Question 1

The upper limit on the production of goods and services if everything works perfectly is known as:

Accepted Answer

A) practical capacity. 
B) theoretical capacity. 
C) utilized capacity. 
D) management capacity. 
E) capacity maximization. 
A) practical capacity. 
B) theoretical capacity. 
C) utilized capacity. 
D) management capacity. 
E) capacity maximization. B

Question 2

Which of the following statement(s)about just-in-time (JIT)inventory management is (are)true?
I.The emphasis of JIT is on "pull" manufacturing.
II.Raw materials are purchased just in time to be used in production.
III.JIT is an inventory technique that focuses on reduction of both inventory and related inventory costs.

Accepted Answer

A) I only. 
B) II only. 
C) III only. 
D) II and III. 
E) I,II,and III. 
A) I only. 
B) II only. 
C) III only. 
D) II and III. 
E) I,II,and III. E

Question 3

Financial accounting focuses primarily on reporting:

Accepted Answer

A) to parties outside of an organization. 
B) to parties within an organization. 
C) to an organization's board of directors. 
D) to financial institutions. 
E) for financial institutions. 
A) to parties outside of an organization. 
B) to parties within an organization. 
C) to an organization's board of directors. 
D) to financial institutions. 
E) for financial institutions. A

Question 4

Which of the following is not a function of the treasurer?

Accepted Answer

A) Safeguarding assets. 
B) Managing investments. 
C) Preparing financial statements. 
D) Being responsible for an entity's credit policy. 
E) Raising capital. 
A) Safeguarding assets. 
B) Managing investments. 
C) Preparing financial statements. 
D) Being responsible for an entity's credit policy. 
E) Raising capital.

Question 5

The upper limit on the production of goods and services if everything works perfectly is known as practical capacity.

Accepted Answer

A) True 
 B)False

Question 6

Unused or excess capacity is a key component of contemporary management accounting.Define the term "excess capacity" and explain how it would relate to a coffee shop.

Accepted Answer

Excess capacity is the difference betwee

Question 7

Managerial accounting has changed in recent years because of:

Accepted Answer

A) the growth of e-business. 
B) increased global competition. 
C) the emergence of new industries. 
D) an increased focus on the customer. 
E) All of these factors. 
A) the growth of e-business. 
B) increased global competition. 
C) the emergence of new industries. 
D) an increased focus on the customer. 
E) All of these factors.

Question 8

Measuring the performance of managers and subunits is not an objective of managerial accounting.

Accepted Answer

A) True 
 B)False

Question 9

The capacity concept that allows for normal occurrences such as machine downtime and employee fatigue is known as:

Accepted Answer

A) practical capacity. 
B) theoretical capacity. 
C) utilized capacity. 
D) management capacity. 
E) capacity maximization. 
A) practical capacity. 
B) theoretical capacity. 
C) utilized capacity. 
D) management capacity. 
E) capacity maximization.

Question 10

The day-to-day work of management teams will typically comprise all of the following activities except:

Accepted Answer

A) decision making. 
B) planning. 
C) cost minimizing. 
D) directing operational activities. 
E) controlling. 
A) decision making. 
B) planning. 
C) cost minimizing. 
D) directing operational activities. 
E) controlling.

Question 11

Which of the following functions is best described as choosing among available alternatives?

Accepted Answer

A) Decision making. 
B) Planning. 
C) Directing operational activities. 
D) Controlling. 
E) Budgeting. 
A) Decision making. 
B) Planning. 
C) Directing operational activities. 
D) Controlling. 
E) Budgeting.

Question 12

Given the following information,what is the cost of unused capacity? Cost of material supplied is $3,200;Cost of material used is $3,000;Cost of material used per cake is $3;Cost of material supplied per cake is $3.20.

Accepted Answer

A) $0.20. 
B) $200. 
C) $2,000. 
D) $1,000. 
E) There is no unused capacity. 
A) $0.20. 
B) $200. 
C) $2,000. 
D) $1,000. 
E) There is no unused capacity.

Question 13

Managerial accounting:

Accepted Answer

A) is unregulated. 
B) produces information that is useful only for manufacturing organizations. 
C) is based exclusively on historical data. 
D) is regulated by the Securities and Exchange Commission (SE
C) . 
E) generally focuses on reporting information about the enterprise in its entirety rather than by subunits. 
A) is unregulated. 
B) produces information that is useful only for manufacturing organizations. 
C) is based exclusively on historical data. 
D) is regulated by the Securities and Exchange Commission (SE
C) . 
E) generally focuses on reporting information about the enterprise in its entirety rather than by subunits.

Question 14

Managerial accounting:

Accepted Answer

A) focuses only on historical datA. 
B) is governed by GAAP. 
C) focuses primarily on the needs of personnel within the organization. 
D) provides information for parties external to the organization. 
E) focuses on financial statements and other financial reports. 
A) focuses only on historical datA. 
B) is governed by GAAP. 
C) focuses primarily on the needs of personnel within the organization. 
D) provides information for parties external to the organization. 
E) focuses on financial statements and other financial reports.

Question 15

Cost management systems tend to focus on an organization's:

Accepted Answer

A) machines. 
B) employees. 
C) activities. 
D) customers. 
E) rules and regulations. 
A) machines. 
B) employees. 
C) activities. 
D) customers. 
E) rules and regulations.

Question 16

Which of the preceding activities would likely not be considered part of The Gap clothing company's value chain?

Accepted Answer

A) Designing a new product line. 
B) Locating and then negotiating terms with a clothing manufacturer. 
C) Marketing an existing product line. 
D) Distributing goods from regional warehouses to local stores. 
E) All of these activities would be an element in the company's value chain. 
A) Designing a new product line. 
B) Locating and then negotiating terms with a clothing manufacturer. 
C) Marketing an existing product line. 
D) Distributing goods from regional warehouses to local stores. 
E) All of these activities would be an element in the company's value chain.

Question 17

Which of the following is not normally considered to be an element of e-business?

Accepted Answer

A) E-budgeting. 
B) Supply-chain management. 
C) E-commerce. 
D) Balanced scorecards. 
E) Choices "B" and "D" abovE. 
A) E-budgeting. 
B) Supply-chain management. 
C) E-commerce. 
D) Balanced scorecards. 
E) Choices "B" and "D" abovE.

Question 18

The value chain of a manufacturer would tend to include activities related to:

Accepted Answer

A) manufacturing. 
B) research and development. 
C) product design. 
D) marketing. 
E) All of thesE. 
A) manufacturing. 
B) research and development. 
C) product design. 
D) marketing. 
E) All of thesE.

Question 19

Which of the following employees at Delta Airlines would not be considered as holding a line position?

Accepted Answer

A) Pilot. 
B) Chief financial officer (CFO). 
C) Flight attendant. 
D) Ticket agent. 
E) Baggage handler. 
A) Pilot. 
B) Chief financial officer (CFO). 
C) Flight attendant. 
D) Ticket agent. 
E) Baggage handler.

Question 20

The role of managerial accounting information in assisting management is a(n):

Accepted Answer

A) financial-directing role. 
B) attention-directing role. 
C) planning and controlling role. 
D) organizational role. 
E) problem-solving rolE. 
A) financial-directing role. 
B) attention-directing role. 
C) planning and controlling role. 
D) organizational role. 
E) problem-solving rolE.

The upper limit on the production of goods and services if everything works perfectly is known as:

Financial accounting focuses primarily on reporting:

Which of the following is not a function of the treasurer?

The upper limit on the production of goods and services if everything works perfectly is known as practical capacity.

Unused or excess capacity is a key component of contemporary management accounting.Define the term "excess capacity" and explain how it would relate to a coffee shop.

Managerial accounting has changed in recent years because of:

Measuring the performance of managers and subunits is not an objective of managerial accounting.

The capacity concept that allows for normal occurrences such as machine downtime and employee fatigue is known as:

The day-to-day work of management teams will typically comprise all of the following activities except:

Which of the following functions is best described as choosing among available alternatives?

