Question 1

Which of the following is NOT a benefit of a just-in-time (JIT)system?

Accepted Answer

A)  Funds that have been tied up in inventories can be used elsewhere. 
B)  Areas previously used to store inventories are made available for other more productive uses. 
C)  The time required to fill an order is reduced,resulting in quicker response to customers and consequentially greater potential sales. 
D)  Production workers are always busy. 
A)  Funds that have been tied up in inventories can be used elsewhere. 
B)  Areas previously used to store inventories are made available for other more productive uses. 
C)  The time required to fill an order is reduced,resulting in quicker response to customers and consequentially greater potential sales. 
D)  Production workers are always busy.

Question 2

Which of the following is NOT included in Codes of Ethics for professional accountants?

Accepted Answer

A)  Professional competence 
B)  Objectivity 
C)  Compensation 
D)  Confidentiality 
A)  Professional competence 
B)  Objectivity 
C)  Compensation 
D)  Confidentiality

Question 3

Performance reports provide formal feedback to assist in determining whether operations and performance are on track..

Accepted Answer

A) True 
 B)False

Question 4

The theory of constraint (TOC)framework focuses on effectively managing constraints as the key to success.

Accepted Answer

A) True 
 B)False

Question 5

Explain the importance of ethical responsibility and explain the need for ethical codes of conduct.

Accepted Answer

Unethical behaviour is often the result

Question 6

Service firms do not sell any products but generate revenues by offering one or more types of services.

Accepted Answer

A) True 
 B)False

Question 7

Merchandising and manufacturing firms generate revenue by selling products.

Accepted Answer

A) True 
 B)False

Question 8

A manufacturing business which operates five days per week has four different departments involved in producing each unit of its product.Maximum daily production capacities of each are: Department A - 100 units;Department B - 135 units;Department C - 95 units,and Department D - 110 units.Maximum weekly output of completed units is?

Accepted Answer

A)  440 
B)  475 
C)  550 
D)  675 
A)  440 
B)  475 
C)  550 
D)  675

Question 9

In using total quality management (TQM),the key focus is,

Accepted Answer

A)  employee focus. 
B)  management focus. 
C)  customer focus. 
D)  executive focus. 
A)  employee focus. 
B)  management focus. 
C)  customer focus. 
D)  executive focus.

Question 10

Management accountants are not required to follow the generally accepted accounting principles that are used for external financial reporting when preparing reports for internal users.

Accepted Answer

A) True 
 B)False

Which of the following is NOT a benefit of a just-in-time (JIT)system?

Which of the following is NOT included in Codes of Ethics for professional accountants?

Performance reports provide formal feedback to assist in determining whether operations and performance are on track..

The theory of constraint (TOC)framework focuses on effectively managing constraints as the key to success.

Explain the importance of ethical responsibility and explain the need for ethical codes of conduct.

Service firms do not sell any products but generate revenues by offering one or more types of services.

Merchandising and manufacturing firms generate revenue by selling products.

In using total quality management (TQM),the key focus is,

Management accountants are not required to follow the generally accepted accounting principles that are used for external financial reporting when preparing reports for internal users.

Systems Design: Job-Order Costing

Systems Design: Activity-Based Costing

Systems Design: Process Costing

Cost Behavior: Analysis and Use

Cost-Volume-Profit Relationships

Profit Planning

Standard Costs

Flexible Budgets and Overhead Analysis

Decentralization

Relevant Costs for Decision Making

Capital Budgeting Decisions

How Well Am I Doing Statement of Cash Flows

How Well Am I Doing Financial Statement Analysis

Filters

Exam 1: An Introduction to Managerial Accounting and Cost Concepts

Which of the following is NOT a benefit of a just-in-time (JIT)system?

Which of the following is NOT included in Codes of Ethics for professional accountants?

Performance reports provide formal feedback to assist in determining whether operations and performance are on track..

The theory of constraint (TOC)framework focuses on effectively managing constraints as the key to success.

Explain the importance of ethical responsibility and explain the need for ethical codes of conduct.

Service firms do not sell any products but generate revenues by offering one or more types of services.

Merchandising and manufacturing firms generate revenue by selling products.

In using total quality management (TQM),the key focus is,

Management accountants are not required to follow the generally accepted accounting principles that are used for external financial reporting when preparing reports for internal users.

Systems Design: Job-Order Costing

Systems Design: Activity-Based Costing

Systems Design: Process Costing

Cost Behavior: Analysis and Use

Cost-Volume-Profit Relationships

Profit Planning

Standard Costs

Flexible Budgets and Overhead Analysis

Decentralization

Relevant Costs for Decision Making

Capital Budgeting Decisions

How Well Am I Doing Statement of Cash Flows

How Well Am I Doing Financial Statement Analysis

Filters