Question 1

Why do accountants frequently work more than 40 hours per week?

Accepted Answer

"Because accounting typically involves t

Question 2

Of those who begin their careers in public accounting, on average, what percentage will leave to take positions in corporations or other organizations?

Accepted Answer

A)  25% 
B)  90% 
C)  75% 
D)  50% 
A)  25% 
B)  90% 
C)  75% 
D)  50%

Question 3

Who are EBC's primary customers?

Accepted Answer

"EBC provides consulting servi

Question 4

What is the AICPA?

Accepted Answer

"the American Institute of CPA

Question 5

Many firms have typically used a "just-in-case"
inventory system by carrying "safety stock"
as a buffer against unforeseen delays.

Accepted Answer

A) True 
 B)False

Question 6

Fezzari's number of employees varies with the level of customer demand.

Accepted Answer

A) True 
 B)False

Question 7

What type of firm is EBC?

Accepted Answer

A)  Service firm 
B)  Merchandising firm 
C)  Manufacturing firm 
D)  Two of the above 
E)  None of the above 
A)  Service firm 
B)  Merchandising firm 
C)  Manufacturing firm 
D)  Two of the above 
E)  None of the above

Question 8

What is a manufacturing firm?

Accepted Answer

"Manufacturing firms are compa

Question 9

Every new accounting graduate must begin their career working at one of the "Big 4"
accounting firms.

Accepted Answer

A) True 
 B)False

Question 10

What is are the requirements to hold the designation of CMA?

Accepted Answer

"CMA candidates are required to hold a b

Question 11

All of the following are benefits of outsourcing except:

Accepted Answer

A)  Ability to provide services from anywhere in the world 
B)  Companies can focus more efforts on core business activities 
C)  Significantly faster service and higher quality of products and services 
D)  Not having to worry about under-utilized, undertrained staff 
A)  Ability to provide services from anywhere in the world 
B)  Companies can focus more efforts on core business activities 
C)  Significantly faster service and higher quality of products and services 
D)  Not having to worry about under-utilized, undertrained staff

Question 12

What is a service firm?

Accepted Answer

"Service firms are c

Question 13

What types of businesses typically require the skills of an accountant to run effectively?

Accepted Answer

Every business, from the small

Question 14

Just-in-time (JIT) inventory systems are designed to reduce which of the following:

Accepted Answer

A)  Costs of carrying inventory 
B)  Possibility of delayed shipments 
C)  Threat of lost sales due to unexpected demand 
D)  All of the above 
A)  Costs of carrying inventory 
B)  Possibility of delayed shipments 
C)  Threat of lost sales due to unexpected demand 
D)  All of the above

Question 15

What is a "just-in-time" inventory system?

Accepted Answer

"Just-in-time means that mater

Question 16

EBC specializes in consulting all of the following organizations except:

Accepted Answer

A)  County governments 
B)  City governments 
C)  Special districts 
D)  State governments 
A)  County governments 
B)  City governments 
C)  Special districts 
D)  State governments

Question 17

What are some of the industries that provide career opportunities for accountants?

Accepted Answer

"Accounting careers may be for

Question 18

Which of the following is not a source of information used by Management Accountants?

Accepted Answer

A)  Upper management 
B)  Line employees 
C)  Financial results of the company's operations 
D)  All of these are sources of managerial accounting information 
A)  Upper management 
B)  Line employees 
C)  Financial results of the company's operations 
D)  All of these are sources of managerial accounting information

Why do accountants frequently work more than 40 hours per week?

Of those who begin their careers in public accounting, on average, what percentage will leave to take positions in corporations or other organizations?

Who are EBC's primary customers?

What is the AICPA?

Many firms have typically used a "just-in-case" inventory system by carrying "safety stock" as a buffer against unforeseen delays.

Fezzari's number of employees varies with the level of customer demand.

What type of firm is EBC?

What is a manufacturing firm?

Every new accounting graduate must begin their career working at one of the "Big 4" accounting firms.

What is are the requirements to hold the designation of CMA?

All of the following are benefits of outsourcing except:

What is a service firm?

What types of businesses typically require the skills of an accountant to run effectively?

Just-in-time (JIT) inventory systems are designed to reduce which of the following:

What is a "just-in-time" inventory system?

EBC specializes in consulting all of the following organizations except:

What are some of the industries that provide career opportunities for accountants?

Which of the following is not a source of information used by Management Accountants?

Managerial Accounting Concepts and Cost Flows

Cost Accounting Systems: Job Order Costing

Cost Accounting Systems: Process Costing

Activity-Based Costing

Cost-Volume-Profit Relationships

Variable Costing: A Tool for Decision Making

Relevant Costs and Short-Term Decision Making

Planning and Budgeting

Standard Costing and Variance Analysis

Flexible Budgets, Segment Analysis, and Performance Reporting

Capital Budgeting

Statement of Cash Flows

Analysis and Interpretation of Financial Statements

Appendix: Accounting and the Time Value of Money

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Exam 1: Overview of Managerial Accounting

Why do accountants frequently work more than 40 hours per week?

Of those who begin their careers in public accounting, on average, what percentage will leave to take positions in corporations or other organizations?

Who are EBC's primary customers?

What is the AICPA?

Many firms have typically used a "just-in-case" inventory system by carrying "safety stock" as a buffer against unforeseen delays.

Fezzari's number of employees varies with the level of customer demand.

What type of firm is EBC?

What is a manufacturing firm?

Every new accounting graduate must begin their career working at one of the "Big 4" accounting firms.

What is are the requirements to hold the designation of CMA?

All of the following are benefits of outsourcing except:

What is a service firm?

What types of businesses typically require the skills of an accountant to run effectively?

Just-in-time (JIT) inventory systems are designed to reduce which of the following:

What is a "just-in-time" inventory system?

EBC specializes in consulting all of the following organizations except:

What are some of the industries that provide career opportunities for accountants?

Which of the following is not a source of information used by Management Accountants?

Managerial Accounting Concepts and Cost Flows

Cost Accounting Systems: Job Order Costing

Cost Accounting Systems: Process Costing

Activity-Based Costing

Cost-Volume-Profit Relationships

Variable Costing: A Tool for Decision Making

Relevant Costs and Short-Term Decision Making

Planning and Budgeting

Standard Costing and Variance Analysis

Flexible Budgets, Segment Analysis, and Performance Reporting

Capital Budgeting

Statement of Cash Flows

Analysis and Interpretation of Financial Statements

Appendix: Accounting and the Time Value of Money

Filters