Question 1

Financial accounting is primarily concerned with providing financial reports to all of the following EXCEPT

Accepted Answer

A)  creditors such as banks and other financial institutions. 
B)  creditors such as suppliers. 
C)  shareholders of the company. 
D)  management of the firm. 
A)  creditors such as banks and other financial institutions. 
B)  creditors such as suppliers. 
C)  shareholders of the company. 
D)  management of the firm. D

Question 2

What is customer orientation? Why is it important in a global environment? What role does cost management play in serving customers?

Accepted Answer

Organisations are concerned with the importance and value that customers have for their processes, activities, products, and services.Firms want to deliver value to customers in order to keep them and to attract new customers in an increasingly competitive global environment.Managing activities and costs is a critical component of managing the value chain.

Question 3

Management accounting is concerned with which kind of decision?

Accepted Answer

A)  product costing and pricing 
B)  continuous operational improvement 
C)  financial control 
D)  all of the above 
A)  product costing and pricing 
B)  continuous operational improvement 
C)  financial control 
D)  all of the above D

Question 4

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 5

Accounting

Accepted Answer

A)  always has an external orientation. 
B)  always has an internal orientation. 
C)  information assists in planning and controlling. 
D)  terms serve as a model of the organisation. 
A)  always has an external orientation. 
B)  always has an internal orientation. 
C)  information assists in planning and controlling. 
D)  terms serve as a model of the organisation.

Question 6

Breakthroughs in technology this century have given rise to which one of the following effects?

Accepted Answer

A)  Direct materials have GREATLY decreased as a percentage of total manufacturing costs. 
B)  Manufacturing overhead has only SLIGHTLY decreased as a percentage of total manufacturing costs. 
C)  Direct labour has GREATLY decreased as a percentage of total manufacturing costs. 
D)  Manufacturing overhead has GREATLY decreased as a percentage of total manufacturing costs. 
A)  Direct materials have GREATLY decreased as a percentage of total manufacturing costs. 
B)  Manufacturing overhead has only SLIGHTLY decreased as a percentage of total manufacturing costs. 
C)  Direct labour has GREATLY decreased as a percentage of total manufacturing costs. 
D)  Manufacturing overhead has GREATLY decreased as a percentage of total manufacturing costs.

Question 7

In resolving an ethical conflict, which of the following would never be appropriate?

Accepted Answer

A)  discussing the matter with the chief executive officer 
B)  discussing the matter with an external member of the board of directors 
C)  taking the matter to the press where there is no legal requirement 
D)  resigning from the position because of a conflict 
A)  discussing the matter with the chief executive officer 
B)  discussing the matter with an external member of the board of directors 
C)  taking the matter to the press where there is no legal requirement 
D)  resigning from the position because of a conflict

Question 8

The monitoring of a plan's implementation is called

Accepted Answer

A)  planning. 
B)  controlling. 
C)  decision making. 
D)  budgeting. 
A)  planning. 
B)  controlling. 
C)  decision making. 
D)  budgeting.

Question 9

Which of the following activities is NOT significant to the advancement of information technology?

Accepted Answer

A)  enterprise resource planning software 
B)  emergence of electronic commerce 
C)  theory of constraints 
D)  decision support systems 
A)  enterprise resource planning software 
B)  emergence of electronic commerce 
C)  theory of constraints 
D)  decision support systems

Question 10

The standards of ethical conduct for management accountants include

Accepted Answer

A)  competence and performance. 
B)  integrity and respect for others. 
C)  confidentiality, confidence, integrity, and observance. 
D)  competence, confidentiality, integrity, and objectivity. 
A)  competence and performance. 
B)  integrity and respect for others. 
C)  confidentiality, confidence, integrity, and observance. 
D)  competence, confidentiality, integrity, and objectivity.

Question 11

The primary objective of management accounting is

Accepted Answer

A)  to provide shareholders and potential investors with useful information for decision making. 
B)  to provide banks and other creditors with information useful in making credit decisions. 
C)  to provide management with information useful for planning and control of operations. 
D)  to provide the relevant taxation authorities with information about taxable income. 
A)  to provide shareholders and potential investors with useful information for decision making. 
B)  to provide banks and other creditors with information useful in making credit decisions. 
C)  to provide management with information useful for planning and control of operations. 
D)  to provide the relevant taxation authorities with information about taxable income.

Question 12

The overall objective of accounting information systems is to

Accepted Answer

A)  provide information to users. 
B)  manage the organisation. 
C)  prepare financial reports. 
D)  report to the government. 
A)  provide information to users. 
B)  manage the organisation. 
C)  prepare financial reports. 
D)  report to the government.

Question 13

Relationships among activities that are performed within a firm's portion of the industrial value chain are

Accepted Answer

A)  internal linkages 
B)  external linkages 
C)  customer linkages 
D)  none of the above 
A)  internal linkages 
B)  external linkages 
C)  customer linkages 
D)  none of the above

Question 14

Identify and discuss the emerging themes that are affecting the way cost accounting is practiced.

