Question 1

Which of the following activities is associated with the cost management information system?

Accepted Answer

A)  preparing reports for division managers 
B)  preparing reports for the IRS 
C)  preparing reports for the SEC 
D)  preparing financial statements that conform to GAAP 
A)  preparing reports for division managers 
B)  preparing reports for the IRS 
C)  preparing reports for the SEC 
D)  preparing financial statements that conform to GAAP

Question 2

Which of the following is NOT a process associated with an accounting information system?

Accepted Answer

A)  auditing existing data 
B)  collecting and recording data 
C)  providing information to users 
D)  analyzing and managing data 
A)  auditing existing data 
B)  collecting and recording data 
C)  providing information to users 
D)  analyzing and managing data

Question 3

A critical measure of efficiency is

Accepted Answer

A)  the cost of activity. 
B)  a T-test. 
C)  customer satisfaction. 
D)  employee job satisfaction. 
A)  the cost of activity. 
B)  a T-test. 
C)  customer satisfaction. 
D)  employee job satisfaction.

Question 4

The setting of objectives and the identification of methods to achieve those objectives is called

Accepted Answer

A)  planning. 
B)  controlling. 
C)  performance evaluation. 
D)  decision making. 
A)  planning. 
B)  controlling. 
C)  performance evaluation. 
D)  decision making.

Question 5

Discuss the advances of information technology and how these advances might affect the university education supply chain?

Accepted Answer

There are three significant advances rel

Question 6

Which of the following is NOT an advance in information technology that affects firms?

Accepted Answer

A)  computer integrated applications 
B)  GAAP reporting 
C)  emergence of electronic commerce 
D)  availability of tools such as OLAP and DSS 
A)  computer integrated applications 
B)  GAAP reporting 
C)  emergence of electronic commerce 
D)  availability of tools such as OLAP and DSS

Question 7

____________________ is any form of commerce that is executed using information and communications technology.

Accepted Answer

A)  ERP 
B)  OLAP 
C)  electronic commerce 
D)  DSS 
A)  ERP 
B)  OLAP 
C)  electronic commerce 
D)  DSS

Question 8

The _______________ is the officer responsible for money management and serves chiefly as the custodian of the organization's funds.

Accepted Answer

A)  Certified Public Accountant 
B)  controller 
C)  Chartered Accountant 
D)  treasurer 
A)  Certified Public Accountant 
B)  controller 
C)  Chartered Accountant 
D)  treasurer

Question 9

Which of the following relates to the credibility section of the IMA Code of Conduct?

Accepted Answer

A)  Prepare clear and complete reports. 
B)  Communicate professional limitations. 
C)  Avoid actual or apparent conflicts of interest. 
D)  Communicate information fairly and objectively. 
A)  Prepare clear and complete reports. 
B)  Communicate professional limitations. 
C)  Avoid actual or apparent conflicts of interest. 
D)  Communicate information fairly and objectively.

Question 10

In an accounting information system, the inputs are usually

Accepted Answer

A)  financial statements. 
B)  analyzing data. 
C)  performance reports. 
D)  economic events. 
A)  financial statements. 
B)  analyzing data. 
C)  performance reports. 
D)  economic events.

Question 11

Total quality management emphasizes

Accepted Answer

A)  zero defects. 
B)  continual improvement. 
C)  elimination of waste. 
D)  all of these. 
A)  zero defects. 
B)  continual improvement. 
C)  elimination of waste. 
D)  all of these.

Question 12

The increased importance of costing our activities in the value chain and determining the cost of different suppliers and customers has led to the emergence of

Accepted Answer

A)  OLAP. 
B)  EDI and supply chain management. 
C)  CAM. 
D)  theory of constraints. 
A)  OLAP. 
B)  EDI and supply chain management. 
C)  CAM. 
D)  theory of constraints.

Question 13

The formulation of a program for the accomplishment of a specific purpose is referred to as

Accepted Answer

A)  controlling. 
B)  motivating. 
C)  organizing. 
D)  planning. 
A)  controlling. 
B)  motivating. 
C)  organizing. 
D)  planning.

Question 14

Which of the following positions would most likely be a staff manager?

