1. Which of the following is correct?

1. Qualitative data is generally non-numerical information
2. Information can only be extracted from external sources
3. Operational information gives details of long-term plans only.

2. The manager of a profit center is responsible for which of the following?

1. Revenues of the centre
2. Cost of the centre
3. Assets employed in the centre

1. (i) only
2. (ii) only
3. (i) and (ii) only
4. i), (ii) and (iii)

3. Which of the following would be best described as a short-term tactical plan?

1. Reviewing cost variances and investigate as appropriate
2. Comparing actual market share to budget
3. Lowing the selling price by 15%
4. Monitoring actual sales to budget

4. All of the following may be cost objects except:

1. a cost centre
2. a customer
3. a manager
4. a product

8. The following statements refer to strategic planning:

1. It is concerned with quantifiable and qualitative matters
2. It is mainly undertaken by middle management in an organisation.
3. It is concerned predominantly with the long term

which of the statements are correct?

1. (i) and (ii) only
2. (i) and (iii) only
3. (ii) and (iii) only
4. (i), (ii) and (iii)

10. Cost centres are

1. Units of product or service for which costs are ascertained
2. amounts of expenditure attributable to various activities
3. Functions or locations for which costs are ascertained
4. a section of an organisation for which budgets are prepared and control exercised.

11. A direct cost is cost which

1. is incurred as a direct consequence of a decision
2. can be economically identified with the item being costed
3. the material cost of a product
4. the cost of operating a department