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

The upper limit on the production of goods and services if everything works perfectly is known as practical capacity.

Which of the following is not a function of the treasurer?

Line positions are indirectly involved in operational activities.

Data analytics are particularly important to the managerial accountant in what two areas?

Which of the following functions is best described as choosing among available alternatives?

Which of the following is not an element of competency?

The primary design of the CPA designation is to:

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

The process of managing the various activities in the value chain, along with the associated costs, is commonly known as:

Two things that all organizations have in common are a set of goals and information needed by managers.

Unused or excess capacity is a key component of contemporary management accounting. Required: Define the term "excess capacity" and explain how it would relate to a coffee shop.

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?

Nikki and Bart have been tasked by top management with assembling measures to include in their company's balanced scorecard.The two compiled more than 100 metrics during a brainstorming session.As they now begin to discuss the list and eliminate some, their question is: What is the ideal number of goals for each of the four balanced scorecard perspectives? Discuss.

Data science draws on what to transform large volumes of data into information?

Which of the following employees at Fresh Brew Co.would likely be considered as holding a staff position?

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

In most situations, managerial accounting reports solve decision problems.

A controller is normally involved with:

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.

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