Question 1

Managerial accounting information provides feedback about how well the organization is implementing its strategy and achieving its goals.

Accepted Answer

A) True 
 B)False

Question 2

The forefront of managerial activity is

Accepted Answer

A) Planning activities. 
B) Controlling activities. 
C) Evaluating activities. 
D) Decision making. 
A) Planning activities. 
B) Controlling activities. 
C) Evaluating activities. 
D) Decision making.

Question 3

Which of the following is least likely to be in a company's code of ethics?

Accepted Answer

A) Access to information 
B) Projected percentage of employees who act unethically 
C) Development and fundraising 
D) Clarity of information 
A) Access to information 
B) Projected percentage of employees who act unethically 
C) Development and fundraising 
D) Clarity of information

Question 4

Which of the following is a not a consequence of unethical behavior?

Accepted Answer

A) It can lead to illegal activity. 
B) It can lead to the destruction of the firm. 
C) It can lead to inferior financial performance. 
D) All of these ans choices are consequences of unethical behavior. 
A) It can lead to illegal activity. 
B) It can lead to the destruction of the firm. 
C) It can lead to inferior financial performance. 
D) All of these ans choices are consequences of unethical behavior.

Question 5

The four strategies based on a firm's approach to market share growth are build,hold,harvest and divest.

Accepted Answer

A) True 
 B)False

Question 6

In a survey of global business executives,what percentage did Bain & Company find were using a balanced scorecard?

Accepted Answer

A) Almost 50% 
B) Almost 70% 
C) Almost 75% 
D) Almost 25% 
A) Almost 50% 
B) Almost 70% 
C) Almost 75% 
D) Almost 25%

Question 7

List three reasons why it is important for a company to have a written code of conduct.

Accepted Answer

Answers will vary.Common examp

Question 8

For each statement below,indicate the management tool being implemented.

Accepted Answer

The answer of For each statement below,indicate the management tool...

Question 9

The IMA Statement of Ethical Professional Practice includes which of the following components?

Accepted Answer

A) Articles that express members' ethical requirements. 
B) Standards that guide members' conduct. 
C) Both articles that express members' ethical requirements and standards that guide members' conduct. 
D) Neither articles that express members' ethical requirements nor standards that guide members' conduct. 
A) Articles that express members' ethical requirements. 
B) Standards that guide members' conduct. 
C) Both articles that express members' ethical requirements and standards that guide members' conduct. 
D) Neither articles that express members' ethical requirements nor standards that guide members' conduct.

Question 10

The goal of an ERP system is to integrate all data from the company's many business processes into a single information system.

Accepted Answer

A) True 
 B)False

Question 11

The balanced scorecard uses only nonfinancial information such as customer satisfaction or employee turnover to measure performance.

Accepted Answer

A) True 
 B)False

Question 12

Managerial accounting information is provided by which of the following individuals within an organization.

Accepted Answer

A) A controller 
B) A plant accountant 
C) A cost accountant 
D) Any of these individuals can provide managerial accounting information. 
A) A controller 
B) A plant accountant 
C) A cost accountant 
D) Any of these individuals can provide managerial accounting information.

Question 13

Long-term planning is often referred to as strategic planning.

Accepted Answer

A) True 
 B)False

Question 14

Decision makers might have a long list of information they would find helpful,and they are generally not willing to sacrifice accuracy for having the information quickly.

Accepted Answer

A) True 
 B)False

Question 15

Long-term planning is often referred to as

Accepted Answer

A) Strategic planning. 
B) Operational planning. 
C) Goal-oriented planning. 
D) External planning. 
A) Strategic planning. 
B) Operational planning. 
C) Goal-oriented planning. 
D) External planning.

Question 16

Which of the following statements relating to just-in-time inventory is not correct?

Accepted Answer

A) As soon as goods are completed,they are shipped directly to the customer. 
B) Products are generally completed in small batches in response to customer requests. 
C) Just-in-time is beneficial to all companies that will implement it. 
D) No safety stock is kept in the event that some 
A) As soon as goods are completed,they are shipped directly to the customer. 
B) Products are generally completed in small batches in response to customer requests. 
C) Just-in-time is beneficial to all companies that will implement it. 
D) No safety stock is kept in the event that some

Question 17

Which of the following statements related to ethical behavior is not a correct statement?

Accepted Answer

A) The spirit of the law is more important than the letter of the law. 
B) Moral values and codes are more important than rules and policies. 
C) A person is considered to uphold ethical business practices as long as he or she complies with the law. 
D) All of these ans choices are not correct statements. 
A) The spirit of the law is more important than the letter of the law. 
B) Moral values and codes are more important than rules and policies. 
C) A person is considered to uphold ethical business practices as long as he or she complies with the law. 
D) All of these ans choices are not correct statements.

Question 18

Which of the following is not a correct statement?

Accepted Answer

A) Managerial accounting benefits internal users. 
B) Managerial accounting reports must comply with generally accepted accounting principles. 
C) Managerial accounting includes reports and information prepared for a range of decision makers within the organization. 
D) Managerial accounting reports come in a variety of formats. 
A) Managerial accounting benefits internal users. 
B) Managerial accounting reports must comply with generally accepted accounting principles. 
C) Managerial accounting includes reports and information prepared for a range of decision makers within the organization. 
D) Managerial accounting reports come in a variety of formats.

Question 19

Which of the following is not a duty of a management accountant under the IMA Statement of Ethical Professional Practice's confidentiality standard?

Accepted Answer

A) Refrain from engaging in any conduct that would prejudice carrying out duties ethically. 
B) Keep information confidential except when disclosure is authorized or legally required. 
C) Inform all relevant parties regarding appropriate use of confidential information.Monitor subordinates' activities to ensure compliance. 
D) Refrain from using confidential information for unethical or illegal advantage. 
A) Refrain from engaging in any conduct that would prejudice carrying out duties ethically. 
B) Keep information confidential except when disclosure is authorized or legally required. 
C) Inform all relevant parties regarding appropriate use of confidential information.Monitor subordinates' activities to ensure compliance. 
D) Refrain from using confidential information for unethical or illegal advantage.

Question 20

Define managerial accounting and explain how managerial accounting information helps managers do their jobs.

Accepted Answer

Managerial accounting is defined by the

Managerial accounting information provides feedback about how well the organization is implementing its strategy and achieving its goals.

The forefront of managerial activity is

Which of the following is least likely to be in a company's code of ethics?

Which of the following is a not a consequence of unethical behavior?

The four strategies based on a firm's approach to market share growth are build,hold,harvest and divest.

In a survey of global business executives,what percentage did Bain & Company find were using a balanced scorecard?

List three reasons why it is important for a company to have a written code of conduct.

For each statement below,indicate the management tool being implemented.

The IMA Statement of Ethical Professional Practice includes which of the following components?

The goal of an ERP system is to integrate all data from the company's many business processes into a single information system.

The balanced scorecard uses only nonfinancial information such as customer satisfaction or employee turnover to measure performance.

Managerial accounting information is provided by which of the following individuals within an organization.

Long-term planning is often referred to as strategic planning.

Decision makers might have a long list of information they would find helpful,and they are generally not willing to sacrifice accuracy for having the information quickly.

Long-term planning is often referred to as

Which of the following statements relating to just-in-time inventory is not correct?

Which of the following statements related to ethical behavior is not a correct statement?

Which of the following is not a correct statement?

Which of the following is not a duty of a management accountant under the IMA Statement of Ethical Professional Practice's confidentiality standard?

Define managerial accounting and explain how managerial accounting information helps managers do their jobs.

Cost Behavior and Cost Estimation Summary of Questions by Objectives and Blooms Taxonomy

Cost-Volume-Profit Analysis and Pricing Decisions

Product Costs and Job Order Costing

Planning and Forecasting

Performance Evaluation: Variance Analysis

Activity-Based Costing and Activity Based Management

Using Accounting Information to Make Managerial Decisions

Capital Budgeting

Decentralizing and Performance Evaluation

Performance Evaluation Revisited: a Balanced Approach

Financial Statement Analysis

Statement of Cash Flows

Topic Focus: Process Costing

Topic Focus Variable and Absorption Costing

Topic Focus Standard Costing Systems

Topic Focus Customer Profitability

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Exam 1: Accounting As a Tool for Management

Managerial accounting information provides feedback about how well the organization is implementing its strategy and achieving its goals.

The forefront of managerial activity is

Which of the following is least likely to be in a company's code of ethics?

Which of the following is a not a consequence of unethical behavior?

The four strategies based on a firm's approach to market share growth are build,hold,harvest and divest.

In a survey of global business executives,what percentage did Bain & Company find were using a balanced scorecard?

List three reasons why it is important for a company to have a written code of conduct.

For each statement below,indicate the management tool being implemented.

The IMA Statement of Ethical Professional Practice includes which of the following components?

The goal of an ERP system is to integrate all data from the company's many business processes into a single information system.

The balanced scorecard uses only nonfinancial information such as customer satisfaction or employee turnover to measure performance.

Managerial accounting information is provided by which of the following individuals within an organization.

Long-term planning is often referred to as strategic planning.

Decision makers might have a long list of information they would find helpful,and they are generally not willing to sacrifice accuracy for having the information quickly.

Long-term planning is often referred to as

Which of the following statements relating to just-in-time inventory is not correct?

Which of the following statements related to ethical behavior is not a correct statement?

Which of the following is not a correct statement?

Which of the following is not a duty of a management accountant under the IMA Statement of Ethical Professional Practice's confidentiality standard?

Define managerial accounting and explain how managerial accounting information helps managers do their jobs.

Cost Behavior and Cost Estimation Summary of Questions by Objectives and Blooms Taxonomy

Cost-Volume-Profit Analysis and Pricing Decisions

Product Costs and Job Order Costing

Planning and Forecasting

Performance Evaluation: Variance Analysis

Activity-Based Costing and Activity Based Management

Using Accounting Information to Make Managerial Decisions

Capital Budgeting

Decentralizing and Performance Evaluation

Performance Evaluation Revisited: a Balanced Approach

Financial Statement Analysis

Statement of Cash Flows

Topic Focus: Process Costing

Topic Focus Variable and Absorption Costing

Topic Focus Standard Costing Systems

Topic Focus Customer Profitability

Filters