Question 1

_________ is the persistent pursuit and elimination of waste which results in the decrease of lead time.

Accepted Answer

The answer of _________ is the persistent pursuit and elimination...

Question 2

Divulging company information when not legally obligated to do so violates the confidentiality part of the IMA Code of Conduct.

Accepted Answer

A) True 
 B)False

Question 3

Discuss the advances of information technology and how these advances might affect the university education supply chain?

Accepted Answer

There are three significant advances rel

Question 4

The Institute of Management accountants has established ethical standards for management accountants.

Accepted Answer

A) True 
 B)False

Question 5

Why has time become such an important factor in competition?

Accepted Answer

Reducing the time that it takes to act m

Question 6

JIT is a critical part of a more comprehensive approach referred to as:

Accepted Answer

A) supply chain management 
B) lean manufacturing 
C) just-in-time manufacturing 
D) computer-integrated manufacturing 
A) supply chain management 
B) lean manufacturing 
C) just-in-time manufacturing 
D) computer-integrated manufacturing

Question 7

In just-in-time (JIT) manufacturing, each operation produces only what is necessary for the succeeding operations.

Accepted Answer

A) True 
 B)False

Question 8

The planning process includes

Accepted Answer

A) setting objectives. 
B) identifying means of achieving the objectives. 
C) making decisions. 
D) all of these. 
A) setting objectives. 
B) identifying means of achieving the objectives. 
C) making decisions. 
D) all of these.

Question 9

The setting of objectives and the identification of methods to achieve those objectives is called

Accepted Answer

A) planning. 
B) controlling. 
C) performance evaluation. 
D) decision making. 
A) planning. 
B) controlling. 
C) performance evaluation. 
D) decision making.

Question 10

Which of the following job positions is a line function?

Accepted Answer

A) financial vice president 
B) controller 
C) production supervisor 
D) treasurer 
A) financial vice president 
B) controller 
C) production supervisor 
D) treasurer

Question 11

Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental organizational goals that further competitive advantage?

Accepted Answer

A) improved time-based performance 
B) improved quality of products and services 
C) maximizing shareholder value 
D) improved efficiency 
A) improved time-based performance 
B) improved quality of products and services 
C) maximizing shareholder value 
D) improved efficiency

Question 12

The IMA's program to recognize professional competence in the field of management accounting yields a designation as a _________ Accountant.

Accepted Answer

Certified

Question 13

When a management accountant ignores data in favor of unsupported opinion, this action would speak most directly to 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 14

Which of the following is NOT part of the financial accounting information system?

Accepted Answer

A) filing reports with the SEC 
B) reporting a large contingent liability to current and potential shareholders 
C) determining the future cash flows of a proposed flexible manufacturing system 
D) preparing GAAP financial statements 
A) filing reports with the SEC 
B) reporting a large contingent liability to current and potential shareholders 
C) determining the future cash flows of a proposed flexible manufacturing system 
D) preparing GAAP financial statements

Question 15

Contrast the role of the financial vice president, the controller, and the treasurer.

Accepted Answer

The financial vice president reports to

Question 16

In resolving an ethical conflict, it would be appropriate to take the matter to the press where there's no legal requirement.

Accepted Answer

A) True 
 B)False

Question 17

Companies with a strong _________ can benefit from strong customer and employee loyalty.

Accepted Answer

The answer of Companies with a strong _________ can benefit...

Question 18

Accounting reports that provide feedback by comparing planned (budgeted) data with actual data are called:

Accepted Answer

A) performance reports. 
B) favorable reports. 
C) auditing reports. 
D) improvement reports. 
A) performance reports. 
B) favorable reports. 
C) auditing reports. 
D) improvement reports.

Question 19

Developing a company strategy for responding to anticipated new markets is an example of

Accepted Answer

A) planning. 
B) control. 
C) performance evaluation. 
D) all of these. 
A) planning. 
B) control. 
C) performance evaluation. 
D) all of these.

Question 20

Which of the following activities is NOT associated with the cost management information system?

Accepted Answer

A) preparing a cost of quality report 
B) preparing a performance report that compares actual costs to budgeted costs 
C) determining the cost of a customer 
D) using future expected earnings to estimate the price of a share of common stock 
A) preparing a cost of quality report 
B) preparing a performance report that compares actual costs to budgeted costs 
C) determining the cost of a customer 
D) using future expected earnings to estimate the price of a share of common stock

_________ is the persistent pursuit and elimination of waste which results in the decrease of lead time.

Divulging company information when not legally obligated to do so violates the confidentiality part of the IMA Code of Conduct.

Discuss the advances of information technology and how these advances might affect the university education supply chain?

The Institute of Management accountants has established ethical standards for management accountants.

Why has time become such an important factor in competition?

JIT is a critical part of a more comprehensive approach referred to as:

In just-in-time (JIT) manufacturing, each operation produces only what is necessary for the succeeding operations.

The planning process includes

The setting of objectives and the identification of methods to achieve those objectives is called

Which of the following job positions is a line function?

Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental organizational goals that further competitive advantage?

The IMA's program to recognize professional competence in the field of management accounting yields a designation as a _________ Accountant.

When a management accountant ignores data in favor of unsupported opinion, this action would speak most directly to which part of the IMA Code of Conduct?

Which of the following is NOT part of the financial accounting information system?

Contrast the role of the financial vice president, the controller, and the treasurer.

In resolving an ethical conflict, it would be appropriate to take the matter to the press where there's no legal requirement.

Companies with a strong _________ can benefit from strong customer and employee loyalty.

Accounting reports that provide feedback by comparing planned (budgeted) data with actual data are called:

Developing a company strategy for responding to anticipated new markets is an example of

Which of the following activities is NOT associated with the cost management information system?

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

_________ is the persistent pursuit and elimination of waste which results in the decrease of lead time.

Divulging company information when not legally obligated to do so violates the confidentiality part of the IMA Code of Conduct.

Discuss the advances of information technology and how these advances might affect the university education supply chain?

The Institute of Management accountants has established ethical standards for management accountants.

Why has time become such an important factor in competition?

JIT is a critical part of a more comprehensive approach referred to as:

In just-in-time (JIT) manufacturing, each operation produces only what is necessary for the succeeding operations.

The planning process includes

The setting of objectives and the identification of methods to achieve those objectives is called

Which of the following job positions is a line function?

Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental organizational goals that further competitive advantage?

The IMA's program to recognize professional competence in the field of management accounting yields a designation as a _________ Accountant.

When a management accountant ignores data in favor of unsupported opinion, this action would speak most directly to which part of the IMA Code of Conduct?

Which of the following is NOT part of the financial accounting information system?

Contrast the role of the financial vice president, the controller, and the treasurer.

In resolving an ethical conflict, it would be appropriate to take the matter to the press where there's no legal requirement.

Companies with a strong _________ can benefit from strong customer and employee loyalty.

Accounting reports that provide feedback by comparing planned (budgeted) data with actual data are called:

Developing a company strategy for responding to anticipated new markets is an example of

Which of the following activities is NOT associated with the cost management information system?

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