WMBA 6050A Accounting for Management Decision Making Midterms (Qns & Ans) 2026

WMBA 6050A Accounting for Management Decision Making Midterms (Qns & Ans) 2026
1. Which of the following best describes the concept of
"activity-based costing" (ABC)?
 - A) Allocating overhead costs based on direct labor hours
 - B) Allocating overhead costs based on activities that drive
costs
 - C) Allocating overhead costs based on machine hours
 - D) Allocating overhead costs based on sales revenue
 - ANS: B) Allocating overhead costs based on activities that
drive costs
 - Rationale: ABC allocates overhead costs based on activities
that drive costs, providing more accurate cost information.
2. What is the primary purpose of a budget in management
accounting?
 - A) To increase product prices
 - B) To provide a financial plan for the future
 - C) To reduce operational costs
 - D) To develop marketing strategies
 - ANS: B) To provide a financial plan for the future
 - Rationale: A budget serves as a financial plan that outlines
expected revenues and expenses for a future period.
3. Which of the following is a key characteristic of a flexible
budget?
 - A) It remains unchanged regardless of activity levels
 - B) It adjusts based on changes in activity levels
 - C) It is only used for long-term planning
 - D) It is based on historical data
 - ANS: B) It adjusts based on changes in activity levels

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