Question 1

Good managerial accounting information helps

Accepted Answer

A) Creditors decide on good credit risks. 
B) Managers to do their jobs. 
C) Stockholders make informed investment decisions. 
D) All of these ans choices are correct. 
A) Creditors decide on good credit risks. 
B) Managers to do their jobs. 
C) Stockholders make informed investment decisions. 
D) All of these ans choices are correct.

Question 2

Just-in-time implementations are simple and take little or no effort to implement and will work for most companies.

Accepted Answer

A) True 
 B)False

Question 3

A tool that managerial accountants have developed to assist in monitoring organizational performance is the balanced scorecard.

Accepted Answer

A) True 
 B)False

Question 4

If a company follows a strategy of product differentiation,it will seek ways to set it products apart in terms of

Accepted Answer

A) Quality,design or service 
B) Price,demand or service 
C) Design,price or popularity 
D) Quality,demand or life cycle 
A) Quality,design or service 
B) Price,demand or service 
C) Design,price or popularity 
D) Quality,demand or life cycle

Question 5

The Institute of Management Accountants IMA and many other professional organizations have a code of conduct to direct the membership's ethical behavior.Discuss the standards that guide the conduct of members of the IMA.

Accepted Answer

Competence
Maintain an appropriate level

Question 6

Indicate which of the following users are classified as internal versus external users.

Accepted Answer

a Internal
b Externa

Question 7

Two ways to develop a competitive advantage is through product differentiation and low-cost production.List three examples of managerial accounting information a company might need to monitor each of these strategies.

Accepted Answer

Answers will vary.Co

Question 8

Most managerial decisions are made at which of the following levels?

Accepted Answer

A) Organization-level 
B) Operating-segment level 
C) Managerial accounting level 
D) Presidential level 
A) Organization-level 
B) Operating-segment level 
C) Managerial accounting level 
D) Presidential level

Question 9

All public companies that are traded on a stock exchange and governed by the Securities and Exchange Commission must prepare financial statements following

Accepted Answer

A) Accounting principles set by the Federal Trade Commission. 
B) Generally accepted accounting principles. 
C) Generally appropriate accounting standards. 
D) Standards set by the Accounting Principles Board. 
A) Accounting principles set by the Federal Trade Commission. 
B) Generally accepted accounting principles. 
C) Generally appropriate accounting standards. 
D) Standards set by the Accounting Principles Board.

Question 10

Which of the following is an example of an enterprise resource planning ERP system?

Accepted Answer

A) SAP 
B) Oracle 
C) Both SAP and Oracle 
D) Neither SAP nor Oracle 
A) SAP 
B) Oracle 
C) Both SAP and Oracle 
D) Neither SAP nor Oracle

Question 11

Managerial accounting reports

Accepted Answer

A) Use historical information. 
B) Compare actual results to budged results. 
C) Project the results of certain decisions. 
D) All of these ans choices are correct. 
A) Use historical information. 
B) Compare actual results to budged results. 
C) Project the results of certain decisions. 
D) All of these ans choices are correct.

Question 12

Ethical behavior is knowing right from wrong and conducting yourself accordingly,so that your decisions are consistent with your own value system and the values of those affected by your decisions.

Accepted Answer

A) True 
 B)False

Question 13

Just-in-time inventory management is an inventory strategy that focuses on reducing waste and inefficiency by ordering inventory items so that they arrive just when they are needed.

Accepted Answer

A) True 
 B)False

Question 14

The supply chain's goal is to reduce or eliminate defects.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) Maintain an appropriate level of professional expertise by continually developing knowledge and skills. 
B) Provide decision support information and recommendations that are accurate,clear,concise and timely. 
C) Mitigate actual conflicts of interest.Regularly communicate with business associates to avoid apparent conflicts of interest.Advise all parties of any potential conflicts. 
D) Perform professional duties in accordance with relevant laws,regulations,and technical standards. 
A) Maintain an appropriate level of professional expertise by continually developing knowledge and skills. 
B) Provide decision support information and recommendations that are accurate,clear,concise and timely. 
C) Mitigate actual conflicts of interest.Regularly communicate with business associates to avoid apparent conflicts of interest.Advise all parties of any potential conflicts. 
D) Perform professional duties in accordance with relevant laws,regulations,and technical standards.

Question 16

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

Accepted Answer

A) Overarching principles that express members' values. 
B) Interpretations of principles. 
C) Both overarching principles that express members' values and interpretations of principles. 
D) Neither overarching principles that express members' values nor interpretations of principles. 
A) Overarching principles that express members' values. 
B) Interpretations of principles. 
C) Both overarching principles that express members' values and interpretations of principles. 
D) Neither overarching principles that express members' values nor interpretations of principles.

Question 17

Which of the following might be measures of performance for a balanced scorecard?

