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

The certification sponsored by the Institute of Management Accountants that emphasizes economics, finance, management, financial accounting and reporting, management reporting, and decision analysis is the

Accepted Answer

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

Question 3

In resolving an ethical conflict, which of the following would NEVER be appropriate?

Accepted Answer

A)  discussing the matter with the chief executive officer 
B)  discussing the matter with an external member of the board of directors 
C)  taking the matter to the press where there is no legal requirement 
D)  resigning from the position because of a conflict 
A)  discussing the matter with the chief executive officer 
B)  discussing the matter with an external member of the board of directors 
C)  taking the matter to the press where there is no legal requirement 
D)  resigning from the position because of a conflict

Question 4

Firms subject to the Sarbanes-Oxley Act of 2002 do not have to disclose whether they have a code of ethics for senior financial officers, nor why.

Accepted Answer

A) True 
 B)False

Question 5

The cost management information system is primarily concerned with producing outputs for external users.

Accepted Answer

A) True 
 B)False

Question 6

What is the role of the controller in an organization? Describe some of the activities over which he or she has control.

Accepted Answer

The controller is responsible for both i

Question 7

The Controller of a company supervises all the accounting departments and is often viewed as a member of the top management team.

Accepted Answer

A) True 
 B)False

Question 8

The cost management subsystem designed to assign costs to individual products and services is called the
information system.

Accepted Answer

The answer of The cost management subsystem designed to assign...

Question 9

Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.

Accepted Answer

A service industry company will be inter

Question 10

The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system.

Accepted Answer

A) True 
 B)False

Question 11

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 12

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 13

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 14

Evaluating the performance of a segment of the company is an example of planning.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following 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 16

Which of the following is a staff position?

Accepted Answer

A)  vice president of production 
B)  vice president of finance 
C)  vice president of marketing 
D)  plant foreman 
A)  vice president of production 
B)  vice president of finance 
C)  vice president of marketing 
D)  plant foreman

Question 17

Positions that have direct responsibility for basic objectives are referred to as staff positions, and those indirectly responsible are called line positions.

Accepted Answer

A) True 
 B)False

Question 18

Persons in the United States who provide external auditing services are designated as

Accepted Answer

A)  Certified Public Accountants. 
B)  Certified Financial Accountants. 
C)  Chartered Accountants. 
D)  Certified Management Accountants. 
A)  Certified Public Accountants. 
B)  Certified Financial Accountants. 
C)  Chartered Accountants. 
D)  Certified Management Accountants.

Question 19

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 20

In resolving an ethical conflict, it would be appropriate to take the matter to the press where there's no legal requirement.

Accepted Answer

A) True 
 B)False

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

The certification sponsored by the Institute of Management Accountants that emphasizes economics, finance, management, financial accounting and reporting, management reporting, and decision analysis is the

In resolving an ethical conflict, which of the following would NEVER be appropriate?

Firms subject to the Sarbanes-Oxley Act of 2002 do not have to disclose whether they have a code of ethics for senior financial officers, nor why.

The cost management information system is primarily concerned with producing outputs for external users.

What is the role of the controller in an organization? Describe some of the activities over which he or she has control.

The Controller of a company supervises all the accounting departments and is often viewed as a member of the top management team.

The cost management subsystem designed to assign costs to individual products and services is called the information system.

Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.

The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system.

All of the following would be considered staff functions EXCEPT the

The operational control system is concerned with

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?

Evaluating the performance of a segment of the company is an example of planning.

Which of the following is the officer responsible for money management and serves chiefly as the custodian of the organization's funds?

Which of the following is a staff position?

Positions that have direct responsibility for basic objectives are referred to as staff positions, and those indirectly responsible are called line positions.

Persons in the United States who provide external auditing services are designated as

A critical measure of efficiency is

In resolving an ethical conflict, it would be appropriate to take the matter to the press where there's no legal requirement.

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

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Exam 1: Introduction to Cost Management

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

The certification sponsored by the Institute of Management Accountants that emphasizes economics, finance, management, financial accounting and reporting, management reporting, and decision analysis is the

In resolving an ethical conflict, which of the following would NEVER be appropriate?

Firms subject to the Sarbanes-Oxley Act of 2002 do not have to disclose whether they have a code of ethics for senior financial officers, nor why.

The cost management information system is primarily concerned with producing outputs for external users.

What is the role of the controller in an organization? Describe some of the activities over which he or she has control.

The Controller of a company supervises all the accounting departments and is often viewed as a member of the top management team.

The cost management subsystem designed to assign costs to individual products and services is called the information system.

Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.

The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system.

All of the following would be considered staff functions EXCEPT the

The operational control system is concerned with

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?

Evaluating the performance of a segment of the company is an example of planning.

Which of the following is the officer responsible for money management and serves chiefly as the custodian of the organization's funds?

Which of the following is a staff position?

Positions that have direct responsibility for basic objectives are referred to as staff positions, and those indirectly responsible are called line positions.

Persons in the United States who provide external auditing services are designated as

A critical measure of efficiency is

In resolving an ethical conflict, it would be appropriate to take the matter to the press where there's no legal requirement.

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