Objective Question – Page 2

MI – May 2015 – L1 – SA – Q20 – Computer Hardware, Software, and Data Life Cycle

Identify the data transmission phenomenon with a clock signal.

Question

Data transmission phenomenon where data is transferred regularly with clock signal is called
A. Asynchronous data transfer
B. Simplex data transfer
C. Duplex data transfer
D. Synchronous data transfer
E. Regular data transfer

Answer

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Tags: Data Transmission, Information Systems, Multiple Choice, Objective Question
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2015

MI – May 2015 – L1 – SA – Q19 – Computer Hardware, Software, and Data Life Cycle

Identify the name of the device that combines scanner, printer, fax, and copier.

Question

A device that combines the capabilities of a scanner, printer, fax, and copying machine is called
A. Output device
B. Facsimile transmission machine
C. Multifunctional device
D. MICR
E. Dumb terminal

Answer

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Tags: Computer Hardware, Multifunctional Device, Multiple Choice, Objective Question
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2015

MI – May 2015 – L1 – SA – Q18 – Computer Hardware, Software, and Data Life Cycle

Identify the odd one out among input devices.

Question

Identify the odd one among the following devices
A. Joystick
B. Touch Screen
C. Dot-matrix
D. Light Pen
E. Mouse

Answer

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Tags: Computer Hardware, Input Devices, Multiple Choice, Objective Question
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2015

MI – May 2015 – L1 – SA – Q17 – Computer Hardware, Software, and Data Life Cycle

Identify the incorrect reason for upgrading storage capacity on a microcomputer system.

Question

A major consideration for an upgrade of a microcomputer system is an increase in storage capacity because of the following EXCEPT
A. Inadequate space to store files
B. Inadequate space to install new programs
C. Lack of secure place to backup important files
D. Inability to download large files from the internet
E. Inability to log-on to internet

Answer

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Tags: Computer Hardware, Multiple Choice, Objective Question, Storage
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2015

MI – May 2015 – L1 – SA – Q16 – Computer Hardware, Software, and Data Life Cycle

Identify the term used for processed data or information from a computer system.

Question

Processed data or information from a computer system is called
A. Input-output
B. Hardcopy
C. Softcopy
D. Output
E. Input

Answer

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Tags: Data Processing, Information Systems, Multiple Choice, Objective Question
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2015

MI – May 2015 – L1 – SA – Q15 – Computer Hardware, Software, and Data Life Cycle

Identify the correct characteristic of real-time processing.

Question

Real-Time Processing Technique is characterised by
A. High turn-around time
B. Low turn-around time
C. Medium turn-around time
D. Very high turn-around time
E. Very little turn-around time

Answer

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Tags: Information Systems, Multiple Choice, Objective Question, Processing Time
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2015

MI – May 2015 – L1 – SA – Q14 – Computer Hardware, Software, and Data Life Cycle

Identify the transaction processing technique with severe time limitation.

Question

A transaction processing technique with severe time limitation is called
A. Time Sharing Processing
B. Distributed Processing
C. Real-Time Processing
D. Multi-tasking
E. Multi-processing

Answer

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Tags: Information Systems, Multiple Choice, Objective Question, Processing Techniques
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2015

MI – May 2015 – L1 – SA – Q13 – Information Systems

Identify the management level Decision Support Systems (DSS) are designed for.

Question

Decision Support Systems (DSS) provides non-routine decision-making for
A. Senior Management
B. Middle Management
C. Executive Programmer
D. Desk Officer
E. System Analyst

Answer

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Tags: Decision Support Systems, Information Systems, Multiple Choice, Objective Question
Level: Level 1

Topic: Information Systems
Series: MAY 2015

MI – May 2015 – L1 – SA – Q12 – Budgeting

Identify when a cost variance is said to be favourable.

Question

In measuring budget performance, an item of cost is said to have favourable variance when
A. Actual costs of operation are higher than budgeted costs
B. Budgeted costs of operation are less than actual costs
C. Actual costs of operation are less than budgeted costs
D. Budgeted costs of operation are equal to actual costs
E. Budgeted costs of operation are not available

Answer

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Tags: Budgeting, Multiple Choice, Objective Question, Variance Analysis
Level: Level 1

Topic: Budgeting
Series: MAY 2015

MI – May 2015 – L1 – SA – Q11 – Information Systems

Identify which feature is not part of a good coding system.

