Reference no: EM132933534

Problem 1: Which of the following statements is correct?

A Management accounting systems provide information for use in fulfilling legal requirements

B Management accounting systems provide information for the use of decision-makers within an organisation

C Management accounting systems provide information for use by shareholders

D Management accounting systems provide information for use by tax authorities

The information below belongs to ABC company in industrial area for the year 2019 polishing process.

Output to finished goods 7,408 units valued at ksh 49,744

Normal loss 576 units

Actual loss 212 units

All losses have a residue of ksh 4.50 per unit and no opening nor closing work in progress.

Problem 2: What was the value of the input during the period? calculate the value of the input in the period.

A Ksh.49,987

B Ksh.49,744

C Ksh.52,336

D Ksh.48,987

Problem 3: Which of the following statements about management accounting information is/are true?

(i) They must be stated in purely monetary terms.

(ii) Limited companies must, by law, prepare management accounts.

(iii) They serve as a future planning tool and are not used as an historical record.

A (i), (ii) and (iii)

B (i) and (ii)

C (ii) only

D None of the statements is true