BUSI 601 TEST QUESTIONS AND CORRECT ANSWERS (GRADED A+)
Which of the following organization supports the growth and professionalism of management
accounting practice - Answers IMA
Which of the following is not a contemporary technique used by the management accountant to focus
on process improvement - Answers Cost management
The competitive strategy of cost leadership allows a firm to outperform competitor by products or
services - Answers at lower cost achieved by increasing productivity
A strategy can best be defined as - Answers a plan for using a firms resources to achieve sustainable
goals within a competitive environment
the five steps of strategic decision making include all of the following except - Answers Gather,
summarize, and report accounting information
SWOT analysis a valuable analysis tool stands for - Answers Strengths, weaknesses, opportunities,
threats
in terms of strategic cost management for non-profit organizations, which of the following is false -
Answers Value chain analysis can be used for analyzing the organization's product design, product
testing, advertising and production processes
IN SWOT analysis, opportunities and threats are identified by - Answers looking outside the firm
During the strengths and weaknesses portion of a firms SWOT analysis which of the following would
NOT be discovered? - Answers due to a lack of barriers to entry into the industry, several new
competitors were beginning to enter the market
both cost leadership and differentiated firms can improve on execution through - Answers bench
marking and total quality management
The differentiation strategy requires all of the following resources, except - Answers Products designed
for ease of manufacture
the income statement for a manufacturing company includes - Answers total manufacturing cost and
cost of goods sold
which of the following would NOT be found in a merchandising company - Answers work in process
manufacturing firms use which of the following three inventory accounts - Answers materials, works in
process, finished goods
which of the following is an example of an indirect cost - Answers cost of downtime
the cost of operating a regional warehouse is an example of a - Answers distribution-channel cost
Which of the following organization supports the growth and professionalism of management
accounting practice - Answers IMA
Which of the following is not a contemporary technique used by the management accountant to focus
on process improvement - Answers Cost management
The competitive strategy of cost leadership allows a firm to outperform competitor by products or
services - Answers at lower cost achieved by increasing productivity
A strategy can best be defined as - Answers a plan for using a firms resources to achieve sustainable
goals within a competitive environment
the five steps of strategic decision making include all of the following except - Answers Gather,
summarize, and report accounting information
SWOT analysis a valuable analysis tool stands for - Answers Strengths, weaknesses, opportunities,
threats
in terms of strategic cost management for non-profit organizations, which of the following is false -
Answers Value chain analysis can be used for analyzing the organization's product design, product
testing, advertising and production processes
IN SWOT analysis, opportunities and threats are identified by - Answers looking outside the firm
During the strengths and weaknesses portion of a firms SWOT analysis which of the following would
NOT be discovered? - Answers due to a lack of barriers to entry into the industry, several new
competitors were beginning to enter the market
both cost leadership and differentiated firms can improve on execution through - Answers bench
marking and total quality management
The differentiation strategy requires all of the following resources, except - Answers Products designed
for ease of manufacture
the income statement for a manufacturing company includes - Answers total manufacturing cost and
cost of goods sold
which of the following would NOT be found in a merchandising company - Answers work in process
manufacturing firms use which of the following three inventory accounts - Answers materials, works in
process, finished goods
which of the following is an example of an indirect cost - Answers cost of downtime
the cost of operating a regional warehouse is an example of a - Answers distribution-channel cost
