Question 1

Management accounting

Accepted Answer

A) is more concerned with the future than is financial accounting. 
B) is less concerned with segments of a company than is financial accounting. 
C) is more constrained by rules and regulations than is financial accounting. 
D) all of the above are true. 
A) is more concerned with the future than is financial accounting. 
B) is less concerned with segments of a company than is financial accounting. 
C) is more constrained by rules and regulations than is financial accounting. 
D) all of the above are true. A

Question 2

Broadly speaking,cost accounting can be defined as a(n)

Accepted Answer

A) external reporting system that is based on activity-based costs. 
B) system used for providing the government and creditors with information about a company's internal operations. 
C) internal reporting system that provides product costing and other information used by managers in performing their functions. 
D) internal reporting system needed by manufacturers to be in compliance with Cost Accounting Standards Board pronouncements. 
A) external reporting system that is based on activity-based costs. 
B) system used for providing the government and creditors with information about a company's internal operations. 
C) internal reporting system that provides product costing and other information used by managers in performing their functions. 
D) internal reporting system needed by manufacturers to be in compliance with Cost Accounting Standards Board pronouncements. C

Question 3

Modern management accounting can be characterized by its

Accepted Answer

A) flexibility. 
B) standardization. 
C) complexity. 
D) precision. 
A) flexibility. 
B) standardization. 
C) complexity. 
D) precision. A

Question 4

The Institute of Management Accountants' Code of Ethics

Accepted Answer

A) is a legally enforceable contract with all management accountants. 
B) should be viewed as a goal for professional behavior. 
C) is a legally enforceable contract with all CPAs. 
D) provides ways to measure departures from ethical behavior. 
A) is a legally enforceable contract with all management accountants. 
B) should be viewed as a goal for professional behavior. 
C) is a legally enforceable contract with all CPAs. 
D) provides ways to measure departures from ethical behavior.

Question 5

Financial accounting is most concerned with addressing the needs of the firm as a whole.

Accepted Answer

A) True 
 B)False

Question 6

An organization's strategy is the guiding force for its mission.

Accepted Answer

A) True 
 B)False

Question 7

The learning and growth perspective of the balanced scorecard focuses on using an organization's intellectual capital to adapt to or influence customer needs and expectations.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following U.S.legislation relates to bribes being offered to foreign officials?

Accepted Answer

A) Racketeer Influenced and Corrupt Organizations Act 
B) Foreign Illegal Activities Act 
C) Foreign Corrupt Practices Act 
D) Federal Bribery and Corrupt Practices Act 
A) Racketeer Influenced and Corrupt Organizations Act 
B) Foreign Illegal Activities Act 
C) Foreign Corrupt Practices Act 
D) Federal Bribery and Corrupt Practices Act

Question 9

The ___________________________________ restates an organization's strategy into clear and objective performance measures.

Accepted Answer

The answer of The ___________________________________ restates an organization's strategy into...

Question 10

The value chain

Accepted Answer

A) reflects the production of goods within an organizational context. 
B) is concerned with upstream suppliers,but not downstream customers. 
C) results when all non-value-added activities are eliminated from a production process. 
D) is the foundation of strategic resource management. 
A) reflects the production of goods within an organizational context. 
B) is concerned with upstream suppliers,but not downstream customers. 
C) results when all non-value-added activities are eliminated from a production process. 
D) is the foundation of strategic resource management.

Question 11

The way in which authority and responsibility are distributed in an organization is ___________________________________.

Accepted Answer

organizati

Question 12

Outcomes that have resulted from past actions are also referred to as ____________________ indicators.

Accepted Answer

The answer of Outcomes that have resulted from past actions...

Question 13

Cost accounting is necessitated by

Accepted Answer

A) the high degree of conversion found in certain businesses. 
B) external reporting requirements for manufacturing companies. 
C) management's need to be aware of all production activities. 
D) management's need for information to be used for planning and controlling activities. 
A) the high degree of conversion found in certain businesses. 
B) external reporting requirements for manufacturing companies. 
C) management's need to be aware of all production activities. 
D) management's need for information to be used for planning and controlling activities.

Question 14

The internal business perspective of the balanced scorecard focuses on using an organization's intellectual capital to adapt to or influence customer needs and expectations.

Accepted Answer

A) True 
 B)False

Question 15

In comparing financial and management accounting,which of the following more accurately describes management accounting information?

Accepted Answer

A) historical,precise,useful 
B) required,estimated,internal 
C) budgeted,informative,adaptable 
D) comparable,verifiable,monetary 
A) historical,precise,useful 
B) required,estimated,internal 
C) budgeted,informative,adaptable 
D) comparable,verifiable,monetary

Question 16

The branch of accounting that is most concerned with addressing the needs of the firm as a whole is ____________________ accounting

Accepted Answer

The answer of The branch of accounting that is most...

Question 17

Financial accounting is most concerned with meeting the needs of internal users.

