Question 1

The person(s)directly responsible for the attainment of organizational objectives is/are

Accepted Answer

A) staff management. 
B) line management. 
C) both staff and line management. 
D) the chief financial officer. 
E) the internal auditor. 
A) staff management. 
B) line management. 
C) both staff and line management. 
D) the chief financial officer. 
E) the internal auditor. B

Question 2

What aspect of business analysis focuses on the sequence of business functions?

Accepted Answer

A) customer service 
B) value chain 
C) quality 
D) research and development 
E) product design 
A) customer service 
B) value chain 
C) quality 
D) research and development 
E) product design B

Question 3

Which of the following statements is TRUE regarding sustainability accounting?

Accepted Answer

A) The Global Reporting Initiative (GRI)is a for profit organization established to develop guidelines so that "reporting on economic, environmental and social performance by all organizations is as routine and comparable as financial reporting." 
B) Statutory requirements describe the elements that must be included in reports based on sustainability accounting. 
C) Since 2002 it has been a criminal offence for the Chief Financial Officer to sign off on a report based on sustainability accounting that does not include a section on environmental management. 
D) Corporate Social Responsibility (CSR)is a subset of sustainability accounting. 
E) The trend to sustainability in reporting has emphasized value creation as well as risk mitigation in financial reports and management discussion and analysis of organizations. 
A) The Global Reporting Initiative (GRI)is a for profit organization established to develop guidelines so that "reporting on economic, environmental and social performance by all organizations is as routine and comparable as financial reporting." 
B) Statutory requirements describe the elements that must be included in reports based on sustainability accounting. 
C) Since 2002 it has been a criminal offence for the Chief Financial Officer to sign off on a report based on sustainability accounting that does not include a section on environmental management. 
D) Corporate Social Responsibility (CSR)is a subset of sustainability accounting. 
E) The trend to sustainability in reporting has emphasized value creation as well as risk mitigation in financial reports and management discussion and analysis of organizations. E

Question 4

Strategy specifies

Accepted Answer

A) how an organization matches its own capabilities with the opportunities in the marketplace. 
B) standard procedures to ensure quality products. 
C) incremental changes for improved performance. 
D) the demand created for products and services. 
E) that a company's financial procedures are in compliance with IFRS/ASPE. 
A) how an organization matches its own capabilities with the opportunities in the marketplace. 
B) standard procedures to ensure quality products. 
C) incremental changes for improved performance. 
D) the demand created for products and services. 
E) that a company's financial procedures are in compliance with IFRS/ASPE.

Question 5

Complete a performance report for the month of February, 2016, for the Daily Mirror, a regional newspaper showing four columns: 1)Actual Result; 2)Budgeted Amount; 3)Difference: Actual Result minus Budgeted Amount; 4)Difference as a Percentage of Budgeted Amount; AND, three rows: 1)advertising pages sold; 2)average rate per page; 3)advertising revenues.Use the following data:
   Does the report indicate any cause for managerial investigation?

Accepted Answer

The performance report should look somet

Question 6

In designing strategy, a company must match the opportunities and threats in the marketplace with

Accepted Answer

A) those of the CFO (Chief Financial Officer). 
B) its resources and capabilities. 
C) branding opportunities. 
D) capabilities of current suppliers. 
E) its competitors. 
A) those of the CFO (Chief Financial Officer). 
B) its resources and capabilities. 
C) branding opportunities. 
D) capabilities of current suppliers. 
E) its competitors.

Question 7

Jayhawk Basketballs manufactures and distributes rebounding equipment.The company is having a problem coordinating its marketing and production efforts.Every time marketing has a special promotion in a certain part of the country, production either cannot deliver the products or distribution has them in the wrong part of the country.In addition, the company has had several production stoppages due to insufficient raw material stock at the manufacturing plant.Required:
In terms of the information system, what appears to be the main problems? What action can be taken to improve the situation?

Accepted Answer

The system does not provide timely, accu

Question 8

The value chain includes the following functions: research and development; design of products, services, or processes; production; marketing; distribution; customer service; and management satisfaction.

