Question 1

Give some examples of reporting feedback that will assist in continuous improvement of a dry cleaning company.

Accepted Answer

A dry cleaners will be interested in mon

Question 2

In a performance report,

Accepted Answer

A)  differences between actual costs and allowed costs are always undesirable. 
B)  expenditures of less than allowed amounts are undesirable. 
C)  expenditures of more than allowed amounts are not permitted to occur. 
D)  expenditures of less than allowed amounts are desirable. 
A)  differences between actual costs and allowed costs are always undesirable. 
B)  expenditures of less than allowed amounts are undesirable. 
C)  expenditures of more than allowed amounts are not permitted to occur. 
D)  expenditures of less than allowed amounts are desirable.

Question 3

Which of the following costs would be included in value-chain product costs?

Accepted Answer

A)  research and development 
B)  Production 
C)  customer service 
D)  all of the above 
A)  research and development 
B)  Production 
C)  customer service 
D)  all of the above

Question 4

Determining the bid your company should submit on a construction contract is an example of

Accepted Answer

A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and b 
A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and b

Question 5

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

Accepted Answer

Companies can establish a culture and at

Question 6

Automation of the manufacturing environment is associated with increases in

Accepted Answer

A)  inventory. 
B)  capacity. 
C)  processing time. 
D)  none of these. 
A)  inventory. 
B)  capacity. 
C)  processing time. 
D)  none of these.

Question 7

Which of the following statements most accurately describes an effect of employee empowerment?

Accepted Answer

A)  Employee empowerment reduces the cost of implementing decisions. 
B)  Employee empowerment decreases the speed in which decisions are made. 
C)  Employee empowerment leads to an increased number of corporate staff positions 
D)  Employee empowerment places greater emphasis on decisions made by upper management. 
A)  Employee empowerment reduces the cost of implementing decisions. 
B)  Employee empowerment decreases the speed in which decisions are made. 
C)  Employee empowerment leads to an increased number of corporate staff positions 
D)  Employee empowerment places greater emphasis on decisions made by upper management.

Question 8

Which one of the following statements about ethical behaviour is true?

Accepted Answer

A)  Ethical behaviour is not guided by well-defined rules and is often subjective. 
B)  Ethical behaviour is best described as doing actions that are permitted by law. 
C)  Ethical behaviour always involves choosing between actions that are clearly right or wrong. 
D)  Ethical behaviour is best guided by a policy of placing corporate performance above individual ends. 
A)  Ethical behaviour is not guided by well-defined rules and is often subjective. 
B)  Ethical behaviour is best described as doing actions that are permitted by law. 
C)  Ethical behaviour always involves choosing between actions that are clearly right or wrong. 
D)  Ethical behaviour is best guided by a policy of placing corporate performance above individual ends.

Question 9

Discuss how the goal of profit maximisation is affected by ethical considerations.What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

Accepted Answer

The objective of profit maximisation sho

Question 10

How has the nature of accounting systems shifted in response to technology?

Accepted Answer

There is a shift from external report-ba

Question 11

Total quality management emphasises

Accepted Answer

A)  zero defects. 
B)  continual improvement. 
C)  elimination of waste. 
D)  all of the above. 
A)  zero defects. 
B)  continual improvement. 
C)  elimination of waste. 
D)  all of the above.

Question 12

Briefly discuss the three dimensions on which competition takes place.

Accepted Answer

Competition takes place on the dimension

Question 13

Inspecting units produced to determine if they meet specifications is an example of

Accepted Answer

A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and c 
A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and c

Question 14

Management accounting and financial accounting differ in that management accounting information is prepared

Accepted Answer

A)  following prescribed rules. 
B)  using whatever methods the company finds beneficial. 
C)  for shareholders. 
D)  to summarise the whole company with little detail. 
A)  following prescribed rules. 
B)  using whatever methods the company finds beneficial. 
C)  for shareholders. 
D)  to summarise the whole company with little detail.

