Question 1

The philosophy and a business strategy of manufacturing without waste is referred to as:

Accepted Answer

A)  lean production.
B)  thin manufacturing.
C)  TQM.
D)  ISO 9001.E) None of the above
F) All of the above

Question 2

The person or position who is directly responsible for the company's operations,such as research and development,production and distribution is the:

Accepted Answer

A)  CEO.
B)  CFO.
C)  COO.
D)  Treasurer.E) None of the above
F) A) and D)

Question 3

Company initiatives to address sustainability and corporate responsibility not only "do the right thing",but also can lead to economic profits by increasing demand for the company's products and services.

Accepted Answer

A) True 
 B)False

Question 4

Oral and written communications skills are considered among the most valuable skills a management accountant can possess.

Accepted Answer

A) True 
 B)False

Question 5

Information for internal parties about past performance is provided by:

Accepted Answer

A)  budget reports.
B)  financial accounting reports.
C)  managerial accounting reports.
D)  planning reports.E) None of the above
F) A) and C)

Question 6

Which of the following types of information are used in managerial accounting?

Accepted Answer

A)  Financial information
B)  Nonfinancial information
C)  Forecasts of future earnings
D)  All of the aboveE) C) and D)
F) None of the above

Question 7

IFRS stands for:

Accepted Answer

A)  International and Foreign Reporting Systems.
B)  International Financial Reporting Standards.
C)  Important Foreign Registering Systems.
D)  International and Foreign Registering Standards.E) C) and D)
F) A) and D)

Question 8

You do not understand how "accrual accounting" works.You have failed which ethical standard?

Accepted Answer

A)  Competence
B)  Confidentiality
C)  Credibility
D)  IntegrityE) A) and C)
F) A) and B)

Question 9

Under Sarbanes-Oxley,companies must have their internal audit procedures assessed:

Accepted Answer

A)  annually.
B)  monthly.
C)  quarterly.
D)  at any time they choose.E) A) and D)
F) B) and D)

Question 10

The IMA's overarching ethical principles include: Honesty,Fairness,Objectivity,and Responsibility.

Accepted Answer

A) True 
 B)False

Question 11

XBRL is essentially a:

Accepted Answer

A)  new set of accounting standards.
B)  new set of auditing standards.
C)  a tagging system which allows computer programs to extract information from financial reports.
D)  new set of ethical standards.E) B) and D)
F) B) and C)

Question 12

The primary goal of managerial accounting is to provide information to:

Accepted Answer

A)  shareholders.
B)  creditors.
C)  internal decision-makers.
D)  both shareholders and creditors.E) C) and D)
F) B) and C)

Exam 1: Introduction to Managerial Accounting

The primary goal of managerial accounting is to provide information to:

Correct Answer
verified

Which of the following types of information are used in managerial accounting?

Correct Answer
verified

The IMA's overarching ethical principles include: Honesty,Fairness,Objectivity,and Responsibility.

Correct Answer
verified

Under Sarbanes-Oxley,companies must have their internal audit procedures assessed:

Correct Answer
verified

The philosophy and a business strategy of manufacturing without waste is referred to as:

Correct Answer
verified

You do not understand how "accrual accounting" works.You have failed which ethical standard?

Correct Answer
verified

IFRS stands for:

Correct Answer
verified

XBRL is essentially a:

Correct Answer
verified

Company initiatives to address sustainability and corporate responsibility not only "do the right thing",but also can lead to economic profits by increasing demand for the company's products and services.

Correct Answer
verified

Oral and written communications skills are considered among the most valuable skills a management accountant can possess.

Correct Answer
verified

Information for internal parties about past performance is provided by:

Correct Answer
verified

The person or position who is directly responsible for the company's operations,such as research and development,production and distribution is the:

Correct Answer
verified

Exam 1: Introduction to Managerial Accounting

The primary goal of managerial accounting is to provide information to:

Correct AnswerverifiedShow Answer

Which of the following types of information are used in managerial accounting?

Correct AnswerverifiedShow Answer

The IMA's overarching ethical principles include: Honesty,Fairness,Objectivity,and Responsibility.

Correct AnswerverifiedShow Answer

Under Sarbanes-Oxley,companies must have their internal audit procedures assessed:

Correct AnswerverifiedShow Answer

The philosophy and a business strategy of manufacturing without waste is referred to as:

Correct AnswerverifiedShow Answer

You do not understand how "accrual accounting" works.You have failed which ethical standard?

Correct AnswerverifiedShow Answer

IFRS stands for:

Correct AnswerverifiedShow Answer

XBRL is essentially a:

Correct AnswerverifiedShow Answer

Company initiatives to address sustainability and corporate responsibility not only "do the right thing",but also can lead to economic profits by increasing demand for the company's products and services.

Correct AnswerverifiedShow Answer

Oral and written communications skills are considered among the most valuable skills a management accountant can possess.

Correct AnswerverifiedShow Answer

Information for internal parties about past performance is provided by:

Correct AnswerverifiedShow Answer

The person or position who is directly responsible for the company's operations,such as research and development,production and distribution is the:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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