Accepted Answer

A) True 
 B)False

Question 9

R&D, production, and customer service are business functions that are all included as part of

Accepted Answer

A) the value chain. 
B) benchmarking. 
C) marketing. 
D) the supply chain. 
E) the company strategy. 
A) the value chain. 
B) benchmarking. 
C) marketing. 
D) the supply chain. 
E) the company strategy.

Question 10

Hardcover Company incurs the following costs when it manufactures books.Match each one of them to one of the value chain functions listed.
A)production
B)distribution
C)marketing
D)research and development
-cost of paper used in display at national trade show

Accepted Answer

The answer of Hardcover Company incurs the following costs when...

Question 11

Management accountants are required to follow the generally accepted accounting principles that are used for external financial reporting when preparing reports for internal users.

Accepted Answer

A) True 
 B)False

Question 12

An accountant, as a member of a professional organization, must follow only those ethical requirements as are prescribed by the organization they belong to, such as the Chartered Professional Accountants of Canada.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is NOT a use of feedback, from a manager's perspective?

Accepted Answer

A) to improve past performances 
B) to search for alternative ways of reaching goals 
C) to change goals 
D) to predict future events 
E) to change the reward system 
A) to improve past performances 
B) to search for alternative ways of reaching goals 
C) to change goals 
D) to predict future events 
E) to change the reward system

Question 14

Discuss the potential behavioural implications of performance evaluation.

Accepted Answer

As measurements are made on operations a

Question 15

Match each independent statement with the appropriate use of feedback.
A)Changing reward systems.
B)Changing how decision alternatives are identified.
C)Changing goals.
D)Changing the range of information collected in order to make predictions.
E)Changing managers.
F)Changing how the company operates.
-The Economic Order Quantity (EOQ)and reorder points of the inventory system are being converted to automatic processing on the computer to increase the information for forecasting inventory demand.

Accepted Answer

The answer of Match each independent statement with the appropriate...

Question 16

The ________ is primarily responsible for the quality of the information supplied in both internal and external reports.

Accepted Answer

A) COO (Chief Operating Officer) 
B) CIO (Chief Information Officer) 
C) treasurer 
D) controller 
E) accountant 
A) COO (Chief Operating Officer) 
B) CIO (Chief Information Officer) 
C) treasurer 
D) controller 
E) accountant

Question 17

Match each independent statement with the appropriate use of feedback.
A)Changing reward systems.
B)Changing how decision alternatives are identified.
C)Changing goals.
D)Changing the range of information collected in order to make predictions.
E)Changing managers.
F)Changing how the company operates.
-Local Computer Company incorporates average inflation forecasts for wages when predicting future labour costs.

Accepted Answer

The answer of Match each independent statement with the appropriate...

Question 18

In what way do managers benefit from the use of a management information system?

Accepted Answer

A) Data can be entered at numerous input terminals within the organization. 
B) The managers would not be completely responsible for the information that is entered into the database system. 
C) The managers could combine or adjust data to answer the questions from particular internal and external users. 
D) The managers do not benefit, as the information requires technical expertise to retrieve. 
E) Managers can store old documents in hard copy. 
A) Data can be entered at numerous input terminals within the organization. 
B) The managers would not be completely responsible for the information that is entered into the database system. 
C) The managers could combine or adjust data to answer the questions from particular internal and external users. 
D) The managers do not benefit, as the information requires technical expertise to retrieve. 
E) Managers can store old documents in hard copy.

Question 19

Key success factors such as quality, time, and the provision of innovative products and services, must be executed well to achieve corporate performance.

Accepted Answer

A) True 
 B)False

Question 20

Management accounting is guided by generally accepted accounting principles.

Accepted Answer

A) True 
 B)False

The person(s)directly responsible for the attainment of organizational objectives is/are

What aspect of business analysis focuses on the sequence of business functions?

Which of the following statements is TRUE regarding sustainability accounting?

Strategy specifies

In designing strategy, a company must match the opportunities and threats in the marketplace with

The value chain includes the following functions: research and development; design of products, services, or processes; production; marketing; distribution; customer service; and management satisfaction.

