Question 1

The cost-benefit balance is the primary consideration in choosing among accounting systems and methods.

Accepted Answer

A) True 
 B)False

Question 2

Explain the role of budgets and performance reports in planning and control.

Accepted Answer

Budgets and performance reports are esse

Question 3

Management accounting refers to accounting information developed for

Accepted Answer

A)  shareholders. 
B)  governmental authorities. 
C)  managers within an organization. 
D)  loan officers. 
A)  shareholders. 
B)  governmental authorities. 
C)  managers within an organization. 
D)  loan officers.

Question 4

Which of the following statements about management accounting is FALSE?

Accepted Answer

A)  It is concerned with how measurements and reports will influence managers' daily behaviour. 
B)  It is less sharply defined than financial accounting. 
C)  Its primary users are organizational managers at various levels. 
D)  It is constrained by generally accepted accounting principles. 
A)  It is concerned with how measurements and reports will influence managers' daily behaviour. 
B)  It is less sharply defined than financial accounting. 
C)  Its primary users are organizational managers at various levels. 
D)  It is constrained by generally accepted accounting principles.

Question 5

Actual results are compared to budgeted amounts in a

Accepted Answer

A)  performance report. 
B)  financial statement. 
C)  production report. 
D)  flexible report. 
A)  performance report. 
B)  financial statement. 
C)  production report. 
D)  flexible report.

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

The CMA program focuses on management accounting and its role in Canadian business.

Accepted Answer

A) True 
 B)False

Question 8

Service organizations

Accepted Answer

A)  sell tangible goods. 
B)  are not wholesalers. 
C)  are considered manufacturers. 
D)  must be profit-seeking. 
A)  sell tangible goods. 
B)  are not wholesalers. 
C)  are considered manufacturers. 
D)  must be profit-seeking.

Question 9

Weighing known costs against probable benefits, the primary consideration in choosing among accounting systems and methods.

Accepted Answer

Cost-benef

Question 10

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

Accepted Answer

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

Question 11

________ is mainly concerned with the company's financial matters.

Accepted Answer

A)  The controller 
B)  The treasurer 
C)  The secretary 
D)  None of the above 
A)  The controller 
B)  The treasurer 
C)  The secretary 
D)  None of the above

Question 12

________ means reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities.

Accepted Answer

A)  Scorekeeping 
B)  Attention directing 
C)  Problem-solving 
D)  None of the above 
A)  Scorekeeping 
B)  Attention directing 
C)  Problem-solving 
D)  None of the above

Question 13

Launching a new product line is an example of

Accepted Answer

A)  decision making. 
B)  planning. 
C)  controlling. 
D)  organization. 
A)  decision making. 
B)  planning. 
C)  controlling. 
D)  organization.

Question 14

The Society of Management Accountants has adopted a set of standards of professional ethics which includes codes of conduct regarding all of the following EXCEPT

Accepted Answer

A)  competence. 
B)  independence. 
C)  integrity. 
D)  confidentiality. 
A)  competence. 
B)  independence. 
C)  integrity. 
D)  confidentiality.

Question 15

Management by exception involves a detailed analysis of all deviations from planned performance regardless of the amount.

Accepted Answer

A) True 
 B)False

Question 16

Product life cycles

Accepted Answer

A)  are the same for all products. 
B)  must be considered to effectively plan for production. 
C)  are computerized bicycles. 
D)  have nothing to do with product profitability. 
A)  are the same for all products. 
B)  must be considered to effectively plan for production. 
C)  are computerized bicycles. 
D)  have nothing to do with product profitability.

Question 17

Authority exerted downward over subordinates.

Accepted Answer

The answer of Authority exerted downward over subordinates....

Question 18

A survey of managers selected which of the following business areas as the most common starting-point for future managers?

Accepted Answer

A)  Accounting. 
B)  Finance. 
C)  Legal environment of business. 
D)  Computers in business. 
A)  Accounting. 
B)  Finance. 
C)  Legal environment of business. 
D)  Computers in business.

