Exam 1: Introduction to Managerial Accounting

Which person or group is NOT an employee of a corporation?

Managerial accounting has its roots in the industrial age of manufacturing.

Which of the following certifications is issued by the IMA?

The IMA issues what certification?

The CMA designation is issued by the IMA.

The standards of the IMA Statement of Ethical Professional Practice include which of the following?

Which of the following management responsibilities is being fulfilled when management decides to move production to another country to lower costs?

Owners of a company are its:

What is the name given to software systems that can integrate all departments?

Discuss at least four differences between financial accounting and managerial accounting.

Which of the following are the internal decision-makers of a company?

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

The vice-president of operations directly reports to which person(s)?

Who typically manages the daily operations of a company?

Overseeing the day-to-day operations of a company is an example of the management function of:

The person or position who is directly responsible for all financial concerns is the:

Which of the following groups are most likely to use a company's budget information?

Reviewing hourly sales reports to determine the level of staffing needed to service customers fulfills which of management's four primary responsibilities?

Budgets are the quantitative expression of management's plans.

Just because a behavior is legal does not always make it ethical.