Question 1

A measuring device that identifies what is actually happening in the process being controlled is an assessor.

Accepted Answer

A) True 
 B)False  False

Question 2

As part of its control function,a cost management system is useful for
Cost behavior                    VA/NVA activity                A.ssigntment of joint
$\text {\underline{ analysis} }$                       $\text {\underline{identification} }$              $\text {\underline{ costs to joint prochucts} }$

Accepted Answer

A) yes yes yes 
B) no yes yes 
C) yes no no 
D) yes yes no 
A) yes yes yes 
B) no yes yes 
C) yes no no 
D) yes yes no D

Question 3

Define a cost management system and indicate how it should help managers.

Accepted Answer

A cost management system is a set of formal methods developed for planning and controlling an organization's cost activities relative to the goals and objectives of the organization.A cost management system should determine how effective and efficient the organization's activities are and identify the cost of resources consumed in performing these activities.The system should also identify and evaluate any new activities that may improve future performance of the organization while being aware of the changing environment in which the business operates.

Question 4

Customer satisfaction is an example of a qualitative performance measure.

Accepted Answer

A) True 
 B)False

Question 5

Define confrontation strategy and indicate why many companies may believe it is the only way to face competitors.

Accepted Answer

Confrontation strategy means that a comp

Question 6

Three groups of elements affecting the design of a cost management system are ____________________,____________________,and ____________________.

Accepted Answer

motivation

Question 7

In the future competitive environment,companies will emphasize

Accepted Answer

A) achievement of financial results. 
B) development of strategic alliances. 
C) development of annual plans. 
D) conformity to project expectations. 
A) achievement of financial results. 
B) development of strategic alliances. 
C) development of annual plans. 
D) conformity to project expectations.

Question 8

A management information system should do which of the following?
Collect                      Organize data                         Analyze data
$\text {\underline{ data} }$                     $\text {\underline{for managers} }$                    $\text {\underline{ for management} }$

Accepted Answer

A) yes no yes 
B) yes yes no 
C) no no yes 
D) yes yes yes 
A) yes no yes 
B) yes yes no 
C) no no yes 
D) yes yes yes

Question 9

A management information system should emphasize satisfying

Accepted Answer

A) external demands for information. 
B) external and internal demands for information. 
C) internal demands for information. 
D) the Accounting Department's demands for information. 
A) external demands for information. 
B) external and internal demands for information. 
C) internal demands for information. 
D) the Accounting Department's demands for information.

Question 10

A cost management system

Accepted Answer

A) is finalized when the information currently being produced is the same as the information currently desired. 
B) can be generically designed to fit the information needs of the majority of domestic (but not global)organizations. 
C) must be continuously improved to adapt to changes in an organization's internal and external environment. 
D) that has been appropriately designed from gap analysis,does not need to be changed unless there is a change in organizational management or culture. 
A) is finalized when the information currently being produced is the same as the information currently desired. 
B) can be generically designed to fit the information needs of the majority of domestic (but not global)organizations. 
C) must be continuously improved to adapt to changes in an organization's internal and external environment. 
D) that has been appropriately designed from gap analysis,does not need to be changed unless there is a change in organizational management or culture.

Question 11

Performance measurements and a reward system are part of which cost management element?

Accepted Answer

A) motivational 
B) informational 
C) reporting 
D) all of the above 
A) motivational 
B) informational 
C) reporting 
D) all of the above

Question 12

A cost management system should provide information to

Accepted Answer

A) all functional areas of the organization. 
B) only the accounting area of the organization. 
C) only the production area of the organization. 
D) organizational managers,but not to staff personnel. 
A) all functional areas of the organization. 
B) only the accounting area of the organization. 
C) only the production area of the organization. 
D) organizational managers,but not to staff personnel.

Question 13

A packaged business software system that allows an organization to improve the quality and timeliness of information as well as integrate and standardize information is referred to as a(n)_____________________________________________.
or

Accepted Answer

Enterprise

Question 14

Name five items that would be considered critical success factors by most world-class companies.Why is each of these factors so important to organizational longevity?

Accepted Answer

The five items most commonly named are t

Question 15

A long-run challenge for a business is achieving profitability.

Accepted Answer

A) True 
 B)False

Question 16

An increase in the use of technology has caused

Accepted Answer

A) fewer costs to be susceptible to short-run control. 
B) companies to be more flexible in responding to changing short-term conditions. 
C) managers to be less concerned about capacity utilization because of the increased ability to produce in large quantities. 
D) a decline in the amount of fixed costs in an organization. 
A) fewer costs to be susceptible to short-run control. 
B) companies to be more flexible in responding to changing short-term conditions. 
C) managers to be less concerned about capacity utilization because of the increased ability to produce in large quantities. 
D) a decline in the amount of fixed costs in an organization.

Question 17

Discuss the four primary components of a control system.

