1. An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.
a.
True
b.
False
ANSWER:
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
LEARNING OBJECTIVES:
COCM.HANS.18.1-1 - LO: 01.01
NATIONAL STANDARDS:
United States - BUSPROG - Analytic
STATE STANDARDS:
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-10 - FN-MeasurementUnited States - v1 - IMA-08 - Information Management
KEYWORDS:
Bloom's - Remembering
NOTES:
Time Estimate - 5 min.
DATE CREATED:
10/7/2016 9:25 AM
DATE MODIFIED:
QUESTION ID:
JFND-GO33-GINU-1OJU
QUESTION GLOBAL ID:
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-GJUG-RP3S-GW5S-C3UB-8RSS-ECUD-CRSS-K3UR-GOSS-NCUD-GWSU-GP3W-GO3D-NATS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
2. The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system.
JFND-GO33-GINU-1OJ1
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-CR4U-C3DR-8R3S-G3JO-GOSS-RC3W-CRSS-NQDR-GOSS-RPT1-CASS-NAJ3-GT1U-QAUN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
3. The cost management information system is primarily concerned with producing outputs for external users.
Bloom's - Understanding
JFND-GO33-GINU-1OJT
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-CA4D-CPB3-GJTU-YCJT-CRSU-GAJS-CRSS-NPMD-GOSS-CCBO-8RSS-RCJZ-GFUG-GATU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
4. The three broad objectives of financial accounting information systems are to provide information for costing out services and products, planning and control, and decision making.
JFND-GO33-GINU-1OJO
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-GPTD-RP3O-CAHD-RCUF-GHSU-Y3UR-CESU-1PBS-GOSU-E3TT-GYSU-RPDD-8YAS-CCBA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
5. Preparing reports for division managers is an activity associated with the cost management information system.
Moderate
JFND-GO33-GINU-1OJZ
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJU-GOHU-KCTS-8BTU-GPT3-GHSS-K3DR-8YSS-K3UD-GOSS-RPBW-GASU-CAMB-GYAG-N3BZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
6. The cost management information system has two major subsystems: the cost accounting information system and the operational control information system.
JFND-GO33-GINU-1OJS
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-GPTU-CP3W-CO5S-KCT1-CWSS-E3MF-CRSU-KQJT-GOSS-EQJ1-8YSS-GPBU-8FOU-KA3I-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
7. Changes in the way business is conducted worldwide have broadened the focus of cost management accounting systems.
COCM.HANS.18.1-2 - LO: 01.02
JFND-GO33-GINU-1OJI
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-CC3U-QA5G-GRHU-YPJ1-COSS-CPDG-CRSU-KCTW-GOSU-E3JO-GCSS-KPUB-CFTS-KPBA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
8. One of the major advances in information technology that affects firms is the emergence of electronic commerce.
United States - BUSPROG - Technology
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-09 - FN-Leveraging TechnologyUnited States - v1 - IMA-08 - Information Management
JFND-GO33-GINU-1OJW
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GAHD-CPJS-CWAG-K3DF-GRSS-EAUF-8YSS-EPJI-GOSU-OAMG-GWSS-RQJ1-GHHG-EPUR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
9. The service sector of the U.S. economy has decreased in importance as traditional industries have declined in importance.
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-01 - BB-IndustryUnited States - v1 - IMA-02 - Global Business
JFND-GO33-GINU-1O1N
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-CEAD-CA3W-GC4D-NP3S-8YSU-OCJS-8RSS-N3JA-GOSU-Y3JI-GASU-NPTA-GITU-G3BO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
10. Enterprise resource planning (ERP) software has the objective of providing an integrated system capability and is able to run all the operations of a company.
JFND-GO33-GINU-1O1B
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-G7TS-NP33-CEHD-E3TT-GESU-YPJW-CESU-CQJA-GOSS-KQJ3-GRSU-Q3JU-GO3U-E3MB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
11. In just-in-time (JIT) manufacturing, each operation produces only what is necessary for the succeeding operations.
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-06 - BB-Resource ManagementUnited States - v1 - IMA-11 - Strategic Planning
JFND-GO33-GINU-1OT3
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJW-GFOU-CPTS-GOHU-GPTS-GESU-KA3W-8RSU-GPJZ-GOSS-R3DF-CESU-YPBT-GYHD-GCMR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
12. JIT is a critical part of a more comprehensive approach referred to as Lean Manufacturing.
JFND-GO33-GINU-1OTA
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJZ-8RHS-CAJ1-GJTU-GP5R-CESU-K3JZ-CRSU-CPB3-GOSS-NCUB-8RSU-K3JS-GCHU-GCTI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
13. The focus of Lean Manufacturing is to eliminate waste, which is anything that does not add value to the end user (customer).
JFND-GO33-GINU-1O1G
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-GR4S-EQDN-CJTD-NPDN-8RSU-NQJZ-CRSS-CCT3-GOSS-ECDR-CWSU-OA3O-8Y4U-N3JT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
14. The role of cost and management accountants is one of support and teamwork and assistance of those who are responsible for achieving a company's basic objectives.
COCM.HANS.18.1-3 - LO: 01.03
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-10 - FN-MeasurementUnited States - v1 - IMA-07 - Cost Management
1/2/2017 3:00 AM
JFND-GO33-GINU-1O1F
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-GAHG-CCBU-CAHG-CCJT-GRSS-R3BO-8YSS-KAUG-GOSS-RPTW-CWSS-CQDD-GWHG-RP31-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
15. Positions that have direct responsibility for basic objectives are referred to as staff positions, and those indirectly responsible are called line positions.
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-06 - BB-Resource ManagementUnited States - v1 - IMA-07 - Cost Management
JFND-GO33-GINU-1O1R
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJW-8FTD-CQJW-GOAD-KATS-GOSU-GA5F-CRSU-13JT-GOSS-EPTI-8RSU-G3UG-CC5D-EC5G-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
16. The Controller of a company supervises all the accounting departments and is often viewed as a member of the top management team.
JFND-GO33-GINU-1O1D
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-GE3D-RCUN-8R3G-NCJI-GASS-NPMR-CRSU-YQBS-GOSU-NCDF-GHSU-KP3T-8YAU-QQDF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
17. The Treasurer of a company is responsible for all taxation activities, including dealing with the IRS.
JFND-GO33-GINU-1OTU
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-GRHD-E3JA-CW5U-CQMN-GWSU-Q3BO-8RSU-GQBZ-GOSU-YP3W-COSU-OAMR-GP1G-GPMF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
18. Evaluating the performance of a segment of the company is an example of planning.
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-08 - FN-Decision ModelingUnited States - v1 - IMA-14 - Decision Analysis
JFND-GO33-GINU-1OT1
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GHHS-G3UR-GRHS-CA31-COSU-NQDF-CRSS-CCJ3-GOSS-RCBA-GOSS-GPBU-CO5U-KCMD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
19. The process of choosing among competing alternatives is called decision making.
JFND-GO33-GINU-1OTT
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-G7TU-1PMB-C3UD-KAUN-CESS-CP3O-CESU-RC5N-GOSS-EAJI-CWSU-OCUR-CA3U-E3JW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
20. Business ethics is learning what is right or wrong in the work environment and choosing what is right.
COCM.HANS.18.1-4 - LO: 01.04
United States - BUSPROG - Ethics
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-01 - BB-IndustryUnited States - v1 - IMA-16 - Business Applications
JFND-GO33-GINU-1OTO
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-GC4U-NATU-GYHU-QQBS-CCSU-NQMG-CESU-R3DR-GOSS-KQBI-GOSU-CAUB-GR5U-RCUD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
21. Employee and customer loyalty are NOT a result of strong codes of ethics.
JFND-GO33-GINU-1OTZ
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-CE4G-GQDG-CTTG-NCJT-8RSS-N3JT-8RSS-NC3T-GOSS-NP5N-CCSU-NPUD-CJUG-KQDR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
22. 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.