Given the following information,what is the cost of unused capacity? Cost of material supplied is $3,200;Cost of material used is $3,000;Cost of material used per cake is $3;Cost of material supplied per cake is $3.20.

Managerial accounting:

Managerial accounting:

Cost management systems tend to focus on an organization's:

Which of the preceding activities would likely not be considered part of The Gap clothing company's value chain?

Which of the following is not normally considered to be an element of e-business?

The value chain of a manufacturer would tend to include activities related to:

Which of the following employees at Delta Airlines would not be considered as holding a line position?

The role of managerial accounting information in assisting management is a(n):

Basic Cost Management Concepts and Accounting for Mass Customization Operations

Product Costing and Cost Accumulation in a Batch Production Environment

Process Costing and Hybrid Product-Costing Systems

Activity-Based Costing and Management

Activity Analysis,cost Behavior,and Cost Estimation

Appendix I: The Sarbanes-Oxley Act, Internal Controls, and Management Accounting

Cost-Volume-Profit Analysis

Absorption and Variable Costing

Profit Planning and Activity-Based Budgeting

Standard Costing,Operational Performance Measures,and the Balanced Scorecard

Flexible Budgeting and the Management of Overhead and Support Activity Costs

Responsibility Accounting, Quality Control, and Environmental Cost Management

Investment Centers and Transfer Pricing

Decision Making: Relevant Costs and Benefits

Target Costing and Cost Analysis for Pricing Decisions

Capital Expenditure Decisions

Allocation of Support Activity Costs and Joint Costs

compound Interest and the Concept of Present Value

Inventory Management

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Exam 1: The Changing Role of Managerial Accounting in a Dynamic Business Environment

The upper limit on the production of goods and services if everything works perfectly is known as:

Financial accounting focuses primarily on reporting:

Which of the following is not a function of the treasurer?

The upper limit on the production of goods and services if everything works perfectly is known as practical capacity.

Unused or excess capacity is a key component of contemporary management accounting.Define the term "excess capacity" and explain how it would relate to a coffee shop.

Managerial accounting has changed in recent years because of:

Measuring the performance of managers and subunits is not an objective of managerial accounting.

The capacity concept that allows for normal occurrences such as machine downtime and employee fatigue is known as:

The day-to-day work of management teams will typically comprise all of the following activities except:

Which of the following functions is best described as choosing among available alternatives?

Given the following information,what is the cost of unused capacity? Cost of material supplied is $3,200;Cost of material used is $3,000;Cost of material used per cake is $3;Cost of material supplied per cake is $3.20.

Managerial accounting:

Managerial accounting:

Cost management systems tend to focus on an organization's:

Which of the preceding activities would likely not be considered part of The Gap clothing company's value chain?

Which of the following is not normally considered to be an element of e-business?

The value chain of a manufacturer would tend to include activities related to:

Which of the following employees at Delta Airlines would not be considered as holding a line position?

The role of managerial accounting information in assisting management is a(n):

Basic Cost Management Concepts and Accounting for Mass Customization Operations

Product Costing and Cost Accumulation in a Batch Production Environment

Process Costing and Hybrid Product-Costing Systems

Activity-Based Costing and Management

Activity Analysis,cost Behavior,and Cost Estimation

Appendix I: The Sarbanes-Oxley Act, Internal Controls, and Management Accounting

Cost-Volume-Profit Analysis

Absorption and Variable Costing

Profit Planning and Activity-Based Budgeting

Standard Costing,Operational Performance Measures,and the Balanced Scorecard

Flexible Budgeting and the Management of Overhead and Support Activity Costs

Responsibility Accounting, Quality Control, and Environmental Cost Management

Investment Centers and Transfer Pricing

Decision Making: Relevant Costs and Benefits

Target Costing and Cost Analysis for Pricing Decisions

Capital Expenditure Decisions

Allocation of Support Activity Costs and Joint Costs

compound Interest and the Concept of Present Value

Inventory Management

Filters