Question

Which of the following is NOT a feature of a good coding system?
A. Uniqueness
B. Brevity
C. Mnemonic
D. Indexing
E. Non-ambiguity

Answer

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Tags: Coding Systems, Multiple Choice, Objective Question
Level: Level 1

Topic: Information Systems
Series: MAY 2015

MI – May 2015 – L1 – SA – Q10 – Introduction to Cost Accounting

Identify the factor that does not contribute to good cost accounting information.

Question

Which of the following factors may NOT contribute to a good cost accounting information for management use?
A. Timeliness
B. Relevance
C. Accuracy
D. Efficiency
E. Clarity

Answer

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Tags: Cost Accounting, Information Quality, Multiple Choice, Objective Question
Level: Level 1

Topic: Introduction to Cost Accounting
Series: MAY 2015

MI – May 2015 – L1 – SA – Q9 – Accounting for Cost Elements

Identify the factor that does not lead to labour turnover.

Question

Which of the following factors may NOT lead to labour turnover in an organisation?
A. Unsatisfactory working conditions
B. Mid-month salaries
C. Low wages
D. Lack of amenities
E. Lack of job security

Answer

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Tags: Employee Retention, Labour Turnover, Multiple Choice, Objective Question
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAY 2015

MI – May 2015 – L1 – SA – Q8 – Basic Variance Analysis

Identify the variance type based on volume multiplied by standard absorption rate.

Question

The difference between actual and budgeted production volume multiplied by the standard absorption rate per unit is known as
A. Fixed overhead capacity variance
B. Fixed overhead efficiency variance
C. Fixed overhead volume variance
D. Fixed overhead total variance
E. Fixed overhead expenditure variance

Answer

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Tags: Fixed Overhead, Multiple Choice, Objective Question, Variance Analysis
Level: Level 1

Topic: Basic Variance Analysis
Series: MAY 2015

MI – May 2015 – L1 – SA – Q7 – Budgeting

Identify the type of budget that starts from scratch each time it is prepared.

Question

A budget whose preparation starts from scratch is known as
A. Rolling budget
B. Flexible budget
C. Zero-based budget
D. Activity-based budget
E. Fixed budget

Answer

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Tags: Budgeting, Multiple Choice, Objective Question, Zero-Based Budgeting
Level: Level 1

Topic: Budgeting
Series: MAY 2015

MI – May 2015 – L1 – SA – Q6 – Accounting for Cost Elements

Calculate gross pay based on the time saved and premium bonus.

Question

If one employee produces 360kgs, what is his gross pay for the day?
A. N80
B. N100
C. N104
D. N124
E. N180

Answer

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Tags: Gross Pay, Labour Costing, Multiple Choice, Objective Question
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAY 2015

MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

Question

The document required by the purchase department to enable it to place an order for replenishment of stock is
A. Purchase order
B. Store requisition
C. Proforma invoice
D. Waybill
E. Material usage note

Answer

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Tags: Multiple Choice, Objective Question, Purchasing, Stock Replenishment
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAY 2015

MI – May 2015 – L1 – SA – Q4 – Cost-Volume-Profit Analysis

Determine the total profit based on the data provided.

Question

What is the total profit?
A. N1,500
B. N1,875
C. N3,000
D. N3,500
E. N4,150

Answer

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Tags: Costing, Multiple Choice, Objective Question, Profit
Level: Level 1

Topic: Cost-Volume-Profit (CVP) Analysis
Series: MAY 2015

MI – May 2015 – L1 – SA – Q3 – Cost-Volume-Profit (CVP) Analysis

Calculate the variable cost per unit based on the given dat

Question

The variable cost per unit is
A. N8.00
B. N7.50
C. N6.25
D. N5.50
E. N5.00

Answer

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Tags: Break-Even Point, Costing, Multiple Choice, Objective Question
Level: Level 1

Topic: Cost-Volume-Profit (CVP) Analysis
Series: MAY 2015

MI – May 2015 – L1 – SA – Q2 – Budgeting

Identify which component is NOT part of the working capital cycle.