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-11 - FN-ReportingUnited States - v1 - IMA-16 - Business Applications
JFND-GO33-GINU-1OTS
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMB-CC3D-GP5N-GY3D-CA5B-8YSU-YAJ3-8YSS-GPBO-GOSS-NPB1-GYSU-1AUG-GO3D-EP5F-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
23. The Institute of Management accountants has established ethical standards for management accountants.
JFND-GO33-GINU-1OTI
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-GO4D-RPDR-CR5G-NQB1-GWSU-C3MR-CRSU-RPMG-GOSU-GQMG-CCSU-CPDN-GJ1G-RP3Z-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
24. In resolving an ethical conflict, it would be appropriate to take the matter to the press where there's no legal requirement.
1/2/2017 3:01 AM
JFND-GO33-GINU-1OTW
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-8FUD-EA3A-GW3U-C3JI-GOSU-Q3BU-CESS-E3JW-GOSU-QQBA-GRSS-RCJT-CE4G-KPDF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
25. Divulging company information when not legally obligated to do so violates the confidentiality part of the IMA Code of Conduct.
JFND-GO33-GINU-1QNN
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-8Y3D-CCTA-CWHG-EQDR-COSU-RA5N-CRSU-C3UD-GOSU-Y3DN-CCSU-C3JT-GEHU-GPJU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
26. Three of the major certifications available to management accountants are Certificates in Management Accounting, Public Accounting, and Internal Auditing.
COCM.HANS.18.1-5 - LO: 01.05
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-01 - BB-IndustryUnited States - v1 - IMA-07 - Cost Management
JFND-GO33-GINU-1QNB
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMB-8RAD-QQMR-GBTG-NAMB-GESS-CAJS-8YSS-NP3W-GOSS-GPBZ-GYSU-1AUR-GR5U-1AMN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
27. For each certification, all an applicant has to do is meet specific educational and experience requirements.
JFND-GO33-GINU-1QB3
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-GH3S-GC33-GFTD-YPJS-CASU-KQB3-8YSU-CQMN-GOSS-EQBA-8RSS-RP3O-GH5D-OCBO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
28. The examination for obtaining the Certificate in Management Accounting consists of two parts: (1) Financial Planning, Performance and Control, and (2) Financial Decision Making.
JFND-GO33-GINU-1QBA
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-GAAU-CCDR-CT1D-1AT3-CWSU-R3TS-8RSU-O3BS-GOSU-NCDR-GESU-OQMD-GOHD-1P3W-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
29. The Certificate of Public Accounting does not include the right to serve as external auditors.
JFND-GO33-GINU-1QNG
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMN-GFUD-KA3Z-CTOU-R3UR-8RSU-RCTS-8YSU-OAJW-GOSU-OPMN-CRSS-NPJZ-GJ1U-KC5N-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
30. The Certified Internal Auditor must pass a comprehensive examination designed to ensure technical competence and have two years' work experience.
1/2/2017 3:02 AM
JFND-GO33-GINU-1QNF
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-CE4D-KCUN-CTUG-E3MB-CCSU-E3DB-8RSU-KA3W-GOSU-1PBU-8RSS-G3TU-CRHD-KQB3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
31. The _________ information system is primarily concerned with producing outputs for internal users using inputs and processes needed to satisfy management objectives.
cost management
Completion
1/23/2017 5:40 AM
JFND-GO33-GINU-1QNR
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-GR5D-KCTA-GY5U-Y3BZ-GWSS-GP5B-CESS-NCTA-GOSS-RCBW-CASS-R3JZ-GC4S-RPMG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
32. The cost management subsystem designed to assign costs to individual products and services is called the _________ information system.
cost accounting
1/23/2017 5:41 AM
JFND-GO33-GINU-1QND
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-CJOU-GPMF-GH5S-GPBU-GCSU-CAMB-8YSU-NC3T-GOSS-RP5R-GCSU-EPBO-GH5U-KCJT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
33. _________ is the persistent pursuit and elimination of waste which results in the decrease of lead time.
Lean Manufacturing
JFND-GO33-GINU-1QBU
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GA3D-O3TA-C3UD-CQDF-CRSS-KCDN-8YSS-NCDD-GOSU-QC3W-GHSU-Q3T3-8R4U-CC3I-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
34. The _________ is a method used to continuously improve manufacturing and nonmanufacturing activities.
theory of constraints
1/23/2017 5:42 AM
JFND-GO33-GINU-1QB1
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-CAAG-EQBT-C31D-KA31-CRSS-RPJW-8YSS-EAUF-GOSU-EPMF-CCSU-GC5R-CR5D-NPJS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
35. The role of _________ accountants is to assist and support those responsible for carrying out an organization's basic objectives.
cost and management
1/23/2017 5:43 AM
JFND-GO33-GINU-1QBT
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-GA4D-YA3S-COAS-GC3Z-GHSS-KA33-CESU-RAUD-GOSU-OP33-GRSS-RQBW-GH4U-GCJA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
36. Positions in a company that have direct responsibility for its basic objectives are called _________ positions, and the positions indirectly responsible for the company's objectives are called _________ positions.
line; staff
1/23/2017 5:44 AM
JFND-GO33-GINU-1QBO
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GTOU-QQDB-C3TD-GAJO-GHSU-QPBA-8YSS-NCMR-GOSU-CQJS-GWSU-KCTU-GPTU-RAMG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
37. The standards of ethical conduct for management accountants include competence, confidentiality, integrity, resolution of ethical conflict, and _________.
credibility
1/23/2017 5:45 AM
JFND-GO33-GINU-1QBZ
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-COHU-OC3S-GOAG-EQMD-CASS-NCTI-8RSU-GQJT-GOSS-EPDR-CRSU-YCMF-8Y5U-NPDN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
38. Companies with a strong _________ can benefit from strong customer and employee loyalty.
Code of Ethics
JFND-GO33-GINU-1QBS
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-GRAG-K3MF-C3OU-GP5N-8YSU-1A3A-CESU-O3JZ-GOSS-EC3T-CWSU-G3UB-GFTG-KCMD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
39. The IMA's program to recognize professional competence in the field of management accounting yields a designation as a _________ Accountant.
