Question 1

Which of the following is not an objective of managerial accounting?

Accepted Answer

A)  Providing information for decision making and planning. 
B)  Assisting in directing and controlling operations. 
C)  Maximizing profits and minimizing costs. 
D)  Measuring the performance of managers and subunits. 
E)  Motivating managers toward the organization's goals. 
A)  Providing information for decision making and planning. 
B)  Assisting in directing and controlling operations. 
C)  Maximizing profits and minimizing costs. 
D)  Measuring the performance of managers and subunits. 
E)  Motivating managers toward the organization's goals.

Question 2

Managerial accounting activity comprises a set of tools, systems and perspectives that add value to an organization by supporting five major objectives. Which one of these is not a supporting objective?

Accepted Answer

A)  Provide information for decision making and planning. 
B)  Assist managers in directing and controlling operational activities. 
C)  Motivate managers and other employees toward the organization's goals. 
D)  Assess an organization's competitive position and long-term managerial efforts . 
E)  Focus on activities that occur at the top level of the organization. 
A)  Provide information for decision making and planning. 
B)  Assist managers in directing and controlling operational activities. 
C)  Motivate managers and other employees toward the organization's goals. 
D)  Assess an organization's competitive position and long-term managerial efforts . 
E)  Focus on activities that occur at the top level of the organization.

Question 3

Managers directly involved in the provision of goods and services are ____________.

Accepted Answer

A)  staff positions. 
B)  line positions. 
C)  general counsel positions. 
D)  human resource positions. 
E)  None of these is correct. 
A)  staff positions. 
B)  line positions. 
C)  general counsel positions. 
D)  human resource positions. 
E)  None of these is correct.

Question 4

A controller is normally involved with:

Accepted Answer

A)  preparing financial statements. 
B)  managing investments. 
C)  raising capital. 
D)  safeguarding assets. 
E)  managing the firm's credit policy. 
A)  preparing financial statements. 
B)  managing investments. 
C)  raising capital. 
D)  safeguarding assets. 
E)  managing the firm's credit policy.

Question 5

Which of the following managerial functions involves a detailed financial and operational description of anticipated operations?

Accepted Answer

A)  Decision making. 
B)  Planning. 
C)  Directing operational activities. 
D)  Controlling. 
E)  Measuring. 
A)  Decision making. 
B)  Planning. 
C)  Directing operational activities. 
D)  Controlling. 
E)  Measuring.

Which of the following is not an objective of managerial accounting?

Managerial accounting activity comprises a set of tools, systems and perspectives that add value to an organization by supporting five major objectives. Which one of these is not a supporting objective?

Managers directly involved in the provision of goods and services are ____________.

A controller is normally involved with:

Which of the following managerial functions involves a detailed financial and operational description of anticipated operations?

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

Filters

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

Which of the following is not an objective of managerial accounting?

Managerial accounting activity comprises a set of tools, systems and perspectives that add value to an organization by supporting five major objectives. Which one of these is not a supporting objective?

Managers directly involved in the provision of goods and services are ____________.

A controller is normally involved with:

Which of the following managerial functions involves a detailed financial and operational description of anticipated operations?

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

Filters