Question 1

In an accounting information system, which of the following is NOT a transformational process?

Accepted Answer

A)  collecting data 
B)  analyzing data 
C)  performance reporting 
D)  summarizing data 
A)  collecting data 
B)  analyzing data 
C)  performance reporting 
D)  summarizing data

Question 2

Cost management information systems further competitive advantage by supporting three fundamental organizational goals.Which of the following is NOT one of these fundamental organizational goals that further competitive advantage?

Accepted Answer

A)  improved time-based performance 
B)  improved quality of products and services 
C)  maximizing shareholder value 
D)  improved efficiency 
A)  improved time-based performance 
B)  improved quality of products and services 
C)  maximizing shareholder value 
D)  improved efficiency

Question 3

How has the nature of accounting systems shifted in response to technology?

Accepted Answer

ERP, DSS, and OLAP software have allowed

Question 4

Briefly discuss the relationship between cost accounting, management accounting, and cost management?

Accepted Answer

Management accounting is concerned with

Question 5

Discuss how the goal of profit maximization is affected by ethical considerations.What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

Accepted Answer

The objective of profit maximization sho

Question 6

The acceptance of a savings bond from a supplier would be a violation of which standard of ethical conduct for management accountants?

Accepted Answer

A)  confidentiality 
B)  integrity 
C)  reliability 
D)  none of these 
A)  confidentiality 
B)  integrity 
C)  reliability 
D)  none of these

Question 7

Comparing actual quality costs with planned quality costs is an example of

Accepted Answer

A)  planning. 
B)  controlling. 
C)  performance evaluation. 
D)  both b and c. 
A)  planning. 
B)  controlling. 
C)  performance evaluation. 
D)  both b and c.

Question 8

Developing a company strategy for responding to anticipated new markets is an example of

Accepted Answer

A)  planning. 
B)  control. 
C)  decision making. 
D)  all of these. 
A)  planning. 
B)  control. 
C)  decision making. 
D)  all of these.

Question 9

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

Accepted Answer

Companies can establish a culture and at

Question 10

Discuss the three forms of accounting certification.Which form of certification do you believe is best for management accountants? Why?

Accepted Answer

The three forms of certification are the

Question 11

The chief accounting officer of an organization is the

Accepted Answer

A)  vice president of finance. 
B)  internal auditor. 
C)  treasurer. 
D)  controller. 
A)  vice president of finance. 
B)  internal auditor. 
C)  treasurer. 
D)  controller.

Question 12

_______________ is devoted to providing information for external users.

Accepted Answer

A)  Management accounting 
B)  Financial accounting 
C)  Internal accounting 
D)  Cost accounting 
A)  Management accounting 
B)  Financial accounting 
C)  Internal accounting 
D)  Cost accounting

Question 13

In resolving an ethical conflict, it is inappropriate to discuss the problem with the immediate supervisor because of a violation of which standard of ethical conduct for management accountants?

Accepted Answer

A)  competence 
B)  confidentiality 
C)  credibility 
D)  This action is not in violation of the code of conduct. 
A)  competence 
B)  confidentiality 
C)  credibility 
D)  This action is not in violation of the code of conduct.

Question 14

The planning process includes

Accepted Answer

A)  setting objectives. 
B)  identifying means of achieving the objectives. 
C)  making decisions. 
D)  all of these. 
A)  setting objectives. 
B)  identifying means of achieving the objectives. 
C)  making decisions. 
D)  all of these.

Question 15

Software that has integrated system capability using real time data is

Accepted Answer

A)  enterprise resource planning software. 
B)  on-line analytic programs. 
C)  computer-assisted engineering software. 
D)  none of these. 
A)  enterprise resource planning software. 
B)  on-line analytic programs. 
C)  computer-assisted engineering software. 
D)  none of these.

Question 16

An accountant certified to possess the minimal professional qualifications for an external auditor is a

Accepted Answer

A)  CPA. 
B)  CMA. 
C)  CIA. 
D)  all of these. 
A)  CPA. 
B)  CMA. 
C)  CIA. 
D)  all of these.

Question 17

Managers are considering outsourcing subcomponents of production.Data is collected about the costs of making the subcomponent.Different bids are sought about the purchase of the subcomponents.Which managerial activity is applicable in this situation?

