Question 1

The treasurer typically is responsible for raising capital and safeguarding the organization's assets.

Accepted Answer

A) True 
 B)False  True

Question 2

Assume that a managerial accountant regularly communicates with business associates to avoid conﬂicts of interest and advises relevant parties of potential conﬂicts.In so doing, the accountant will have applied the ethical standard of:

Accepted Answer

A) objectivity. 
B) conﬁdentiality. 
C) integrity. 
D) credibility. 
E) uniﬁed behavior. 
A) objectivity. 
B) conﬁdentiality. 
C) integrity. 
D) credibility. 
E) uniﬁed behavior. C

Question 3

Which of the following can be linked to a wave of corporate scandals that took place in recent past?

Accepted Answer

A) Greedy corporate executives. 
B) Managers who made over-reaching business deals. 
C) Lack of oversight by companies' audit boards and boards of directors. 
D) Shoddy work by external auditors. 
E) All of these choices are correct. 
A) Greedy corporate executives. 
B) Managers who made over-reaching business deals. 
C) Lack of oversight by companies' audit boards and boards of directors. 
D) Shoddy work by external auditors. 
E) All of these choices are correct. E

Question 4

The largest managerial accounting professional association in the U.S.is the Chartered Institute of Management Accountants.

Accepted Answer

A) True 
 B)False

Question 5

Financial accounting focuses primarily on reporting:

Accepted Answer

A) to parties outside of an organization. 
B) to parties within an organization. 
C) to an organization's board of directors. 
D) to ﬁnancial institutions. 
E) for ﬁnancial institutions. 
A) to parties outside of an organization. 
B) to parties within an organization. 
C) to an organization's board of directors. 
D) to ﬁnancial institutions. 
E) for ﬁnancial institutions.

Question 6

The nature of managerial accounting reports is to focus on the enterprise in its entirety.

Accepted Answer

A) True 
 B)False

Question 7

All of the following are common reasons for forming cross-functional teams except:

Accepted Answer

A) to make decisions. 
B) to engage in planning exercises. 
C) to address operational problems from many perspectives. 
D) to pull together individuals from a variety of specialties. 
E) to minimize physical location requirements that a company occupies. 
A) to make decisions. 
B) to engage in planning exercises. 
C) to address operational problems from many perspectives. 
D) to pull together individuals from a variety of specialties. 
E) to minimize physical location requirements that a company occupies.

Question 8

Which of the following business models considers ﬁnancial, customer, internal operating, and other measures in the evaluation of performance?

Accepted Answer

A) Deterministic simulation. 
B) Balanced scorecard. 
C) Payoff matrix. 
D) Decision tree. 
E) Chart of operating performance (COP). 
A) Deterministic simulation. 
B) Balanced scorecard. 
C) Payoff matrix. 
D) Decision tree. 
E) Chart of operating performance (COP).

Question 9

Which of the following statements about managerial accountants is false?

Accepted Answer

A) Managerial accountants more and more are considered "business partners." 
B) Managerial accountants often are part of cross-functional teams. 
C) An increasing number of organizations are segregating managerial accountants in 
D) In a number of companies, managerial accountants make signiﬁcant business decisions 
E) The role of managerial accountants has changed considerably over the past decade. 
A) Managerial accountants more and more are considered "business partners." 
B) Managerial accountants often are part of cross-functional teams. 
C) An increasing number of organizations are segregating managerial accountants in 
D) In a number of companies, managerial accountants make signiﬁcant business decisions 
E) The role of managerial accountants has changed considerably over the past decade.

Question 10

Data science is often practiced by specialists, who use powerful software tools such as:

Accepted Answer

A) Tableau and RStudio. 
B) Nintendo and Chrome. 
C) Unix and Basic. 
D) QuickBooks and Microsoft Word. 
E) Microsoft Power Point and Quicken. 
A) Tableau and RStudio. 
B) Nintendo and Chrome. 
C) Unix and Basic. 
D) QuickBooks and Microsoft Word. 
E) Microsoft Power Point and Quicken.

Question 11

Cost management systems tend to focus on an organization's:

Accepted Answer

A) machines. 
B) employees. 
C) activities. 
D) customers. 
E) rules and regulations. 
A) machines. 
B) employees. 
C) activities. 
D) customers. 
E) rules and regulations.

Question 12

All ﬁnancial professionals, including managerial accountants, have an obligation to themselves, their colleagues, and their organizations to adhere to high standards of ethical conduct.

Accepted Answer

A) True 
 B)False

Question 13

The value chain of a manufacturer would tend to include activities related to:

Accepted Answer

A) manufacturing. 
B) research and development. 
C) product design. 
D) marketing. 
E) all of the answers are correct. 
A) manufacturing. 
B) research and development. 
C) product design. 
D) marketing. 
E) all of the answers are correct.

Question 14

The process of encouraging and authorizing workers to take appropriate initiatives to improve the overall ﬁrm is commonly known as:

Accepted Answer

A) planning and control. 
B) employee empowerment. 
C) personnel aggressiveness. 
D) decision making. 
E) problem recognition and solution. 
A) planning and control. 
B) employee empowerment. 
C) personnel aggressiveness. 
D) decision making. 
E) problem recognition and solution.

