Question 1

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 2

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 3

Cost management is the branch of accounting concerned with reporting to

Accepted Answer

A)  internal managers. 
B)  stockholders. 
C)  the government. 
D)  bankers. 
A)  internal managers. 
B)  stockholders. 
C)  the government. 
D)  bankers.

Question 4

Cost accounting

Accepted Answer

A)  is concerned with assigning costs to various cost objects. 
B)  attempts to satisfy the costing objectives of both financial accounting and management accounting. 
C)  provides cost information that supports planning, controlling, and decision making. 
D)  all of these. 
A)  is concerned with assigning costs to various cost objects. 
B)  attempts to satisfy the costing objectives of both financial accounting and management accounting. 
C)  provides cost information that supports planning, controlling, and decision making. 
D)  all of these.

Question 5

A computerized information system that strives to input data once and make it available to people across the company for different purposes is called a(n):

Accepted Answer

A)  cost management information system 
B)  enterprise resource planning system 
C)  internal accounting system 
D)  financial accounting system 
A)  cost management information system 
B)  enterprise resource planning system 
C)  internal accounting system 
D)  financial accounting system

Question 6

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 7

For each certification, all an applicant has to do is meet specific educational and experience requirements.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

The financial vice president reports to

Question 9

Altering dates of shipping documents of next January's sales to record them as sales in the current year would be a violation of which standard of ethical conduct for management accountants?

Accepted Answer

A)  competence 
B)  integrity 
C)  credibility 
D)  all of these 
A)  competence 
B)  integrity 
C)  credibility 
D)  all of these

Question 10

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 11

The Treasurer of a company is responsible for all taxation activities, including dealing with the IRS.

Accepted Answer

A) True 
 B)False

Question 12

Explain the relationship between the Cost Management System and the Financial Accounting System.

Accepted Answer

The cost management system is concerned

Question 13

Managers are considering outsourcing sub-components of production. Data is collected about the costs of making the sub-component. Different bids are sought about the purchase of the sub-components. 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 14

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 15

The internal auditor performs a

Accepted Answer

A)  line function. 
B)  staff function. 
C)  production function. 
D)  marketing function. 
A)  line function. 
B)  staff function. 
C)  production function. 
D)  marketing function.

Question 16

An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.

Accepted Answer

A) True 
 B)False

Question 17

One of the major advances in information technology that affects firms is the emergence of electronic commerce.

Accepted Answer

A) True 
 B)False

Question 18

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 19

Which of the following job positions is a staff position?

Accepted Answer

A)  controller 
B)  production vice president 
C)  production supervisor 
D)  assembly foreman 
A)  controller 
B)  production vice president 
C)  production supervisor 
D)  assembly foreman

Question 20

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

Improvement in time performance is most likely NOT enhanced by

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

Cost management is the branch of accounting concerned with reporting to

Cost accounting

A computerized information system that strives to input data once and make it available to people across the company for different purposes is called a(n):

The chief accounting officer of an organization is the

For each certification, all an applicant has to do is meet specific educational and experience requirements.

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

Altering dates of shipping documents of next January's sales to record them as sales in the current year would be a violation of which standard of ethical conduct for management accountants?

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 Treasurer of a company is responsible for all taxation activities, including dealing with the IRS.

Explain the relationship between the Cost Management System and the Financial Accounting System.

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

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

The internal auditor performs a

An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.

One of the major advances in information technology that affects firms is the emergence of electronic commerce.

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

Which of the following job positions is a staff position?

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

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

Improvement in time performance is most likely NOT enhanced by

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

Cost management is the branch of accounting concerned with reporting to

Cost accounting

A computerized information system that strives to input data once and make it available to people across the company for different purposes is called a(n):

The chief accounting officer of an organization is the

For each certification, all an applicant has to do is meet specific educational and experience requirements.

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

Altering dates of shipping documents of next January's sales to record them as sales in the current year would be a violation of which standard of ethical conduct for management accountants?

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 Treasurer of a company is responsible for all taxation activities, including dealing with the IRS.

Explain the relationship between the Cost Management System and the Financial Accounting System.

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

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

The internal auditor performs a

An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.

One of the major advances in information technology that affects firms is the emergence of electronic commerce.

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

Which of the following job positions is a staff position?

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

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