Exam 1: The Changing Role of Managerial Accounting in a Dynamic Business Environment

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Magnum Overnight operates an overnight package delivery service that competes with Federal Express and United Parcel Service (UPS). Top management is considering the use of a balanced scorecard to evaluate operations. A. What is a balanced scorecard and other than customer-satisfaction measures, what are its typical key components? B. List four customer-satisfaction measures that Magnum might use to evaluate performance.

(Essay)

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Question 41

The primary design of the CPA designation is to:

(Multiple Choice)

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Question 42

The role of managerial accounting in organizations is the same as it has been over many years.

(True/False)

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Question 43

Chaos in corporate governance and accounting after the Enron scandal spawned Congressional legislation that resulted in the creation of:

(Multiple Choice)

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Question 44

Which of the following involves the coordination of daily business functions within an organization?

(Multiple Choice)

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Question 45

Controlling involves the coordination of daily business functions within an organization.

(True/False)

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Question 46

Decision making requires managers to choose among the available alternatives.

(True/False)

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Question 47

A controller is normally involved with preparing financial statements.

(True/False)

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Question 48

All of the following entities would have a need for managerial accounting information except:

(Multiple Choice)

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Question 49

Which of the following employees at Clear Flights would not be considered as holding a line position?

(Multiple Choice)

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Question 50

Managerial accounting:

(Multiple Choice)

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Question 51

Which of the following employees would be considered as holding a line position?

(Multiple Choice)

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Question 52

Which of the following typically does not relate to the role of a controller?

(Multiple Choice)

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Question 53

The balanced scorecard is an important managerial accounting tool for short-run competitiveness.

(True/False)

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Question 54

Which of the following statements about the ethical climate of business is false?

(Multiple Choice)

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Question 55

Given the following information, what is the cost of unused capacity? Cost of material supplied is $8,600; Cost of material used is $8,000; Cost of material used per shelf is $8; Cost of material supplied per shelf is $8.60.

(Multiple Choice)

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Question 56

A restaurant's value chain includes:

(Multiple Choice)

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Question 57

The value chain is a key component of contemporary management accounting. Required: Define the term "value chain" and explain how it would relate to an airline.

(Essay)

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Question 58

In pursuing its goals, an organization does all of the following except:

(Multiple Choice)

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Question 59

The role of managerial accounting information in assisting management is a(n):

(Multiple Choice)

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Question 60

Showing 41 - 60 of 85

The primary design of the CPA designation is to:

The role of managerial accounting in organizations is the same as it has been over many years.

Chaos in corporate governance and accounting after the Enron scandal spawned Congressional legislation that resulted in the creation of:

Which of the following involves the coordination of daily business functions within an organization?

Controlling involves the coordination of daily business functions within an organization.

Decision making requires managers to choose among the available alternatives.

A controller is normally involved with preparing financial statements.

All of the following entities would have a need for managerial accounting information except:

Which of the following employees at Clear Flights would not be considered as holding a line position?

Managerial accounting:

Which of the following employees would be considered as holding a line position?

Which of the following typically does not relate to the role of a controller?

The balanced scorecard is an important managerial accounting tool for short-run competitiveness.

Which of the following statements about the ethical climate of business is false?

Given the following information, what is the cost of unused capacity? Cost of material supplied is $8,600; Cost of material used is $8,000; Cost of material used per shelf is $8; Cost of material supplied per shelf is $8.60.

A restaurant's value chain includes:

The value chain is a key component of contemporary management accounting. Required: Define the term "value chain" and explain how it would relate to an airline.

In pursuing its goals, an organization does all of the following except:

The role of managerial accounting information in assisting management is a(n):

Basic Cost Management Concepts

Product Costing and Cost Accumulation in a Batch Production Environment

Process Costing and Hybrid Product-Costing Systems

Activity-Based Costing and Management

Activity Analysis, Cost Behavior, and Cost Estimation

Cost-Volume-Profit Analysis

Variable Costing and the Costs of Quality and Sustainability

Financial Planning and Analysis: the Master Budget

Standard Costing and Analysis of Direct Costs

Flexible Budgeting and Analysis of Overhead Costs

Responsibility Accounting, Operational Performance Measures, and the Balanced Scorecard

Investment Centers and Transfer Pricing

Decision Making: Relevant Costs and Benefits

Target Costing and Cost Analysis for Pricing Decisions

Capital Expenditure Decisions

Allocation of Support Activity Costs and Joint Costs

The Sarbanes-Oxley Act, Internal Controls, and Management Accounting

Compound Interest and the Concept of Present Value

Inventory Management

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