Question 1

Discuss from where an organization receives information and what happens to information within an organization.

Accepted Answer

An organization receives information fro

Question 2

Which of the following is not a primary component of a control system?

Accepted Answer

A) operator 
B) communications network 
C) effector 
D) assessor 
A) operator 
B) communications network 
C) effector 
D) assessor

Question 3

Discuss the characteristics of an organization for which a true cost management system would be appropriate.

Accepted Answer

The organization for which a true CMS wo

Question 4

A cost management system should use cost driver information to trace costs to products and services.

Accepted Answer

A) True 
 B)False

Question 5

Performance reports are useful only to the extent that performance is measured against

Accepted Answer

A) a meaningful benchmark. 
B) the performance of all other units or managers. 
C) the budget as adopted for the period. 
D) competitors' achievements. 
A) a meaningful benchmark. 
B) the performance of all other units or managers. 
C) the budget as adopted for the period. 
D) competitors' achievements.

Question 6

A device that alters behavior if the control system indicates a need to do so is referred to as ____________________.

Accepted Answer

The answer of A device that alters behavior if the...

Question 7

Which of the following statements is false concerning a management control system?

Accepted Answer

A) A management control system may be referred to as a black box. 
B) A management control system should serve as a guide to organizations. 
C) A management control system should help implement strategies. 
D) A management control system is separate from a cost management system. 
A) A management control system may be referred to as a black box. 
B) A management control system should serve as a guide to organizations. 
C) A management control system should help implement strategies. 
D) A management control system is separate from a cost management system.

Question 8

In conjunction with a cost management system,gap analysis refers to comparing

Accepted Answer

A) the information being received by competitors' managers to the information being received by in-house managers. 
B) the information needed to what is available. 
C) current cost information to projected cost information. 
D) budget figures to actual spending. 
A) the information being received by competitors' managers to the information being received by in-house managers. 
B) the information needed to what is available. 
C) current cost information to projected cost information. 
D) budget figures to actual spending.

Question 9

Which of the following indicates the mission being pursued by a subunit that is
$\text {\underline{ using cash?} }$                    $\text {\underline{ generating casi?} }$

Accepted Answer

A) save harvest 
B) build save 
C) harvest build 
D) build harvest 
A) save harvest 
B) build save 
C) harvest build 
D) build harvest

Question 10

The operation of a management control system is readily observable.

Accepted Answer

A) True 
 B)False

Question 11

A measuring device that identifies what is actually happening in the process being controlled is a detector.

Accepted Answer

A) True 
 B)False

Question 12

A long-run challenge for a business is maintaining a competitive position.

Accepted Answer

A) True 
 B)False

Question 13

The underlying set of assumptions about an organization and the goals,processes,and values that its members share is referred to as ______________________________.

Accepted Answer

organizati

Question 14

Reactions to information provided by the management control system are

Accepted Answer

A) formulated in the organization's strategic plan. 
B) judgmental,and are based on interpretations and circumstances. 
C) assessed by the communications network of the MCS. 
D) determined as those activities that will be most efficient and effective given the organization's available technology. 
A) formulated in the organization's strategic plan. 
B) judgmental,and are based on interpretations and circumstances. 
C) assessed by the communications network of the MCS. 
D) determined as those activities that will be most efficient and effective given the organization's available technology.

Question 15

The accounting function in an organization is expected to support managers in which of the following functions?
$\text {\underline{ Planning} }$                 $\text {\underline{ Controlling} }$            $\text {\underline{ Evaluating performance} }$

Accepted Answer

A) yes yes no 
B) no yes no 
C) no no yes 
D) yes yes yes 
A) yes yes no 
B) no yes no 
C) no no yes 
D) yes yes yes

Question 16

A responsibility accounting system provides information to top management about the

Accepted Answer

A) organizational responsibilities of each subunit manager. 
B) performance of each organizational subunit and its manager. 
C) ability of each subunit manager to ensure a satisfactory cost to revenue relationship. 
D) all of the above. 
A) organizational responsibilities of each subunit manager. 
B) performance of each organizational subunit and its manager. 
C) ability of each subunit manager to ensure a satisfactory cost to revenue relationship. 
D) all of the above.

Question 17

Which of the following would be considered a detector?

Accepted Answer

A) computer program 
B) source document 
C) variance report 
D) all of the above 
A) computer program 
B) source document 
C) variance report 
D) all of the above

Question 18

Relating resource consumption and cost to alternative product and process designs can be achieved through

Accepted Answer

A) kaizen costing. 
B) reverse engineering. 
C) computer simulation. 
D) all of the above. 
A) kaizen costing. 
B) reverse engineering. 
C) computer simulation. 
D) all of the above.

Question 19

Which of the following groups are external users of data gathered by a management information system?
$\text {\underline{ Creditors} }$          $\text {\underline{ Regulatory Bodies} }$                  $\text {\underline{ Suppliers} }$

Accepted Answer

A) yes no yes 
B) no no no 
C) no yes yes 
D) yes yes yes 
A) yes no yes 
B) no no no 
C) no yes yes 
D) yes yes yes

Question 20

Gap analysis is a beneficial tool in implementing a cost management system.

Accepted Answer

A) True 
 B)False

Discuss from where an organization receives information and what happens to information within an organization.

Which of the following is not a primary component of a control system?

Discuss the characteristics of an organization for which a true cost management system would be appropriate.

A cost management system should use cost driver information to trace costs to products and services.

Performance reports are useful only to the extent that performance is measured against

A device that alters behavior if the control system indicates a need to do so is referred to as ____________________.

Which of the following statements is false concerning a management control system?

In conjunction with a cost management system,gap analysis refers to comparing

Which of the following indicates the mission being pursued by a subunit that is $\text {\underline{ using cash?} }$ $\text {\underline{ generating casi?} }$

The operation of a management control system is readily observable.

A measuring device that identifies what is actually happening in the process being controlled is a detector.

A long-run challenge for a business is maintaining a competitive position.

The underlying set of assumptions about an organization and the goals,processes,and values that its members share is referred to as ______________________________.

Reactions to information provided by the management control system are

The accounting function in an organization is expected to support managers in which of the following functions? $\text {\underline{ Planning} }$ $\text {\underline{ Controlling} }$ $\text {\underline{ Evaluating performance} }$

A responsibility accounting system provides information to top management about the

Which of the following would be considered a detector?

Relating resource consumption and cost to alternative product and process designs can be achieved through

Which of the following groups are external users of data gathered by a management information system? $\text {\underline{ Creditors} }$ $\text {\underline{ Regulatory Bodies} }$ $\text {\underline{ Suppliers} }$

Gap analysis is a beneficial tool in implementing a cost management system.

Introduction to Cost Accounting

Cost Terminology and Cost Behaviors

Predetermined Overhead Rates, Flexible Budgets, and Absorptionvariable Costing

Activity-Based Management and Activity-Based Costing

Job Order Costing

Process Costing

Standard Costing and Variance Analysis

The Master Budget

Break-Even Point and Cost-Volume-Profit Analysis

Relevant Information for Decision Making

Allocation of Joint Costs and Accounting for By-Products

Responsibility Accounting,support Department Allocations,and Transfer Pricing

Performance Measurement, balanced Scorecards, and Performance Rewards

Capital Budgeting

Managing Costs and Uncertainty

Implementing Quality Concepts

Inventory and Production Management

Emerging Management Practices

Filters

Exam 12: Introduction to Cost Management Systems

Discuss from where an organization receives information and what happens to information within an organization.

Which of the following is not a primary component of a control system?

Discuss the characteristics of an organization for which a true cost management system would be appropriate.

A cost management system should use cost driver information to trace costs to products and services.

Performance reports are useful only to the extent that performance is measured against

A device that alters behavior if the control system indicates a need to do so is referred to as ____________________.

Which of the following statements is false concerning a management control system?

In conjunction with a cost management system,gap analysis refers to comparing

Which of the following indicates the mission being pursued by a subunit that is using cash?‾ \text {\underline{ using cash?} } using cash?​ generating casi?‾ \text {\underline{ generating casi?} } generating casi?​

The operation of a management control system is readily observable.

A measuring device that identifies what is actually happening in the process being controlled is a detector.

A long-run challenge for a business is maintaining a competitive position.

The underlying set of assumptions about an organization and the goals,processes,and values that its members share is referred to as ______________________________.

Reactions to information provided by the management control system are

A responsibility accounting system provides information to top management about the

Which of the following would be considered a detector?

Relating resource consumption and cost to alternative product and process designs can be achieved through

Which of the following groups are external users of data gathered by a management information system? Creditors‾ \text {\underline{ Creditors} } Creditors​ Regulatory Bodies‾ \text {\underline{ Regulatory Bodies} } Regulatory Bodies​ Suppliers‾ \text {\underline{ Suppliers} } Suppliers​

Gap analysis is a beneficial tool in implementing a cost management system.

Introduction to Cost Accounting

Cost Terminology and Cost Behaviors

Predetermined Overhead Rates, Flexible Budgets, and Absorptionvariable Costing

Activity-Based Management and Activity-Based Costing

Job Order Costing

Process Costing

Standard Costing and Variance Analysis

The Master Budget

Break-Even Point and Cost-Volume-Profit Analysis

Relevant Information for Decision Making

Allocation of Joint Costs and Accounting for By-Products

Responsibility Accounting,support Department Allocations,and Transfer Pricing

Performance Measurement, balanced Scorecards, and Performance Rewards

Capital Budgeting

Managing Costs and Uncertainty

Implementing Quality Concepts

Inventory and Production Management

Emerging Management Practices

Filters

Which of the following indicates the mission being pursued by a subunit that is $\text {\underline{ using cash?} }$ $\text {\underline{ generating casi?} }$

Which of the following groups are external users of data gathered by a management information system? $\text {\underline{ Creditors} }$ $\text {\underline{ Regulatory Bodies} }$ $\text {\underline{ Suppliers} }$