IFAC) stated that it was important that “accountants in business” should understand what the drivers of stakeholder value are. Which of the following statements is valid? Anyone with an interest in an organisation can be … Read more
Correct Answer for the Question – According to CIMA’s Code of Ethics, CIMA members should not allow bias, conflict of interest of the influence of other people to override their professional judgement. is given below According to CIMA’s Code of Ethics, CIMA members should not allow bias, conflict of interest of the influence of other people … Read more
Correct Answer for the Question – Which of the following statements regarding variances is valid? is given below Which of the following statements regarding variances is valid?Reference: https://accounting-simplified.com/management/variance-analysis/labor/rate.html Using higher quality material than standard could explain an adverse labour efficiency variance. Improved maintenance of production machinery could explain an adverse material usage variance. An adverse labour … Read more
Correct Answer for the Question – What year-to-date contribution to sales ratio (C/S ratio) would be reported at the end of month 10? is given below The year-to-date results at the end of month 9 included sales revenue of $3,600,000 and variable costs of $2,100,000.During month 10, sales revenue was $450,000 and variable costs were $270,000.What … Read more
Correct Answer for the Question – Which of the following is NOT a characteristic of useful operational level information? is given below Which of the following is NOT a characteristic of useful operational level information? Sufficiently accurate. Focused on the decision to be made. Available immediately. Governed by financial reporting standards. Correct Answer The Correct Answer … Read more
Correct Answer for the Question – The following data are available for a company that produces and sells a single product. is given below The following data are available for a company that produces and sells a single product.The company’s opening finished goods inventory was 2,500 units.The fixed overhead absorption rate is $8.00 per unit.The profit … Read more
Correct Answer for the Question – Which of the following statements about batch costing is true? is given below Which of the following statements about batch costing is true?Reference: https://www.acowtancy.com/textbook/acca-ma/c3-cost-accounting-methods/c3ai-job-and-batch-costing/notes Batch costing must use absorption costing. The cost of a batch is found by multiplying the cost of one unit by the number of units in … Read more
Correct Answer for the Question – Which of the following would NOT be an appropriate performance measure for a profit centre manager? is given below Which of the following would NOT be an appropriate performance measure for a profit centre manager? Return on capital employed Contribution per unit Sales price variance Gross margin Correct Answer The … Read more
Correct Answer for the Question – How many units would need to be sold in a period to earn a profit of $10,000? is given below A company which manufactures and sells one product has fixed costs of $80,000 per period. The selling price per unit of $25 generates a contribution/sales ratio of 40%.How many units … Read more
Correct Answer for the Question – A company’s policy is to hold closing inventory each month equal to 10% of the next month’s budgeted sales volume. The budgeted sales volumes of product Q for months 1 and 2 are 1,660 units and 2,300 units respectively. is given below A company’s policy is to hold closing inventory … Read more