1. What is Management Accounting? What are the objectives of

Management Accounting?

2. What are the MAS (Management Advisory Services) standards and

ethical considerations. Enumerate and discuss briefly,

3. What is cost-volume-profit analysis? Why is the relationship of cost,

volume and profit important to management?

4. What is Responsibility Accounting? What benefits may be derived

from adopting responsibility accounting?

/5. In capital budgeting, briefly describe each of the following evaluation

methods:

a. Payback

b. Accounting rate of return

c. Net present value

d. Profitability index

e. Discounted cash flow and rate of return