Question 1

Which of the following is a challenge an organization would face in implementing an environmental management accounting system?

Accepted Answer

A) Environmental costs are traditionally hidden in overhead costs. 
B) Information systems are not equipped to deal with environmental information. 
C) Environmental accounting is a relatively new field and is still developing. 
D) All of the above. 
A) Environmental costs are traditionally hidden in overhead costs. 
B) Information systems are not equipped to deal with environmental information. 
C) Environmental accounting is a relatively new field and is still developing. 
D) All of the above.

Question 2

Which of the following items is most likely to be found on an environmental management accounting report?

Accepted Answer

A) CEO's salary 
B) Public accounting firm's fee for doing financial accounting audit 
C) Ratio of recycled trash to total trash 
D) Regional sales revenue 
A) CEO's salary 
B) Public accounting firm's fee for doing financial accounting audit 
C) Ratio of recycled trash to total trash 
D) Regional sales revenue

Question 3

Currently, the SEC does not require publicly-held corporations to disclose the costs related to remediation of contaminated sites.

Accepted Answer

A) True 
 B)False

Question 4

The managerial accountant at the Export Shoppe attended a meeting with the facilities manager to discuss the internal and external costs during the quarter. The facilities manager provided the managerial accountant with the following cost worksheet that highlights the internal and external costs during the period: Export Shoppe
Cost Worksheet
Year Ending December 31, 2013
  The managerial accountant reported that the total environmental costs are 20% of all costs during the year. Calculate the total environmental costs at the Export Shoppe.

Accepted Answer

A) $4400 
B) $5500 
C) $6200 
D) $7460 
A) $4400 
B) $5500 
C) $6200 
D) $7460

Question 5

Which of the following items represent monetary information in an environmental management accounting system?

Accepted Answer

A) Cost of coffee in break room 
B) Cost of sulfur used in erasers 
C) Cost of wages for secretaries 
D) Cost of wages for quality control inspector 
A) Cost of coffee in break room 
B) Cost of sulfur used in erasers 
C) Cost of wages for secretaries 
D) Cost of wages for quality control inspector

Question 6

Gluck Metal Works stamps sheet metal into blanks that are used in a variety of consumer products. The average cost for sheet metal is $100 per ton. Gluck's waste disposal company charges $55 per ton to dispose of manufacturing waste. The stamping process currently employed by Gluck generates an average of 120 tons of waste per month. What is the annual cost of stamping waste, including both the materials cost and the disposal cost?

Accepted Answer

A) $223,200 
B) $18,600 
C) $144,000 
D) $79,200 
A) $223,200 
B) $18,600 
C) $144,000 
D) $79,200

Question 7

The social category in the G4 framework contains which 4 subcategories?

Accepted Answer

A) Society, environment, external reporting, and internal affairs 
B) Labor practices, human rights, society, and product responsibility 
C) External reporting, environmental impact, product responsibility, and internal affairs 
D) None of these; there are only 3 subcategories 
A) Society, environment, external reporting, and internal affairs 
B) Labor practices, human rights, society, and product responsibility 
C) External reporting, environmental impact, product responsibility, and internal affairs 
D) None of these; there are only 3 subcategories

Question 8

An EMA system only requires aggregated data to function effectively.

Accepted Answer

A) True 
 B)False

Question 9

Rubber City Cycles manufactures carbon fiber bicycle frames for professional racing and avid amateur cyclists. Rubber City has found a CNC (computer numerical control)machine that will significantly reduce manufacturing waste while improving the quality of the frames. The new CNC machine will increase annual fixed costs by $13,904, but will decrease variable cost per unit by $180. Rubber City expects to sell 750 frames next year. Annual data for the current system are as follows:
  By what amount will the breakeven point in dollars increase (decrease)if Rubber City purchases the new CNC machine? (Round any intermediary calculations to the nearest whole unit and your final answer to the nearest dollar.)

Accepted Answer

A) ($83,160) 
B) $83,160 
C) ($318,808) 
D) $318,808 
A) ($83,160) 
B) $83,160 
C) ($318,808) 
D) $318,808

Question 10

Which of the following organizations has developed the G4 Guidelines?

Accepted Answer

A) Global Reporting Initiative (GRI) 
B) International Accounting Standards Board (IAS
B)  
C) Carbon Disclosure Project (CDP) 
D) International Organization for Standardization (ISO) 
A) Global Reporting Initiative (GRI) 
B) International Accounting Standards Board (IAS
B)  
C) Carbon Disclosure Project (CDP) 
D) International Organization for Standardization (ISO)

Question 11

R-Cubed manufactures custom playground equipment from recycled plastics for city school districts. The school districts are required to use a certain percentage of recycled materials to comply with its state grants. As a result, R-Cubed tracks both virgin (non-recycled)and recycled materials used to manufacture its playground equipment. R-Cubed uses a predetermined manufacturing overhead rate of $7.30 per direct labor hour.
Here is a summary of the materials and labor used on a recent job for Stow City Schools:
  Calculate the percentage of recycled-content used in the Stow City Schools job (using pounds).

Accepted Answer

A) 65% 
B) 35% 
C) 183% 
D) 55% 
A) 65% 
B) 35% 
C) 183% 
D) 55%

Question 12

Sustainability considers not only the needs of the present generation, but also the needs of future generations.

Accepted Answer

A) True 
 B)False

Question 13

An organization faces many challenges when implementing an environmental accounting (EMA)system. Which of the following inherent challenges is an accountant facing when he is having difficulty finding literature regarding "best practices" for environmental accounting?

Accepted Answer

A) Hidden Cost 
B) Communication issue 
C) Newness of EMA 
D) Historical orientation of accounting 
A) Hidden Cost 
B) Communication issue 
C) Newness of EMA 
D) Historical orientation of accounting

Question 14

The costs incurred by a manufacturer of lawn mowers to develop a method to reduce carbon dioxide emissions from its products would be categorized as what type of cost by an environmental management accounting system (EMA)?

Accepted Answer

A) Research and development (R&
D) cost 
B) Waste and emission control cost 
C) Prevention cost 
D) Materials cost of product output 
A) Research and development (R&
D) cost 
B) Waste and emission control cost 
C) Prevention cost 
D) Materials cost of product output

Question 15

Which of the following items represents monetary information in an environmental management accounting system?

Accepted Answer

A) Kilowatt hours of electricity used 
B) Cost of upgrading factory equipment to reduce emissions 
C) Ratio of recycled trash to total trash 
D) Cost of janitorial services in office 
A) Kilowatt hours of electricity used 
B) Cost of upgrading factory equipment to reduce emissions 
C) Ratio of recycled trash to total trash 
D) Cost of janitorial services in office

Question 16

Sustainability reporting helps companies set goals, measure performance, and manage change as they move towards a more sustainable model of operations.

Accepted Answer

A) True 
 B)False

Question 17

All of the following represent monetary information in an environmental management accounting system except

Accepted Answer

A) cost of lumber used in tables. 
B) wages of workers needed to comply with new EPA standards. 
C) gallons of waste-water generated. 
D) cost to upgrade factory to reduce emissions. 
A) cost of lumber used in tables. 
B) wages of workers needed to comply with new EPA standards. 
C) gallons of waste-water generated. 
D) cost to upgrade factory to reduce emissions.

Question 18

The total volume of water use associated with the processes and products of a business is

Accepted Answer

A) usage footprint. 
B) waste footprint. 
C) trash footprint. 
D) water footprint. 
A) usage footprint. 
B) waste footprint. 
C) trash footprint. 
D) water footprint.

Question 19

The cost of wages of workers needed to comply with new EPA standards is included in the Payroll account for all employees. This scenario is an example of which type of EMA implementation challenge?

