Multiple choice fuck ups

Question 1

When businesses are divided into departments for costing​ purposes, the ones where the products have work performed on them are known as…..

Answer 1

Product cost centres

Question 2

An international accounting standard concerning​ _________ ensures that most large businesses implement a full cost approach to income measurement.

Answer 2

inventories

Question 3

Full costing is often supported on the grounds that it provides a useful guide to​ _________ costs.

Answer 3

long-run

Question 4

A cost centre​ is:

Answer 4

an area for which costs are accumulated 

Question 5

When adopting a full costing​ approach, the cost of service cost centres should be​ charged:

Answer 5

To product cost centres

Question 6

The objective of​ activity-based costing​ (ABC) is to derive the​ __________ cost of production

Answer 6

Full

Question 7

In​ activity-based costing​ (ABC), costs are allocated into…..

Answer 7

cost pool

Question 8

ABC has been criticised in exactly the same way as the traditional approach for not providing_________ information for decision makers.

Answer 8

Relevant

Question 9

ABC is most widely adopted in which ONE of the following broad business​ sectors?

Answer 9

Financial and Commercial

Question 10

What is management by exception?

Answer 10

Management by Exception (MBE) is a management style where leaders focus their attention only on significant deviations from expected results or standards — rather than overseeing every small detail or routine activity.

Question 11

What is feedforward control?

Answer 11

In management, feedforward control involves anticipating potential problems and taking proactive steps to prevent them before they impact the system