Exam 1: Introduction to Managerial Accounting

Select the appropriate definition for each of the items listed below. -The individual responsible for the finance function; raises capital and manages cash and investments

CMA,CGA and CA organizations have recently have been brought together under a new professional body called CPA Canada.

Investigating production variances and adjusting the production process is an example of which of the following?

Developing a company strategy for responding to anticipated new markets is an example of which of the following?

Select the appropriate definition for each of the items listed below. -Historically confers the Chartered Accountant (CA)designation

Select the appropriate definition for each of the items listed below. -The provision of accounting information for a company's internal users

Select the appropriate definition for each of the items listed below. -A crucial element in all phases of the value chain

Only financial accounting is governed by IASB.

What are the establishing objectives to include social and environmental impact called?

What is the primary objective of management accounting?

Select the appropriate definition for each of the items listed below. -The set of activities required to design,develop,produce,market,and deliver products and services to customers

With which of the following do virtually all managerial accounting practices assist managers?

What is a primary activity in the value chain?

Select the appropriate definition for each of the items listed below. -A certified accountant who is permitted (by law)to serve as an external auditor

Select the appropriate definition for each of the items listed below. -Choosing actions that are right,proper,and just

Which of the following employees would normally occupy a staff position?

Virtually all management accounting practices were developed to assist managers in maximizing profits.

Select the appropriate definition for each of the items listed below. -A management philosophy in which manufacturers strive to create an environment that will enable workers to manufacture perfect (zero-defect)products

The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as decision making.

Select the appropriate definition for each of the items listed below. -The process of choosing among competing alternatives