Question 1

Performance reports are the main device for disciplining management planning.

Accepted Answer

A) True 
 B)False

Question 2

According to the Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management, every offered gift should be refused in a business setting.

Accepted Answer

A) True 
 B)False

Question 3

refers to accounting information developed for managers within an organization.

Accepted Answer

A)  Internal auditing 
B)  Financial accounting 
C)  Managerial accounting 
D)  Tax accounting 
A)  Internal auditing 
B)  Financial accounting 
C)  Managerial accounting 
D)  Tax accounting

Question 4

Situations that create pressures for unethical behavior as summarized in Financial Executive

Accepted Answer

Emphasis on short- t

Question 5

The acronym GAAP is most closely connected with:

Accepted Answer

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

Question 6

The Standards of Ethical Conduct for Management Accountants that pertains to the responsibility to communicate information fairly

Accepted Answer

The answer of The Standards of Ethical Conduct for Management...

Question 7

is mainly concerned with the company's operating matters.

Accepted Answer

A)  The controller 
B)  The chairman of the board 
C)  The treasurer 
D)  The CEO 
A)  The controller 
B)  The chairman of the board 
C)  The treasurer 
D)  The CEO

Question 8

The behavioral implications of an accounting system include the effects on the firm's customers.

Accepted Answer

A) True 
 B)False

Question 9

According to the Standards of Ethical Conduct for Management Accountants, the standard of objectivity includes:

Accepted Answer

A)  disclosing all relevant information 
B)  avoiding actual or apparent conflicts of interest 
C)  the ongoing development of the accountant's knowledge and skills 
D)  All of these answers are correct. 
A)  disclosing all relevant information 
B)  avoiding actual or apparent conflicts of interest 
C)  the ongoing development of the accountant's knowledge and skills 
D)  All of these answers are correct.

Question 10

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 11

XBRL is software that helps detect computer viruses.

Accepted Answer

A) True 
 B)False

Question 12

A budget is a qualitative expression of a plan of action.

Accepted Answer

A) True 
 B)False

Question 13

The essence of the just- in- time philosophy is to eliminate waste.

Accepted Answer

A) True 
 B)False

Question 14

In English- speaking countries outside of the United States, management accountants are known as chartered accountants.

Accepted Answer

A) True 
 B)False

Question 15

The Animal House Fraternity held a homecoming party. The fraternity prepared the following budget for 50 expected attendees: $\begin{array}{ll}
\text { Room rental } & \$ 150 \
\text { Food } & \mathbf{2 5 0} \
\text { Entertainment } & \mathbf{1 5 0} \
\text { Decorations } & \underline{75} \
\text { Totals } & \underline{\underline{\$ 625}}
\end{array}$ After all bills for the party were paid, the total came to $760. Details are: $140 for room rental; $320 for food; $125 for entertainment; and $175 for decorations. Fifty persons attended the party. What is the main reason for the unfavorable total budget variance?

Accepted Answer

A)  Entertainment is the main reason. 
B)  Decorations are the main reason. 
C)  Room rent is the main reason. 
D)  Food is the main reason. 
A)  Entertainment is the main reason. 
B)  Decorations are the main reason. 
C)  Room rent is the main reason. 
D)  Food is the main reason.

Question 16

Research and development is the function of a value chain that includes:

Accepted Answer

A)  the generation of, and experimentation with, ideas related to new products, services, or processes 
B)  the manner by which individuals or groups learn about the value and features of products or services 
C)  the coordination and assembly of resources to produce a product or deliver a service 
D)  the detail and engineering of products 
A)  the generation of, and experimentation with, ideas related to new products, services, or processes 
B)  the manner by which individuals or groups learn about the value and features of products or services 
C)  the coordination and assembly of resources to produce a product or deliver a service 
D)  the detail and engineering of products

Question 17

Certified public accountants are:

Accepted Answer

A)  external auditors 
B)  management accountants 
C)  government employees 
D)  internal auditors 
A)  external auditors 
B)  management accountants 
C)  government employees 
D)  internal auditors

Question 18

Product and service process design is the function of a value chain that includes:

Accepted Answer

A)  the detail and engineering of products 
B)  the manner by which individuals or groups learn about the value and features of products or services 
C)  the coordination and assembly of resources to produce a product or deliver a service 
D)  the generation of, and experimentation with, ideas related to new products, services, or processes 
A)  the detail and engineering of products 
B)  the manner by which individuals or groups learn about the value and features of products or services 
C)  the coordination and assembly of resources to produce a product or deliver a service 
D)  the generation of, and experimentation with, ideas related to new products, services, or processes

Question 19

Which scorecard function is associated with making nonroutine decisions?

