Question 1

_____ is are) the primary consideration in choosing among accounting systems and methods.

Accepted Answer

A) Simplicity 
B) Behavioral implications 
C) The cost-benefit balance 
D) Computerization 
A) Simplicity 
B) Behavioral implications 
C) The cost-benefit balance 
D) Computerization

Question 2

Management by exception _____.

Accepted Answer

A) is the quantitative expression of action plans 
B) provides feedback by comparing results with plans and by highlighting deviations from plans 
C) is a summary report of plan results 
D) focuses on areas that are presumed to be running smoothly 
A) is the quantitative expression of action plans 
B) provides feedback by comparing results with plans and by highlighting deviations from plans 
C) is a summary report of plan results 
D) focuses on areas that are presumed to be running smoothly

Question 3

Emphasis on long-term results creates pressures for unethical behavior.

Accepted Answer

A) True 
 B)False

Question 4

Accountants provide cost data for customer service activities, such as warranty costs.

Accepted Answer

A) True 
 B)False

Question 5

Product life cycles may range from a few months to many years.

Accepted Answer

A) True 
 B)False

Question 6

Financial accounting reporting is focused on future evaluation.

Accepted Answer

A) True 
 B)False

Question 7

All service organizations are similar in that _____.

Accepted Answer

A) there is very little labor 
B) output is usually difficult to define 
C) major inputs and outputs can be stored 
D) they are capital intensive 
A) there is very little labor 
B) output is usually difficult to define 
C) major inputs and outputs can be stored 
D) they are capital intensive

Question 8

A company should be especially concerned that revenues are balanced with costs during which stage of the product life cycle?

Accepted Answer

A) Product development is the stage where a company should be especially concerned that revenues are balanced with costs. 
B) Introduction to market is the stage where a company should be especially concerned that revenues are balanced with costs. 
C) Mature market is the stage where a company should be especially concerned that revenues are balanced with costs. 
D) Phase-out of product is the stage where a company should be especially concerned that revenues are balanced with costs. 
A) Product development is the stage where a company should be especially concerned that revenues are balanced with costs. 
B) Introduction to market is the stage where a company should be especially concerned that revenues are balanced with costs. 
C) Mature market is the stage where a company should be especially concerned that revenues are balanced with costs. 
D) Phase-out of product is the stage where a company should be especially concerned that revenues are balanced with costs.

Question 9

The benefits of e-procurement are realized through _____.

Accepted Answer

A) reduced transaction cost 
B) reduced transaction time from request to delivery 
C) reduced transaction time from delivery to sale 
D) reduced transaction cost and reduced transaction time from request to delivery 
A) reduced transaction cost 
B) reduced transaction time from request to delivery 
C) reduced transaction time from delivery to sale 
D) reduced transaction cost and reduced transaction time from request to delivery

Question 10

Line departments are directly responsible for producing a company's goods and services.

Accepted Answer

A) True 
 B)False

Question 11

XBRL, eXtensible business reporting language, is software that helps detect computer viruses.

Accepted Answer

A) True 
 B)False

Question 12

The codes of conduct for integrity include all of the following except _____.

Accepted Answer

A) avoiding actual or apparent conflicts of interest 
B) refusing any gift that would influence the accountant's actions 
C) recognizing and communicating professional limitations 
D) communicating information subjectively 
A) avoiding actual or apparent conflicts of interest 
B) refusing any gift that would influence the accountant's actions 
C) recognizing and communicating professional limitations 
D) communicating information subjectively

Question 13

The treasurer is an organization's top accounting officer.

Accepted Answer

A) True 
 B)False

Question 14

The Institute of Management Accountants has adopted a set of standards of ethical conduct, which includes codes of conduct regarding all of the following except _____.

Accepted Answer

A) competence 
B) independence 
C) integrity 
D) confidentiality 
A) competence 
B) independence 
C) integrity 
D) confidentiality

Question 15

A manager using information to decide whether to add or drop a product is an example of problem solving.

Accepted Answer

A) True 
 B)False

Question 16

Of primary consideration in management accounting are economic and behavioral considerations.

Accepted Answer

A) True 
 B)False

Question 17

Setting objectives deals with controlling.

Accepted Answer

A) True 
 B)False

Question 18

A whistle-blower is a supervisor that reports wrongdoings to the people he or she supervises.

Accepted Answer

A) True 
 B)False

Question 19

The acronym GAAP is most closely connected with _____.