Accepted Answer

A) Stock price 
B) Sales revenue 
C) Customer satisfaction 
D) All of these ans choices are correct 
A) Stock price 
B) Sales revenue 
C) Customer satisfaction 
D) All of these ans choices are correct

Question 18

A key component of a positive ethical environment is

Accepted Answer

A) Legal requirements. 
B) Regulatory requirements. 
C) Industry requirement. 
D) Tone at the top,or management's commitment to ethical behavior. 
A) Legal requirements. 
B) Regulatory requirements. 
C) Industry requirement. 
D) Tone at the top,or management's commitment to ethical behavior.

Question 19

Under the Sarbanes-Oxley Act,which of the following related to the corporate code of ethics is not required?

Accepted Answer

A) Must be published in the annual report or on the corporate website or provided at no charge upon request. 
B) Must disclose the likelihood of a breach of the code based on the industry and structure of the corporation. 
C) Must disclose all instances in which these codes have been waived for a particular individual. 
D) Must disclose all changes to the code. 
A) Must be published in the annual report or on the corporate website or provided at no charge upon request. 
B) Must disclose the likelihood of a breach of the code based on the industry and structure of the corporation. 
C) Must disclose all instances in which these codes have been waived for a particular individual. 
D) Must disclose all changes to the code.

Question 20

Which of the following are strategies based on a firm's approach to market share growth?

Accepted Answer

A) Handle,Hermetic,Hold,or Harvest 
B) Build,Hold,Harvest,or Divest 
C) Handle,Expand,Low-Cost,or Divest 
D) Build,Expand,Hold,or Divest 
A) Handle,Hermetic,Hold,or Harvest 
B) Build,Hold,Harvest,or Divest 
C) Handle,Expand,Low-Cost,or Divest 
D) Build,Expand,Hold,or Divest

Good managerial accounting information helps

Just-in-time implementations are simple and take little or no effort to implement and will work for most companies.

A tool that managerial accountants have developed to assist in monitoring organizational performance is the balanced scorecard.

If a company follows a strategy of product differentiation,it will seek ways to set it products apart in terms of

The Institute of Management Accountants IMA and many other professional organizations have a code of conduct to direct the membership's ethical behavior.Discuss the standards that guide the conduct of members of the IMA.

Indicate which of the following users are classified as internal versus external users.

Two ways to develop a competitive advantage is through product differentiation and low-cost production.List three examples of managerial accounting information a company might need to monitor each of these strategies.

Most managerial decisions are made at which of the following levels?

All public companies that are traded on a stock exchange and governed by the Securities and Exchange Commission must prepare financial statements following

Which of the following is an example of an enterprise resource planning ERP system?

Managerial accounting reports

Ethical behavior is knowing right from wrong and conducting yourself accordingly,so that your decisions are consistent with your own value system and the values of those affected by your decisions.

Just-in-time inventory management is an inventory strategy that focuses on reducing waste and inefficiency by ordering inventory items so that they arrive just when they are needed.

The supply chain's goal is to reduce or eliminate defects.

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

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

Which of the following might be measures of performance for a balanced scorecard?

A key component of a positive ethical environment is

Under the Sarbanes-Oxley Act,which of the following related to the corporate code of ethics is not required?

Which of the following are strategies based on a firm's approach to market share growth?

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

Exam 1: Accounting As a Tool for Management

Good managerial accounting information helps

Just-in-time implementations are simple and take little or no effort to implement and will work for most companies.

A tool that managerial accountants have developed to assist in monitoring organizational performance is the balanced scorecard.

If a company follows a strategy of product differentiation,it will seek ways to set it products apart in terms of

The Institute of Management Accountants IMA and many other professional organizations have a code of conduct to direct the membership's ethical behavior.Discuss the standards that guide the conduct of members of the IMA.

Indicate which of the following users are classified as internal versus external users.

Two ways to develop a competitive advantage is through product differentiation and low-cost production.List three examples of managerial accounting information a company might need to monitor each of these strategies.

Most managerial decisions are made at which of the following levels?

All public companies that are traded on a stock exchange and governed by the Securities and Exchange Commission must prepare financial statements following

Which of the following is an example of an enterprise resource planning ERP system?

Managerial accounting reports

Ethical behavior is knowing right from wrong and conducting yourself accordingly,so that your decisions are consistent with your own value system and the values of those affected by your decisions.

Just-in-time inventory management is an inventory strategy that focuses on reducing waste and inefficiency by ordering inventory items so that they arrive just when they are needed.

The supply chain's goal is to reduce or eliminate defects.

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

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

Which of the following might be measures of performance for a balanced scorecard?

A key component of a positive ethical environment is

Under the Sarbanes-Oxley Act,which of the following related to the corporate code of ethics is not required?

Which of the following are strategies based on a firm's approach to market share growth?

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