1.Which of the following is NOT a feature of management accounting information?

A. Focuses on future events B. Emphasizes relevance C. Reports are relatively detailed D. Emphasises the past

2. If total fixed cost is $8 000 and break-even point is 4 000 units, the contribution margin per unit will be: A. $0.5 B. $2 C. $20 D. $50

3. The amount by which an item contributes towards covering fixed cost and providing for profit is known as: A. gross profit B. gross margin C. contribution margin D. net margin

4. Managerial Accounting information: A. pertains to an entity and is highly aggregated B. pertains to subunits of the entity and may be very detailed C. is prepared only once a year D. is constrained by the requirements of IFRS

5. Which of the following adequately describes Management Accounting?

A. The process of identifying, measuring and analysing information

B. The process of identifying, measuring and accumulating information developed for managers

C. The process of identifying, measuring and accumulating information developed for external users

D. The process of identifying, measuring and analysing financial information only

6. Dairymaid Ltd produces ice cream, butter and other dairy products. Which of the following costs is a fixed cost? A. depreciation expense on factory buildings B. fuel used by delivery trucks C. cost of dairy ingredients used to produce butter D.wages of workers who mix dairy ingredients to make butter