Accepted Answer

A)  Problem solving is associated with making nonroutine decisions. 
B)  Attention directing is associated with making nonroutine decisions. 
C)  Scorekeeping is associated with making nonroutine decisions. 
D)  None of these answers is correct. 
A)  Problem solving is associated with making nonroutine decisions. 
B)  Attention directing is associated with making nonroutine decisions. 
C)  Scorekeeping is associated with making nonroutine decisions. 
D)  None of these answers is correct.

Question 20

Concentrating on areas that deserve attention and ignoring areas that are presumed to be running smoothly

Accepted Answer

Management

Performance reports are the main device for disciplining management planning.

According to the Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management, every offered gift should be refused in a business setting.

refers to accounting information developed for managers within an organization.

Situations that create pressures for unethical behavior as summarized in Financial Executive

The acronym GAAP is most closely connected with:

The Standards of Ethical Conduct for Management Accountants that pertains to the responsibility to communicate information fairly

is mainly concerned with the company's operating matters.

The behavioral implications of an accounting system include the effects on the firm's customers.

According to the Standards of Ethical Conduct for Management Accountants, the standard of objectivity includes:

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

XBRL is software that helps detect computer viruses.

A budget is a qualitative expression of a plan of action.

The essence of the just- in- time philosophy is to eliminate waste.

In English- speaking countries outside of the United States, management accountants are known as chartered accountants.

Research and development is the function of a value chain that includes:

Certified public accountants are:

Product and service process design is the function of a value chain that includes:

Which scorecard function is associated with making nonroutine decisions?

Concentrating on areas that deserve attention and ignoring areas that are presumed to be running smoothly

Introduction to Cost Behavior and Cost Volume Relationships

Measurement of Cost Behavior

Cost Management Systems and Activity-Based Costing

Relevant Information and Decision-Making: Marketing Decisions

Relevant Information and Decision-Making: Product Decisions

The Master Budget

Flexible Budget and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Job-Costing

Process-Costing Systems

Overhead Application: Variable and Absorbtion Costing

Basic Accounting Concepts, Techniques, and Conventions

Understanding Corporate Annual Reports: Basic Financial Statements

Filters

Exam 1: Managerial Accounting and the Business Organization

Performance reports are the main device for disciplining management planning.

According to the Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management, every offered gift should be refused in a business setting.

refers to accounting information developed for managers within an organization.

Situations that create pressures for unethical behavior as summarized in Financial Executive

The acronym GAAP is most closely connected with:

The Standards of Ethical Conduct for Management Accountants that pertains to the responsibility to communicate information fairly

is mainly concerned with the company's operating matters.

The behavioral implications of an accounting system include the effects on the firm's customers.

According to the Standards of Ethical Conduct for Management Accountants, the standard of objectivity includes:

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

XBRL is software that helps detect computer viruses.

A budget is a qualitative expression of a plan of action.

The essence of the just- in- time philosophy is to eliminate waste.

In English- speaking countries outside of the United States, management accountants are known as chartered accountants.

Research and development is the function of a value chain that includes:

Certified public accountants are:

Product and service process design is the function of a value chain that includes:

Which scorecard function is associated with making nonroutine decisions?

Concentrating on areas that deserve attention and ignoring areas that are presumed to be running smoothly

Introduction to Cost Behavior and Cost Volume Relationships

Measurement of Cost Behavior

Cost Management Systems and Activity-Based Costing

Relevant Information and Decision-Making: Marketing Decisions

Relevant Information and Decision-Making: Product Decisions

The Master Budget

Flexible Budget and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Job-Costing

Process-Costing Systems

Overhead Application: Variable and Absorbtion Costing

Basic Accounting Concepts, Techniques, and Conventions

Understanding Corporate Annual Reports: Basic Financial Statements

Filters