Question 1

Which of the following costing activities is associated with the financial accounting system?

Accepted Answer

A) determining the cost of a department 
B) determining the cost of goods sold for financial statements 
C) preparing budgets 
D) determining the cost of a customer 
A) determining the cost of a department 
B) determining the cost of goods sold for financial statements 
C) preparing budgets 
D) determining the cost of a customer B

Question 2

The Treasurer of a company is responsible for all taxation activities, including dealing with the IRS.

Accepted Answer

A) True 
 B)False  False

Question 3

Which of the following manufacturing management approaches has allowed firms to increase quality, reduce inventories, eliminate waste, and reduce costs?

Accepted Answer

A) The operational manufacturing system 
B) Online analytic programs 
C) The decision-support system 
D) Lean manufacturing 
A) The operational manufacturing system 
B) Online analytic programs 
C) The decision-support system 
D) Lean manufacturing D

Question 4

Which of the following would be considered a line function?

Accepted Answer

A) production 
B) maintenance 
C) public relations 
D) administrative services 
A) production 
B) maintenance 
C) public relations 
D) administrative services

Question 5

Which of the following best describes sustainable development?

Accepted Answer

A) It is defined as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. 
B) It is defined as development that is designed to assign costs to individual products and services and other objects as specified by management. 
C) It is defined as development that is designed to provide accurate and timely feedback concerning the performance of managers and others relative to their planning and control of activities. 
D) It is defined as development that is primarily concerned with producing outputs for internal users using inputs and processes needed to satisfy management objectives. 
A) It is defined as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. 
B) It is defined as development that is designed to assign costs to individual products and services and other objects as specified by management. 
C) It is defined as development that is designed to provide accurate and timely feedback concerning the performance of managers and others relative to their planning and control of activities. 
D) It is defined as development that is primarily concerned with producing outputs for internal users using inputs and processes needed to satisfy management objectives.

Question 6

Which of the following job positions is a staff position?

Accepted Answer

A) controller 
B) production vice president 
C) production supervisor 
D) assembly foreman 
A) controller 
B) production vice president 
C) production supervisor 
D) assembly foreman

Question 7

Disclosing company information (when not legally obligated to do so) would be a violation of which part of the IMA Code of Conduct?

Accepted Answer

A) competence 
B) confidentiality 
C) independence 
D) credibility 
A) competence 
B) confidentiality 
C) independence 
D) credibility

Question 8

Which of the following is the officer responsible for money management and serves chiefly as the custodian of the organization's funds?

Accepted Answer

A) Certified Public Accountant 
B) controller 
C) Chartered Accountant 
D) treasurer 
A) Certified Public Accountant 
B) controller 
C) Chartered Accountant 
D) treasurer

Question 9

The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system.

Accepted Answer

A) True 
 B)False

Question 10

Persons in the United States who provide external auditing services are designated as

Accepted Answer

A) Certified Public Accountants. 
B) Certified Financial Accountants. 
C) Chartered Accountants. 
D) Certified Management Accountants. 
A) Certified Public Accountants. 
B) Certified Financial Accountants. 
C) Chartered Accountants. 
D) Certified Management Accountants.

Question 11

Manufacturing environment automation is associated with increases in

Accepted Answer

A) inventory. 
B) productive capacity. 
C) processing time. 
D) none of these. 
A) inventory. 
B) productive capacity. 
C) processing time. 
D) none of these.

Question 12

Software that has integrated system capability using real time data is

Accepted Answer

A) enterprise resource planning software. 
B) on-line analytic programs. 
C) computer-assisted engineering software. 
D) none of these. 
A) enterprise resource planning software. 
B) on-line analytic programs. 
C) computer-assisted engineering software. 
D) none of these.

Question 13

Accounting activities within an organization are usually under the overall supervision of the

Accepted Answer

A) Certified Public Accountant. 
B) controller. 
C) Chartered Accountant. 
D) treasurer. 
A) Certified Public Accountant. 
B) controller. 
C) Chartered Accountant. 
D) treasurer.

Question 14

Which of the following does NOT describe cost management system?

