Question 1

Under the Sarbanes-Oxley Act,which of the following is a requirement of the corporate code of ethics?

Accepted Answer

A) Cannot be published in the annual report or on the corporate website,or provided at no charge upon request 
B) Must disclose few,specific instances in which these codes have been waived for a particular individual 
C) Must disclose some changes to the code 
D) Must disclose all changes to the code 
A) Cannot be published in the annual report or on the corporate website,or provided at no charge upon request 
B) Must disclose few,specific instances in which these codes have been waived for a particular individual 
C) Must disclose some changes to the code 
D) Must disclose all changes to the code

Question 2

When a company approaches market share growth under a hold strategy,

Accepted Answer

A) the company aims to hold its market share in the industry,even at the expense of short-term earnings and cash flow. 
B) the company seeks to maintain its current market share and generate a reasonable return on investment. 
C) the company seeks market share growth by purchasing companies exiting the market. 
D) the company focuses on short-term profits and cash. 
A) the company aims to hold its market share in the industry,even at the expense of short-term earnings and cash flow. 
B) the company seeks to maintain its current market share and generate a reasonable return on investment. 
C) the company seeks market share growth by purchasing companies exiting the market. 
D) the company focuses on short-term profits and cash.

Question 3

A divest strategy is appropriate when a company desires to enter a particular market.

Accepted Answer

A) True 
 B)False

Question 4

A company that focuses on product differentiation does not need to monitor product costs because if the quality is sufficient customers will pay the price.

Accepted Answer

A) True 
 B)False

Question 5

Assume your roommate is a management major and must take this course next semester.You have explained some of the things you have learned thus far,but your roommate states,"I don't know why I would need to know anything about managerial accounting! I am not an accounting major and will NEVER be preparing any managerial accounting reports.As long as I make a profit for the company I will work for,who cares what the accountants' reports say?" How would you respond?

Accepted Answer

Managerial accounting helps managers in

Question 6

Since internal users have access to all the underlying data used for managerial accounting reports

Accepted Answer

A) they can create reports that suit their particular decision making needs. 
B) there is no need to use financial data in making decisions. 
C) both they can create reports that suit their particular decision making needs and there is no need to use financial data in making decisions. 
D) neither they can create reports that suit their particular decision making needs nor there is no need to use financial data in making decisions. 
A) they can create reports that suit their particular decision making needs. 
B) there is no need to use financial data in making decisions. 
C) both they can create reports that suit their particular decision making needs and there is no need to use financial data in making decisions. 
D) neither they can create reports that suit their particular decision making needs nor there is no need to use financial data in making decisions.

Question 7

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

Accepted Answer

A) Overarching principles that express members' values 
B) Standards that guide members' conduct 
C) Both overarching principles that express members' values and standards that guide members' conduct 
D) Neither overarching principles that express members' values nor standards that guide members' conduct 
A) Overarching principles that express members' values 
B) Standards that guide members' conduct 
C) Both overarching principles that express members' values and standards that guide members' conduct 
D) Neither overarching principles that express members' values nor standards that guide members' conduct

Question 8

Managers perform controlling activities

Accepted Answer

A) in real time as operations are occurring. 
B) with a frequency such as once a day or once an hour. 
C) both in real time as operations are occurring and with a frequency such as once a day or once an hour. 
D) neither in real time as operations are occurring nor a frequency such as once a day or once an hour. 
A) in real time as operations are occurring. 
B) with a frequency such as once a day or once an hour. 
C) both in real time as operations are occurring and with a frequency such as once a day or once an hour. 
D) neither in real time as operations are occurring nor a frequency such as once a day or once an hour.

Question 9

Managerial accounting is designed to assist managers with which of the following activities?

Accepted Answer

A) Planning 
B) Leading 
C) Evaluating 
D) Planning,controlling,and evaluating 
A) Planning 
B) Leading 
C) Evaluating 
D) Planning,controlling,and evaluating

Question 10

Without affecting their ability to meet customer demand,some companies have found they can reduce inventory levels by using a just-in-time system as much as

Accepted Answer

A) 5% to 10%. 
B) 20% to 25%. 
C) 35% to 40%. 
D) 50% to 60%. 
A) 5% to 10%. 
B) 20% to 25%. 
C) 35% to 40%. 
D) 50% to 60%.

