Question 1

Managerial accounting strongly emphasizes providing information about _________________.

Accepted Answer

future events

Question 2

______________________________ is the provision of accounting information for a company's internal users.

Accepted Answer

Managerial accounting

Question 3

The four emphasized areas of the CMA examination reflect the needs of managerial accounting and highlights that managerial accounting has more of an interdisciplinary flavor than other areas of accounting.

Accepted Answer

A) True 
 B)False  True

Question 4

____________________ is primarily concerned with producing information for external users.

Accepted Answer

Financial

Question 5

Activity-based costing

Accepted Answer

A)  strives to create an environment that will enable workers to manufacture zero-defect products. 
B)  is the process of choosing among competing alternatives. 
C)  was established in response to financial scandals. 
D)  encourages process-value analysis. 
A)  strives to create an environment that will enable workers to manufacture zero-defect products. 
B)  is the process of choosing among competing alternatives. 
C)  was established in response to financial scandals. 
D)  encourages process-value analysis.

Question 6

The standards of ethical conduct for managerial 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 credibility. 
A)  competence and performance. 
B)  integrity and respect for others. 
C)  confidentiality, confidence, integrity, and observance. 
D)  competence, confidentiality, integrity, and credibility.

Question 7

Accountants that have a Certificate in Public Accounting (CPA):

Accepted Answer

A)  are the only accountants permitted to serve as external auditors. 
B)  must pass a national examination and be licensed by the state in which they practice. 
C)  may be held responsible to provide assurance concerning the reliability of a firm's financial statements. 
D)  all of these statements are true. 
A)  are the only accountants permitted to serve as external auditors. 
B)  must pass a national examination and be licensed by the state in which they practice. 
C)  may be held responsible to provide assurance concerning the reliability of a firm's financial statements. 
D)  all of these statements are true.

Question 8

Persons in the United States who provide assurance service are designated as

Accepted Answer

A)  Certified Public Accountants. 
B)  Certified Financial Accountants. 
C)  Chartered Accountants. 
D)  Certified Management Accountants. 
A)  Certified Public Accountants. 
B)  Certified Financial Accountants. 
C)  Chartered Accountants. 
D)  Certified Management Accountants.

Question 9

Only a _________________________ is permitted to serve as an external auditor.

Accepted Answer

Certified

Question 10

The _____________________ is the set of activities required to design, develop, produce, market and deliver products and services as well as provide support services to customers.

Accepted Answer

The answer of The _____________________ is the set of activities...

Question 11

The value chain is the set of activities required to design, develop, produce, market, and deliver products and service to customers.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following would not be an example of a value-added activity?

Accepted Answer

A)  timely delivery of products 
B)  offering the customer a variety of products 
C)  storage of finished products 
D)  excellent customer service 
A)  timely delivery of products 
B)  offering the customer a variety of products 
C)  storage of finished products 
D)  excellent customer service

Question 13

Financial accounting is governed by GAAP.

Accepted Answer

A) True 
 B)False

Question 14

The managerial accounting system produces information for __________ users.

Accepted Answer

The answer of The managerial accounting system produces information for...

Question 15

__________________________ organizes costs according to the value chain and collects both financial and nonfinancial information.

Accepted Answer

The answer of __________________________ organizes costs according to the value...

Question 16

The Institute of Management Accountants (IMA) established ethical standards for accountants known as the Statement of Ethical Professional Practice. Briefly describe the four standards.

Accepted Answer

1.) Competence- maintain an appropriate

Question 17

Which of the following would normally occupy a line position?

Accepted Answer

A)  staff accountant 
B)  accounting manager 
C)  vice-president of marketing 
D)  treasurer 
A)  staff accountant 
B)  accounting manager 
C)  vice-president of marketing 
D)  treasurer

Question 18

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

Accepted Answer

A)  To prepare external reports for investors, creditors, government agencies, and other outside users. 
B)  To provide information for costing of services, products, and other objects of interest to management. 
C)  To provide information for planning, controlling, evaluating and continuous improvement. 
D)  To provide information for decision making. 
A)  To prepare external reports for investors, creditors, government agencies, and other outside users. 
B)  To provide information for costing of services, products, and other objects of interest to management. 
C)  To provide information for planning, controlling, evaluating and continuous improvement. 
D)  To provide information for decision making.

Question 19

Positions that are supportive in nature and have only indirect responsibility for an organization's basic objectives are called ________________________.

Accepted Answer

The answer of Positions that are supportive in nature and...

Question 20

__________________________________________ is a management philosophy in which manufacturers strive to create an environment that will enable workers to manufacture perfect (zero-defect) products.

Accepted Answer

Total qual

Managerial accounting strongly emphasizes providing information about _________________.

______________________________ is the provision of accounting information for a company's internal users.

The four emphasized areas of the CMA examination reflect the needs of managerial accounting and highlights that managerial accounting has more of an interdisciplinary flavor than other areas of accounting.

____________________ is primarily concerned with producing information for external users.

Activity-based costing

The standards of ethical conduct for managerial accountants include

Accountants that have a Certificate in Public Accounting (CPA):

Persons in the United States who provide assurance service are designated as

Only a _________________________ is permitted to serve as an external auditor.

The _____________________ is the set of activities required to design, develop, produce, market and deliver products and services as well as provide support services to customers.

The value chain is the set of activities required to design, develop, produce, market, and deliver products and service to customers.

Which of the following would not be an example of a value-added activity?

Financial accounting is governed by GAAP.

The managerial accounting system produces information for __________ users.

__________________________ organizes costs according to the value chain and collects both financial and nonfinancial information.

The Institute of Management Accountants (IMA) established ethical standards for accountants known as the Statement of Ethical Professional Practice. Briefly describe the four standards.

Which of the following would normally occupy a line position?

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

Positions that are supportive in nature and have only indirect responsibility for an organization's basic objectives are called ________________________.

__________________________________________ is a management philosophy in which manufacturers strive to create an environment that will enable workers to manufacture perfect (zero-defect) products.

Basic Managerial Accounting Concepts

Cost Behavior

Cost-Volume-Profit Analysis: a Managerial Planning Tool

Job-Order Costing

Process Costing

Activity-Based Costing and Management

Absorption and Variable Costing, and Inventory Management

Profit Planning

Standard Costing: a Managerial Control Tool

Flexible Budgets and Overhead Analysis

Performance Evaluation and Decentralization

Short-Run Decision Making: Relevant Costing

Capital Investment Decisions

Statement of Cash Flows

Financial Statement Analysis

Filters

Exam 1: Introduction to Managerial Accounting

Managerial accounting strongly emphasizes providing information about _________________.

______________________________ is the provision of accounting information for a company's internal users.

The four emphasized areas of the CMA examination reflect the needs of managerial accounting and highlights that managerial accounting has more of an interdisciplinary flavor than other areas of accounting.

____________________ is primarily concerned with producing information for external users.

Activity-based costing

The standards of ethical conduct for managerial accountants include

Accountants that have a Certificate in Public Accounting (CPA):

Persons in the United States who provide assurance service are designated as

Only a _________________________ is permitted to serve as an external auditor.

The _____________________ is the set of activities required to design, develop, produce, market and deliver products and services as well as provide support services to customers.

The value chain is the set of activities required to design, develop, produce, market, and deliver products and service to customers.

Which of the following would not be an example of a value-added activity?

Financial accounting is governed by GAAP.

The managerial accounting system produces information for __________ users.

__________________________ organizes costs according to the value chain and collects both financial and nonfinancial information.

The Institute of Management Accountants (IMA) established ethical standards for accountants known as the Statement of Ethical Professional Practice. Briefly describe the four standards.

Which of the following would normally occupy a line position?

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

Positions that are supportive in nature and have only indirect responsibility for an organization's basic objectives are called ________________________.

__________________________________________ is a management philosophy in which manufacturers strive to create an environment that will enable workers to manufacture perfect (zero-defect) products.

Basic Managerial Accounting Concepts

Cost Behavior

Cost-Volume-Profit Analysis: a Managerial Planning Tool

Job-Order Costing

Process Costing

Activity-Based Costing and Management

Absorption and Variable Costing, and Inventory Management

Profit Planning

Standard Costing: a Managerial Control Tool

Flexible Budgets and Overhead Analysis

Performance Evaluation and Decentralization

Short-Run Decision Making: Relevant Costing

Capital Investment Decisions

Statement of Cash Flows

Financial Statement Analysis

Filters