Exam 1: Introduction to Managerial Accounting

The person MOST likely to use ONLY financial accounting information would be the

A company's Board of Directors meets

No ownership interest in an audit client is an example of ________ in the CPA Guidelines for Ethical Behaviour.

Shortened manufacturing cycle times is a feature of Total Quality Management.

Which of the following cost items should be classified as a prevention cost on a cost of quality report?

The cost of supplier evaluation from a supplier would be classified as a(n)

The cost of improved production equipment and production processes is a(n)

Managerial accounting information tends to report on segments of the business.

Employee behaviour is one of the factors that must be considered when designing the managerial accounting control system.

The cost of training quality control supervisors would be classified as a(n)

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

ISO 9001:2008 is a(n)

As part of ________ , each business function examines its own activities and works to improve performance by continually setting higher goals.

SOX requires that the company's financial statements be certified by the company's

Controlling means overseeing the company's day-to-day operations.

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

ISO 9001:2008 is a certification program for companies that adhere to an international set of quality management standards and guidelines.

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

If a company were to increase its appraisal costs by inspecting more units as the units are completed, the company's internal failure costs

The "triple bottom line" includes measuring a corporations results in terms of environmental sustainability, social responsibility, and profit.