Question 11

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) It can lead to exceptional financial performance 
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) It can lead to exceptional financial performance

Question 12

One of the planning activities that occupies managers is inventory planning.Which of the following is not an input into this planning process?

Accepted Answer

A) Projected sales forecasts 
B) Variance analysis of actual versus budgeted inventory 
C) Projected supply and prices 
D) Anticipated manufacturing capacity 
A) Projected sales forecasts 
B) Variance analysis of actual versus budgeted inventory 
C) Projected supply and prices 
D) Anticipated manufacturing capacity

Question 13

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 14

Indicate which of the following statements relate to financial accounting versus managerial accounting.

Accepted Answer

The answer of Indicate which of the following statements relate...

Question 15

The task of assessing how well employees have performed relative to expectations is a controlling activity.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is not a tool for monitoring strategic performance?

Accepted Answer

A) The balanced scorecard 
B) Code of conduct 
C) Supply chain management 
D) Enterprise Resource Planning ERP systems 
A) The balanced scorecard 
B) Code of conduct 
C) Supply chain management 
D) Enterprise Resource Planning ERP systems

Question 17

When a company approaches market share growth under a build strategy,

Accepted Answer

A) the company aims to increase its market share in the industry,even at the expense of short-term earnings and cash flow. 
B) the company seeks to maintain its current market share but build its return on investment. 
C) the company seeks market share growth by purchasing companies exiting the market. 
D) the company focuses on short-term profits and cash. 
A) the company aims to increase its market share in the industry,even at the expense of short-term earnings and cash flow. 
B) the company seeks to maintain its current market share but build its return on investment. 
C) the company seeks market share growth by purchasing companies exiting the market. 
D) the company focuses on short-term profits and cash.

Question 18

Managerial accounting reports

Accepted Answer

A) use historical information. 
B) compare actual results to budged results. 
C) project the results of certain decisions. 
D) use historical information,compare actual results to budgeted results,and project the results of certain decisions. 
A) use historical information. 
B) compare actual results to budged results. 
C) project the results of certain decisions. 
D) use historical information,compare actual results to budgeted results,and project the results of certain decisions.

Question 19

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 20

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

Accepted Answer

a Internal b Externa

Under the Sarbanes-Oxley Act,which of the following is a requirement of the corporate code of ethics?

When a company approaches market share growth under a hold strategy,

A divest strategy is appropriate when a company desires to enter a particular market.

A company that focuses on product differentiation does not need to monitor product costs because if the quality is sufficient customers will pay the price.

Since internal users have access to all the underlying data used for managerial accounting reports

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

Managers perform controlling activities

Managerial accounting is designed to assist managers with which of the following activities?

Without affecting their ability to meet customer demand,some companies have found they can reduce inventory levels by using a just-in-time system as much as

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

One of the planning activities that occupies managers is inventory planning.Which of the following is not an input into this planning process?

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

Indicate which of the following statements relate to financial accounting versus managerial accounting.

The task of assessing how well employees have performed relative to expectations is a controlling activity.

Which of the following is not a tool for monitoring strategic performance?

When a company approaches market share growth under a build strategy,

Managerial accounting reports

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

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

Cost Behavior and Cost Estimation

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

Under the Sarbanes-Oxley Act,which of the following is a requirement of the corporate code of ethics?

When a company approaches market share growth under a hold strategy,

A divest strategy is appropriate when a company desires to enter a particular market.

A company that focuses on product differentiation does not need to monitor product costs because if the quality is sufficient customers will pay the price.

Since internal users have access to all the underlying data used for managerial accounting reports

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

Managers perform controlling activities

Managerial accounting is designed to assist managers with which of the following activities?

Without affecting their ability to meet customer demand,some companies have found they can reduce inventory levels by using a just-in-time system as much as

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

One of the planning activities that occupies managers is inventory planning.Which of the following is not an input into this planning process?

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

Indicate which of the following statements relate to financial accounting versus managerial accounting.

The task of assessing how well employees have performed relative to expectations is a controlling activity.

Which of the following is not a tool for monitoring strategic performance?

When a company approaches market share growth under a build strategy,

Managerial accounting reports

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

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

Cost Behavior and Cost Estimation

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