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| 1 | |
When designing and implementing management accounting systems, we need to consider: |
| | A) | developing and implementing new marketing channels |
| | B) | the management accountant's membership of professional accounting organisations |
| | C) | innovation, employee welfare and community service |
| | D) | the ways in which information impacts on individual behaviour to affect the activities and decisions occurring within the organisation |
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| 2 | |
Management accounting supports managers in their tasks of enhancing: |
| | A) | customer value |
| | B) | shareholder value |
| | C) | internal value |
| | D) | customer and shareholder value |
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| 3 | |
Which of the following involves the implementation of mechanisms to ensure that operations proceed according to plan and that objectives are achieved? |
| | A) | Decision making. |
| | B) | Planning. |
| | C) | Formulating business strategy. |
| | D) | Controlling. |
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| 4 | |
A business strategy where a firm is a low-cost producer that allows the business to sell its goods or services at a lower price than competitors is: |
| | A) | product differentiation |
| | B) | cost leadership |
| | C) | corporate strategy |
| | D) | cost maximisation |
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| 5 | |
A business strategy where a firm derives competitive advantage from offering goods and services that have characteristics superior to those offered by competitors is: |
| | A) | product differentiation |
| | B) | cost leadership |
| | C) | corporate strategy |
| | D) | cost maximisation |
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| 6 | |
Michael Porter of Harvard University suggests that sustainable competitive advantage can be attained through: |
| | A) | adopting a customer and shareholder value strategy |
| | B) | adopting a business strategy of profit maximisation |
| | C) | adopting a business strategy of cost leadership or product differentiation |
| | D) | adopting a business strategy of cost maximisation |
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| 7 | |
Management accounting is: |
| | A) | concerned with providing information to current and prospective shareholders, lenders, investment analysts, unions, consumer groups and government agencies |
| | B) | based on past information that emphasises objectivity and verifiability |
| | C) | constrained by accounting standards or regulations |
| | D) | not constrained by accounting standards or regulations |
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| 8 | |
Both financial and management accounting: |
| | A) | are historical, current and future oriented |
| | B) | are used by creditors, shareholders and the stock exchange |
| | C) | comply with Australian accounting standards |
| | D) | draw data from the organisation's transaction-based accounting system |
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| 9 | |
A vision: |
| | A) | is the desired future state or aspiration of an organisation |
| | B) | is a specific statement of what the organisation aims to achieve, often quantified and relating to a specific period of time |
| | C) | defines the purpose and boundaries of the organisation |
| | D) | is concerned with the way the business competes in its chosen market |
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| 10 | |
Objectives (or goals): |
| | A) | describe the desired future state or aspiration of an organisation |
| | B) | are specific statements of what the organisation aims to achieve, often quantified and relating to a specific period of time |
| | C) | define the purpose and boundaries of the organisation |
| | D) | are concerned with the way the business competes in its chosen market |
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