Accepted Answer

The four components include the followin

Question 18

In a decentralized organization,

Accepted Answer

A) all functions are delegated to subunit managers who are closest to the information. 
B) subunits under the control of a single manager are normally grouped by organizational structure. 
C) it would be difficult to group geographically related subunits pursuing different missions under the same manager. 
D) functions such as financing and product/service pricing are typically retained by top management. 
A) all functions are delegated to subunit managers who are closest to the information. 
B) subunits under the control of a single manager are normally grouped by organizational structure. 
C) it would be difficult to group geographically related subunits pursuing different missions under the same manager. 
D) functions such as financing and product/service pricing are typically retained by top management.

Question 19

Most smaller businesses are organized as corporations.

Accepted Answer

A) True 
 B)False

Question 20

Motivational elements may be quantitative or non-quantitative in nature.

Accepted Answer

A) True 
 B)False

A measuring device that identifies what is actually happening in the process being controlled is an assessor.

As part of its control function,a cost management system is useful for Cost behavior VA/NVA activity A.ssigntment of joint $\text {\underline{ analysis} }$ $\text {\underline{identification} }$ $\text {\underline{ costs to joint prochucts} }$

Define a cost management system and indicate how it should help managers.

Customer satisfaction is an example of a qualitative performance measure.

Define confrontation strategy and indicate why many companies may believe it is the only way to face competitors.

Three groups of elements affecting the design of a cost management system are ,,and .

In the future competitive environment,companies will emphasize

A management information system should do which of the following? Collect Organize data Analyze data $\text {\underline{ data} }$ $\text {\underline{for managers} }$ $\text {\underline{ for management} }$

A management information system should emphasize satisfying

A cost management system

Performance measurements and a reward system are part of which cost management element?

A cost management system should provide information to

A packaged business software system that allows an organization to improve the quality and timeliness of information as well as integrate and standardize information is referred to as a(n)_____________________________________________. or

Name five items that would be considered critical success factors by most world-class companies.Why is each of these factors so important to organizational longevity?

A long-run challenge for a business is achieving profitability.

An increase in the use of technology has caused

Discuss the four primary components of a control system.

In a decentralized organization,

Most smaller businesses are organized as corporations.

Motivational elements may be quantitative or non-quantitative in nature.

Introduction to Cost Accounting

Cost Terminology and Cost Behaviors

Predetermined Overhead Rates, Flexible Budgets, and Absorptionvariable Costing

Activity-Based Management and Activity-Based Costing

Job Order Costing

Process Costing

Standard Costing and Variance Analysis

The Master Budget

Break-Even Point and Cost-Volume-Profit Analysis

Relevant Information for Decision Making

Allocation of Joint Costs and Accounting for By-Products

Responsibility Accounting,support Department Allocations,and Transfer Pricing

Performance Measurement, balanced Scorecards, and Performance Rewards

Capital Budgeting

Managing Costs and Uncertainty

Implementing Quality Concepts

Inventory and Production Management

Emerging Management Practices

Filters

Exam 12: Introduction to Cost Management Systems

A measuring device that identifies what is actually happening in the process being controlled is an assessor.

Define a cost management system and indicate how it should help managers.

Customer satisfaction is an example of a qualitative performance measure.

Define confrontation strategy and indicate why many companies may believe it is the only way to face competitors.

Three groups of elements affecting the design of a cost management system are ____________________,____________________,and ____________________.

In the future competitive environment,companies will emphasize

A management information system should do which of the following? Collect Organize data Analyze data data‾ \text {\underline{ data} } data​ for managers‾ \text {\underline{for managers} }for managers​ for management‾ \text {\underline{ for management} } for management​

A management information system should emphasize satisfying

A cost management system

Performance measurements and a reward system are part of which cost management element?

A cost management system should provide information to

A packaged business software system that allows an organization to improve the quality and timeliness of information as well as integrate and standardize information is referred to as a(n)_____________________________________________. or

Name five items that would be considered critical success factors by most world-class companies.Why is each of these factors so important to organizational longevity?

A long-run challenge for a business is achieving profitability.

An increase in the use of technology has caused

Discuss the four primary components of a control system.

In a decentralized organization,

Most smaller businesses are organized as corporations.

Motivational elements may be quantitative or non-quantitative in nature.

Introduction to Cost Accounting

Cost Terminology and Cost Behaviors

Predetermined Overhead Rates, Flexible Budgets, and Absorptionvariable Costing

Activity-Based Management and Activity-Based Costing

Job Order Costing

Process Costing

Standard Costing and Variance Analysis

The Master Budget

Break-Even Point and Cost-Volume-Profit Analysis

Relevant Information for Decision Making

Allocation of Joint Costs and Accounting for By-Products

Responsibility Accounting,support Department Allocations,and Transfer Pricing

Performance Measurement, balanced Scorecards, and Performance Rewards

Capital Budgeting

Managing Costs and Uncertainty

Implementing Quality Concepts

Inventory and Production Management

Emerging Management Practices

Filters

Three groups of elements affecting the design of a cost management system are ,,and .

A management information system should do which of the following? Collect Organize data Analyze data $\text {\underline{ data} }$ $\text {\underline{for managers} }$ $\text {\underline{ for management} }$