Question 19

Which of the following statements about ethical dilemmas faced by management accountants is FALSE? Ethical dilemmas

Accepted Answer

A)  are clear-cut. 
B)  involve conflict between two or more ethical standard. 
C)  require individual integrity and judgment. 
D)  require the application of ethical standards. 
A)  are clear-cut. 
B)  involve conflict between two or more ethical standard. 
C)  require individual integrity and judgment. 
D)  require the application of ethical standards.

Question 20

The codes of conduct for integrity include all of the following EXCEPT

Accepted Answer

A)  avoiding actual or apparent conflicts of interest. 
B)  refusing to advise or assist with the commission of fraud. 
C)  recognizing and communicating professional limitations. 
D)  communicating information subjectively. 
A)  avoiding actual or apparent conflicts of interest. 
B)  refusing to advise or assist with the commission of fraud. 
C)  recognizing and communicating professional limitations. 
D)  communicating information subjectively.

The cost-benefit balance is the primary consideration in choosing among accounting systems and methods.

Explain the role of budgets and performance reports in planning and control.

Management accounting refers to accounting information developed for

Which of the following statements about management accounting is FALSE?

Actual results are compared to budgeted amounts in a

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

The CMA program focuses on management accounting and its role in Canadian business.

Service organizations

Weighing known costs against probable benefits, the primary consideration in choosing among accounting systems and methods.

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

________ is mainly concerned with the company's financial matters.

________ means reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities.

Launching a new product line is an example of

The Society of Management Accountants has adopted a set of standards of professional ethics which includes codes of conduct regarding all of the following EXCEPT

Management by exception involves a detailed analysis of all deviations from planned performance regardless of the amount.

Product life cycles

Authority exerted downward over subordinates.

A survey of managers selected which of the following business areas as the most common starting-point for future managers?

Which of the following statements about ethical dilemmas faced by management accountants is FALSE? Ethical dilemmas

The codes of conduct for integrity include all of the following EXCEPT

Cost Behaviour and Cost-Volume Relationships

Measurement of Cost Behaviour

Cost Management Systems

Cost Allocation and Activity-Based Costing Systems

Job-Costing Systems

Process-Costing Systems

Relevant Information and Decision Making: Marketing Decisions

Relevant Information and Decision Making: Production Decisions

Capital Budgeting Decisions

The Master Budget

Flexible Budgets and Variance Analysis

Management Control Systems, the Balanced Scorecard, and Responsibility Accounting

Management Control in Decentralized Organizations

Filters

Exam 1: Management Accounting and Management Decisions

The cost-benefit balance is the primary consideration in choosing among accounting systems and methods.

Explain the role of budgets and performance reports in planning and control.

Management accounting refers to accounting information developed for

Which of the following statements about management accounting is FALSE?

Actual results are compared to budgeted amounts in a

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

The CMA program focuses on management accounting and its role in Canadian business.

Service organizations

Weighing known costs against probable benefits, the primary consideration in choosing among accounting systems and methods.

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

________ is mainly concerned with the company's financial matters.

________ means reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities.

Launching a new product line is an example of

The Society of Management Accountants has adopted a set of standards of professional ethics which includes codes of conduct regarding all of the following EXCEPT

Management by exception involves a detailed analysis of all deviations from planned performance regardless of the amount.

Product life cycles

Authority exerted downward over subordinates.

A survey of managers selected which of the following business areas as the most common starting-point for future managers?

Which of the following statements about ethical dilemmas faced by management accountants is FALSE? Ethical dilemmas

The codes of conduct for integrity include all of the following EXCEPT

Cost Behaviour and Cost-Volume Relationships

Measurement of Cost Behaviour

Cost Management Systems

Cost Allocation and Activity-Based Costing Systems

Job-Costing Systems

Process-Costing Systems

Relevant Information and Decision Making: Marketing Decisions

Relevant Information and Decision Making: Production Decisions

Capital Budgeting Decisions

The Master Budget

Flexible Budgets and Variance Analysis

Management Control Systems, the Balanced Scorecard, and Responsibility Accounting

Management Control in Decentralized Organizations

Filters