Question

Which of the following is NOT a component of the working capital cycle?
A. Debtors
B. Finished goods
C. Work-in-progress
D. Raw materials
E. Overdraft

Answer

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Tags: Multiple Choice, Objective Question, Working Capital
Level: Level 1

Topic: Budgeting
Series: MAY 2015

MI – May 2015 – L1 – SA – Q1 – Costing Methods

Identify which option is not a costing method.

Question

Which of the following is NOT a costing method?
A. Batch costing
B. Operation costing
C. Job costing
D. Standard costing
E. Service costing

Answer

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Tags: Costing Methods, Multiple Choice, Objective Question
Level: Level 1

Series: MAY 2015

Question Tag: Objective Question

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MI – May 2015 – L1 – SA – Q20 – Computer Hardware, Software, and Data Life Cycle

Identify the data transmission phenomenon with a clock signal.

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MI – May 2015 – L1 – SA – Q19 – Computer Hardware, Software, and Data Life Cycle

Identify the name of the device that combines scanner, printer, fax, and copier.

You're reporting an error for "MI – May 2015 – L1 – SA – Q19 – Computer Hardware, Software, and Data Life Cycle"

MI – May 2015 – L1 – SA – Q18 – Computer Hardware, Software, and Data Life Cycle

Identify the odd one out among input devices.

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MI – May 2015 – L1 – SA – Q17 – Computer Hardware, Software, and Data Life Cycle

Identify the incorrect reason for upgrading storage capacity on a microcomputer system.

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MI – May 2015 – L1 – SA – Q16 – Computer Hardware, Software, and Data Life Cycle

Identify the term used for processed data or information from a computer system.

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MI – May 2015 – L1 – SA – Q15 – Computer Hardware, Software, and Data Life Cycle

Identify the correct characteristic of real-time processing.

You're reporting an error for "MI – May 2015 – L1 – SA – Q15 – Computer Hardware, Software, and Data Life Cycle"

MI – May 2015 – L1 – SA – Q14 – Computer Hardware, Software, and Data Life Cycle

Identify the transaction processing technique with severe time limitation.

You're reporting an error for "MI – May 2015 – L1 – SA – Q14 – Computer Hardware, Software, and Data Life Cycle"

MI – May 2015 – L1 – SA – Q13 – Information Systems

Identify the management level Decision Support Systems (DSS) are designed for.

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MI – May 2015 – L1 – SA – Q12 – Budgeting

Identify when a cost variance is said to be favourable.

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MI – May 2015 – L1 – SA – Q11 – Information Systems

Identify which feature is not part of a good coding system.

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MI – May 2015 – L1 – SA – Q10 – Introduction to Cost Accounting

Identify the factor that does not contribute to good cost accounting information.

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MI – May 2015 – L1 – SA – Q9 – Accounting for Cost Elements

Identify the factor that does not lead to labour turnover.

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MI – May 2015 – L1 – SA – Q8 – Basic Variance Analysis

Identify the variance type based on volume multiplied by standard absorption rate.

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MI – May 2015 – L1 – SA – Q7 – Budgeting

Identify the type of budget that starts from scratch each time it is prepared.

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MI – May 2015 – L1 – SA – Q6 – Accounting for Cost Elements

Calculate gross pay based on the time saved and premium bonus.

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MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

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MI – May 2015 – L1 – SA – Q4 – Cost-Volume-Profit Analysis

Determine the total profit based on the data provided.

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MI – May 2015 – L1 – SA – Q3 – Cost-Volume-Profit (CVP) Analysis

Calculate the variable cost per unit based on the given dat

You're reporting an error for "MI – May 2015 – L1 – SA – Q3 – Cost-Volume-Profit (CVP) Analysis"

MI – May 2015 – L1 – SA – Q2 – Budgeting

Identify which component is NOT part of the working capital cycle.

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MI – May 2015 – L1 – SA – Q1 – Costing Methods

Identify which option is not a costing method.

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