Ace Your BA3 Exam!
orderly-maple8
Created 1/28/2025
Test your knowledge and get ready to ace your BA3 exam with this challenging quiz, designed to help you succeed!
1. Which costing method allocates indirect costs to units based on pre-determined overhead rates?
Variable costing
Opportunity costing
Marginal costing
Absorption costing
2. What is the main role of a flexible budget in management accounting?
To allocate resources equally
To compare past financial years
To set fixed financial goals
To modify plans for actual business activity
3. Which technique aids short-term decision making by assessing relevant costs?
Job costing
Marginal costing
Absorption costing
Standard costing
4. Which statement accurately reflects the 'matching principle' in accounting?
Revenue is noted when payments are made
Assets are listed at purchase cost
Costs are matched with their associated revenues
Liabilities are acknowledged upon payment
5. What is a defining trait of a 'zero-based budget'?
Using incremental cost basis
Justifying all expenditures anew
Reducing expenditures uniformly
Repeating prior year spending