Accepted Answer

A) Historical orientation of accounting 
B) Communication issue 
C) Newness of EMA 
D) Aggregated accounting information 
A) Historical orientation of accounting 
B) Communication issue 
C) Newness of EMA 
D) Aggregated accounting information

Question 20

The categories of costs collected by an EMA system are similar to the costs collected by traditional accounting systems.

Accepted Answer

A) True 
 B)False

Which of the following is a challenge an organization would face in implementing an environmental management accounting system?

Which of the following items is most likely to be found on an environmental management accounting report?

Currently, the SEC does not require publicly-held corporations to disclose the costs related to remediation of contaminated sites.

Which of the following items represent monetary information in an environmental management accounting system?

The social category in the G4 framework contains which 4 subcategories?

An EMA system only requires aggregated data to function effectively.

Which of the following organizations has developed the G4 Guidelines?

Sustainability considers not only the needs of the present generation, but also the needs of future generations.

An organization faces many challenges when implementing an environmental accounting (EMA)system. Which of the following inherent challenges is an accountant facing when he is having difficulty finding literature regarding "best practices" for environmental accounting?

The costs incurred by a manufacturer of lawn mowers to develop a method to reduce carbon dioxide emissions from its products would be categorized as what type of cost by an environmental management accounting system (EMA)?

Which of the following items represents monetary information in an environmental management accounting system?

Sustainability reporting helps companies set goals, measure performance, and manage change as they move towards a more sustainable model of operations.

All of the following represent monetary information in an environmental management accounting system except

The total volume of water use associated with the processes and products of a business is

The cost of wages of workers needed to comply with new EPA standards is included in the Payroll account for all employees. This scenario is an example of which type of EMA implementation challenge?

The categories of costs collected by an EMA system are similar to the costs collected by traditional accounting systems.

Introduction to Managerial Accounting

Building Blocks of Managerial Accounting

Job Costing

Activity-Based Costing, Lean Operations, and the Costs of Quality

Process Costing

Cost Behavior

Cost-Volume-Profit Analysis

Relevant Costs for Short-Term Decisions

The Master Budget

Performance Evalulation

Standard Costs and Variances

Capital Investment Decisions and the Time Value of Money

Statement of Cash Flows

Financial Statement Analysis

Filters

Exam 15: Sustainability

Which of the following is a challenge an organization would face in implementing an environmental management accounting system?

Which of the following items is most likely to be found on an environmental management accounting report?

Currently, the SEC does not require publicly-held corporations to disclose the costs related to remediation of contaminated sites.

Which of the following items represent monetary information in an environmental management accounting system?

The social category in the G4 framework contains which 4 subcategories?

An EMA system only requires aggregated data to function effectively.

Which of the following organizations has developed the G4 Guidelines?

Sustainability considers not only the needs of the present generation, but also the needs of future generations.

An organization faces many challenges when implementing an environmental accounting (EMA)system. Which of the following inherent challenges is an accountant facing when he is having difficulty finding literature regarding "best practices" for environmental accounting?

The costs incurred by a manufacturer of lawn mowers to develop a method to reduce carbon dioxide emissions from its products would be categorized as what type of cost by an environmental management accounting system (EMA)?

Which of the following items represents monetary information in an environmental management accounting system?

Sustainability reporting helps companies set goals, measure performance, and manage change as they move towards a more sustainable model of operations.

All of the following represent monetary information in an environmental management accounting system except

The total volume of water use associated with the processes and products of a business is

The cost of wages of workers needed to comply with new EPA standards is included in the Payroll account for all employees. This scenario is an example of which type of EMA implementation challenge?

The categories of costs collected by an EMA system are similar to the costs collected by traditional accounting systems.

Introduction to Managerial Accounting

Building Blocks of Managerial Accounting

Job Costing

Activity-Based Costing, Lean Operations, and the Costs of Quality

Process Costing

Cost Behavior

Cost-Volume-Profit Analysis

Relevant Costs for Short-Term Decisions

The Master Budget

Performance Evalulation

Standard Costs and Variances

Capital Investment Decisions and the Time Value of Money

Statement of Cash Flows

Financial Statement Analysis

Filters