Certified Management
1/23/2017 5:46 AM
JFND-GO33-GINU-1QBI
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-GJOS-GP3W-GO5D-QQMG-GESS-KQJW-8YSS-KPJS-GOSU-1PMB-GHSS-NAT3-8BTU-QPBA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
40. Only Certified Public Accountants are permitted by law to serve as _________.
external auditors
1/23/2017 5:47 AM
JFND-GO33-GINU-1QBW
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-C31D-ECDR-CTUD-KPB3-CRSS-GPTZ-8RSU-E3DF-GOSS-CPTS-GHSU-QQJ1-GT1U-QAUF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
41. In an accounting information system, the inputs are usually
financial statements.
analyzing data.
c.
performance reports.
d.
economic events.
d
Multiple Choice
JFND-GO33-GINU-1QKN
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-GHHS-E3JW-8R5D-Q3MB-8RSU-QPMR-CESU-OPJ3-GOSU-QAJW-COSU-Q3J3-8R5G-NCJU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
42. In an accounting information system, which of the following is NOT a transformational process?
collecting data
analyzing data
performance reporting
summarizing data
c
JFND-GO33-GINU-1QKB
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-GTTU-OATS-GR5S-RPDG-GYSU-G3BT-8YSU-GC5N-GOSU-GQDN-CASU-RP5G-CO4U-NQDG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
43. Which of the following is NOT a process associated with an accounting information system?
auditing existing data
collecting and recording data
providing information to users
analyzing and managing data
a
JFND-GO33-GINU-1QJ3
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-CO4G-CPT1-GA4U-OPUR-GOSS-NCDR-8YSU-OCTZ-GOSU-EATI-GASS-GA5N-CFUD-GPTO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
44. The _____ information system is concerned with producing outputs for external users.
forensic accounting
financial accounting
operational accounting
lean accounting
b
TOPICS:
1/22/2017 11:20 PM
JFND-GO33-GINU-1QJA
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-CC5S-CCDF-G3TU-RPUG-CASU-GC5B-8RSU-1PB1-GOSU-Q3DN-CCSU-EP33-8YHU-13TZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
45. Financial accounting information is used for
investment decisions.
regulatory measures.
stewardship evaluation.
all of the above.
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-08 - FN-Decision ModelingUnited States - v1 - IMA-08 - Information Management
JFND-GO33-GINU-1QKG
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMN-8BOS-NP33-GWAS-EPJS-GRSS-KC3A-8YSU-EA5G-GOSS-E3BA-CWSU-GP5B-CR3D-Q3DB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
46. Which of the following does NOT describe cost management system?
evaluation of segments or products within the firm
emphasis on the future
externally focused
focus on effective use of resources
JFND-GO33-GINU-1QKF
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-CPOU-Q3TO-C31D-OP3Z-GRSS-CPUN-CRSS-GAJI-GOSU-GPDF-GOSU-EPJZ-8FTS-G3JZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
47. Which of the following is NOT part of the financial accounting information system?
filing reports with the SEC
reporting a large contingent liability to current and potential shareholders
determining the future cash flows of a proposed flexible manufacturing system
preparing GAAP financial statements
JFND-GO33-GINU-1QKR
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-8F1S-GPBT-GYAU-YPJ3-GHSU-NQDD-8YSS-ECMD-GOSS-KQMN-GASU-RAJA-G7OU-NPJA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
48. Cost management information systems provide information:
for preparing the planning and controlling measures of an organization.
to prepare statements of cash flows and balance sheets for external users.
that can be used for regulatory measures.
for stewardship evaluation.
1/22/2017 11:22 PM
JFND-GO33-GINU-1QKD
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-CRAS-NATW-C31U-YP3U-CWSU-1QJS-8YSS-R3UF-GOSU-RC5G-GESU-KPMD-8YHG-KQDR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
49. Which of the following is NOT provided by cost accountants?
cost information in accordance with GAAP
cost information about processes and activities
financial information for external users
cost information about products, customers, and services
JFND-GO33-GINU-1QJU
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJZ-CW4D-GA3A-GH4G-GP3A-COSU-Q3BW-8YSU-G3DD-GOSS-KQJS-GYSU-YCUF-GAAU-YC5R-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
50. The primary objective of the cost management information system is to provide
stockholders and potential investors with useful information for decision making.
banks and other creditors with information useful in making credit decisions.
management with information useful for planning and control of operations.
the Internal Revenue Service with information about taxable income.
JFND-GO33-GINU-1QJ1
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-GE5S-EP3A-GE4D-QCDG-8YSU-CQBS-8YSS-NP3W-GOSU-GPJZ-GWSS-ECTO-GH4U-OCDG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
51. The cost management information system is concerned with
reporting financial information according to GAAP.
providing cost information that is used in planning, control, and decision-making.
reporting to external users.
providing financial information to investors.
JFND-GO33-GINU-1QJT
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-GHHG-C3MR-C3TU-QP5G-GCSU-CAMF-8YSU-QA5G-GOSU-OPT3-CRSU-OQJA-GO3D-RCUG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
52. Cost accounting
is concerned with assigning costs to various cost objects.
attempts to satisfy the costing objectives of both financial accounting and management accounting.
provides cost information that supports planning, controlling, and decision making.
all of these.
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-08 - FN-Decision ModelingUnited States - v1 - IMA-07 - Cost Management
JFND-GO33-GINU-1QJO
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-GW4D-KQDF-GHAU-GCUD-GRSS-CQBW-8RSU-EC5R-GOSS-GQBI-8YSU-QP5G-GPTS-KQJZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
53. Cost management is concerned with producing outputs for _____.
internal managers
creditors
investors
regulatory authorities
1/17/2017 1:46 AM
JFND-GO33-GINU-1QJZ
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMN-CF1U-YAMD-8YHU-OPDF-8RSU-13MD-CRSU-YPTI-GOSS-EP3S-GCSU-OPMF-CC4U-YA5R-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
54. 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:.
Cost accounting
Cost management
Financial management
Financial accounting
JFND-GO33-GINU-1QJS
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJW-CPTG-ECJI-GHHU-GC5R-CWSU-CCDD-8RSS-RCUB-GOSU-YPMF-COSS-GA5D-C3UG-EPJA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
55. Which of the following activities is NOT associated with the cost management information system?
preparing a cost of quality report
preparing a performance report that compares actual costs to budgeted costs
determining the cost of a customer
using future expected earnings to estimate the price of a share of common stock
JFND-GO33-GINU-1QJI
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJZ-C31D-ECJA-GC3D-GAUN-GCSU-1P3A-8RSU-RC5N-GOSS-CQDF-GOSU-RCDR-CT1D-YATA-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
56. Which of the following costing activities is associated with the financial accounting system?
determining the cost of a department
determining the cost of goods sold for financial statements
preparing budgets
JFND-GO33-GINU-1QJW
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GCAG-GC3I-GH5D-YCBZ-CCSS-CATI-8YSU-NC3W-GOSU-1AMF-CESU-QPUD-GYHG-RPDG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
57. Which of the following activities is associated with the cost management information system?
preparing reports for division managers
preparing reports for the IRS
preparing reports for the SEC
preparing financial statements that conform to GAAP
JFND-GO33-GINU-1TKN
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-GO3D-13DD-GITU-GQJI-GYSU-E3UG-CESU-CAT3-GOSU-RC31-GOSU-GP5R-CTOS-E3TW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
58. Which of the following information systems provides information that helps managers engage in a program of continuous improvement of all aspects of their businesses?
The financial accounting information system
The operational control information system
The cost management information system
The value chain information system
1/22/2017 11:31 PM
JFND-GO33-GINU-1TKB
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-GA4S-EAJO-CC5G-KATS-CESU-GC5B-8YSS-GAJ1-GOSS-NC5D-CCSS-KQB3-GW3D-RCTT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
59. Which of the following activities is NOT associated with the financial accounting information system?
reporting on the cost of quality
reporting to the SEC
preparing a statement of cash flows
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-11 - FN-ReportingUnited States - v1 - IMA-08 - Information Management
JFND-GO33-GINU-1TJ3
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-8YAU-QAUG-C3UD-CPDF-CRSS-R3BS-CESU-E3UN-GOSU-CC3Z-GWSU-E3JU-CJ1G-RCUR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
60. 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
financial accounting information system
operational control system
cost accounting information system
all of the above
JFND-GO33-GINU-1TJA
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-GWHD-CAMD-GO4D-OPDF-GASS-GQMD-8YSU-QPUB-GOSS-KP5R-8RSS-EC5B-CEHD-OC33-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
61. Which of the following statements is TRUE?
The service sector comprises approximately three quarters of the United States' economy and employment.
