,
,3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
, 5) Managers typically receive reports on cost planning and controls that should be considered for external
use only.
Answer: FALSE
Diff: 2 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
6) There are three (3) basic business strategies: low cost, premium products, and customer satisfaction.
Answer: FALSE
Diff: 1 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
7) Companies with a strategy of low prices compete on their ability to offer unique new products or
services that are priced higher than their competition.
Answer: FALSE
Diff: 1 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
8) Cost management only involves short-term decisions that attempt to increase value for customers and
lower the costs of products or services.
Answer: FALSE
Diff: 1 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
,3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
, 5) Managers typically receive reports on cost planning and controls that should be considered for external
use only.
Answer: FALSE
Diff: 2 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
6) There are three (3) basic business strategies: low cost, premium products, and customer satisfaction.
Answer: FALSE
Diff: 1 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
7) Companies with a strategy of low prices compete on their ability to offer unique new products or
services that are priced higher than their competition.
Answer: FALSE
Diff: 1 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
8) Cost management only involves short-term decisions that attempt to increase value for customers and
lower the costs of products or services.
Answer: FALSE
Diff: 1 Type: TF
CPA Competencies: Chapter 1 -
3.1.1 Evaluates management information requirements,
3.1.2 Evaluates the types of information systems used and the role they play in an organization,
3.1.4 Identifies ethical and privacy issues related to information technology
Skill: Remembering
Objective: LO 1-1