Accepted Answer

Seven emerging themes affecting cost ele

Question 15

The _____ is an accounting information subsystem that is primarily concerned with producing outputs for external users.

Accepted Answer

A)  cost management information system 
B)  computer system 
C)  internal accounting system 
D)  financial accounting information system 
A)  cost management information system 
B)  computer system 
C)  internal accounting system 
D)  financial accounting information system

Question 16

Software that has integrated system capability using real time data is

Accepted Answer

A)  enterprise resource planning software. 
B)  on-line analytic programmes. 
C)  computer-assisted engineering software. 
D)  none of the above. 
A)  enterprise resource planning software. 
B)  on-line analytic programmes. 
C)  computer-assisted engineering software. 
D)  none of the above.

Question 17

Performance reports are accounting reports that compare

Accepted Answer

A)  planned data with actual data. 
B)  audited data with actual data. 
C)  managers' bonuses with performance ratings by supervisors. 
D)  actual data with industry standards. 
A)  planned data with actual data. 
B)  audited data with actual data. 
C)  managers' bonuses with performance ratings by supervisors. 
D)  actual data with industry standards.

Question 18

_____ is devoted to providing information for external users.

Accepted Answer

A)  Management accounting 
B)  Financial accounting 
C)  Internal accounting 
D)  Cost accounting 
A)  Management accounting 
B)  Financial accounting 
C)  Internal accounting 
D)  Cost accounting

Question 19

Factors that have led to a global market for manufacturing and service firms are

Accepted Answer

A)  improved transportation and communications systems. 
B)  improved telemarketing and communications. 
C)  improved distribution and transportation systems. 
D)  None of these factors have contributed. 
A)  improved transportation and communications systems. 
B)  improved telemarketing and communications. 
C)  improved distribution and transportation systems. 
D)  None of these factors have contributed.

Question 20

Why has time become such an important factor in competition?

Accepted Answer

Reducing the time that it takes to act m

Financial accounting is primarily concerned with providing financial reports to all of the following EXCEPT

What is customer orientation? Why is it important in a global environment? What role does cost management play in serving customers?

Management accounting is concerned with which kind of decision?

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

Accounting

Breakthroughs in technology this century have given rise to which one of the following effects?

In resolving an ethical conflict, which of the following would never be appropriate?

The monitoring of a plan's implementation is called

Which of the following activities is NOT significant to the advancement of information technology?

The standards of ethical conduct for management accountants include

The primary objective of management accounting is

The overall objective of accounting information systems is to

Relationships among activities that are performed within a firm's portion of the industrial value chain are

Identify and discuss the emerging themes that are affecting the way cost accounting is practiced.

The _____ is an accounting information subsystem that is primarily concerned with producing outputs for external users.

Software that has integrated system capability using real time data is

Performance reports are accounting reports that compare

_____ is devoted to providing information for external users.

Factors that have led to a global market for manufacturing and service firms are

Why has time become such an important factor in competition?

Introduction to Business

Responsible Business

Global Business

Types of Business Ownership

Small Business, Entrepreneurship, and Franchises

Leadership and Managing a Business

Flexibility Within the Organisation

Products and Services

Recruitment and Retaining the Best Employees

Employee Motivation and Team Building

The Marketing Concept

Aproduct Development and Pricing Strategies

Marketing Channels

Marketing Communications

Social Media and E-Business

Money and the Banking System

Financial Management

Personal Finances and Investments

Filters

Exam 16: Introduction to Management Accounting

Financial accounting is primarily concerned with providing financial reports to all of the following EXCEPT

What is customer orientation? Why is it important in a global environment? What role does cost management play in serving customers?

Management accounting is concerned with which kind of decision?

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

Accounting

Breakthroughs in technology this century have given rise to which one of the following effects?

In resolving an ethical conflict, which of the following would never be appropriate?

The monitoring of a plan's implementation is called

Which of the following activities is NOT significant to the advancement of information technology?

The standards of ethical conduct for management accountants include

The primary objective of management accounting is

The overall objective of accounting information systems is to

Relationships among activities that are performed within a firm's portion of the industrial value chain are

Identify and discuss the emerging themes that are affecting the way cost accounting is practiced.

The _____ is an accounting information subsystem that is primarily concerned with producing outputs for external users.

Software that has integrated system capability using real time data is

Performance reports are accounting reports that compare

_____ is devoted to providing information for external users.

Factors that have led to a global market for manufacturing and service firms are

Why has time become such an important factor in competition?

Introduction to Business

Responsible Business

Global Business

Types of Business Ownership

Small Business, Entrepreneurship, and Franchises

Leadership and Managing a Business

Flexibility Within the Organisation

Products and Services

Recruitment and Retaining the Best Employees

Employee Motivation and Team Building

The Marketing Concept

Aproduct Development and Pricing Strategies

Marketing Channels

Marketing Communications

Social Media and E-Business

Money and the Banking System

Financial Management

Personal Finances and Investments

Filters