Question 1

Which of the following areas is not emphasized on the CMA examination?

Accepted Answer

A)  external auditing and business law 
B)  economics, finance, and management 
C)  decision analysis and information systems 
D)  financial accounting and reporting 
A)  external auditing and business law 
B)  economics, finance, and management 
C)  decision analysis and information systems 
D)  financial accounting and reporting

Question 2

Which of the following is an example of the management activity referred to as planning?

Accepted Answer

A)  Developing a strategy for disposing of hazardous waste. 
B)  The decision to eliminate an unprofitable segment of an organization. 
C)  The decision to outsource an organization's payroll processing. 
D)  All of these are correct 
A)  Developing a strategy for disposing of hazardous waste. 
B)  The decision to eliminate an unprofitable segment of an organization. 
C)  The decision to outsource an organization's payroll processing. 
D)  All of these are correct

Question 3

The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as ______________.

Accepted Answer

The answer of The managerial activity of monitoring a plan's...

Question 4

The process of choosing among competing alternatives is called ________________________.

Accepted Answer

The answer of The process of choosing among competing alternatives...

Question 5

________________________ involves choosing actions that are right, proper, and just.

Accepted Answer

The answer of ________________________ involves choosing actions that are right,...

Question 6

Managerial accounting reports are prepared

Accepted Answer

A)  according to GAAP guidelines. 
B)  to meet the needs of decision makers within the firm. 
C)  for external users. 
D)  all of these are correct 
A)  according to GAAP guidelines. 
B)  to meet the needs of decision makers within the firm. 
C)  for external users. 
D)  all of these are correct

Question 7

The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as decision making.

Accepted Answer

A) True 
 B)False

Question 8

A __________________________ has passed a comprehensive examination designed to ensure technical competence and has two years of experience.

Accepted Answer

Certified

Question 9

Investigating production variances and adjusting the production process is an example of

Accepted Answer

A)  planning. 
B)  controlling. 
C)  decision making. 
D)  all of these. 
A)  planning. 
B)  controlling. 
C)  decision making. 
D)  all of these.

Question 10

Managerial accounting

Accepted Answer

A)  is primarily for external users. 
B)  has no mandatory rules. 
C)  provides information based on historical information. 
D)  must adhere to GAAP. 
A)  is primarily for external users. 
B)  has no mandatory rules. 
C)  provides information based on historical information. 
D)  must adhere to GAAP.

Question 11

The process of choosing among competing alternatives is decision making.

Accepted Answer

A) True 
 B)False

Question 12

In June 2002, Congress passed the____________________________________ in response to financial scandals such as Enron.

Accepted Answer

Sarbanes-O

Question 13

The purpose of the Certificate in Public Accounting is to provide minimal professional qualification for external auditors.

Accepted Answer

A) True 
 B)False

Question 14

The controller of an organization participates in

Accepted Answer

A)  planning. 
B)  controlling. 
C)  decision making. 
D)  all of these are correct 
A)  planning. 
B)  controlling. 
C)  decision making. 
D)  all of these are correct

Question 15

Describe the major differences between managerial accounting and financial accounting.

Accepted Answer

Managerial accounting:
Internally focuse

Question 16

Time is not a crucial element in all phases of the value chain.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following would normally occupy a staff position?

Accepted Answer

A)  assembly worker 
B)  cost accounting manager 
C)  factory manager 
D)  all of these 
A)  assembly worker 
B)  cost accounting manager 
C)  factory manager 
D)  all of these

Question 18

Managerial accounting has its emphasis on the future.

Accepted Answer

A) True 
 B)False

Question 19

Virtually all managerial accounting practices were developed to assist managers in maximizing profits.

Accepted Answer

A) True 
 B)False

Question 20

Discuss in detail the three uses of managerial accounting information.

Accepted Answer

The three uses of managerial accounting

Which of the following areas is not emphasized on the CMA examination?

Which of the following is an example of the management activity referred to as planning?

The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as ______________.

The process of choosing among competing alternatives is called ________________________.

________________________ involves choosing actions that are right, proper, and just.

Managerial accounting reports are prepared

The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as decision making.

A __________________________ has passed a comprehensive examination designed to ensure technical competence and has two years of experience.

Investigating production variances and adjusting the production process is an example of

Managerial accounting

The process of choosing among competing alternatives is decision making.

In June 2002, Congress passed the____________________________________ in response to financial scandals such as Enron.

The purpose of the Certificate in Public Accounting is to provide minimal professional qualification for external auditors.

The controller of an organization participates in

Describe the major differences between managerial accounting and financial accounting.

Time is not a crucial element in all phases of the value chain.

Which of the following would normally occupy a staff position?

Managerial accounting has its emphasis on the future.

Virtually all managerial accounting practices were developed to assist managers in maximizing profits.

Discuss in detail the three uses of managerial accounting information.

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

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Exam 1: Introduction to Managerial Accounting

Which of the following areas is not emphasized on the CMA examination?

Which of the following is an example of the management activity referred to as planning?

The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as ______________.

The process of choosing among competing alternatives is called ________________________.

________________________ involves choosing actions that are right, proper, and just.

Managerial accounting reports are prepared

The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as decision making.

A __________________________ has passed a comprehensive examination designed to ensure technical competence and has two years of experience.

Investigating production variances and adjusting the production process is an example of

Managerial accounting

The process of choosing among competing alternatives is decision making.

In June 2002, Congress passed the____________________________________ in response to financial scandals such as Enron.

The purpose of the Certificate in Public Accounting is to provide minimal professional qualification for external auditors.

The controller of an organization participates in

Describe the major differences between managerial accounting and financial accounting.

Time is not a crucial element in all phases of the value chain.

Which of the following would normally occupy a staff position?

Managerial accounting has its emphasis on the future.

Virtually all managerial accounting practices were developed to assist managers in maximizing profits.

Discuss in detail the three uses of managerial accounting information.

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