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1 | |
Which of the following are included in the day-to-day work of the management team? |
| | A) | Decision making |
| | B) | Planning |
| | C) | Controlling |
| | D) | All of the above |
| | E) | Only A and B |
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2 | |
Managerial accounting activity adds value to an organization by pursuing five major objectives, which include: |
| | A) | providing information for decision making and planning. |
| | B) | assisting managers in directing and controlling operational activities. |
| | C) | measuring the performance of activities within an organization. |
| | D) | providing information for external users of financial reports. |
| | E) | A, B, and C. |
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3 | |
Which of the following might be a performance measure for the financial perspective of a balanced scorecard? |
| | A) | Percentage of market share held by the organization |
| | B) | Return on assets |
| | C) | Percentage of on-time deliveries by the organization |
| | D) | Percentage of product defects |
| | E) | Average time to learn new processes |
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4 | |
The initiative to reduce non-value added activity is meeting which balanced scorecard objective? |
| | A) | Financial perspective |
| | B) | Customer perspective |
| | C) | Internal operations perspective |
| | D) | Learning and growth perspective |
| | E) | A and B |
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5 | |
Which of the following is not true? |
| | A) | Managerial accounting need not conform to GAAP |
| | B) | Financial accounting reports focus on subunits of the organization |
| | C) | Managerial accounting is not required |
| | D) | Financial accounting is required |
| | E) | Managerial accounting focuses on the needs of internal users |
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6 | |
Which of the following is not true? |
| | A) | Managerial accounting requires a separate accounting system |
| | B) | Financial accounting must conform to GAAP |
| | C) | Financial accounting reports are drawn from the basic accounting system |
| | D) | Managerial accounting often focuses on subunits of the organization |
| | E) | Managerial accounting is not regulated |
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7 | |
Which of the following positions is most likely a staff position? |
| | A) | Production manager |
| | B) | Marketing manager |
| | C) | Treasurer |
| | D) | Chief Financial Officer (CFO) |
| | E) | C and D |
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8 | |
Which management position is responsible for raising capital? |
| | A) | Internal auditor |
| | B) | Treasurer |
| | C) | Controller |
| | D) | CFO |
| | E) | External auditor |
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9 | |
Which of the following is NOT true? |
| | A) | Managerial accounting information often serves two functions. |
| | B) | An understanding of human behavior is essential to management accountants. |
| | C) | The cost of gathering information should be less than the benefit derived. |
| | D) | Information can be purchased, produced, and consumed. |
| | E) | It is not possible to provide too much detail. |
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10 | |
Which of the following is NOT true? |
| | A) | Managerial accounting is relatively young discipline. |
| | B) | E-commerce may be defined as buying and selling over digital media. |
| | C) | E-budgeting is now used by hundreds of companies. |
| | D) | E-business is a narrower concept than e-commerce. |
| | E) | Managerial accounting concepts and tools are still evolving. |
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11 | |
Which of the following is true? |
| | A) | Most services are inventoried as they are produced. |
| | B) | Service industries tend not to be labor intensive. |
| | C) | Managerial accounting techniques apply to service industries. |
| | D) | A multinational firm has subunits in only one country. |
| | E) | All the above are true |
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12 | |
Which of the following are true? |
| | A) | Managerial accounting systems can measure various attributes of customer value. |
| | B) | CIM is an acronym for computer-integrated manufacturing. |
| | C) | A cross-functional approach to management is crucial in managing time to market. |
| | D) | The life cycles of most products are becoming shorter. |
| | E) | All of the above are true. |
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13 | |
Which of the following is NOT true? |
| | A) | Just-in-time systems rely on a "pull" approach to controlling manufacturing. |
| | B) | TQM is an acronym for total quality management. |
| | C) | One objective of a cost management system is to identify and eliminate non-value added activities. |
| | D) | ABM is an acronym for activity-based manufacturing. |
| | E) | An ABC system helps management to understand the causal link between activities and cost. |
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14 | |
An organization's set of linked activities, from securing basic raw materials to the ultimate delivery of the product or service is called the organizations: |
| | A) | theory of contstraints. |
| | B) | value chain. |
| | C) | activity-based management of activities. |
| | D) | strategic cost management. |
| | E) | cost management system. |
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15 | |
Which of the following administers the Certified Management Accountant program? |
| | A) | AICPA |
| | B) | IMA |
| | C) | CMA |
| | D) | TQM |
| | E) | None of the above |
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16 | |
Which of the following are ethical standards conduct for managerial accountants? |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Objectivity |
| | E) | All of the above |
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17 | |
Under which ethical standard of conduct does the managerial accountant have the responsibility to prepare complete and clear reports and recommendations after appropriate analyses of relevant and reliable information? |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Objectivity |
| | E) | All of the above |
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18 | |
Under which ethical standard of conduct does the managerial accountant have the responsibility to communicate information fairly and objectively? |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Objectivity |
| | E) | All of the above |
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19 | |
Under which ethical standard of conduct does the managerial accountant have the responsibility to refuse any gift, favor, or hospitality that would influence or appear to influence his or her decision? |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Objectivity |
| | E) | All of the above |
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20 | |
Under which ethical standard of conduct does the managerial accountant have the responsibility to refrain from either actively or passively subverting the attainment of organization's legitimate and ethical objectives? |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Objectivity |
| | E) | All of the above |
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21 | |
Under which ethical standard of conduct does the managerial accountant have the responsibility to refrain from engaging in or supporting any activity that would discredit the profession? |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Objectivity |
| | E) | All of the above |
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22 | |
Under which ethical standard of conduct does the managerial accountant have the responsibility to disclose fully all relevant information that could reasonably be expected to influence an intended user's understanding of the reports, comments, and recommendations presented? |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Objectivity |
| | E) | All of the above |
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2002 McGraw-Hill Higher Education