Question 1

Variances are deviations from plans.

Accepted Answer

A) True 
 B)False

Question 2

is a formal mechanism for gathering, organizing, and communicating information about an organization's activities.

Accepted Answer

A)  Scorekeeping 
B)  Management accounting 
C)  Attention directing 
D)  An accounting system 
A)  Scorekeeping 
B)  Management accounting 
C)  Attention directing 
D)  An accounting system

Question 3

is (are) the accounting system's effect on the decision of managers.

Accepted Answer

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

Question 4

Explain a management accountant's ethical responsibilities.

Accepted Answer

A certified management accountant must a

Question 5

Explain what a budget is and its purpose.

Accepted Answer

A budget is a quantitative expression of

Question 6

Which of the following is a designation associated with independent auditors?

Accepted Answer

A)  The CPA is associated with independent auditors. 
B)  The CMA is associated with independent auditors. 
C)  The IMA is associated with independent auditors. 
D)  The CFM is associated with independent auditors. 
A)  The CPA is associated with independent auditors. 
B)  The CMA is associated with independent auditors. 
C)  The IMA is associated with independent auditors. 
D)  The CFM is associated with independent auditors.

Question 7

Certified Management Accountant (CMA) pertains to independent auditors.

Accepted Answer

A) True 
 B)False

Question 8

Marketing is the function of a value chain that includes:

Accepted Answer

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

Question 9

The Delta Delta Delta Sorority held a homecoming party. The sorority prepared the following budget for 50 expected attendees: $\begin{array}{ll}
\text { Room rental } & \$ 170 \
\text { Food } & 250 \
\text { Entertainment } & 150 \
\text { Decorations } & 75 \
\text { Totals } & \$ 645
\end{array}$ After all bills for the party were paid, the total came to $660. Details are: $140 for room rental; $320 for food; $125 for entertainment; and $75 for decorations. Fifty persons attended the party. What is the variance in hotel room rental?

Accepted Answer

A)  $30 unfavorable is the hotel room rental variance. 
B)  $30 favorable is the hotel room rental variance. 
C)  $35 favorable is the hotel room rental variance. 
D)  $70 unfavorable is the hotel room rental variance. 
A)  $30 unfavorable is the hotel room rental variance. 
B)  $30 favorable is the hotel room rental variance. 
C)  $35 favorable is the hotel room rental variance. 
D)  $70 unfavorable is the hotel room rental variance.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

All of the following are reasons to study management accounting except:

Accepted Answer

A)  to help a person become a chartered accountant in the United States 
B)  a person will become a better manager 
C)  there will be more career opportunities 
D)  None of these answers is correct. 
A)  to help a person become a chartered accountant in the United States 
B)  a person will become a better manager 
C)  there will be more career opportunities 
D)  None of these answers is correct.

Question 12

E- procurement is buying and selling products and services with digital cash.

Accepted Answer

A) True 
 B)False

Question 13

Below is a statement from the Standards of Ethical Conduct for Management Accountants. "Refrain from disclosing confidential information acquired in the course of their work except when authorized, unless legally obligated to do so."
It is an example of:

Accepted Answer

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

Variances are deviations from plans.

is a formal mechanism for gathering, organizing, and communicating information about an organization's activities.

is (are) the accounting system's effect on the decision of managers.

Explain a management accountant's ethical responsibilities.

Explain what a budget is and its purpose.

Which of the following is a designation associated with independent auditors?

Certified Management Accountant (CMA) pertains to independent auditors.

Marketing is the function of a value chain that includes:

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

All of the following are reasons to study management accounting except:

E- procurement is buying and selling products and services with digital cash.

Below is a statement from the Standards of Ethical Conduct for Management Accountants. "Refrain from disclosing confidential information acquired in the course of their work except when authorized, unless legally obligated to do so." It is an example of:

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

Variances are deviations from plans.

is a formal mechanism for gathering, organizing, and communicating information about an organization's activities.

is (are) the accounting system's effect on the decision of managers.

Explain a management accountant's ethical responsibilities.

Explain what a budget is and its purpose.

Which of the following is a designation associated with independent auditors?

Certified Management Accountant (CMA) pertains to independent auditors.

Marketing is the function of a value chain that includes:

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

All of the following are reasons to study management accounting except:

E- procurement is buying and selling products and services with digital cash.

Below is a statement from the Standards of Ethical Conduct for Management Accountants. "Refrain from disclosing confidential information acquired in the course of their work except when authorized, unless legally obligated to do so." It is an example of:

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