Accepted Answer

A) evaluation of segments or products within the firm 
B) emphasis on the future 
C) externally focused 
D) focus on effective use of resources 
A) evaluation of segments or products within the firm 
B) emphasis on the future 
C) externally focused 
D) focus on effective use of resources

Question 15

The Certified Internal Auditor must pass a comprehensive examination designed to ensure technical competence and have two years' work experience.

Accepted Answer

A) True 
 B)False

Question 16

Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.

Accepted Answer

A service industry company will be inter

Question 17

Engaging in or supporting an activity that would discredit the profession would relate to which part of the IMA Code of Conduct?

Accepted Answer

A) competence 
B) independence 
C) integrity 
D) credibility 
A) competence 
B) independence 
C) integrity 
D) credibility

Question 18

The focus of Lean Manufacturing is to eliminate waste, which is anything that does not add value to the end user (customer).

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is an advantage of analyzing big data sets using business analytics?

Accepted Answer

A) An increased current ratio 
B) A reduced arbitrage fund 
C) An improved quality 
D) A decreased basis risk 
A) An increased current ratio 
B) A reduced arbitrage fund 
C) An improved quality 
D) A decreased basis risk

Question 20

Which of the following advances in information technology includes external data sets and, at the same time, integrates the analysis with an organization's internal databases?

Accepted Answer

A) Decision-support systems 
B) Integrated cost management 
C) Business analytics 
D) Online inventory system 
A) Decision-support systems 
B) Integrated cost management 
C) Business analytics 
D) Online inventory system

Which of the following costing activities is associated with the financial accounting system?

The Treasurer of a company is responsible for all taxation activities, including dealing with the IRS.

Which of the following manufacturing management approaches has allowed firms to increase quality, reduce inventories, eliminate waste, and reduce costs?

Which of the following would be considered a line function?

Which of the following best describes sustainable development?

Which of the following job positions is a staff position?

Disclosing company information (when not legally obligated to do so) would be a violation of which part of the IMA Code of Conduct?

Which of the following is the officer responsible for money management and serves chiefly as the custodian of the organization's funds?

The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system.

Persons in the United States who provide external auditing services are designated as

Manufacturing environment automation is associated with increases in

Software that has integrated system capability using real time data is

Accounting activities within an organization are usually under the overall supervision of the

Which of the following does NOT describe cost management system?

The Certified Internal Auditor must pass a comprehensive examination designed to ensure technical competence and have two years' work experience.

Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.

Engaging in or supporting an activity that would discredit the profession would relate to which part of the IMA Code of Conduct?

The focus of Lean Manufacturing is to eliminate waste, which is anything that does not add value to the end user (customer).

Which of the following is an advantage of analyzing big data sets using business analytics?

Which of the following advances in information technology includes external data sets and, at the same time, integrates the analysis with an organization's internal databases?

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters

Exam 1: Introduction to Cost Management

Which of the following costing activities is associated with the financial accounting system?

The Treasurer of a company is responsible for all taxation activities, including dealing with the IRS.

Which of the following manufacturing management approaches has allowed firms to increase quality, reduce inventories, eliminate waste, and reduce costs?

Which of the following would be considered a line function?

Which of the following best describes sustainable development?

Which of the following job positions is a staff position?

Disclosing company information (when not legally obligated to do so) would be a violation of which part of the IMA Code of Conduct?

Which of the following is the officer responsible for money management and serves chiefly as the custodian of the organization's funds?

The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system.

Persons in the United States who provide external auditing services are designated as

Manufacturing environment automation is associated with increases in

Software that has integrated system capability using real time data is

Accounting activities within an organization are usually under the overall supervision of the

Which of the following does NOT describe cost management system?

The Certified Internal Auditor must pass a comprehensive examination designed to ensure technical competence and have two years' work experience.

Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.

Engaging in or supporting an activity that would discredit the profession would relate to which part of the IMA Code of Conduct?

The focus of Lean Manufacturing is to eliminate waste, which is anything that does not add value to the end user (customer).

Which of the following is an advantage of analyzing big data sets using business analytics?

Which of the following advances in information technology includes external data sets and, at the same time, integrates the analysis with an organization's internal databases?

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters