Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Which of the following are included in the standards of ethical conduct for management accountants?

Accepted Answer

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

Question 3

The controller is the Chief Executive Officer of a company.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A)  delegating 
B)  controlling 
C)  decision making 
D)  planning

Question 5

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

Accepted Answer

A)  planning 
B)  controlling 
C)  decision making 
D)  delegating

Exam 1: Introduction to Managerial Accounting

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

Which of the following are included in the standards of ethical conduct for management accountants?

The controller is the Chief Executive Officer of a company.

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

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