The service sector comprises approximately 20 percent of the United States' economy and employment.
Traditional smokestack industries have increased in importance in recent years.
The service sector has decreased in importance in recent years.
United States - v1 - ACBSP-APC-26 - Management FunctionsUnited States - v1 - AICPA-01 - BB-IndustryUnited States - v1 - IMA-02 - Global Business
JFND-GO33-GINU-1TKG
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GEAU-O3BZ-GOHS-RCJA-GRSU-OP5G-CRSU-YPJU-GOSU-RP3I-GHSU-GPUB-CFTU-OQJ3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
62. Any form of commerce that is executed using information and communications technology is called:
ERP
OLAP
electronic commerce
DSS
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-04 - BB-Leveraging TechnologyUnited States - v1 - IMA-08 - Information Management
JFND-GO33-GINU-1TKF
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-CJ1U-QPJO-8RAS-NPTU-GYSU-CQBU-8YSS-RPB1-GOSS-CA3W-CWSU-EQMD-GY3G-KP3T-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
63. Factors that have led to a global market for manufacturing and service firms are
improved transportation and communications systems.
improved telemarketing and communications.
improved telemarketing and transportation systems.
None of these factors have contributed.
JFND-GO33-GINU-1TKR
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-GA3D-QQBU-GH4D-N3MG-COSS-NP3W-CESS-EQJT-GOSU-N3J3-CRSS-CAJ1-8YHU-NPUB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
64. Which of the following cost management tools supports the firm's concentration on the delivery of value to the customer?
service industry growth
global competition
preparing an earnings report for the SEC
value-chain analysis
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-10 - FN-MeasurementUnited States - v1 - IMA-11 - Strategic Planning
JFND-GO33-GINU-1TKD
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-G71U-QCBS-GO3D-C3JO-CRSU-YAMR-8RSU-Q3JO-GOSU-GPBW-GYSU-G3MD-GW4U-YAUF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
65. The _____ system is an integrated system capable of providing access to real-time data from the various functional areas of a company.
financial management information
enterprise resource planning
lean accounting management
operational control information
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-09 - FN-Leveraging TechnologyUnited States - v1 - IMA-08 - Information Management
1/22/2017 11:37 PM
JFND-GO33-GINU-1TJU
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMN-GO5D-EQDF-G71U-EQJZ-CASS-RQBA-CRSU-YQMG-GOSU-NCDD-GHSU-QC5B-CP1U-RPT3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
66. Which of the following advances in information technology includes external data sets and, at the same time, integrates the analysis with an organization's internal databases?
Decision-support systems
Integrated cost management
Business analytics
Online inventory system
12/29/2016 11:36 PM
1/22/2017 11:50 PM
JFND-GO33-GFNU-GQJW
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-GHHG-GA5D-GW3D-QPUN-CESU-KCDF-CESS-NCBW-GOSS-KAMN-GESU-CCJZ-COAS-NCJU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
67. Which of the following is NOT an advance in information technology that affects firms?
computer integrated applications
GAAP reporting
emergence of electronic commerce
availability of tools such as OLAP and DSS
JFND-GO33-GINU-1TJ1
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-CWHD-Q3UF-GTOU-RCJ3-CCSU-KPMD-8RSU-RCTT-GOSU-GCMN-GASU-GPBU-CE5U-KP3Z-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
68. Software that has integrated system capability using real time data is
enterprise resource planning software.
on-line analytic programs.
computer-assisted engineering software.
none of these.
JFND-GO33-GINU-1TJT
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-CEHD-R3TU-GW3U-R3DF-CESU-R3B3-8RSU-RCBZ-GOSS-RPBS-GYSU-RQJU-GE5S-NA33-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
69. Which of the following is an advantage of analyzing big data sets using business analytics?
An increased current ratio
A reduced arbitrage fund
An improved quality
A decreased basis risk
12/29/2016 11:39 PM
1/23/2017 12:19 AM
JFND-GO33-GFNU-GTKF
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-CWHG-EC31-GWHD-CPTA-GWSS-C3UR-CRSS-NCMR-GOSS-K3BI-GOSU-YPTO-CWHS-N3TW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
70. The increased importance of costing activities in the value chain and determining the cost of different suppliers and customers has led to the emergence of
OLAP.
EDI and supply chain management.
CAM.
theory of constraints.
JFND-GO33-GINU-1TJO
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GY4U-1ATU-8B1G-E3T1-CASU-YPJ3-8YSS-G3UR-GOSU-CPUB-CASU-EC3O-COAU-CC3S-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
71. Which of the following activities is NOT significant to the advancement of information technology?
enterprise resource planning software
decision support systems
JFND-GO33-GINU-1TJZ
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-CC5G-GQJ3-CFUD-QATI-COSU-RPUN-8YSU-OQB1-GOSU-Y3BO-GESS-RPMD-GCAD-13JT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
72. Manufacturing environment automation is associated with increases in
inventory.
productive capacity.
processing time.
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-10 - FN-MeasurementUnited States - v1 - IMA-07 - Cost Management
JFND-GO33-GINU-1TJS
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-GE5G-C3DD-CEHD-OP3A-CESU-YQB1-8YSS-EPUN-GOSU-NAMB-COSU-QPBO-CCAS-NAJU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
73. Which of the following manufacturing management approaches has allowed firms to increase quality, reduce inventories, eliminate waste, and reduce costs?
The operational manufacturing system
Online analytic programs
The decision-support system
Lean manufacturing
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-06 - BB-Resource ManagementUnited States - v1 - IMA-11 - Strategic Planning
1/23/2017 5:03 AM
JFND-GO33-GINU-1TJI
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-CE5U-KCTT-GC4U-RPTI-CWSU-YA3T-8YSU-CP3O-GOSS-NPTO-CWSU-QQBZ-GOHD-GPT1-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
74. In JIT manufacturing, each operation produces
only what is necessary for the succeeding operations.
all that it can to offset fixed costs.
a fixed percentage in excess of orders to ensure adequate quality stock.
all that it can in order to build inventories.
JFND-GO33-GINU-1TJW
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-CR3U-YAMR-8YHS-CCBW-GASS-C3TI-8RSS-RPBA-GOSU-RPUB-GOSS-GAMD-CR5S-GAJS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
75. JIT is a critical part of a more comprehensive approach referred to as:
supply chain management
lean manufacturing
just-in-time manufacturing
computer-integrated manufacturing
JFND-GO33-GINU-1T1N
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-CA3D-RAUN-GAAS-EC5D-CASU-NCT1-8RSS-CCMN-GOSU-QQB3-GOSU-QCDG-CA5U-N3JW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
76. A demand-pull system that strives to produce a product only when it is needed and only in the quantities demanded by customers is referred to as:
supply chain management.
lean manufacturing.
just-in-time manufacturing.
1/17/2017 10:30 PM
JFND-GO33-GINU-1T1B
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-CWHS-RAUB-CIOU-KPUD-GRSS-CPDF-CESU-OCMG-GOSU-KCB3-GHSS-CCBA-CEAS-RCMB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
77. Which of the following emerging trends in cost accounting deals with managers striving to create an environment that will enable workers to manufacture perfect (zero-defect) products?
advances in information technology
time as a competitive element
total quality management
JFND-GO33-GINU-1TT3
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-CTUD-R3TZ-8YAU-YQJI-GASS-KPBO-8YSU-KCDG-GOSS-CCJ1-CASU-1P3U-GR4U-QCJ3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
78. Competitive advantage is established by providing
more customer products than competitors.
better quality than competitors.
greater customer value for less cost than competitors.
greater efficiencies than competitors.
