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1. Controlling involves the coordination of daily business functions within an organization. FALSE 2. Measuring the performance of managers and subunits is not an objective of managerialaccounting. FAlSE 3. Middle-level managers would likely be considered internal users of accounting informationrather than external users. TRUE 4. A controller is normally involved with preparing financial statements. TRUE 5. The upper limit on the production of goods and services if everything works perfectly is known as practical capacity. FALSE 6. Which of the following statements about managerial accountants is false? A. Managerial accountants more and more are considered “business partners.” B. Managerial accountants often are part of cross functional teams. C. Increasing number of organizations are segregating managerial accountants in separatemanagerial accounting departments. D. In a number of companies managerial accountants make significant business decisions andresolve operating problems. E. The role of managerial accountants has changed considerably over the past decade 7. The day-to-day work of management teams will typically comprise all of the followingactivities except A. decision making. B. planning. C. cost minimizing. D. directing operational activities. E. controlling. 8. Which of the following functions is best described as choosing among available alternatives? A. Decision making. B. Planning. C. Directing operational activities. 1. LO 1.1The managers of an organization are responsible for performing several broad functions.
They are ________. 2. LO 1.1Management accountants help the management of an organization in their planning function through ________.
3. LO 1.1Which of the following is a primary aspect of the evaluating function within an organization?
4. LO 1.1During the control function, the measurements taken of the performance must be accurate enough to see ________.
5. LO 1.1Which of the following is false regarding strategic planning?
6. LO 1.2Managerial accounting produces information:
7. LO 1.2Management accounting:
8. LO 1.2Internal users of accounting information would not include ________.
9. LO 1.2External users of accounting information would include ________.
10. LO 1.2Which of the following statements is incorrect?
11. LO 1.3The stockholders of a company are:
12. LO 1.3The controller of a corporation:
13. LO 1.3The Chartered Financial Analyst (CFA) certification:
14. LO 1.3The Certified Management Accountant (CMA) certification:
15. LO 1.3Which of the following terms means the ability to work in cross-functional teams in order to complete a task?
16. LO 1.3Which of the following terms means knowing how a business is run and how it is influenced by external forces, and knowing and understanding the overall industry?
17. LO 1.4What is the law that protects investors from fraudulent financial accounting activity?
18. LO 1.4What year was the Sarbanes-Oxley Act enacted?
19. LO 1.4When a representative of an organization gives money to another business official in order to gain favor and/or manipulate a business decision, this is known as ________.
20. LO 1.4The law that specifically prohibits payments to foreign officials in order to attain business is known as ________.
21. LO 1.4Which of the following is not a step in the outline for examining ethical issues?
22. LO 1.5Which of the following is not an objective used in the balanced scorecard approach?
23. LO 1.5Which of the following is not true regarding continuous improvement?
24. LO 1.5A company’s attempts to utilize sustainable business practices with regard to its employees, the environment, and society are known as ________.
25. LO 1.5A process that is often linked to Six Sigma and is designed toward continuous improvement by eliminating waste is ________.
26. LO 1.5An inventory system that organizations use to increase efficiency and decrease waste is ________.
27. LO 1.5A quality control program that depends on multiple team members for removing waste and diminishing defects within products is ________.
Which of the following statements is not true about managerial accounting information?The correct answer is b. managerial accounting information is not required by various laws is the correct answer. Managerial accounting information is required by various laws.
Which of the following statement is false managerial accounting?Answer and Explanation: Answer: a) Managerial accounting cannot be used to determine how many products need to be sold in order to cover the recurring cost.
Which of the following statements regarding management accounting reports is correct?Detailed managerial accounting reports can be accessed by the CEO and managers of the company, not the current shareholders. Therefore, correct answer is B. internal decision - makers . Managerial accounting is the process of communicating the information to the internal-decision makers.
Which one of the following is not management accounting tools Mcq?This is Expert Verified Answer
The main instrument of management accounting is financial statement analysis. We collect four income reports in this tool: a financial statement, a balance sheet, a cash flow statement, and a fund flow statement. A profit and loss statement is not a financial analytical tool.
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