1.Choose the statement that best completes this sentence: 'Traditional managementaccounting focuses on ...'

Select one:

a.external reporting, labour-related activity measures and cost elimination.

b.budgets, financial performance measures and cost control.

c.non-financialperformancemeasures,externalreportingandcostcontrol.

d.financialperformancemeasures,externalreportingandcostelimination.

2.With respect to the flow of manufacturing costs through the accounts, what does theending balance of work in process account show?

Select one:

a.The amount of costs incurred for the period.

b.The amount of cost to be transferred to cost of goods sold.

c.The total costs for completed jobs.

d.The total costs for incomplete jobs.

3.Consider the following statements. Conventional costing systems can producedistorted product costs if:

i. overheads are driven by non-volume factors

ii. overheads are a minor part of the product cost

iii. it fails to recognise non-manufacturing costs as product costs

Which of the statements is true?

Select one:

a.i

b.iii

c.ii

d.i and iii