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-01 - BB-IndustryUnited States - v1 - IMA-12 - Strategic Marketing
JFND-GO33-GINU-1TTA
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMB-8R4D-QQJ1-GT1D-O3TI-GHSS-EAJT-CRSU-YAJZ-GOSU-YATT-CCSU-1QB1-GJOU-YQMF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
79. Which of the following activities is NOT associated with new product development?
life-cycle costing
target costing
activity-based management
performance reports
JFND-GO33-GINU-1T1G
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJZ-GPOS-CQBZ-8BUD-Q3UR-CESU-EQBW-CRSS-NAUB-GOSU-RAMG-COSU-YC33-GJ1S-EQMG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
80. Total quality management emphasizes
zero defects.
continual improvement.
elimination of waste.
United States - v1 - ACBSP-APC-25 - Managerial Characteristics/TerminologyUnited States - v1 - AICPA-01 - BB-IndustryUnited States - v1 - IMA-11 - Strategic Planning
JFND-GO33-GINU-1T1F
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-GTTU-Q3TU-GOHD-1PTW-GYSU-OCDG-8YSU-R3UR-GOSS-N3BW-GOSU-KCTW-GBTG-RCTU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
81. Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental organizational goals that further competitive advantage?
improved time-based performance
improved quality of products and services
maximizing shareholder value
improved efficiency
JFND-GO33-GINU-1T1R
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-GC5D-GCJW-GW5G-E3T1-GRSU-ECJA-CRSU-QQJ1-GOSS-KPBU-CWSU-YPBT-GC3D-CCTZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
82. Which of the following best describes sustainable development?
It is defined as development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
It is defined as development that is designed to assign costs to individual products and services and other objects as specified by management.
It is defined as development that is designed to provide accurate and timely feedback concerning the performance of managers and others relative to their planning and control of activities.
It is defined as development that is primarily concerned with producing outputs for internal users using inputs and processes needed to satisfy management objectives.
12/29/2016 11:43 PM
1/3/2017 1:00 AM
JFND-GO33-GFNU-GTJZ
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-COAG-RATI-GAAD-RQJT-CWSU-EA3A-8YSS-EA3O-GOSU-OATA-GWSS-GP3U-8YAG-CAJI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
83. Which of the following statements is NOT true about world-class firms?
World-class firms are firms that are poor in customer support.
World-class firms know their market and their products.
World-class firms strive continually to improve product design, manufacture, and delivery.
World-class firms can compete with the best of the best in a global environment.
JFND-GO33-GINU-1T1D
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-CEAG-KA3T-8YAD-KATS-CASU-OC5D-CRSS-CA5R-GOSU-CQJI-CWSU-KP3U-GT1U-OC5B-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
84. Which of the following decreases the non-value added time of producing a product and in turn increases the quality of the product?
Increasing movements of subassemblies
Adding processes in production
Redesigning products
Increasing time spent on delivery of products
1/17/2017 10:31 PM
JFND-GO33-GINU-1TTU
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-GEAD-OCTU-CW4U-R3TS-GOSS-GPJI-8YSU-QPDG-GOSU-QQBI-GWSU-NQJW-COAS-KPJT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
85. A critical measure of efficiency is
the cost of activity.
a T-test.
customer satisfaction.
employee job satisfaction.
JFND-GO33-GINU-1TT1
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-C3TG-NA5N-CT1S-K3DG-CASU-GA33-8YSU-NA31-GOSU-1AT3-GCSS-GP5B-CO4D-CPDN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
86. Today's cost managers must assemble cost information and determine how to value things. Which methods would NOT be critical to achieving this?
foreign currency translation
costing and quality analysis
differentiating between value-added and non-value-added activities
measuring productivity
JFND-GO33-GINU-1TTT
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-CI1U-GPBT-CTTG-NQDG-COSU-YCBI-CESU-QPTW-GOSU-NC3T-GESS-K3T3-GT1U-KAMF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
87. Staff positions are positions that are:
directly involved in both financial and nonfinancial measures of efficiency of an organization.
supportive in nature and have only indirect responsibility for an organization's basic objectives.
supportive in nature and indirectly assess the overall cost impact of product designs over a product's life cycle.
directly responsible for carrying out the basic objectives of an organization.
1/17/2017 10:32 PM
JFND-GO33-GINU-1TTO
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJW-8R3U-NAJI-CC4G-NPUG-CCSS-GCJI-8YSU-CAUF-GOSS-GCJI-COSU-ECTA-CA4U-CCDB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
88. The internal auditor performs a
line function.
staff function.
production function.
marketing function.
JFND-GO33-GINU-1TTZ
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJZ-GJ1S-EAT3-GRHG-K3J3-GHSS-E3BT-CRSU-NPTT-GOSU-GCMB-8YSS-GQBO-GH3G-CPJO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
89. Which of the following is an example of a staff position in an organization?
Plant manager
Accountant
Marketing manager
Sales officer
1/3/2017 12:53 AM
JFND-GO33-GINU-1TTS
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-8R5S-EPBW-CO4S-NCMR-GRSU-OC3Z-8RSU-Q3UB-GOSU-1PDR-CASU-RQBU-CA5D-OA3O-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
90. Which of the following positions would most likely be a line manager?
personnel department manager
production supervisor
treasurer
purchasing department manager
JFND-GO33-GINU-1TTI
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMN-GO4G-NPJ1-CA5S-NCTU-CRSU-YA33-CRSU-EA3A-GOSU-GAUN-CASU-CCT1-8RAS-GC3O-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
91. Which of the following job positions is a line function?
financial vice president
controller
JFND-GO33-GINU-1TTW
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-CF1G-G3MR-8Y5U-QCJW-CWSU-RCMD-CRSU-NCJO-GOSU-YAJ1-8YSU-E3DF-G3UG-CCBT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
92. All of the following would be considered staff functions EXCEPT the
vice president of finance.
vice president of corporate planning.
vice president of marketing.
vice president of research and development.
JFND-GO33-GINU-1O4N
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-CCAU-O3DB-G7UG-GPBZ-COSU-QATA-8RSU-1PMF-GOSS-ECUR-8YSS-E3MG-G7TS-CQMR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
93. Which of the following positions would most likely be a staff manager?
manager of a Sears store
president
manager of a clothing division
JFND-GO33-GINU-1O4B
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GFUD-OQBW-GBUD-1QBO-CCSS-C3TA-CRSS-RCTO-GOSU-NC3W-8YSS-GAMD-GI1S-RPDD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
94. Which of the following would be considered a line function?
production
maintenance
public relations
administrative services
JFND-GO33-GINU-1O33
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-C31U-R3JI-C3OU-N3TT-8RSU-Q3TO-8YSU-YPBI-GOSS-NCBZ-GWSU-KA3T-CCAU-NCJU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
95. Which of the following job positions is a staff position?
production vice president
assembly foreman
JFND-GO33-GINU-1O3A
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMN-CP1U-RC31-GY4U-Y3DD-CWSS-KCUG-8YSU-GCJO-GOSU-KCDR-GOSS-KQDR-C31D-13BO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
96. Accounting activities within an organization are usually under the overall supervision of the
Certified Public Accountant.
controller.
Chartered Accountant.
treasurer.
