MCQ Practice Questions 1) Managerial accounting a) b) c) d) has its primary emphasis on the future is required by regulatory bodies focuses on the organisation as a whole, rather than on the organisation's segments All of the above are correct 2) Which of the following is NOT an objective of managerial accounting? a) To provide information for products and services costing. ADOB b) c) d) To provide information for planning, controlling and decision-making. To provide information for budgeting and performance evaluation. To provide information for annual financial reporting. 3) Misnap is a manufacturing firm. In April, it had a beginning inventory balance in its raw materials of $37,000 and an ending inventory of $29,000. Raw materials purchases during the month totalled $57,000. The raw materials used in April were a) $63,000 b) $57,000 ADOB c) $65,000 d) $55,000 4) Which of the following BEST represent a product cost? a) Direct materials cost + Conversion costs. b) c) d) Direct materials cost + Overhead + Direct labour costs. Overhead + Prime costs. All of the above