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BA2 Exam Dumps : Fundamentals of management accounting

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Fundamentals of management accounting Questions and Answers

Question 1

A company uses an integrated accounting system.

The accounting entries for the sale of goods on credit would bE.

Options:

A.

Debit: Receivables control accountCredit: Sales account

B.

Debit: Sales accountCredit: Finished Goods Control account

C.

Debit: Receivables control accountCredit: Cost of sales account

D.

Debit: Sales accountCredit: Receivables control account

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Question 2

Refer to the Exhibit.

A company operates an absorption costing system. The management accounts show that fixed production overheads were over-absorbed in the period.

Which FOUR combinations could possibly have resulted in this situation?

Options:

A.

Combination A

B.

Combination B

C.

Combination C

D.

Combination D

E.

Combination E

F.

Combination F

G.

Combination G

Question 3

The possible returns and associated probabilities of two independent projects are as follows:

It has been decided that both projects are to be launched.

Which TWO of the following statements are correct? (Choose two.)

Options:

A.

The expected value of the total return is $41,500 gain.

B.

The probability of the total return being a loss is 0.10.

C.

The probability of making a total return of exactly $5,000 gain is 0.02.

D.

The probability of the total return being a gain is less than 1.00.

E.

The expected value of the total return is $40,000 gain.