Accepted Answer

A)  control 
B)  continuous improvement 
C)  planning 
D)  decision making 
A)  control 
B)  continuous improvement 
C)  planning 
D)  decision making

Question 18

The IMA has a program to recognize professional competence and educational attainment in the field of management accounting.The program leads to designation as a

Accepted Answer

A)  Certified Management Accountant. 
B)  controller. 
C)  Chartered Accountant. 
D)  treasurer. 
A)  Certified Management Accountant. 
B)  controller. 
C)  Chartered Accountant. 
D)  treasurer.

Question 19

Which of the following have been found to be TRUE?

Accepted Answer

A)  Firms that emphasize ethics outperform firms that don't emphasize ethics. 
B)  Those corporations that mention ethics in their management reports have lower than average performance. 
C)  Companies with a strong code of ethics and sense of integrity and honor will have trouble competing over the long run. 
D)  All of these. 
A)  Firms that emphasize ethics outperform firms that don't emphasize ethics. 
B)  Those corporations that mention ethics in their management reports have lower than average performance. 
C)  Companies with a strong code of ethics and sense of integrity and honor will have trouble competing over the long run. 
D)  All of these.

Question 20

Extending the close of the fiscal year beyond December 31 so that some sales of next year are included in the current year would be a violation of which standard of ethical conduct for management accountants?

Accepted Answer

A)  competence 
B)  confidentiality 
C)  conformance 
D)  all of these 
A)  competence 
B)  confidentiality 
C)  conformance 
D)  all of these

In an accounting information system, which of the following is NOT a transformational process?

Cost management information systems further competitive advantage by supporting three fundamental organizational goals.Which of the following is NOT one of these fundamental organizational goals that further competitive advantage?

How has the nature of accounting systems shifted in response to technology?

Briefly discuss the relationship between cost accounting, management accounting, and cost management?

Discuss how the goal of profit maximization is affected by ethical considerations.What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

The acceptance of a savings bond from a supplier would be a violation of which standard of ethical conduct for management accountants?

Comparing actual quality costs with planned quality costs is an example of

Developing a company strategy for responding to anticipated new markets is an example of

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

Discuss the three forms of accounting certification.Which form of certification do you believe is best for management accountants? Why?

The chief accounting officer of an organization is the

_______________ is devoted to providing information for external users.

In resolving an ethical conflict, it is inappropriate to discuss the problem with the immediate supervisor because of a violation of which standard of ethical conduct for management accountants?

The planning process includes

Software that has integrated system capability using real time data is

An accountant certified to possess the minimal professional qualifications for an external auditor is a

Managers are considering outsourcing subcomponents of production.Data is collected about the costs of making the subcomponent.Different bids are sought about the purchase of the subcomponents.Which managerial activity is applicable in this situation?

The IMA has a program to recognize professional competence and educational attainment in the field of management accounting.The program leads to designation as a

Which of the following have been found to be TRUE?

Extending the close of the fiscal year beyond December 31 so that some sales of next year are included in the current year would be a violation of which standard of ethical conduct for management accountants?

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

In an accounting information system, which of the following is NOT a transformational process?

Cost management information systems further competitive advantage by supporting three fundamental organizational goals.Which of the following is NOT one of these fundamental organizational goals that further competitive advantage?

How has the nature of accounting systems shifted in response to technology?

Briefly discuss the relationship between cost accounting, management accounting, and cost management?

Discuss how the goal of profit maximization is affected by ethical considerations.What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

The acceptance of a savings bond from a supplier would be a violation of which standard of ethical conduct for management accountants?

Comparing actual quality costs with planned quality costs is an example of

Developing a company strategy for responding to anticipated new markets is an example of

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

Discuss the three forms of accounting certification.Which form of certification do you believe is best for management accountants? Why?

The chief accounting officer of an organization is the

_______________ is devoted to providing information for external users.

In resolving an ethical conflict, it is inappropriate to discuss the problem with the immediate supervisor because of a violation of which standard of ethical conduct for management accountants?

The planning process includes

Software that has integrated system capability using real time data is

An accountant certified to possess the minimal professional qualifications for an external auditor is a

Managers are considering outsourcing subcomponents of production.Data is collected about the costs of making the subcomponent.Different bids are sought about the purchase of the subcomponents.Which managerial activity is applicable in this situation?

The IMA has a program to recognize professional competence and educational attainment in the field of management accounting.The program leads to designation as a

Which of the following have been found to be TRUE?

Extending the close of the fiscal year beyond December 31 so that some sales of next year are included in the current year would be a violation of which standard of ethical conduct for management accountants?

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