Accepted Answer

A) management accounting 
B) financial accounting 
C) the IRS 
D) both management accounting and financial accounting 
A) management accounting 
B) financial accounting 
C) the IRS 
D) both management accounting and financial accounting

Question 20

The greatest impact of the Foreign Corrupt Practices Act on the accounting system is that it _____.

Accepted Answer

A) forbids bribery 
B) prohibits unethical practices by foreign investors 
C) requires documentation of the adequacy of internal accounting controls 
D) specifies how to account for transactions with foreign countries 
A) forbids bribery 
B) prohibits unethical practices by foreign investors 
C) requires documentation of the adequacy of internal accounting controls 
D) specifies how to account for transactions with foreign countries

_____ is are) the primary consideration in choosing among accounting systems and methods.

Management by exception _____.

Emphasis on long-term results creates pressures for unethical behavior.

Accountants provide cost data for customer service activities, such as warranty costs.

Product life cycles may range from a few months to many years.

Financial accounting reporting is focused on future evaluation.

All service organizations are similar in that _____.

A company should be especially concerned that revenues are balanced with costs during which stage of the product life cycle?

The benefits of e-procurement are realized through _____.

Line departments are directly responsible for producing a company's goods and services.

XBRL, eXtensible business reporting language, is software that helps detect computer viruses.

The codes of conduct for integrity include all of the following except _____.

The treasurer is an organization's top accounting officer.

The Institute of Management Accountants has adopted a set of standards of ethical conduct, which includes codes of conduct regarding all of the following except _____.

A manager using information to decide whether to add or drop a product is an example of problem solving.

Of primary consideration in management accounting are economic and behavioral considerations.

Setting objectives deals with controlling.

A whistle-blower is a supervisor that reports wrongdoings to the people he or she supervises.

The acronym GAAP is most closely connected with _____.

The greatest impact of the Foreign Corrupt Practices Act on the accounting system is that it _____.

Introduction to Cost Behavior and Cost-Volume Relationships

Measurement of Cost Behavior

Cost Management Systems and an Introduction to Activity-Based Costing

Relevant Information and Decision Making With a Focus on Pricing Decisions

Relevant Information and Decision Making: Operational Decisions

Introduction to Budgets and Preparing the Master Budget

Flexible Budgets and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Accounting for Overhead Costs

Job-Costing and Process-Costing Systems

Basic Accounting: Concepts, Techniques, and Conventions

Understanding Corporate Annual Reports: Basic Financial Statements

Understanding and Analyzing Consolidated Financial Statements

Filters

Exam 1: Managerial Accounting, the Business Organization, and Professional Ethics

_____ is are) the primary consideration in choosing among accounting systems and methods.

Management by exception _____.

Emphasis on long-term results creates pressures for unethical behavior.

Accountants provide cost data for customer service activities, such as warranty costs.

Product life cycles may range from a few months to many years.

Financial accounting reporting is focused on future evaluation.

All service organizations are similar in that _____.

A company should be especially concerned that revenues are balanced with costs during which stage of the product life cycle?

The benefits of e-procurement are realized through _____.

Line departments are directly responsible for producing a company's goods and services.

XBRL, eXtensible business reporting language, is software that helps detect computer viruses.

The codes of conduct for integrity include all of the following except _____.

The treasurer is an organization's top accounting officer.

The Institute of Management Accountants has adopted a set of standards of ethical conduct, which includes codes of conduct regarding all of the following except _____.

A manager using information to decide whether to add or drop a product is an example of problem solving.

Of primary consideration in management accounting are economic and behavioral considerations.

Setting objectives deals with controlling.

A whistle-blower is a supervisor that reports wrongdoings to the people he or she supervises.

The acronym GAAP is most closely connected with _____.

The greatest impact of the Foreign Corrupt Practices Act on the accounting system is that it _____.

Introduction to Cost Behavior and Cost-Volume Relationships

Measurement of Cost Behavior

Cost Management Systems and an Introduction to Activity-Based Costing

Relevant Information and Decision Making With a Focus on Pricing Decisions

Relevant Information and Decision Making: Operational Decisions

Introduction to Budgets and Preparing the Master Budget

Flexible Budgets and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Accounting for Overhead Costs

Job-Costing and Process-Costing Systems

Basic Accounting: Concepts, Techniques, and Conventions

Understanding Corporate Annual Reports: Basic Financial Statements

Understanding and Analyzing Consolidated Financial Statements

Filters