R&D, production, and customer service are business functions that are all included as part of

Hardcover Company incurs the following costs when it manufactures books.Match each one of them to one of the value chain functions listed. A)production B)distribution C)marketing D)research and development -cost of paper used in display at national trade show

Management accountants are required to follow the generally accepted accounting principles that are used for external financial reporting when preparing reports for internal users.

An accountant, as a member of a professional organization, must follow only those ethical requirements as are prescribed by the organization they belong to, such as the Chartered Professional Accountants of Canada.

Which of the following is NOT a use of feedback, from a manager's perspective?

Discuss the potential behavioural implications of performance evaluation.

The ________ is primarily responsible for the quality of the information supplied in both internal and external reports.

In what way do managers benefit from the use of a management information system?

Key success factors such as quality, time, and the provision of innovative products and services, must be executed well to achieve corporate performance.

Management accounting is guided by generally accepted accounting principles.

An Introduction to Cost Terms and Purposes

Cost-Volume-Profit Analysis

Job Costing

Activity-Based Costing and Management

Master Budget and Responsibility Accounting

Flexible Budgets, Variances, and Management Control: I

Flexible Budgets, Variances, and Management Control: II

Income Effects of Denominator Level on Inventory Valuation

Analysis of Cost Behaviour

Decision Making and Relevant Information

Pricing Decisions, Product Profitability Decisions, and Cost Management

Strategy, Balanced Scorecard, and Profitability Analysis

Period Cost Allocation

Cost Allocation: Joint Products and Byproducts

Revenue and Customer Profitability Analysis

Process Costing

Spoilage, Rework, and Scrap

Inventory Cost Management Strategies

Capital Budgeting: Methods of Investment Analysis

Transfer Pricing and Multinational Management Control Systems

Multinational Performance Measurement and Compensation

Filters

Exam 1: The Accountants Vital Role in Decision Making

The person(s)directly responsible for the attainment of organizational objectives is/are

What aspect of business analysis focuses on the sequence of business functions?

Which of the following statements is TRUE regarding sustainability accounting?

Strategy specifies

In designing strategy, a company must match the opportunities and threats in the marketplace with

The value chain includes the following functions: research and development; design of products, services, or processes; production; marketing; distribution; customer service; and management satisfaction.

R&D, production, and customer service are business functions that are all included as part of

Hardcover Company incurs the following costs when it manufactures books.Match each one of them to one of the value chain functions listed. A)production B)distribution C)marketing D)research and development -cost of paper used in display at national trade show

Management accountants are required to follow the generally accepted accounting principles that are used for external financial reporting when preparing reports for internal users.

An accountant, as a member of a professional organization, must follow only those ethical requirements as are prescribed by the organization they belong to, such as the Chartered Professional Accountants of Canada.

Which of the following is NOT a use of feedback, from a manager's perspective?

Discuss the potential behavioural implications of performance evaluation.

The ________ is primarily responsible for the quality of the information supplied in both internal and external reports.

In what way do managers benefit from the use of a management information system?

Key success factors such as quality, time, and the provision of innovative products and services, must be executed well to achieve corporate performance.

Management accounting is guided by generally accepted accounting principles.

An Introduction to Cost Terms and Purposes

Cost-Volume-Profit Analysis

Job Costing

Activity-Based Costing and Management

Master Budget and Responsibility Accounting

Flexible Budgets, Variances, and Management Control: I

Flexible Budgets, Variances, and Management Control: II

Income Effects of Denominator Level on Inventory Valuation

Analysis of Cost Behaviour

Decision Making and Relevant Information

Pricing Decisions, Product Profitability Decisions, and Cost Management

Strategy, Balanced Scorecard, and Profitability Analysis

Period Cost Allocation

Cost Allocation: Joint Products and Byproducts

Revenue and Customer Profitability Analysis

Process Costing

Spoilage, Rework, and Scrap

Inventory Cost Management Strategies

Capital Budgeting: Methods of Investment Analysis

Transfer Pricing and Multinational Management Control Systems

Multinational Performance Measurement and Compensation

Filters