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ACCT20001 Cost Management programmable University of Melbourne

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University of Melbourne

ACCT20001 Cost Management programmable University of Melbourne

ACCT20001 Cost Management
Department of Accounting
Faculty of Business and Economics
Mid‐semester Test: Semester 1, 2015
Student Number:
Signature:
Examination Details:
Reading Time Five (5) minutes
Exam Duration One (1) hour
Exam Booklet This paper has twenty-two (22) pages
Authorised Materials:
Candidates are permitted to use non-programmable calculators.
Instructions to Invigilators:
Candidates ARE NOT permitted to write during reading time.
Dictionaries ARE NOT permitted to be used.
This examination booklet IS NOT to be removed from the examination venue.
Instructions to Students:
This paper consists of thirty (30) multiple choice questions, each worth one (1) mark. For each
question select the best answer from those listed.
Marks are not deducted for incorrect answers.
This paper represents twenty (20) % of the total assessment for this subject.
Clearly label this examination booklet with your student number. Also ensure that your last name,
first name and student identification number are clearly and correctly filled in on your answer sheet.
DO NOT write your responses in this examination booklet. All questions must be answered on the
answer sheet provided. Failure to use the answer sheet will result in a mark of ZERO (0).
It is strongly recommended that you use 2B pencil in completing the answer sheet.
The examination booklet and answer sheet are not to be removed from the examination venue and
must be submitted intact. If your examination booklet is not left with your answer sheet you will
receive a mark of ZERO (0).
Do not open this examination booklet until you are instructed to do so.
Question One
Which of the following purposes can management accounting information be used for
1. To help make strategic decisions
2. To determine compensation of executives
3. To ensure resources are used efficiently
a. Statement 3 only
b. Statement 2 only
c. Statement 1 and 2 only
d. Statement 2 and 3 only
e. Statement 1,2 and 3
Question Two
Consider the following statements about cost management:
1. Focuses on actions that managers undertake in the short-run, with less emphasis on the long run
2. Has the goal of minimising cost
3. Involves the planning and control of costs
Which of the following is true?
a. Statement 1, 2 and 3
b. Statement 1 only
c. Statement 3 only
d. Statement 1 and 2 only
e. Statement 1 and 3 only
Question Three
Which of the following is NOT a possible characteristic of a short term decision?
a. Where some of the inputs/costs cannot be varied
b. Has the objective of ensuring that we get the most out of existing resources
c. Made with the help of information from performance evaluation
d. Tries to ensure that the supply of all the different resources used matches their respective demands
e. None of the above – i.e., ALL are possible characteristics of short term decisions
Question Four
Which of the following cost items are relevant to The Big Bank Company’s decision on whether to close
down its Branch A OR Branch B?
1. A cost item that will be incurred in the future by both Branch A and Branch B
2. A cost item that will be incurred in the future if Branch A remains open but will not be incurred if Branch
B remains open
3. A cost item that has already been incurred by Branch A; but has not and will not be incurred by Branch
B.
a. Cost items 1, 2 and 3
b. Cost item 2 only
c. Cost items 1 and 2 only
d. Cost items 2 and 3 only
e. Cost items 1 and 3 only

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ACCT20001 Cost Management programmable University of Melbourne

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