JFND-GO33-GINU-1O4G
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMF-CW5D-RCDR-CE3D-G3JU-GESS-NP3S-8RSU-QPT1-GOSU-YP5N-COSS-NC5F-CJ1D-QQBI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
97. The chief accounting officer of an organization is the
internal auditor.
JFND-GO33-GINU-1O4F
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-G3OS-GA5R-CR5G-KAUD-CASU-1PDD-8RSS-GP5B-GOSU-YAJ3-CWSU-QQBT-GH5G-NPT1-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
98. Which of the following is the officer responsible for money management and serves chiefly as the custodian of the organization's funds?
Certified Public Accountant
Chartered Accountant
10/7/2016 9:26 AM
JFND-GO33-GINU-1O4R
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-CO5D-RAJU-GO4D-1AJ3-8YSU-R3BZ-8RSU-N3B1-GOSS-RP31-CRSS-NAMF-COAU-QCTU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
99. Which of the following duties is usually assigned to the controller?
receiving, maintaining custody of, and disbursing monies and securities
directing the granting of credit to clients
investing the organization's funds
tax planning
JFND-GO33-GINU-1O4D
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ1-GPTU-Q3MB-GA5S-RAJA-COSU-QPTO-8YSU-O3BW-GOSU-GCUG-COSU-CC3O-GEHS-CP5N-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
100. Currently, the activity found LEAST often within the controller's department is
updating the general ledger.
budget preparation.
maintaining accounts receivable records.
establishing and maintaining a market for the organization's debt and equity securities.
JFND-GO33-GINU-1O3U
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMG-CT1U-NPTO-GP1D-KQJA-GRSU-GP5N-CESS-NCT3-GOSS-CCJW-COSU-1A5F-GO5G-N3DR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
101. The setting of objectives and the identification of methods to achieve those objectives is called
planning.
controlling.
performance evaluation.
decision making.
JFND-GO33-GINU-1O31
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-GW5S-CA5B-8R4D-NQMD-COSS-KPUB-CRSU-KAMR-GOSS-GPBU-GHSS-CCMG-G3TS-E3BI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
102. Analyzing cost overruns to determine their cause is an example of
control.
both a and c.
JFND-GO33-GINU-1O3T
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-CRHS-ECJI-C3TS-RAJS-GHSU-YPTI-8RSS-CP3Z-GOSU-N3UN-8YSS-EPT3-8YHU-YP3A-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
103. Monitoring the number of defects produced is an example of the management function of
JFND-GO33-GINU-1O3O
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-CJTS-ECBO-CJTD-KQBI-CASU-QP3Z-8RSU-OC3S-GOSS-EPUB-GHSU-KCMN-GA3G-EPTI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
104. Comparing actual quality costs with planned quality costs is an example of
both b and c.
JFND-GO33-GINU-1O3Z
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-GRHU-G3TT-G7TS-EQMB-CESU-1PUB-CESU-YCMN-GOSU-NCDF-CESS-NQDB-CEAD-RPDF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
105. Accounting reports that provide feedback by comparing planned (budgeted) data with actual data are called:
favorable reports.
auditing reports.
improvement reports.
1/17/2017 10:33 PM
JFND-GO33-GINU-1O3S
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-CE3U-R3DB-CCAU-GPTT-CESU-RAJI-8YSU-1AJ1-GOSS-RQJI-8RSS-K3TW-GR4U-QC3U-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
106. Setting the company's profit targets for the upcoming year is an example of the management function of
variance analysis.
internal auditing.
JFND-GO33-GINU-1O3I
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-CR5S-G3BT-8YHS-KP5F-GRSS-RPDB-CRSS-G3BA-GOSU-OQJO-8RSS-GA5B-CITG-NAUB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
107. Developing a company strategy for responding to anticipated new markets is an example of
JFND-GO33-GINU-1O3W
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJW-GY4S-RCMD-GBOU-CPJS-CRSS-N3BO-CESU-KC5F-GOSU-EPMF-COSS-KA3S-GITS-E3DN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
108. The planning process includes
setting objectives.
identifying means of achieving the objectives.
making decisions.
JFND-GO33-GINU-1TNN
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109. Investigating production variances and adjusting the production process is an example of
JFND-GO33-GINU-1TNB
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110. In a performance report, the
differences between actual costs and allowed costs are always undesirable.
expenditures of less than allowed amounts are undesirable.
expenditures of more than allowed amounts are not permitted to occur.
expenditures of less than allowed amounts are desirable.
JFND-GO33-GINU-1TB3
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-CC3U-13BT-CW5S-KAMR-CWSS-EAUD-8YSU-YCUF-GOSU-NQDG-CWSU-N3MN-GEAD-O3BW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
111. Evaluating the performance of a segment of the company is an example of
JFND-GO33-GINU-1TBA
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112. The formulation of a program for the accomplishment of a specific purpose is referred to as
motivating.
organizing.
JFND-GO33-GINU-1TNG
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113. The manager has to decide what tasks are needed and how they should be accomplished. This statement describes
the organization chart.
JFND-GO33-GINU-1TNF
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114. The monitoring of a plan's implementation is called
budgeting.
JFND-GO33-GINU-1TNR
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115. Inspecting units produced to determine if they meet specifications is an example of
JFND-GO33-GINU-1TND
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116. Continuous improvement is
critical in a dynamic environment.
important to finding and maintaining a competitive advantage.
an effort to find ways to increase overall efficiency, improve quality, and reduce costs.
JFND-GO33-GINU-1TBU
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117. Which of the following describes the managerial activity of comparing actual results with budgeted results?
control
continuous improvement
planning
decision making
JFND-GO33-GINU-1TB1
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118. 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?
Bloom's - Applying
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119. In a company, engineers have redesigned production processes lowering production costs, shortening production cycle time, reducing waste and improving quality. Which type of managerial activity applies to this situation?
controlling
JFND-GO33-GINU-1TBO
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120. Determining the bid your company should submit on a construction contract is an example of
none of the above
JFND-GO33-GINU-1TBZ
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121. Setting the selling price of a company's product is an example of
JFND-GO33-GINU-1TBS
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-CAAU-E3JA-8Y5U-CCT3-CESU-YAJ1-CESU-CPUR-GOSU-RCBO-8YSU-EPJ3-GO4G-N3TO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
122. Which of the following have been found to be TRUE?
Firms that emphasize ethics outperform firms that don't emphasize ethics.
Those corporations that mention ethics in their management reports have lower than average performance.
Companies with a strong code of ethics and sense of integrity and honor will have trouble competing over the long run.
All of these.
JFND-GO33-GINU-1TBI
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123. Principles of personal ethical behavior include
integrity.
respect for others.
fairness.
JFND-GO33-GINU-1TBW
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124. Which of the following are standards of ethical conduct for management accountants?
Perseverance and creativity
Determination and respect for others
Discipline, confidence, competitive, and observance
Competence, confidentiality, integrity, and resolution and credibility
1/17/2017 10:51 PM
JFND-GO33-GINU-1C1N
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125. Extending the close of the fiscal year beyond December 31 so that some sales of next year are included in the current year would be a violation of which standard of ethical conduct for management accountants?
competence
confidentiality
conformance
all of these
JFND-GO33-GINU-1C1B
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126. When a management accountant attends training seminars on new FASB rules, which part of the IMA Code of Conduct is being observed?
integrity
JFND-GO33-GINU-1CT3
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127. 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?