Accepted Answer

A) True 
 B)False

Question 18

The branch of accounting that is most concerned with addressing the needs of specific departments of the firm is ____________________ accounting

Accepted Answer

The answer of The branch of accounting that is most...

Question 19

Financial accounting and cost accounting are both highly concerned with

Accepted Answer

A) preparing budgets. 
B) determining product cost. 
C) providing managers with information necessary for control purposes. 
D) determining performance standards. 
A) preparing budgets. 
B) determining product cost. 
C) providing managers with information necessary for control purposes. 
D) determining performance standards.

Question 20

The customer value perspective of the balanced scorecard addresses the things that an organization needs to do well to meet customer needs and expectations.

Accepted Answer

A) True 
 B)False

Management accounting

Broadly speaking,cost accounting can be defined as a(n)

Modern management accounting can be characterized by its

The Institute of Management Accountants' Code of Ethics

Financial accounting is most concerned with addressing the needs of the firm as a whole.

An organization's strategy is the guiding force for its mission.

The learning and growth perspective of the balanced scorecard focuses on using an organization's intellectual capital to adapt to or influence customer needs and expectations.

Which of the following U.S.legislation relates to bribes being offered to foreign officials?

The ___________________________________ restates an organization's strategy into clear and objective performance measures.

The value chain

The way in which authority and responsibility are distributed in an organization is ___________________________________.

Outcomes that have resulted from past actions are also referred to as ____________________ indicators.

Cost accounting is necessitated by

The internal business perspective of the balanced scorecard focuses on using an organization's intellectual capital to adapt to or influence customer needs and expectations.

In comparing financial and management accounting,which of the following more accurately describes management accounting information?

The branch of accounting that is most concerned with addressing the needs of the firm as a whole is ____________________ accounting

Financial accounting is most concerned with meeting the needs of internal users.

The branch of accounting that is most concerned with addressing the needs of specific departments of the firm is ____________________ accounting

Financial accounting and cost accounting are both highly concerned with

The customer value perspective of the balanced scorecard addresses the things that an organization needs to do well to meet customer needs and expectations.

Cost Terminology and Cost Behaviors

Predetermined Overhead Rates, flexible Budgets, and Absorptionvariable Costing

Activity-Based Management and Activity-Based Costing

Job Order Costing

Process Costing

Standard Costing and Variance Analysis

The Master Budget

Break-Even Point and Cost-Volume-Profit Analysis

Relevant Information for Decision Making

Allocation of Joint Costs and Accounting for By-Products

Introduction to Cost Management Systems

Responsibility Accounting, support Department Allocations, and Transfer Pricing

Performance Measurement, balanced Scorecards, and Performance Rewards

Capital Budgeting

Managing Costs and Uncertainty

Implementing Quality Concepts

Inventory and Production Management

Emerging Management Practices

Filters

Exam 1: Introduction to Cost Accounting

Management accounting

Broadly speaking,cost accounting can be defined as a(n)

Modern management accounting can be characterized by its

The Institute of Management Accountants' Code of Ethics

Financial accounting is most concerned with addressing the needs of the firm as a whole.

An organization's strategy is the guiding force for its mission.

The learning and growth perspective of the balanced scorecard focuses on using an organization's intellectual capital to adapt to or influence customer needs and expectations.

Which of the following U.S.legislation relates to bribes being offered to foreign officials?

The ___________________________________ restates an organization's strategy into clear and objective performance measures.

The value chain

The way in which authority and responsibility are distributed in an organization is ___________________________________.

Outcomes that have resulted from past actions are also referred to as ____________________ indicators.

Cost accounting is necessitated by

The internal business perspective of the balanced scorecard focuses on using an organization's intellectual capital to adapt to or influence customer needs and expectations.

In comparing financial and management accounting,which of the following more accurately describes management accounting information?

The branch of accounting that is most concerned with addressing the needs of the firm as a whole is ____________________ accounting

Financial accounting is most concerned with meeting the needs of internal users.

The branch of accounting that is most concerned with addressing the needs of specific departments of the firm is ____________________ accounting

Financial accounting and cost accounting are both highly concerned with

The customer value perspective of the balanced scorecard addresses the things that an organization needs to do well to meet customer needs and expectations.

Cost Terminology and Cost Behaviors

Predetermined Overhead Rates, flexible Budgets, and Absorptionvariable Costing

Activity-Based Management and Activity-Based Costing

Job Order Costing

Process Costing

Standard Costing and Variance Analysis

The Master Budget

Break-Even Point and Cost-Volume-Profit Analysis

Relevant Information for Decision Making

Allocation of Joint Costs and Accounting for By-Products

Introduction to Cost Management Systems

Responsibility Accounting, support Department Allocations, and Transfer Pricing

Performance Measurement, balanced Scorecards, and Performance Rewards

Capital Budgeting

Managing Costs and Uncertainty

Implementing Quality Concepts

Inventory and Production Management

Emerging Management Practices

Filters