Question 1

The manager has to decide what tasks are needed and how they should be accomplished.This statement describes

Accepted Answer

A)  the organization chart. 
B)  planning. 
C)  organizing. 
D)  none of these. 
A)  the organization chart. 
B)  planning. 
C)  organizing. 
D)  none of these.

Question 2

Which of the following activities is NOT associated with strategic analysis and new product development?

Accepted Answer

A)  life-cycle costing 
B)  target costing 
C)  activity-based management 
D)  performance reports 
A)  life-cycle costing 
B)  target costing 
C)  activity-based management 
D)  performance reports

Question 3

Monitoring the number of defects produced is an example of the management function of

Accepted Answer

A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and c. 
A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and c.

Question 4

When a management accountant ignores data in favor of unsupported opinion, this action would speak most directly to which part of the IMA Code of Conduct?

Accepted Answer

A)  competence 
B)  confidentiality 
C)  independence 
D)  credibility 
A)  competence 
B)  confidentiality 
C)  independence 
D)  credibility

Question 5

Which of the following activities is NOT significant to the advancement of information technology?

Accepted Answer

A)  enterprise resource planning software 
B)  emergence of electronic commerce 
C)  theory of constraints 
D)  decision support systems 
A)  enterprise resource planning software 
B)  emergence of electronic commerce 
C)  theory of constraints 
D)  decision support systems

Question 6

The Standards of Ethical professional Practice of the Institute of management Accountants addresses all of the following EXCEPT

Accepted Answer

A)  competence 
B)  confidentiality 
C)  strategic cost management 
D)  integrity 
A)  competence 
B)  confidentiality 
C)  strategic cost management 
D)  integrity

Question 7

Which of the following is a cost management subsystem designed to assign costs to individual products and services and other objects, as specified by management

Accepted Answer

A)  financial accounting information system 
B)  operational control system 
C)  cost accounting information system 
D)  all of the above 
A)  financial accounting information system 
B)  operational control system 
C)  cost accounting information system 
D)  all of the above

Question 8

Disclosing all information, unfavorable as well as favorable, that could influence an intended user's understanding of reports, would relate to what section of the IMA Code of Conduct?

Accepted Answer

A)  competence 
B)  independence 
C)  integrity 
D)  credibility 
A)  competence 
B)  independence 
C)  integrity 
D)  credibility

Question 9

Which of the following duties is usually assigned to the controller?

Accepted Answer

A)  receiving, maintaining custody of, and disbursing monies and securities 
B)  directing the granting of credit to clients 
C)  investing the organization's funds 
D)  tax planning 
A)  receiving, maintaining custody of, and disbursing monies and securities 
B)  directing the granting of credit to clients 
C)  investing the organization's funds 
D)  tax planning

Question 10

Contrast the role of the financial vice president, the controller, and the treasurer.

Accepted Answer

The financial vice president reports to

Question 11

You are a management accountant for the Eugene Division of Lowden Company.Your longtime friend, David Orth, is the Eugene Division manager.David was instrumental in helping you obtain your current position.Because the manager's annual bonus is based on the amount of profit the Eugene Division reports for the year, David has asked you to "massage the numbers" to make the Eugene Division appear more profitable.
Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to David Orth's request?

Accepted Answer

According to the Standards of Ethical Co

Question 12

What are the two major subsystems of the Cost Management System and why are they important?

Accepted Answer

A cost management system consists of two

Question 13

Which of the following activities is NOT associated with the cost management information system?

Accepted Answer

A)  preparing a cost of quality report 
B)  preparing a performance report that compares actual costs to budgeted costs 
C)  determining the cost of a customer 
D)  using future expected earnings to estimate the price of a share of common stock 
A)  preparing a cost of quality report 
B)  preparing a performance report that compares actual costs to budgeted costs 
C)  determining the cost of a customer 
D)  using future expected earnings to estimate the price of a share of common stock

Question 14

The primary objective of the cost management information system is to provide

Accepted Answer

A)  stockholders and potential investors with useful information for decision making. 
B)  banks and other creditors with information useful in making credit decisions. 
C)  management with information useful for planning and control of operations. 
D)  the Internal Revenue Service with information about taxable income. 
A)  stockholders and potential investors with useful information for decision making. 
B)  banks and other creditors with information useful in making credit decisions. 
C)  management with information useful for planning and control of operations. 
D)  the Internal Revenue Service with information about taxable income.

Question 15

Determining the bid your company should submit on a construction contract is an example of

Accepted Answer

A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and b. 
A)  planning. 
B)  control. 
C)  decision making. 
D)  both a and b.

The manager has to decide what tasks are needed and how they should be accomplished.This statement describes

Which of the following activities is NOT associated with strategic analysis and new product development?

Monitoring the number of defects produced is an example of the management function of

When a management accountant ignores data in favor of unsupported opinion, this action would speak most directly to which part of the IMA Code of Conduct?

Which of the following activities is NOT significant to the advancement of information technology?

The Standards of Ethical professional Practice of the Institute of management Accountants addresses all of the following EXCEPT

Which of the following is a cost management subsystem designed to assign costs to individual products and services and other objects, as specified by management

Disclosing all information, unfavorable as well as favorable, that could influence an intended user's understanding of reports, would relate to what section of the IMA Code of Conduct?

Which of the following duties is usually assigned to the controller?

Contrast the role of the financial vice president, the controller, and the treasurer.

What are the two major subsystems of the Cost Management System and why are they important?

Which of the following activities is NOT associated with the cost management information system?

The primary objective of the cost management information system is to provide

Determining the bid your company should submit on a construction contract is an example of

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

The manager has to decide what tasks are needed and how they should be accomplished.This statement describes

Which of the following activities is NOT associated with strategic analysis and new product development?

Monitoring the number of defects produced is an example of the management function of

When a management accountant ignores data in favor of unsupported opinion, this action would speak most directly to which part of the IMA Code of Conduct?

Which of the following activities is NOT significant to the advancement of information technology?

The Standards of Ethical professional Practice of the Institute of management Accountants addresses all of the following EXCEPT

Which of the following is a cost management subsystem designed to assign costs to individual products and services and other objects, as specified by management

Disclosing all information, unfavorable as well as favorable, that could influence an intended user's understanding of reports, would relate to what section of the IMA Code of Conduct?

Which of the following duties is usually assigned to the controller?

Contrast the role of the financial vice president, the controller, and the treasurer.

What are the two major subsystems of the Cost Management System and why are they important?

Which of the following activities is NOT associated with the cost management information system?

The primary objective of the cost management information system is to provide

Determining the bid your company should submit on a construction contract is an example of

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