Question 15

Management accounting reports are prepared

Accepted Answer

A)  to meet the needs of decision makers within the firm. 
B)  whenever shareholders request them. 
C)  according to guidelines prepared by the shares and Financial Services Authority. 
D)  according to financial accounting standards. 
A)  to meet the needs of decision makers within the firm. 
B)  whenever shareholders request them. 
C)  according to guidelines prepared by the shares and Financial Services Authority. 
D)  according to financial accounting standards.

Question 16

Setting the company's profit targets for the upcoming year is an example of the management function of

Accepted Answer

A)  planning. 
B)  control. 
C)  variance analysis. 
D)  internal auditing. 
A)  planning. 
B)  control. 
C)  variance analysis. 
D)  internal auditing.

Question 17

Which of the following does NOT describe management accounting?

Accepted Answer

A)  evaluation of segments or products within the firm 
B)  emphasis on the future 
C)  externally focused 
D)  detailed information 
A)  evaluation of segments or products within the firm 
B)  emphasis on the future 
C)  externally focused 
D)  detailed information

Question 18

Explain what is meant by confidentiality and why it is important.

Accepted Answer

Management accountants are entrusted wit

Question 19

Management accounting is the branch of accounting concerned with reporting to

Accepted Answer

A)  internal managers. 
B)  shareholders. 
C)  the government. 
D)  bankers. 
A)  internal managers. 
B)  shareholders. 
C)  the government. 
D)  bankers.

Question 20

Which of the following emerging themes in cost accounting deals with managers striving to create an environment that will enable workers to manufacture perfect (zero-defect) products?

Accepted Answer

A)  advances in information technology 
B)  time as a competitive element 
C)  global competition 
D)  total quality management 
A)  advances in information technology 
B)  time as a competitive element 
C)  global competition 
D)  total quality management

Give some examples of reporting feedback that will assist in continuous improvement of a dry cleaning company.

In a performance report,

Which of the following costs would be included in value-chain product costs?

Determining the bid your company should submit on a construction contract is an example of

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

Automation of the manufacturing environment is associated with increases in

Which of the following statements most accurately describes an effect of employee empowerment?

Which one of the following statements about ethical behaviour is true?

Discuss how the goal of profit maximisation is affected by ethical considerations.What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

How has the nature of accounting systems shifted in response to technology?

Total quality management emphasises

Briefly discuss the three dimensions on which competition takes place.

Inspecting units produced to determine if they meet specifications is an example of

Management accounting and financial accounting differ in that management accounting information is prepared

Management accounting reports are prepared

Setting the company's profit targets for the upcoming year is an example of the management function of

Which of the following does NOT describe management accounting?

Explain what is meant by confidentiality and why it is important.

Management accounting is the branch of accounting concerned with reporting to

Which of the following emerging themes in cost accounting deals with managers striving to create an environment that will enable workers to manufacture perfect (zero-defect) products?

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

Give some examples of reporting feedback that will assist in continuous improvement of a dry cleaning company.

In a performance report,

Which of the following costs would be included in value-chain product costs?

Determining the bid your company should submit on a construction contract is an example of

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

Automation of the manufacturing environment is associated with increases in

Which of the following statements most accurately describes an effect of employee empowerment?

Which one of the following statements about ethical behaviour is true?

Discuss how the goal of profit maximisation is affected by ethical considerations.What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

How has the nature of accounting systems shifted in response to technology?

Total quality management emphasises

Briefly discuss the three dimensions on which competition takes place.

Inspecting units produced to determine if they meet specifications is an example of

Management accounting and financial accounting differ in that management accounting information is prepared

Management accounting reports are prepared

Setting the company's profit targets for the upcoming year is an example of the management function of

Which of the following does NOT describe management accounting?

Explain what is meant by confidentiality and why it is important.

Management accounting is the branch of accounting concerned with reporting to

Which of the following emerging themes in cost accounting deals with managers striving to create an environment that will enable workers to manufacture perfect (zero-defect) products?

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