C213 Accounting for Decision Makers-Module | 333 Questions and Answers with complete solution 85 pages

Good management accounting is motivated by: - Management's desire to improve. (Module 9.1) The process of making decisions about future operations is called: - Planning (Module 9.2) Accounting information helps management to: - Decide how to control operations, Decide how to market products, Decide what prices to charge (Module 9.2) Identifying problems and opportunities is a product of which process? - Evaluating (Module 9.2) Variances which result from a comparison of actual performance against expected results would be used in which management function? - Evaluating (Module 9.2) The first step in management planning is: - Defining the problem (Module 9.2) Advertising, insurance, and executives' salaries are all examples of: - Fixed costs (Module 9.3) Materials used in production are classified as "direct materials" if they are: - Traceable to specific products (Module 9.3) The product costs of a software development company would NOT include: - Salary of the CEO (Module 9.3) The product costs of a software development company would include: - Computer programmers' salaries, Computer lease, Supplies used by programmers (Module 9.3) Zodiac Company's total costs are the same at all levels of activity. The company's cost structure must have all: - Fixed costs (Module 9.3)If total cost stays the same, even though the production level has risen, the cost is a(n): - Fixed cost (Module 9.3) The top accountant in most large organizations is usually called the: - Controller (Module 9.4) Which one of the following is NOT an ethical guideline that the Institute of Management Accountants (IMA) requires its members to follow? - Not disclose confidential information, Maintain objectivity when communicating information to decision makers, Act with both actual and apparent integrity in all situation (Module 9.4) What is the first step a business professional should take when confronted with a situation that may involve an ethical conflict? - Discuss the problem with the immediate supervisor. (Module 9.4)