ManagerialAccounting

Chapter 1

The managers of an organization are responsible for performing several broad functions. They are….?

C

Management accountants help the management of an organization in their planning function through ________.

B

Which of the following is a primary aspect of the evaluating function within an
organization?

A

During the control function, the measurements taken of the performance must be accurate enough to see ________.

B

Which of the following is false regarding strategic planning?

A

Managerial accounting produces information:

B

Management accounting:

A

Internal users of accounting information would not include ________.

C

External users of accounting information would include ________.

C

Which of the following statements is incorrect?

C

The stockholders of a company are:

A

The controller of a corporation:

B

The Certified Financial Analyst (CFA) certification:

C

The Certified Management Accountant (CMA) certification:

C

Which of the following terms means the ability to work in cross-functional teams in order to complete a task?

C

Which of the following terms means knowing how a business is run and how it is influenced by external forces, and knowing and understanding the overall industry?

A

What is the law that protects investors from fraudulent financial accounting activity?

C- Sarbanes-Oxley Act

What year was the Sarbanes-Oxley Act enacted?

B

When a representative of an organization gives money to another business official in order to gain favor and/or manipulate a business decision, this is known as ________.

B

The law that specifically prohibits payments to foreign officials in order to attain business is known as ________.

A- Foreign Corrupt Practices Act implemented in 1977

Which of the following is not a step in the outline for examining ethical issues?

C

Which of the following is not an objective used in the balanced scorecard approach?

C

Which of the following is not true regarding continuous improvement?

B

A company’s attempts to utilize sustainable business practices with regard to its employees, the environment, and society are known as ________.

B

A process that is often linked to Six Sigma and is designed toward continuous improvement by eliminating waste is ________.

C

An inventory system that organizations use to increase efficiency and decrease waste is ________.

B

A quality control program that depends on multiple team members for removing waste and diminishing defects within products is ________. (LSS)

C