Question 1

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

Accepted Answer

A) True 
 B)False  False

Question 2

The Foreign Corrupt Practices Act is directed at

Accepted Answer

A)  U.S. corporations operating overseas. 
B)  foreign businesses operating in the U.S. 
C)  all businesses dealing with U.S. consumers. 
D)  all U. S. businesses with operations in foreign countries. 
A)  U.S. corporations operating overseas. 
B)  foreign businesses operating in the U.S. 
C)  all businesses dealing with U.S. consumers. 
D)  all U. S. businesses with operations in foreign countries. A

Question 3

The financial perspective of the balanced scorecard addresses stakeholder concerns about profitability and organizational growth.

Accepted Answer

A) True 
 B)False  True

Question 4

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 5

Cost accounting is directed toward the needs of

Accepted Answer

A)  regulatory agencies. 
B)  external users. 
C)  internal users. 
D)  stockholders. 
A)  regulatory agencies. 
B)  external users. 
C)  internal users. 
D)  stockholders.

Question 6

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.

Question 7

Line managers are directly responsible for achieving organizational goals.

Accepted Answer

A) True 
 B)False

Question 8

Which ethical standard has been violated if an accountant fails to prepare financial statements according to industry standards?

Accepted Answer

A)  Competence 
B)  Confidentiality 
C)  Integrity 
D)  Credibility 
A)  Competence 
B)  Confidentiality 
C)  Integrity 
D)  Credibility

Question 9

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

Accepted Answer

organizati

Question 10

The balanced scorecard perspective that addresses how well the organization is meeting specific customer-based criteria is the ______________________________ perspective.

Accepted Answer

The answer of The balanced scorecard perspective that addresses how...

Question 11

Which of the following statements istrue?

Accepted Answer

A)  Management accounting is a subset of cost accounting. 
B)  Cost accounting is a subset of both management and financial accounting. 
C)  Management accounting is a subset of both cost and financial accounting. 
D)  Financial accounting is a subset of cost accounting. 
A)  Management accounting is a subset of cost accounting. 
B)  Cost accounting is a subset of both management and financial accounting. 
C)  Management accounting is a subset of both cost and financial accounting. 
D)  Financial accounting is a subset of cost accounting.

Question 12

The world has essentially become smaller because of

Accepted Answer

A)  improved technology. 
B)  trade agreements. 
C)  better communications systems. 
D)  all of the above. 
A)  improved technology. 
B)  trade agreements. 
C)  better communications systems. 
D)  all of the above.

Question 13

Return on investment was used in the 1900's to evaluate business operations.

Accepted Answer

A) True 
 B)False

Question 14

The internal business perspective of the balanced scorecard addresses how well the organization is doing with regard to important customer criteria.

Accepted Answer

A) True 
 B)False

Question 15

The learning and growth 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

Question 16

The balanced scorecard perspective that focuses on using a firm's intellectual capital to adapt to customer needs through product or service innovations is the:

Accepted Answer

A)  learning and growth perspective 
B)  internal business perspective 
C)  customer value perspective 
D)  financial perspective 
A)  learning and growth perspective 
B)  internal business perspective 
C)  customer value perspective 
D)  financial perspective

Question 17

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

Question 18

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.

Question 19

Which of the following statements about management or financial accounting is false?

Accepted Answer

A)  Financial accounting must follow GAAP. 
B)  Management accounting is not subject to regulatory reporting standards. 
C)  Both management and financial accounting are subject to mandatory recordkeeping requirements. 
D)  Management accounting should be flexible. 
A)  Financial accounting must follow GAAP. 
B)  Management accounting is not subject to regulatory reporting standards. 
C)  Both management and financial accounting are subject to mandatory recordkeeping requirements. 
D)  Management accounting should be flexible.

Question 20

Data that reflects future financial and non-financial outcomes is referred to as ____________________ indicators.

Accepted Answer

The answer of Data that reflects future financial and non-financial...

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

The Foreign Corrupt Practices Act is directed at

The financial perspective of the balanced scorecard addresses stakeholder concerns about profitability and organizational growth.

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.

Cost accounting is directed toward the needs of

Modern management accounting can be characterized by its

Line managers are directly responsible for achieving organizational goals.

Which ethical standard has been violated if an accountant fails to prepare financial statements according to industry standards?

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

The balanced scorecard perspective that addresses how well the organization is meeting specific customer-based criteria is the ______________________________ perspective.

Which of the following statements istrue?

The world has essentially become smaller because of

Return on investment was used in the 1900's to evaluate business operations.

The internal business perspective of the balanced scorecard addresses how well the organization is doing with regard to important customer criteria.

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

The balanced scorecard perspective that focuses on using a firm's intellectual capital to adapt to customer needs through product or service innovations is the:

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

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

Which of the following statements about management or financial accounting is false?

Data that reflects future financial and non-financial outcomes is referred to as ____________________ indicators.

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

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

The Foreign Corrupt Practices Act is directed at

The financial perspective of the balanced scorecard addresses stakeholder concerns about profitability and organizational growth.

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.

Cost accounting is directed toward the needs of

Modern management accounting can be characterized by its

Line managers are directly responsible for achieving organizational goals.

Which ethical standard has been violated if an accountant fails to prepare financial statements according to industry standards?

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

The balanced scorecard perspective that addresses how well the organization is meeting specific customer-based criteria is the ______________________________ perspective.

Which of the following statements istrue?

The world has essentially become smaller because of

Return on investment was used in the 1900's to evaluate business operations.

The internal business perspective of the balanced scorecard addresses how well the organization is doing with regard to important customer criteria.

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

The balanced scorecard perspective that focuses on using a firm's intellectual capital to adapt to customer needs through product or service innovations is the:

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

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

Which of the following statements about management or financial accounting is false?

Data that reflects future financial and non-financial outcomes is referred to as ____________________ indicators.

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