ZAI Quiz – Based on ACCA MA2: Managing Costs and Finance
Total Questions: 10 | Multiple Choice | One Correct Answer Each
1. Which of the following is a fixed cost?
A. Direct materials
B. Production supervisor salary
C. Power used by machines
D. Sales commission
2. What is meant by ‘contribution’ in cost accounting?
A. Sales revenue minus overheads
B. Profit before tax
C. Sales revenue minus variable costs
D. Net profit after fixed costs
3. Which costing method uses predetermined overhead absorption rates?
A. Marginal costing
B. Absorption costing
C. Activity-based costing
D. Standard costing
4. A semi-variable cost is one that:
A. Varies directly with production
B. Remains fixed for all output levels
C. Contains both fixed and variable components
D. Changes at fixed intervals
5. The break-even point is the level of output where:
A. Profit is maximised
B. Sales revenue equals total costs
C. Variable costs equal fixed costs
D. Marginal cost equals average cost
6. Which of the following is NOT a financial statement?
A. Statement of financial position
B. Income statement
C. Trial balance
D. Statement of cash flows
7. What is the main purpose of budgeting?
A. To calculate the tax payable
B. To prepare the financial statements
C. To plan and control business activities
D. To determine break-even output
8. What is the formula for Return on Capital Employed (ROCE)?
A. Net profit / Total assets
B. Operating profit / Capital employed × 100
C. Gross profit / Revenue
D. Net assets / Total liabilities
9. Which of the following would be classed as a capital expenditure?
A. Purchase of raw materials
B. Wages for production workers
C. Purchase of a delivery van
D. Utility bill payment
10. In marginal costing, fixed costs are treated as:
A. A cost per unit
B. Product costs
C. Period costs
D. Direct costs
✅ Answers:
- B
- C
- B
- C
- B
- C
- C
- B
- C
- C
