Questão 1
Questão
The primary users of management accounting information are typically:
Responda
-
Politicians, Bankers, and the IRS
-
Shareholders and others who can use it to sue the corporation and get rich
-
Managers within the organization
-
all stakeholders of the organization
-
all of the above
Questão 2
Questão
The Management Accountants' Ethics code states that when faced with significant ethical issues, management accountants should first:
Responda
-
discuss such problems with the President of the organization except when it appears that the President is involved.
-
clarify relevant concepts by confidential discussion with an objective advisor to obtain an understanding of possible courses of action.
-
follow the established policies of the organization bearing on the resolution of such conflict.
-
submit and informative memorandum describing the ethical issue to an appropriate representative of the organization and resign if no action is taken as a result of the memorandum
Questão 3
Questão
Managerial accounting:
Responda
-
has its primary emphasis on the future
-
is required by regulatory bodies such as SEC
-
focuses on the organization as a whole, rather than on the organization's segments.
-
all the above.
Questão 4
Questão
The three basic elements of manufacturing cost are:
Questão 5
Questão
Transportation costs incurred by a manufacturing company to ship its product to its customers would be classified as which of the following?
Responda
-
Product cost
-
manufacturing overhead
-
period cost
-
administrative cost
Questão 6
Questão
Cost of goods manufactured will usually include
Responda
-
only costs incurred during the current period
-
only direct labor and direct materials costs
-
some costs incurred during the prior period as well as costs incurred during the current period
-
some period costs as well as some product costs
Questão 7
Questão
which one of the following costs should NOT be considered an indirect cost of serving a particular customer at a Dairy Queen fast food outlet?
Responda
-
a cost of the hamburger patty in the burger they ordered
-
the wages of the employee who takes the customer's order
-
the cost of heating and lighting the kitchen
-
the salary of the outlet's manager
Questão 8
Questão
The cost of goods sold in a merchandising company typically would be classified as a
Responda
-
fixed cost
-
variable cost
-
step-variable cost
-
mixed cost
Questão 9
Questão
The contribution approach to the income statement:
Responda
-
organizes costs on a functional basis
-
is useful to managers in planning and decision making
-
shows a contribution margin rather than a net operating income figure at the bottom of the statement
-
can be used only by manufacturing companies
Questão 10
Questão
On a cost-volume-profit graph, the break-even point is located
Questão 11
Questão
Which of the following is true regarding the contribution margin ratio of a single product company?
Responda
-
as fixed expenses decrease, the contribution margin ratio increases
-
the contribution margin ratio multiplied by the variable expense per unit equal the contribution margin per unit
-
if sales increase, the dollar increase in net operating income can be computed by multiplying the contribution margin ratio by the dollar increase in sales
-
the contribution margin ratio increases as the number of units sold increases
Questão 12
Questão
a company increased the selling price for its product from $5 to $6 per unit when total fixed expenses increased from $100,000 to $200,000 and variable expense per unit remained unchanged. How would these changes affect the breakeven point?
Responda
-
the break-even point in units would decrease
-
the break-even point in units would increase
-
the break-even point in units would remain unchanged
-
the effect cannot be determined from the information given
Questão 13
Questão
Financial accounting reports are prepared for external parties, whereas managerial accounting reports are prepared for internal users.
Questão 14
Questão
Financial accounting is more focused on precision when making reports. Managerial accounting provides decision makers with good estimates ASAP and precise data later.
Questão 15
Questão
Managerial accounting focuses on the company as a whole, financial accounting focuses on segment reports.
Questão 16
Questão
Financial accounting must follow GAAP and IRS guidelines. Managerial accounting doesn't have externally imposed rules.
Questão 17
Questão
Managerial accounting is mandatory while financial accounting is optional.
Questão 18
Questão
What are the 3 activities that managerial accounting helps managers carry out?
Responda
-
planning
-
financing
-
controlling
-
decision making
-
hiring
Questão 19
Questão
What does the planning aspect of managerial accounting include?
Responda
-
establishing goals and specifying how to achieve them (includes budgeting)
-
setting a structure for the company
-
gathering feedback to make new plan for running the company
-
planning is not relevant to managerial accounting
Questão 20
Questão
What is involved in the control aspect of managerial accounting
Responda
-
controlling is not relevant
-
it involves gathering feedback to ensure that plans are being followed. (involves performance reports that compare budgeting to actual results)
-
involves making budgets to follow
-
involves being a tyrannical boss.
Questão 21
Questão
What 3 questions does managerial decisions making revolve around?
Responda
-
Who are we?
-
What should we be selling?
-
Who should we be serving?
-
What is our budget?
-
How should we execute?
-
What purpose do we serve?
Questão 22
Responda
-
International Management Association
-
Institue of Managerial Accounting
-
Institue of Management Accountants
-
International Money Association
Questão 23
Questão
What 2 things does the IMA's Statement of Ethical Professional Practice offer guidelines for?
Responda
-
Ethical Behavior
-
How to be a managerial accountant
-
Rules of managerial accounting
-
Resolution for an ethical conflict.
Questão 24
Questão
What are the 4 categories of guidelines for Ethical Behavior as defined by the IMA?
