Exam 1: Introduction to Managerial Accounting

SOX requires publicly traded companies to have ___________ assessed annually.

When faced with an ethical dilemma,the IMA suggests that the first thing management accountants should do is call the IMA's ethics hotline.

Which statement is TRUE?

The four primary responsibilities of managers are planning,directing,controlling,and decision making.

Which of the following describes a system in which suppliers deliver materials at the time they are needed?

E-commerce refers to the:

Managerial accounting reports are always prepared on a quarterly and annual basis.

What is the name of the professional association for managerial accountants?

Evaluating results against the plan is an example of the management function of:

What are the four primary responsibilities of managers as described in the chapter? Give an example of each type of responsibility.

Which of the following persons or groups would be LEAST likely to receive detailed managerial accounting reports?

ISO 9001:2008 is a certification program for companies that adhere to an international set of quality management standards and guidelines.

Budgets are the way that managers can express their:

Refusing gifts or favors that would influence actions is an example of which ethical standard?

The standards in the IMA Statement of Ethical Professional Practice include:

The primary users of managerial accounting information are internal users such as managers.

An example of the IMA's confidentiality standard is to:

Who typically provides oversight for large corporations?

Lean production cuts the throughput time of a manufacturing concern.

Which of the following is NOT one of the IMA's overarching ethical principles?