JFND-GO33-GINU-1CTA
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128. The acceptance of a savings bond from a supplier would be a violation of which standard of ethical conduct for management accountants?
reliability
none of these
JFND-GO33-GINU-1C1G
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129. In resolving an ethical conflict, it is inappropriate to discuss the problem with the immediate supervisor because of a violation of which standard of ethical conduct for management accountants?
This action is not in violation of the code of conduct.
JFND-GO33-GINU-1C1F
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130. In resolving an ethical conflict, which of the following would NEVER be appropriate?
discussing the matter with the chief executive officer
discussing the matter with an external member of the board of directors
taking the matter to the press where there is no legal requirement
resigning from the position because of a conflict
JFND-GO33-GINU-1C1R
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131. Which of the following relates to the credibility section of the IMA Code of Conduct?
Prepare clear and complete reports.
Communicate professional limitations.
Avoid actual or apparent conflicts of interest.
Communicate information fairly and objectively.
JFND-GO33-GINU-1C1D
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132. 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?
independence
1/2/2017 3:05 AM
JFND-GO33-GINU-1CTU
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133. Engaging in or supporting an activity that would discredit the profession would relate to which part of the IMA Code of Conduct?
JFND-GO33-GINU-1CT1
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134. 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?
JFND-GO33-GINU-1CTT
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135. Disclosing company information (when not legally obligated to do so) would be a violation of which part of the IMA Code of Conduct?
JFND-GO33-GINU-1CTO
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136. The Standards of Ethical Professional Practice of the Institute of Management Accountants addresses all of the following EXCEPT
strategic cost management
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137. Persons in the United States who provide external auditing services are designated as
Certified Public Accountants.
Certified Financial Accountants.
Chartered Accountants.
Certified Management Accountants.
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138. An accountant certified to possess the minimal professional qualifications for an external auditor is a
CPA
CMA
CIA
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139. Which of the following certifications require a candidate to pass a qualifying examination in Financial Planning, Performance, and Control and Financial Decision Making?
The Certificate in Management Accounting
The Certificate in Public Accounting
The Certificate in Internal Auditing
The Certificate in Financial Accounting
1/17/2017 10:53 PM
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140. 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
JFND-GO33-GINU-1C4N
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141. Explain the relationship between the Cost Management System and the Financial Accounting System.
The cost management system is concerned with producing information for the company's internal users and is designed to meet management objectives. A cost management system has three broad objectives - to provide information on: costing of products and services, planning and control activities, and decision making activities.
A financial accounting system is mainly concerned with producing information for the company's external users. Financial accounting information is used for investment decisions, stewardship evaluation, activity monitoring and regulatory measures. The rules that govern a financial accounting system are defined by the Securities Exchange commission (SEC) and the Financial Accounting Standards Board (FASB). Outputs of a financial accounting system include the basic financial statements which include the income statement, balance sheet , and the statement of cash flows and the statement of owner's equity or the statement of retained earnings.
Subjective Short Answer
Time Estimate - 10 min.
1/2/2017 3:06 AM
JFND-GO33-GINU-1C4B
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142. Describe the two major subsystems of the Cost Management System and briefly summarize their importance.
A cost management system consists of two major sub-systems: a cost accounting system and an operational control system. The cost accounting system is designed to assign costs to individual products or services. A cost accounting system must assign costs in order to value inventory and determine the cost of goods sold.
The operational control system is designed to provide accurate timely feedback concerning performance of managers and others. Operational control is also designed to evaluate activities that should be performed and how well they are performed. The operational control system should be designed to provide opportunities for continuous quality improvement.
1/17/2017 7:30 AM
JFND-GO33-GINU-1C33
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143. Briefly discuss the relationship between cost accounting, management accounting, and cost management.
Management accounting is concerned with using financial and non-financial information for planning and control, continuous improvement and decision-making. Cost accounting gathers information to satisfy the cost objectives necessary for internal and external reporting. Cost management encompasses both cost accounting and management accounting. It is concerned with the assigning costs to cost objectives and using that information to make decisions that use resources effectively and maximize shareholder value.
JFND-GO33-GINU-1C3A
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144. Identify and discuss the factors that are affecting the way cost accounting is practiced.
Worldwide competitive pressures, deregulation, growth in the service industry, and advances in information and manufacturing technology have changed the nature of our economy and caused many manufacturing and service industries to dramatically change the way in which they operate. These changes, in turn, have prompted the development of innovative and relevant cost management practices.
JFND-GO33-GINU-1C4G
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJT-GA4D-NPDD-GIUG-RPBA-GESS-GPJA-8RSS-EAT3-GOSU-R3MB-CRSU-ECJZ-8F1U-OATS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
145. What is customer orientation? Why is it important in a global environment? What role does cost management play in serving customers?
Organizations are concerned with the importance and value that customers have for their processes, activities, products, and services. Firms want to deliver value to customers in order to keep them and to attract new customers in an increasingly competitive global environment. Managing activities and costs is a critical component of managing the value chain.
1/17/2017 7:31 AM
JFND-GO33-GINU-1C4F
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-CI1G-C3TW-8FUD-RPJ3-CESU-NQJS-8RSS-CAJO-GOSU-13BI-GYSS-EQMF-G71G-GAMG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
146. Discuss the advances of information technology and how these advances might affect the university education supply chain?
There are three significant advances relating to information technology: (1) the automation and integration of company information; (2) the development of analytic and decision support tools; and (3) the emergence of electronic commerce. Universities are developing integrated databases to better streamline student services (i.e., registration, admissions, and grading). Software applications have been developed to aid in teaching and presenting classroom materials. Colleges have made access to education easier by offering entire degree programs online.
JFND-GO33-GINU-1C4R
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJI-CCAU-1CJI-CWAG-NPMB-CWSU-1CTT-8RSU-OCDR-GOSU-NQMN-GESU-EPTU-CEHG-R3JS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
147. Discuss four factors that are changing the way we manufacture.
Technology has fostered computer-integrated manufacturing-changing the way laborers work. The theory of constraints (TOC) has enabled firms to identify bottlenecks and improve the time and quality of production. JIT has reorganized the production line to respond to customer demand, rather than sequential, efficient supply. Total quality management (TQM) has focused firms on quality and continuous improvement, reducing waste and cost.
JFND-GO33-GINU-1C4D
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMR-8YHS-C3UG-8F1S-EAMD-GHSU-1AJW-8RSS-NCDB-GOSU-YPDB-GRSU-KQDG-GHAU-GPMB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
148. Why has time become such an important factor in competition?
Reducing the time that it takes to act means that companies are able to respond to customers and suppliers more quickly. It fosters adaptability and the ability to respond to changing demands. Reducing time is accomplished by reducing waste and nonvalue-added activities. Reducing activities and waste lowers cost and builds competitive advantage.
JFND-GO33-GINU-1C3U
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJW-CC5S-CCT3-CTTD-QA3U-CCSU-QA5G-8YSU-YA5F-GOSU-NCBO-CRSS-R3UG-CP1D-NQMN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
149. How has the nature of accounting systems shifted in response to technology?
ERP, DSS, and OLAP software have allowed firms to create one database that can be used for many purposes. Information is more accessible and can be used to provide much more effective planning, control, feedback, decision making, and continuous improvement. EDI has allowed the emergence of electronic commerce and supply chain management.
JFND-GO33-GINU-1C31
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-GJ1D-KC5D-8RAU-NPBU-GOSU-CPMN-CRSU-QCTA-GOSU-CCBT-CCSU-EP3I-CITU-1QBT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
150. What is the difference between a staff position and a line position?
A line position has direct responsibility for carrying out the basic objectives of an organization. A staff position has indirect responsibility for the basic objectives and provides a supportive role for line activities.