Responda
-
Competence
-
Confidentiality
-
Integrity
-
Credibility
-
Communication
-
Respectfulness
Questão 25
Questão
Which of the following does not fall under the category of Competency in IMA's guidelines for Ethical Behavior?
Responda
-
Recognize and communicate professional limitations that preclude responsible judgment.
-
Follow applicable laws, regulations, and standards.
-
Ensure that subordinates do not disclose confidential information.
-
Maintain professional competence.
-
Provide accurate, clear, concise, and timely decision support information.
Questão 26
Questão
Which of the following does not fall under the category of Confidentiality in IMA's guidelines for Ethical Behavior?
Responda
-
Do not disclose confidential information unless legally obligated to do so.
-
Ensure that subordinates do not disclose confidential information.
-
Refrain from conduct that would prejudice carrying out duties ethically.
-
Do not use confidential information for unethical or illegal advantage.
Questão 27
Questão
Which of the following does not fall under the category of Integrity in IMA's guidelines for Ethical Behavior?
Responda
-
Communicate information fairly and objectively.
-
Mitigate conflicts of interest and advise others of potential conflicts.
-
Abstain from activities that might discredit the profession.
-
Refrain from conduct that would prejudice carrying out duties ethically.
Questão 28
Questão
Which of the following does not fall under the category of Credibility in IMA's guidelines for Ethical Behavior?
Responda
-
Communicate information fairly and objectively.
-
Do not disclose confidential information unless legally obligated to do so.
-
Disclose all relevant information that could influence a user’s understanding of reports and recommendations.
-
Disclose delays or deficiencies in information timeliness, processing, or internal controls.
Questão 29
Questão
Contact with levels above the immediate supervisor should only be initiated with the supervisor's knowledge, assuming they are not involved.
Questão 30
Questão
If your immediate supervisor is the CEO who should you consider going to?
Questão 31
Questão
If your superior is involved should you just let go of the conflict
Questão 32
Questão
An example of a direct material is:
Questão 33
Questão
An example of Direct Labor would be wages paid to
Responda
-
Maintenance workers
-
Security guards
-
Assembly workers
-
Executive workers
Questão 34
Questão
What two things makeup Manufacturing Overhead?
Responda
-
Direct Labor
-
Indirect Labor
-
Indirect costs
-
Indirect materials
Questão 35
Questão
What is considered to be an indirect material
Questão 36
Questão
What is an example of Indirect Labor (costs)
Responda
-
Assembly line workers
-
Janitors
-
Executive workers
Questão 37
Questão
What are the 2 non manufacturing costs
Responda
-
Selling Costs
-
Administrative Costs
-
Direct Labor Costs
-
Materials Costs
-
Costs for janitors
Questão 38
Questão
Which of the following is not a selling cost?
Questão 39
Questão
Which of the following is not an Administrative Cost?
Questão 40
Questão
Which is NOT a Product Cost?
Responda
-
Direct materials
-
direct labor
-
selling costs
-
manufacturing overhead
Questão 41
Questão
Which is NOT a period cost?
Responda
-
selling costs
-
labor costs
-
administrative costs
Questão 42
Questão
Product costs are recognized as expenses when the products are sold
Questão 43
Questão
Period costs are expensed on the income statement
Questão 44
Questão
When are period costs "incurred"?
Responda
-
When employees earn them
-
When employees are paid
Questão 45
Questão
Which of the following costs would be considered a period rather than a product cost in a manufacturing company?
Responda
-
Manufacturing equipment depreciation
-
Property taxes on corporate headquarters
-
Direct materials costs
-
Electrical costs to light the production facility
-
Sales commissions
Questão 46
Questão
What two things make up a prime cost?
Responda
-
Direct materials
-
Manufacturing overhead
-
Indirect labor
-
Indirect Materials
-
Direct Labor
Questão 47
Questão
What two things make up conversion costs?
Responda
-
Direct Materials
-
Manufacturing Over
-
Indirect Labor
-
Indirect Material
-
Direct Material
Questão 48
Questão
Variable costs vary in direct proportion to activity
Questão 49
Questão
Variable costs per unit do not remain constant as activity changes
Questão 50
Questão
As the level of the activity base increases, the total variable cost
Questão 51
Questão
When activated rises, the fixed costs per unit,
Questão 52
Questão
Committed Fixed Costs can be altered in the short-term.
Questão 53
Questão
Discretionary costs are long term.
Questão 54
Questão
Which of the following costs would be variable with respect to the number of cones sold at a Baskins and Robbins shop?
Responda
-
The cost of lighting the store
-
The wages of the store manager
-
The cost of ice cream
-
The cost of napkins for customers
Questão 55
Questão
Y=a+bX is the equation for:
Responda
-
Fixed Costs
-
Variable Costs
-
Mixed Costs
-
Total Costs
Questão 56
Questão
In the equation Y=a+bX, Y=
Questão 57
Questão
In the equation Y=a+bX, a=
Questão 58
Questão
In the equation Y=a+bX, b=
Questão 59
Questão
In the equation Y=a+bX, X=
Questão 60