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

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Working as an accountant only provides exposure to a few parts of an organization.

(True/False)
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Performance reports are the main device for disciplining management planning.

(True/False)
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According to the Financial Executives Institute, one function of controllership is _____.

(Multiple Choice)
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A budget is a qualitative expression of a plan of action.

(True/False)
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The management accountant's counterpart to the Certified Public Accountant CPA) designation

(Short Answer)
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Contrast the functions of controllers and treasurers. The treasurer is concerned mainly with the company's financial matters such as investor relations, provision of capital, short?term financing, credits and collections, investments, risk management, and banking.The controller is concerned with operating matters such as reporting and interpreting, evaluating and consulting, tax administration, government reporting, and protection of assets.

(Essay)
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Some popular providers of enterprise resource planning systems

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The value chain is the sum of all costs added to products as the products pass from manufacturers to wholesalers to retailers.

(True/False)
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Research and development is the function of a value chain that includes _____.

(Multiple Choice)
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A person who reports wrongdoings to his or her supervisor

(Short Answer)
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When the benefits of a potential decision are greater than the costs, the decision should usually be made.

(True/False)
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