Question 1

The standards of ethical conduct for management accountants include

Accepted Answer

A)  competence and performance. 
B)  integrity and respect for others. 
C)  confidentiality, confidence, integrity, and observance. 
D)  competence, confidentiality, integrity, and credibility. 
A)  competence and performance. 
B)  integrity and respect for others. 
C)  confidentiality, confidence, integrity, and observance. 
D)  competence, confidentiality, integrity, and credibility.

Question 2

Discuss four factors that are changing the way we manufacture.

Accepted Answer

Technology has fostered computer-integra

Question 3

An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.

Accepted Answer

A) True 
 B)False

Question 4

The role of __________ accountants is to assist and support those responsible for carrying out an organization's basic objectives.

Accepted Answer

The answer of The role of __________ accountants is to...

Question 5

Contrast the role of the financial vice president, the controller, and the treasurer.

Accepted Answer

The financial vice president reports to

Question 6

Improvement in time performance is most likely NOT enhanced by

Accepted Answer

A)  redesign of products. 
B)  adding processes in production. 
C)  eliminating waste. 
D)  eliminating non-value-added activities. 
A)  redesign of products. 
B)  adding processes in production. 
C)  eliminating waste. 
D)  eliminating non-value-added activities.

Question 7

All of the following would be considered staff functions EXCEPT the

Accepted Answer

A)  vice president of finance. 
B)  vice president of corporate planning. 
C)  vice president of marketing. 
D)  vice president of research and development. 
A)  vice president of finance. 
B)  vice president of corporate planning. 
C)  vice president of marketing. 
D)  vice president of research and development.

Question 8

Determining the bid your company should submit on a construction contract is an example of

Accepted Answer

A)  planning. 
B)  control. 
C)  decision making. 
D)  none of the above 
A)  planning. 
B)  control. 
C)  decision making. 
D)  none of the above

Question 9

Which of the following statements is TRUE?

Accepted Answer

A)  The service sector comprises approximately three quarters of the United States' economy and employment. 
B)  The service sector comprises approximately 20 percent of the United States' economy and employment. 
C)  Traditional smokestack industries have increased in importance in recent years. 
D)  The service sector has decreased in importance in recent years. 
A)  The service sector comprises approximately three quarters of the United States' economy and employment. 
B)  The service sector comprises approximately 20 percent of the United States' economy and employment. 
C)  Traditional smokestack industries have increased in importance in recent years. 
D)  The service sector has decreased in importance in recent years.

Question 10

Explain the relationship between the Cost Management System and the Financial Accounting System.

Accepted Answer

The cost management system is concerned

Question 11

Discuss the three forms of accounting certification. Which form of certification do you believe is best for management accountants? Why?

Accepted Answer

The three forms of certification are the

Question 12

Which of the following activities is associated with the cost management information system?

Accepted Answer

A)  preparing reports for division managers 
B)  preparing reports for the IRS 
C)  preparing reports for the SEC 
D)  preparing financial statements that conform to GAAP 
A)  preparing reports for division managers 
B)  preparing reports for the IRS 
C)  preparing reports for the SEC 
D)  preparing financial statements that conform to GAAP

Question 13

The Standards of Ethical Professional Practice of the Institute of Management Accountants addresses all of the following EXCEPT

Accepted Answer

A)  competence 
B)  confidentiality 
C)  strategic cost management 
D)  integrity 
A)  competence 
B)  confidentiality 
C)  strategic cost management 
D)  integrity

Question 14

What is customer orientation? Why is it important in a global environment? What role does cost management play in serving customers?

Accepted Answer

Organizations are concerned with the imp

Question 15

Principles of personal ethical behavior include

Accepted Answer

A)  integrity. 
B)  respect for others. 
C)  fairness. 
D)  all of these. 
A)  integrity. 
B)  respect for others. 
C)  fairness. 
D)  all of these.

Question 16

Which of the following activities is NOT associated with the cost management information system?

Accepted Answer

A)  preparing a cost of quality report 
B)  preparing a performance report that compares actual costs to budgeted costs 
C)  determining the cost of a customer 
D)  using future expected earnings to estimate the price of a share of common stock 
A)  preparing a cost of quality report 
B)  preparing a performance report that compares actual costs to budgeted costs 
C)  determining the cost of a customer 
D)  using future expected earnings to estimate the price of a share of common stock

Question 17

Disclosing all information, unfavorable as well as favorable, that could influence an intended user's understanding of reports, would relate to what section of the IMA Code of Conduct?

Accepted Answer

A)  competence 
B)  independence 
C)  integrity 
D)  credibility 
A)  competence 
B)  independence 
C)  integrity 
D)  credibility

Question 18

Business ethics is learning what is right or wrong in the work environment and choosing what is right.

Accepted Answer

A) True 
 B)False

Question 19

The operational control system is concerned with

Accepted Answer

A)  investment decisions. 
B)  what activities should be performed and assessing how well they are performed. 
C)  consumption of productive resources by individual products. 
D)  none of these. 
A)  investment decisions. 
B)  what activities should be performed and assessing how well they are performed. 
C)  consumption of productive resources by individual products. 
D)  none of these.

Question 20

The cost management information system is primarily concerned with producing outputs for external users.

Accepted Answer

A) True 
 B)False

The standards of ethical conduct for management accountants include

Discuss four factors that are changing the way we manufacture.

An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.

The role of __________ accountants is to assist and support those responsible for carrying out an organization's basic objectives.

Contrast the role of the financial vice president, the controller, and the treasurer.

Improvement in time performance is most likely NOT enhanced by

All of the following would be considered staff functions EXCEPT the

Determining the bid your company should submit on a construction contract is an example of

Which of the following statements is TRUE?

Explain the relationship between the Cost Management System and the Financial Accounting System.

Discuss the three forms of accounting certification. Which form of certification do you believe is best for management accountants? Why?

Which of the following activities is associated with the cost management information system?

The Standards of Ethical Professional Practice of the Institute of Management Accountants addresses all of the following EXCEPT

What is customer orientation? Why is it important in a global environment? What role does cost management play in serving customers?

Principles of personal ethical behavior include

Which of the following activities is NOT associated with the cost management information system?

Disclosing all information, unfavorable as well as favorable, that could influence an intended user's understanding of reports, would relate to what section of the IMA Code of Conduct?

Business ethics is learning what is right or wrong in the work environment and choosing what is right.

The operational control system is concerned with

The cost management information system is primarily concerned with producing outputs for external users.

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control Key

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

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Exam 1: Introduction to Cost Management

The standards of ethical conduct for management accountants include

Discuss four factors that are changing the way we manufacture.

An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.

The role of __________ accountants is to assist and support those responsible for carrying out an organization's basic objectives.

Contrast the role of the financial vice president, the controller, and the treasurer.

Improvement in time performance is most likely NOT enhanced by

All of the following would be considered staff functions EXCEPT the

Determining the bid your company should submit on a construction contract is an example of

Which of the following statements is TRUE?

Explain the relationship between the Cost Management System and the Financial Accounting System.

Discuss the three forms of accounting certification. Which form of certification do you believe is best for management accountants? Why?

Which of the following activities is associated with the cost management information system?

The Standards of Ethical Professional Practice of the Institute of Management Accountants addresses all of the following EXCEPT

What is customer orientation? Why is it important in a global environment? What role does cost management play in serving customers?

Principles of personal ethical behavior include

Which of the following activities is NOT associated with the cost management information system?

Disclosing all information, unfavorable as well as favorable, that could influence an intended user's understanding of reports, would relate to what section of the IMA Code of Conduct?

Business ethics is learning what is right or wrong in the work environment and choosing what is right.

The operational control system is concerned with

The cost management information system is primarily concerned with producing outputs for external users.

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control Key

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters