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Introductory Multiple Choice Quiz
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1
Financial Accounts are not provided for which of the following?
(Learning Objective 2 Ch 1)
A)Shareholders
B)Debenture Holders
C)Company Management
D)Analysts
2
Managers need information from the management accounting system because? (Tick the one untrue answer)
(Learning Objective 1 Ch 1)
A)They cannot get this from the financial accounts
B)The financial accounts are not detailed enough
C)The financial accounts are prepared too late
D)The financial accounts are prepared for each part of the organisation and the management accounts are prepared for the whole organisation.
3
A management accountant in a decentralised organisation…. (Tick the one true answer)
(Learning Objective 3 Ch 1)
A)Needs less information than one in a centralised organisation
B)Is given more responsibility
C)Needs the same reporting information system as one in a centralised organisation
D)Gets paid less money than one in a centralised organisation
4
Which of the following is not a recent development that has affected management accounting?
(Learning Objective 4 Ch 1)
A)DUCK
B)TQM
C)JIT
D)TOQ
5
International Financial Reporting Standards are set by the ...
(Learning Objective 4 Ch 1)
A)IASB
B)IBSA
C)IFRB
D)None of the above
6
Which of the following is not a feature of management accounting?
(Learning Objective 1 Ch 1)
A)It has an emphasis on decisions affecting the future
B)It must be useful to those within the organisation
C)It is not mandatory
D)It must follow IFRS
7
The business environment in recent years has been characterised by increasing competition and a relentless drive for continuous improvement. Several approaches have been developed to assist organisations in meeting these challenges. Which of the following is not such an improvement programme?
(Learning Objective 6 Ch 1)
A)just-in-time (JIT)
B)right-time-management (RTM)
C)total quality management (TQM)
D)theory of constraints (TOC)
8
The purpose of an organisational chart is to:
(Learning Objective 3 Ch 1)
A)show how responsibility has been divided among managers
B)show informal and formal lines of reporting
C)show informal and formal lines of communication
D)none of these
9
ERP stands for
(Learning Objective 5 Ch 1)
A)Electronic Reporting Processes
B)Essential Resource Planning
C)European Reporting Practice
D)Enterprise Resource Planning
10
Without widespread adherence to ethical standards:
(Learning Objective 6 Ch 1)
A)Little would change in advanced market economies
B)Growth within the economy would increase at a far higher rate
C)The economy would slow down dramatically.
D)None of the above





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