Question 1

Managers use management accounting information to develop,communicate,and implement strategy.

Accepted Answer

A) True 
 B)False

Question 2

Complete a performance report for the month of October,2012,for the Management Scientist Quarterly,a national publication,showing four columns: 1)Actual Result;2)Budgeted Amount;3)Difference: Actual Result minus Budgeted Amount;4)Difference as a Percentage of Budgeted Amount.Compute the difference of the actual result compared to the budgeted amount.What is the difference as a percentage of the budgeted amount? Include the following information in the performance report:

Accepted Answer

The performance report should look somet

Question 3

Which of the following is not an ethical behavior of Practitioner's of Management Accounting and Financial Managers?

Accepted Answer

A) Maintains an appropriate level of professional expertise by continually developing knowledge and skills. 
B) Performs professional duties in accordance with relevant laws,regulations,and technical standards. 
C) Provides decision support information and recommendations that are accurate,clear,concise,and timely. 
D) Permits the executives to accept bribes to award supply contracts to foreign firms. 
E) Ensures that all employees understand that value is quickly destroyed by unethical behavior in other countries. 
A) Maintains an appropriate level of professional expertise by continually developing knowledge and skills. 
B) Performs professional duties in accordance with relevant laws,regulations,and technical standards. 
C) Provides decision support information and recommendations that are accurate,clear,concise,and timely. 
D) Permits the executives to accept bribes to award supply contracts to foreign firms. 
E) Ensures that all employees understand that value is quickly destroyed by unethical behavior in other countries.

Question 4

Regional controllers have a functional responsibility to the corporate controller to align accounting policies and practices.

Accepted Answer

A) True 
 B)False

Question 5

In reference to value-chain analysis,design of products and processes includes the detailed planning,engineering,and testing of products and processes.

Accepted Answer

A) True 
 B)False

Question 6

The cost-benefit approach helps managers make certain economic decisions about purchasing new software,or the decision to keep an old software package.In making such decisions,senior managers keep ________ and ________ considerations in mind.

Accepted Answer

A) technical;behavioral 
B) vacation;benefit 
C) non-cost;non-technical 
D) technical;non-behavioral 
E) none of these are true 
A) technical;behavioral 
B) vacation;benefit 
C) non-cost;non-technical 
D) technical;non-behavioral 
E) none of these are true

Question 7

An organization that provides external reporting to shareholders is not required to show a television advertising cost as an expense for the product in the income statement in the year that those costs are incurred.

Accepted Answer

A) True 
 B)False

Question 8

The act that requires CEOs and CFOs to certify that their financial statements fairly represent the results of operations is the:

Accepted Answer

A) Taft Hartley Act. 
B) Uniform Electronics Act. 
C) Jumpstart our Business Act. 
D) United States Justice Act. 
E) Sarbanes Oxley Act. 
A) Taft Hartley Act. 
B) Uniform Electronics Act. 
C) Jumpstart our Business Act. 
D) United States Justice Act. 
E) Sarbanes Oxley Act.

Question 9

Briefly explain the planning and control activity function in management accounting.How are these two activities linked to each other?

Accepted Answer

The planning and control activities must

Question 10

Included in the ________ ________ is the function of analyzing,reporting,and accounting for resources spent in different marketing channels.

Accepted Answer

A) marketing function 
B) distribution function 
C) process function 
D) planning function 
E) production function 
A) marketing function 
B) distribution function 
C) process function 
D) planning function 
E) production function

Question 11

Managers use management accounting information to develop,communicate,and implement strategy.

Accepted Answer

A) True 
 B)False

Question 12

One of the five steps in the decision-making process is to obtain information.

Accepted Answer

A) True 
 B)False

Question 13

The best-designed strategies and the best-developed capabilities are useless unless they are effectively executed.

Accepted Answer

A) True 
 B)False

Question 14

In reference to behavioral and technical considerations,it is fair to say that technical considerations do not help managers make wise economic decisions.

Accepted Answer

A) True 
 B)False

Question 15

Although modern controllers have line authority over only their own departments,the modern concept of controllership maintains that the controller affects the entire company.

Accepted Answer

A) True 
 B)False

Question 16

The comparison of ________ performance to ________ performance,this is known as the control or postdecision role of information.

Accepted Answer

A) low;high 
B) actual;budgeted 
C) real;superficial 
D) known;unknown 
E) new;existing 
A) low;high 
B) actual;budgeted 
C) real;superficial 
D) known;unknown 
E) new;existing

Question 17

Successful strategy implementation only requires value-chain and supply-chain analysis to support long-term value.

Accepted Answer

A) True 
 B)False

Question 18

Describe the value chain and how it can help organizations become more effective.

Accepted Answer

A value chain is a sequence of business

Question 19

A manager at Best Buy had a television advertising expense in 2013.The company is required to report the expense to external shareholders.According to GAAP,when is the manager at Best Buy required to show the expense?

Accepted Answer

A) 2012 
B) 2013 
C) 2014 
D) 2015 
E) 2016 
A) 2012 
B) 2013 
C) 2014 
D) 2015 
E) 2016

Question 20

The informal relationships in organizations between friends and other managers are not important when managers attempt to implement their decisions.

