$1.$ Managerial accounting:

A$.$ Is more future oriented than financial accounting.

B$.$ Tends to summarize information more than financial accounting

Is primarily concerned with providing information to external users.

C$.$ Is more concerned with precision than timeliness.

$2.\_\_\_\_\_\_\_\_\_\_$ costs are pre$-$determined targets against which actual results are evaluated.

A$.$ Marginal.

B$.$ Standard.

C$.$ Actual.

D$.$ Budgeted.

$3.$ Compared to financial accounting, managerial accounting places more emphasis on:

A$.$ The flexibility of information.

B$.$ The precision of information.

C$.$ The timeliness of information.

D$.$ Both A and C above.

$4.$ The function of management that compares planned results to actual results is known as:

A$.$ Planning.

B$.$ Directing and motivating.

C$.$ Controlling.

D$.$ Decision making.

$5.$ Which of the following are basic inventories for a manufacturer?

A$.$ Indirect materials, goods in process, and raw materials.

B$.$ Finished goods, raw materials, and direct materials.

C$.$ Raw materials, goods in process, and finished goods.

D$.$ Raw materials, factory overhead, and direct labour.

$6.$ The three basic elements of the cost of a manufactured product are:

A$.$ Indirect materials, indirect labour, and manufacturing overhead.

B$.$ Merchandise inventory, work in process, and finished goods inventory.

C$.$ Direct materials, work in process, and finished goods inventory.

D$.$ Direct materials, direct labour, and manufacturing overhead.

$7.$ Which of the following would not be an element of factory overhead?

A$.$ Salary of a marketing manager.

B$.$ Amortization on the maintenance equipment.

C$.$ Salary of the plant supervisor.

D$.$ Property taxes on the plant buildings.

$8.$ A direct cost is a cost that is classified by:

A$.$ Traceability.

B$.$ Behavior.

C$.$ Controllability.

D$.$ Relevance.

$9.$ A firm had beginning finished goods inventory of RM$25,000$; ending finished goods inventory of RM$20,000$; and its cost of goods sold was RM$100,000.$ The cost of goods manufactured was:

A$.$ RM$95,000.$

B$.$ RM$85,000.$

C$.$ RM$75,000.$

D$.$ RM$65,000.$

$10.$ Which of the following is a period cost?

A$.$ direct materials.

B$.$ indirect materials.

C$.$ factory utilities.

D$.$ administrative expenses.