Accepted Answer

A)  manager of a Sears store 
B)  president 
C)  manager of a clothing division 
D)  controller 
A)  manager of a Sears store 
B)  president 
C)  manager of a clothing division 
D)  controller

Question 15

Continuous improvement is

Accepted Answer

A)  critical in a dynamic environment. 
B)  important to finding and maintaining a competitive advantage. 
C)  an effort to find ways to increase overall efficiency, improve quality, and reduce costs. 
D)  all of these. 
A)  critical in a dynamic environment. 
B)  important to finding and maintaining a competitive advantage. 
C)  an effort to find ways to increase overall efficiency, improve quality, and reduce costs. 
D)  all of these.

Question 16

Which of the following would be considered a line function?

Accepted Answer

A)  production 
B)  maintenance 
C)  public relations 
D)  administrative services 
A)  production 
B)  maintenance 
C)  public relations 
D)  administrative services

Question 17

Improvement in time performance is most likely NOT enhanced by

Accepted Answer

A)  redesign of products. 
B)  adding processes in production. 
C)  eliminating waste. 
D)  eliminating non-value-added activities. 
A)  redesign of products. 
B)  adding processes in production. 
C)  eliminating waste. 
D)  eliminating non-value-added activities.

Question 18

The operational control system is concerned with

Accepted Answer

A)  investment decisions. 
B)  what activities should be performed and assessing how well they are performed. 
C)  consumption of productive resources by individual products. 
D)  none of these. 
A)  investment decisions. 
B)  what activities should be performed and assessing how well they are performed. 
C)  consumption of productive resources by individual products. 
D)  none of these.

Question 19

All of the following would be considered staff functions EXCEPT the

Accepted Answer

A)  vice president of finance. 
B)  vice president of corporate planning. 
C)  vice president of marketing. 
D)  vice president of research and development. 
A)  vice president of finance. 
B)  vice president of corporate planning. 
C)  vice president of marketing. 
D)  vice president of research and development.

Question 20

Performance reports are accounting reports that compare

Accepted Answer

A)  planned data with actual data. 
B)  audited data with actual data. 
C)  managers' bonuses with performance ratings by supervisors. 
D)  actual data with industry standards. 
A)  planned data with actual data. 
B)  audited data with actual data. 
C)  managers' bonuses with performance ratings by supervisors. 
D)  actual data with industry standards.

Which of the following activities is associated with the cost management information system?

Which of the following is NOT a process associated with an accounting information system?

A critical measure of efficiency is

The setting of objectives and the identification of methods to achieve those objectives is called

Discuss the advances of information technology and how these advances might affect the university education supply chain?

Which of the following is NOT an advance in information technology that affects firms?

____________________ is any form of commerce that is executed using information and communications technology.

The _______________ is the officer responsible for money management and serves chiefly as the custodian of the organization's funds.

Which of the following relates to the credibility section of the IMA Code of Conduct?

In an accounting information system, the inputs are usually

Total quality management emphasizes

The increased importance of costing our activities in the value chain and determining the cost of different suppliers and customers has led to the emergence of

The formulation of a program for the accomplishment of a specific purpose is referred to as

Which of the following positions would most likely be a staff manager?

Continuous improvement is

Which of the following would be considered a line function?

Improvement in time performance is most likely NOT enhanced by

The operational control system is concerned with

All of the following would be considered staff functions EXCEPT the

Performance reports are accounting reports that compare

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters

Exam 1: Introduction to Cost Management

Which of the following activities is associated with the cost management information system?

Which of the following is NOT a process associated with an accounting information system?

A critical measure of efficiency is

The setting of objectives and the identification of methods to achieve those objectives is called

Discuss the advances of information technology and how these advances might affect the university education supply chain?

Which of the following is NOT an advance in information technology that affects firms?

____________________ is any form of commerce that is executed using information and communications technology.

The _______________ is the officer responsible for money management and serves chiefly as the custodian of the organization's funds.

Which of the following relates to the credibility section of the IMA Code of Conduct?

In an accounting information system, the inputs are usually

Total quality management emphasizes

The increased importance of costing our activities in the value chain and determining the cost of different suppliers and customers has led to the emergence of

The formulation of a program for the accomplishment of a specific purpose is referred to as

Which of the following positions would most likely be a staff manager?

Continuous improvement is

Which of the following would be considered a line function?

Improvement in time performance is most likely NOT enhanced by

The operational control system is concerned with

All of the following would be considered staff functions EXCEPT the

Performance reports are accounting reports that compare

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters