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- Subject
- Budgeting and Accountingaccounting-mcqs › cost-accounting-mcqs › budgeting-and-accounting
- Published
- 26 Apr 2023
- Last updated
- 28 May 2026
Explanation
The difference between budgeted amounts and actual results is known as variances. Standard deviation measures data spread, while mean average and weighted average refer to types of averages.
More Budgeting and Accounting MCQs
Practice related questions from the same subject.
- 1.Which type of department is managed by a person accountable for both expenses and income?
- 2.Which type of managerial responsibility focuses solely on controlling the company's costs?
- 3.What term is used to describe a manager who has a greater number of subordinates and operates at a higher managerial level?
- 4.What term describes the use of variables to indicate if strategies are successful or unsuccessful?
- 5.Which one of these represents a revenue center?
- 6.Which type of manager is accountable solely for generating the company's revenues?
- 7.What is the key characteristic of Kaizen Budgeting?
- 8.What is the name of the system that evaluates the budget, actions, and plans of each responsibility center?
More in Cost Accounting Mcqs
- Accounting Concepts
- Activity based Costing and Management
- Balanced Scorecard Quality, Time and Theory of Constraints
- Balanced Scorecard and Strategic Profitability Analysis
- Basics of Accounting
- Capacity Analysis and Inventory Costing
- Capital Budgeting and Cost Benefit Analysis
- Cost Allocation Joint Products and Byproducts
- Cost Allocation, Customer Profitability and Sales Variance Analysis
- Cost Function and Behavior
- Cost Management and Pricing Decisions
- Cost Volume Profit Analysis
- Decision Making Process and Information
- Department Costs, Common Costs and Revenues
- Direct Cost Variances and Management Control
- Financial Ratios Analysis
- Flexible Budget Overhead Cost Variance
- Flexible Budget and Management Control
- Fundamentals of Accounting
- Inventory Management, Just in Time and Costing Methods
- Job Costing
- Management Accounting in Organization
- Management Control Systems and Multinational Considerations
- Master Budget and Responsibility Accounting
- Overhead Cost Variances and Management Control
- Performance Measurement
- Process Costing
- Spoilage, Rework and Scrap