Question 1

Accounting activities within an organization are usually under the overall supervision of the

Accepted Answer

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

Question 2

The Certificate of Public Accounting does not include the right to serve as external auditors.

Accepted Answer

A) True 
 B)False  False

Question 3

The Certified Internal Auditor must pass a comprehensive examination designed to ensure technical competence and have two years' work experience.

Accepted Answer

A) True 
 B)False  True

Question 4

Explain what is meant by confidentiality and why it is important.

Accepted Answer

Management accountants are entrusted wit

Question 5

Which of the following does NOT describe cost management system?

Accepted Answer

A)  evaluation of segments or products within the firm 
B)  emphasis on the future 
C)  externally focused 
D)  focus on effective use of resources 
A)  evaluation of segments or products within the firm 
B)  emphasis on the future 
C)  externally focused 
D)  focus on effective use of resources

Question 6

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 7

Setting the selling price of a company's product 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 8

The type of management which broadens the focus of accounting because it is concerned with factors that drive costs, such as cycle time and process productivity is called:.

Accepted Answer

A)  Cost accounting 
B)  Cost management 
C)  Financial management 
D)  Financial accounting 
A)  Cost accounting 
B)  Cost management 
C)  Financial management 
D)  Financial accounting

Question 9

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 10

The cost management information system is concerned with

Accepted Answer

A)  reporting financial information according to GAAP. 
B)  providing cost information that is used in planning, control, and decision-making. 
C)  reporting to external users. 
D)  providing financial information to investors. 
A)  reporting financial information according to GAAP. 
B)  providing cost information that is used in planning, control, and decision-making. 
C)  reporting to external users. 
D)  providing financial information to investors.

Question 11

Manufacturing environment automation is associated with increases in

Accepted Answer

A)  inventory. 
B)  productive capacity. 
C)  processing time. 
D)  none of these. 
A)  inventory. 
B)  productive capacity. 
C)  processing time. 
D)  none of these.

Question 12

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 13

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)  none of the above 
A)  planning. 
B)  control. 
C)  decision making. 
D)  none of the above

Question 14

Which of the following is NOT part of the financial accounting information system?

Accepted Answer

A)  filing reports with the SEC 
B)  reporting a large contingent liability to current and potential shareholders 
C)  determining the future cash flows of a proposed flexible manufacturing system 
D)  preparing GAAP financial statements 
A)  filing reports with the SEC 
B)  reporting a large contingent liability to current and potential shareholders 
C)  determining the future cash flows of a proposed flexible manufacturing system 
D)  preparing GAAP financial statements

Question 15

Which of the following approaches have led to advancements in the manufacturing environment?

Accepted Answer

A)  theory of constraints 
B)  computer-integrated manufacturing 
C)  JIT manufacturing 
D)  all of these 
A)  theory of constraints 
B)  computer-integrated manufacturing 
C)  JIT manufacturing 
D)  all of these

Question 16

Any form of commerce that is executed using information and communications technology is called:

Accepted Answer

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

Question 17

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 18

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

Accepted Answer

A)  personnel department manager 
B)  production supervisor 
C)  treasurer 
D)  purchasing department manager 
A)  personnel department manager 
B)  production supervisor 
C)  treasurer 
D)  purchasing department manager

Question 19

When a management accountant attends training seminars on new FASB rules, which part of the IMA Code of Conduct is being observed?

Accepted Answer

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

Question 20

Which of the following is NOT provided by cost accountants?

Accepted Answer

A)  cost information in accordance with GAAP 
B)  cost information about processes and activities 
C)  financial information for external users 
D)  cost information about products, customers, and services 
A)  cost information in accordance with GAAP 
B)  cost information about processes and activities 
C)  financial information for external users 
D)  cost information about products, customers, and services

Accounting activities within an organization are usually under the overall supervision of the

The Certificate of Public Accounting does not include the right to serve as external auditors.

The Certified Internal Auditor must pass a comprehensive examination designed to ensure technical competence and have two years' work experience.

Explain what is meant by confidentiality and why it is important.

Which of the following does NOT describe cost management system?

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

Setting the selling price of a company's product is an example of

The type of management which broadens the focus of accounting because it is concerned with factors that drive costs, such as cycle time and process productivity is called:.

Software that has integrated system capability using real time data is

The cost management information system is concerned with

Manufacturing environment automation is associated with increases in

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

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

Which of the following is NOT part of the financial accounting information system?

Which of the following approaches have led to advancements in the manufacturing environment?

Any form of commerce that is executed using information and communications technology is called:

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

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

When a management accountant attends training seminars on new FASB rules, which part of the IMA Code of Conduct is being observed?

Which of the following is NOT provided by cost 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

Accounting activities within an organization are usually under the overall supervision of the

The Certificate of Public Accounting does not include the right to serve as external auditors.

The Certified Internal Auditor must pass a comprehensive examination designed to ensure technical competence and have two years' work experience.

Explain what is meant by confidentiality and why it is important.

Which of the following does NOT describe cost management system?

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

Setting the selling price of a company's product is an example of

The type of management which broadens the focus of accounting because it is concerned with factors that drive costs, such as cycle time and process productivity is called:.

Software that has integrated system capability using real time data is

The cost management information system is concerned with

Manufacturing environment automation is associated with increases in

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

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

Which of the following is NOT part of the financial accounting information system?

Which of the following approaches have led to advancements in the manufacturing environment?

Any form of commerce that is executed using information and communications technology is called:

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

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

When a management accountant attends training seminars on new FASB rules, which part of the IMA Code of Conduct is being observed?

Which of the following is NOT provided by cost 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