1/17/2017 7:33 AM
JFND-GO33-GINU-1C3T
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJU-8R3S-N3UR-CPTU-KP31-GYSU-G3BZ-8RSU-NPTO-GOSS-CAT1-GASU-E3JA-GCHD-EPMR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
151. Contrast the role of the financial vice president, the controller, and the treasurer.
The financial vice president reports to the president and supervises the treasurer and controller. The treasurer supervises the financing function, and the controller supervises the accounting information system.
JFND-GO33-GINU-1C3O
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJS-CW3D-OQJA-GE3S-KA3S-GHSS-E3DD-8YSU-1QJA-GOSS-RPDF-GWSU-CC3T-CEHD-GCUD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
152. Describe the connection between planning, controlling, and feedback.
Planning establishes performance standards, feedback compares actual performance with planned performance, and control uses feedback to evaluate deviations from plans.
JFND-GO33-GINU-1C3Z
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-GAHD-NPDG-GRAU-OA5N-GESS-C3BU-8YSU-O3JI-GOSU-YPBW-GESU-QQDN-G31G-E3TZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
153. Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.
A service industry company will be interested in monitoring all aspects of performance. It may prepare performance reports on materials and labor usage, as well as on meeting revenue targets. It will want to keep track of things important to customers: turnaround time, customer satisfaction, types of complaints, and requests for auxiliary services (i.e. shipping). It may keep records about the characteristics of customers (i.e. geography, profession, residence, age) to better understand their market. It will be interested in efficiency and productivity of labor and equipment. It might monitor the usage of capacity. It will be interested in reporting on all aspects of performance.
United States - BUSPROG - Reflective Thinking
Time Estimate - 15 min.
JFND-GO33-GINU-1C3S
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJA-8FUD-1CJS-GAHS-CPUD-GCSU-YCTU-CESS-EQMR-GOSU-C3J1-GCSU-RCJA-CA5G-R3MG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
154. What is the role of the controller in an organization? Describe some of the activities over which he or she has control.
The controller is responsible for both internal and external accounting. These responsibilities usually include such diverse activities as taxes, SEC reports, cost accounting, budgeting, internal auditing, financial accounting, and systems accounting.
JFND-GO33-GINU-1C3I
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-8Y4U-KATW-CEHG-EPDN-GASS-EATA-CRSU-EC3O-GOSU-13JO-COSS-ECTZ-GA5S-E3JZ-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
155. You are a management accountant for the Eastern Division of Strong Enterprises. Your longtime friend, Alana Rodriguez, is the Eastern Division manager. Alana was instrumental in helping you obtain your current position. Because the manager's annual bonus is based on the amount of profit the Eastern Division reports for the year, Alana has asked you to "massage the numbers" to make the Eastern Division appear more profitable.Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to Alana Rodriguez' request?
According to the Standards of Ethical Conduct for Management Accountants, management accountants have a responsibility to "perform their professional duties in accordance with relevant laws, regulations, and technical standards." Therefore, if "massaging the numbers" involves violating any laws, regulations, or technical standards, it would violate the Standards of Ethical Conduct for Management Accountants. In addition, the Standards of Ethical Conduct for Management Accountants indicate that management accountants have a responsibility to communicate information fairly and objectively and to disclose all relevant information that could be expected to influence a user.
Challenging
JFND-GO33-GINU-1C3W
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJZ-CO5G-GCJT-GH5D-RC5F-GYSU-1PTU-8RSS-GC3W-GOSU-EAMR-GYSU-CPT1-GF1S-EA3I-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
156. 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 objective of profit maximization should be constrained by the requirement that profits are achieved through legal and ethical means. Because performance evaluation and rewards for managers often are linked to reported profits, managers might manipulate accounting data to show increased profits in order to increase their own bonuses. The evaluation and reward system should be designed to discourage unethical behavior.
JFND-GO33-GINU-1CNN
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-GEAG-NAJO-CA4D-1PDB-GCSU-GCTO-CRSU-OCDD-GOSU-K3B3-CWSS-NP5F-8RAD-1QJ3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
157. What can a company do to increase the likelihood of its employees being ethical in all their undertakings?
Companies can establish a culture and atmosphere of ethical business practices by rewarding those employees who are honest, fair, and act with integrity. They can establish their own code of professional conduct that sets out the organizational purpose, beliefs, values, and expectations of employees. The code of conduct should be known, visible, and enforced. Companies should hire certified professionals, when appropriate. Certified professionals have codes of conduct and standards appropriate to their duties. Companies can incorporate ethical values into the selection criteria for employee recruitment.
JFND-GO33-GINU-1CNB
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMN-CWAS-GC5B-GA5U-QA5G-8RSU-E3T3-8YSU-OATI-GOSU-G3TI-GOSS-NPJS-GOAU-GATS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
158. You are a management accountant for Savage Corporation. Gabe Hopen, the sales representative for one of Savage suppliers, invited you to attend a professional sporting event. Because you are an avid sports fan, you accepted Gabe's invitation.
At the sporting event, Gabe begins talking about Savage's upcoming contract renewals with suppliers. Because there is intense competition and because it is the first bid he will submit to Savage Corporation, he asks you to review his bid to make sure "it is good enough" before he submits it to the company. In addition, because you are knowledgeable about costs, especially regarding this contract, he asks you to tell him if his bid is "in the ballpark" or "needs improvement." he indicates that if he wins the contract, you will be provided with season tickets for the rest of the year.
Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to Gabe's request?
According to the Standards of Ethical Conduct for Management Accountants, management accountants have a responsibility to "refrain from using or appearing to use confidential information acquired in the course of their work for unethical or illegal advantage either personally or through a third party." If you agree to review Gabe's bid and tell him if the bid needs improvement so that he will win the contract, this could be viewed as using confidential information for your personal advantage (season tickets). In addition, management accountants have a responsibility to refuse any gift, favor, or hospitality that would influence their actions.
1/2/2017 3:08 AM
JFND-GO33-GINU-1CB3
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-8Y5U-Y3B3-CITU-NCBT-GESU-EPTI-CESU-NQJS-GOSU-N3JS-GASU-YQDN-GR5D-NQDG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
159. Explain what is meant by confidentiality and why it is important.
Management accountants are entrusted with sensitive information about their companies and their dealings with outside firms. Confidentiality standards require that accountants honor this trust. They cannot disclose confidential information without the permission of the company, unless legally required to do so. They must monitor their subordinates to make sure that they are upholding the confidentiality standard. They may not use or appear to use confidential information acquired in their work for unethical or illegal advantage.
JFND-GO33-GINU-1CBA
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-8F1U-KCJZ-CJTS-G3MR-GRSS-CPUF-8YSS-CQJ3-GOSU-EQMF-GASU-EP3Z-GH5D-EC5R-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
160. Discuss the three forms of accounting certification. Which form of certification do you believe is best for management accountants? Why?
The three forms of certification are the Certified Public Accountant (CPA), the Certified Management Accountant (CMA), and the Certified Internal Auditor (CIA). Although each certification can prove to be valuable for management accountants, the CMA is tailored to fit the needs of management accountants. The CPA has a public-accounting orientation, and the CIA has an internal-auditing orientation. Only the CMA specifically addresses the professional requirements of a management accountant.
JFND-GO33-GINU-1CNG
GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-GH4D-CPB1-GYAU-EC5B-CCSU-NPUD-CESU-OA3O-GOSU-EPBZ-8YSU-R3JS-GWAU-KAMD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE
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