Accepted Answer

A) True 
 B)False

Managers use management accounting information to develop,communicate,and implement strategy.

Which of the following is not an ethical behavior of Practitioner's of Management Accounting and Financial Managers?

Regional controllers have a functional responsibility to the corporate controller to align accounting policies and practices.

In reference to value-chain analysis,design of products and processes includes the detailed planning,engineering,and testing of products and processes.

The cost-benefit approach helps managers make certain economic decisions about purchasing new software,or the decision to keep an old software package.In making such decisions,senior managers keep and considerations in mind.

An organization that provides external reporting to shareholders is not required to show a television advertising cost as an expense for the product in the income statement in the year that those costs are incurred.

The act that requires CEOs and CFOs to certify that their financial statements fairly represent the results of operations is the:

Briefly explain the planning and control activity function in management accounting.How are these two activities linked to each other?

Included in the is the function of analyzing,reporting,and accounting for resources spent in different marketing channels.

Managers use management accounting information to develop,communicate,and implement strategy.

One of the five steps in the decision-making process is to obtain information.

The best-designed strategies and the best-developed capabilities are useless unless they are effectively executed.

In reference to behavioral and technical considerations,it is fair to say that technical considerations do not help managers make wise economic decisions.

Although modern controllers have line authority over only their own departments,the modern concept of controllership maintains that the controller affects the entire company.

The comparison of performance to performance,this is known as the control or postdecision role of information.

Successful strategy implementation only requires value-chain and supply-chain analysis to support long-term value.

Describe the value chain and how it can help organizations become more effective.

A manager at Best Buy had a television advertising expense in 2013.The company is required to report the expense to external shareholders.According to GAAP,when is the manager at Best Buy required to show the expense?

The informal relationships in organizations between friends and other managers are not important when managers attempt to implement their decisions.

An Introduction to Cost Terms and Purposes

Cost-Volume-Profit Analysis

Job Costing

Process Costing and Cost Allocation

Activity-Based Costing and Activity-Based Management

Pricing Decisions, customer Profitability, and Cost Management

Determining How Costs Behave

Decision Making and Relevant Information

Quality, inventory Management, and Time

Capital Investments

Master Budget and Responsibility Accounting

Flexible Budgets, cost Variances, and Management Control

Strategy, Balanced Scorecard, and Strategic Profitability Analysis

Transfer Pricing

Performance Measurement and Compensation

Filters

Exam 1: The Manager and Management Accounting

Managers use management accounting information to develop,communicate,and implement strategy.

Which of the following is not an ethical behavior of Practitioner's of Management Accounting and Financial Managers?

Regional controllers have a functional responsibility to the corporate controller to align accounting policies and practices.

In reference to value-chain analysis,design of products and processes includes the detailed planning,engineering,and testing of products and processes.

The cost-benefit approach helps managers make certain economic decisions about purchasing new software,or the decision to keep an old software package.In making such decisions,senior managers keep ________ and ________ considerations in mind.

An organization that provides external reporting to shareholders is not required to show a television advertising cost as an expense for the product in the income statement in the year that those costs are incurred.

The act that requires CEOs and CFOs to certify that their financial statements fairly represent the results of operations is the:

Briefly explain the planning and control activity function in management accounting.How are these two activities linked to each other?

Included in the ________ ________ is the function of analyzing,reporting,and accounting for resources spent in different marketing channels.

Managers use management accounting information to develop,communicate,and implement strategy.

One of the five steps in the decision-making process is to obtain information.

The best-designed strategies and the best-developed capabilities are useless unless they are effectively executed.

In reference to behavioral and technical considerations,it is fair to say that technical considerations do not help managers make wise economic decisions.

Although modern controllers have line authority over only their own departments,the modern concept of controllership maintains that the controller affects the entire company.

The comparison of ________ performance to ________ performance,this is known as the control or postdecision role of information.

Successful strategy implementation only requires value-chain and supply-chain analysis to support long-term value.

Describe the value chain and how it can help organizations become more effective.

A manager at Best Buy had a television advertising expense in 2013.The company is required to report the expense to external shareholders.According to GAAP,when is the manager at Best Buy required to show the expense?

The informal relationships in organizations between friends and other managers are not important when managers attempt to implement their decisions.

An Introduction to Cost Terms and Purposes

Cost-Volume-Profit Analysis

Job Costing

Process Costing and Cost Allocation

Activity-Based Costing and Activity-Based Management

Pricing Decisions, customer Profitability, and Cost Management

Determining How Costs Behave

Decision Making and Relevant Information

Quality, inventory Management, and Time

Capital Investments

Master Budget and Responsibility Accounting

Flexible Budgets, cost Variances, and Management Control

Strategy, Balanced Scorecard, and Strategic Profitability Analysis

Transfer Pricing

Performance Measurement and Compensation

Filters

The cost-benefit approach helps managers make certain economic decisions about purchasing new software,or the decision to keep an old software package.In making such decisions,senior managers keep and considerations in mind.

Included in the is the function of analyzing,reporting,and accounting for resources spent in different marketing channels.

The comparison of performance to performance,this is known as the control or postdecision role of information.