Question 1

An example of an external user is a

Accepted Answer

A) managerial accountant. 
B) Vice-President of Marketing. 
C) potential Investor. 
D) Payroll Manager. 
A) managerial accountant. 
B) Vice-President of Marketing. 
C) potential Investor. 
D) Payroll Manager.

Question 2

What are the requirements Section 406 of the Sarbanes-Oxley Act regarding publicly traded company's code of conduct?

Accepted Answer

a.Companies must disclose whether the "p

Question 3

If a company chooses a low-cost production strategy,the company will set itself apart from competitors in terms of

Accepted Answer

A) quality. 
B) lower selling price. 
C) demand. 
D) high-cost design. 
A) quality. 
B) lower selling price. 
C) demand. 
D) high-cost design.

Question 4

Ethical business behavior is compliance with the law.

Accepted Answer

A) True 
 B)False

Question 5

Managerial accounting is designed to assist managers with four general activities: planning,controlling,evaluating,and decision making.

Accepted Answer

A) True 
 B)False

Question 6

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 7

According to a 2011 National Business Ethics Survey,what percentage of employers had a written code of conduct?

Accepted Answer

A) 26%,up from 17% in 1994 
B) 47%,up from 35% in 1994 
C) 67%,up from 47% in 1994 
D) 82%,up from 67% in 1994 
A) 26%,up from 17% in 1994 
B) 47%,up from 35% in 1994 
C) 67%,up from 47% in 1994 
D) 82%,up from 67% in 1994

Question 8

Lilly Grant owns an ice cream shop in Marigold,MS.Identify each of the following actions she performs as a planning,controlling,evaluating or decision making activity:

Accepted Answer

The answer of Lilly Grant owns an ice cream shop...

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

Managerial accounting information is not just for accountants.All areas within an organization can use the information to support decision making.For the following positions,list three decisions the manager might have to make and give an example of a report that would help the manager in the decision making process.
a.Plant manager
b.Vice-President of sales
c.Inventory supervisor
Unit 1-1 -

Accepted Answer

Answers will vary.Common examples may in

Question 11

Kristin West owns an car wash in Clinton,MS.Identify each of the following actions she performs as a planning,controlling,evaluating or decision making activity:

Accepted Answer

The answer of Kristin West owns an car wash in...

Question 12

Managerial accounting reports historical information often with the purpose of

Accepted Answer

A) comparing actual results to budgeted results. 
B) helping managers to make decisions that will affect the company's future by projecting the results of certain decisions. 
C) both comparing actual results to budgeted results and helping managers to make decisions that will affect the company's future by projecting the results of certain decisions. 
D) neither comparing actual results to budgeted results nor helping managers to make decisions that will affect the company's future by projecting the results of certain decisions. 
A) comparing actual results to budgeted results. 
B) helping managers to make decisions that will affect the company's future by projecting the results of certain decisions. 
C) both comparing actual results to budgeted results and helping managers to make decisions that will affect the company's future by projecting the results of certain decisions. 
D) neither comparing actual results to budgeted results nor helping managers to make decisions that will affect the company's future by projecting the results of certain decisions.

Question 13

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 14

All other things held equal

Accepted Answer

A) the more frequent the controlling activity,the slower an out-of-control process will be corrected. 
B) the more frequent the controlling activity,the faster an out-of-control process can be corrected. 
C) the more frequent the controlling activity,the more likely employees are to ignore the control. 
D) the more frequent the controlling activity,the less likely employees are to ignore the control. 
A) the more frequent the controlling activity,the slower an out-of-control process will be corrected. 
B) the more frequent the controlling activity,the faster an out-of-control process can be corrected. 
C) the more frequent the controlling activity,the more likely employees are to ignore the control. 
D) the more frequent the controlling activity,the less likely employees are to ignore the control.

Question 15

Management accounting is the generation of relevant information and analysis provided to external users.

Accepted Answer

A) True 
 B)False

Question 16

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 17

Which of the following is not an input into the monitoring activities relating to production?

Accepted Answer

A) Actual production rate and output 
B) Checking output against the planned inventory level 
C) Anticipated manufacturing capacity 
D) Both actual production rate and output and checking output against the planned inventory level 
A) Actual production rate and output 
B) Checking output against the planned inventory level 
C) Anticipated manufacturing capacity 
D) Both actual production rate and output and checking output against the planned inventory level

Question 18

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 19

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 20

The Sarbanes-Oxley Act requires that all publicly traded companies disclose whether certain executives are subject to a corporate code of ethics.Which of the following executive position need not be disclosed?

Accepted Answer

A) Principal executive officer 
B) Principal marketing officer 
C) Principal financial officer 
D) Principal accounting officer 
A) Principal executive officer 
B) Principal marketing officer 
C) Principal financial officer 
D) Principal accounting officer

An example of an external user is a

What are the requirements Section 406 of the Sarbanes-Oxley Act regarding publicly traded company's code of conduct?

If a company chooses a low-cost production strategy,the company will set itself apart from competitors in terms of

Ethical business behavior is compliance with the law.

Managerial accounting is designed to assist managers with four general activities: planning,controlling,evaluating,and decision making.

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

According to a 2011 National Business Ethics Survey,what percentage of employers had a written code of conduct?

Lilly Grant owns an ice cream shop in Marigold,MS.Identify each of the following actions she performs as a planning,controlling,evaluating or decision making activity:

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

Kristin West owns an car wash in Clinton,MS.Identify each of the following actions she performs as a planning,controlling,evaluating or decision making activity:

Managerial accounting reports historical information often with the purpose of

A key component of a positive ethical environment is

All other things held equal

Management accounting is the generation of relevant information and analysis provided to external users.

Which of the following is not a correct statement?

Which of the following is not an input into the monitoring activities relating to production?

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

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

The Sarbanes-Oxley Act requires that all publicly traded companies disclose whether certain executives are subject to a corporate code of ethics.Which of the following executive position need not be disclosed?

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

Exam 1: Accounting As a Tool for Management

An example of an external user is a

What are the requirements Section 406 of the Sarbanes-Oxley Act regarding publicly traded company's code of conduct?

If a company chooses a low-cost production strategy,the company will set itself apart from competitors in terms of

Ethical business behavior is compliance with the law.

Managerial accounting is designed to assist managers with four general activities: planning,controlling,evaluating,and decision making.

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

According to a 2011 National Business Ethics Survey,what percentage of employers had a written code of conduct?

Lilly Grant owns an ice cream shop in Marigold,MS.Identify each of the following actions she performs as a planning,controlling,evaluating or decision making activity:

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

Kristin West owns an car wash in Clinton,MS.Identify each of the following actions she performs as a planning,controlling,evaluating or decision making activity:

Managerial accounting reports historical information often with the purpose of

A key component of a positive ethical environment is

All other things held equal

Management accounting is the generation of relevant information and analysis provided to external users.

Which of the following is not a correct statement?

Which of the following is not an input into the monitoring activities relating to production?

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

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

The Sarbanes-Oxley Act requires that all publicly traded companies disclose whether certain executives are subject to a corporate code of ethics.Which of the following executive position need not be disclosed?

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