Question 15

Award: 1.00 point

Accepted Answer

Match the following designation with the

Question 16

Employee empowerment involves encouraging and authorizing workers to take initiatives to:

Accepted Answer

A) improve operations. 
B) reduce costs. 
C) improve product quality. 
D) improve customer service. 
E) all of the answers are correct. 
A) improve operations. 
B) reduce costs. 
C) improve product quality. 
D) improve customer service. 
E) all of the answers are correct.

Question 17

A restaurant's value chain includes:

Accepted Answer

A) supplier development. 
B) upstream contributors. 
C) downstream contributors. 
D) management of inventory. 
E) All of these are included in the value chain. 
A) supplier development. 
B) upstream contributors. 
C) downstream contributors. 
D) management of inventory. 
E) All of these are included in the value chain.

Question 18

Which of the following acts strives to improve corporate governance and the quality of corporate accounting/reporting?

Accepted Answer

A) Robinson-Patman. 
B) Taft-Hartley. 
C) Sarbanes-Oxley. 
D) Bush-Cheney. 
E) Arthur-Andersen. 
A) Robinson-Patman. 
B) Taft-Hartley. 
C) Sarbanes-Oxley. 
D) Bush-Cheney. 
E) Arthur-Andersen.

Question 19

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

Accepted Answer

A) Townhouse Corporation's vice-president for government relations. 
B) The controller of Margin Motors. 
C) A secretary employed by Signal Communications. 
D) The manager of food and beverage services at a theme park. 
E) None of the answers is correct. 
A) Townhouse Corporation's vice-president for government relations. 
B) The controller of Margin Motors. 
C) A secretary employed by Signal Communications. 
D) The manager of food and beverage services at a theme park. 
E) None of the answers is correct.

Question 20

Which of the following would not be part of a value chain for a fast food restaurant?

Accepted Answer

A) Buying produce. 
B) Mopping the ﬂoor. 
C) Reﬁlling the napkin dispensers. 
D) Hiring new cooks. 
E) All of the choices are a part of the value chain. 
A) Buying produce. 
B) Mopping the ﬂoor. 
C) Reﬁlling the napkin dispensers. 
D) Hiring new cooks. 
E) All of the choices are a part of the value chain.

The treasurer typically is responsible for raising capital and safeguarding the organization's assets.

Assume that a managerial accountant regularly communicates with business associates to avoid conﬂicts of interest and advises relevant parties of potential conﬂicts.In so doing, the accountant will have applied the ethical standard of:

Which of the following can be linked to a wave of corporate scandals that took place in recent past?

The largest managerial accounting professional association in the U.S.is the Chartered Institute of Management Accountants.

Financial accounting focuses primarily on reporting:

The nature of managerial accounting reports is to focus on the enterprise in its entirety.

All of the following are common reasons for forming cross-functional teams except:

Which of the following business models considers ﬁnancial, customer, internal operating, and other measures in the evaluation of performance?

Which of the following statements about managerial accountants is false?

Data science is often practiced by specialists, who use powerful software tools such as:

Cost management systems tend to focus on an organization's:

All ﬁnancial professionals, including managerial accountants, have an obligation to themselves, their colleagues, and their organizations to adhere to high standards of ethical conduct.

The value chain of a manufacturer would tend to include activities related to:

The process of encouraging and authorizing workers to take appropriate initiatives to improve the overall ﬁrm is commonly known as:

Award: 1.00 point

Employee empowerment involves encouraging and authorizing workers to take initiatives to:

A restaurant's value chain includes:

Which of the following acts strives to improve corporate governance and the quality of corporate accounting/reporting?

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

Which of the following would not be part of a value chain for a fast food restaurant?

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

Inventory Management and Economic Order Quantity (EOQ) Analysis

Filters

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

The treasurer typically is responsible for raising capital and safeguarding the organization's assets.

Assume that a managerial accountant regularly communicates with business associates to avoid conﬂicts of interest and advises relevant parties of potential conﬂicts.In so doing, the accountant will have applied the ethical standard of:

Which of the following can be linked to a wave of corporate scandals that took place in recent past?

The largest managerial accounting professional association in the U.S.is the Chartered Institute of Management Accountants.

Financial accounting focuses primarily on reporting:

The nature of managerial accounting reports is to focus on the enterprise in its entirety.

All of the following are common reasons for forming cross-functional teams except:

Which of the following business models considers ﬁnancial, customer, internal operating, and other measures in the evaluation of performance?

Which of the following statements about managerial accountants is false?

Data science is often practiced by specialists, who use powerful software tools such as:

Cost management systems tend to focus on an organization's:

All ﬁnancial professionals, including managerial accountants, have an obligation to themselves, their colleagues, and their organizations to adhere to high standards of ethical conduct.

The value chain of a manufacturer would tend to include activities related to:

The process of encouraging and authorizing workers to take appropriate initiatives to improve the overall ﬁrm is commonly known as:

Award: 1.00 point

Employee empowerment involves encouraging and authorizing workers to take initiatives to:

A restaurant's value chain includes:

Which of the following acts strives to improve corporate governance and the quality of corporate accounting/reporting?

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

Which of the following would not be part of a value chain for a fast food restaurant?

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

Inventory Management and Economic Order Quantity (EOQ) Analysis

Filters