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Certified Management Accountant Exam Questions
Budget - Correct Answer-A planning tool, control tool, motivational tool,
and a communication tool. Helps communicate to all employees what
goals the firm is trying to accomplish.
Incremental goals - Correct Answer-must be achieved each month or
week. especially important in seasonal business
controllability - Correct Answer-Extent to which a manager can influence
activities and related revenues and costs.
Controllable costs - Correct Answer-Costs that are under the discretion
of a particular manager
Noncontrollable costs - Correct Answer-Costs to which another level of
the organization has committed, removing the manager's discretion.
The planning process... - Correct Answer-Coordinates the efficient
allocation of organization resources
Standard costs - Correct Answer-Predetermined expectation about how
much a unit of input, a unit of output, or a given activity should cost.
Authoritative(top-down) Approach to standard setting - Correct Answer-
Ensures total consistency across all functional areas. Far less complex
and time-consuming than coordinating input from the middle and lower
levels
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Certified Management Accountant Exam Questions
Budget - Correct Answer-A planning tool, control tool, motivational tool,
and a communication tool. Helps communicate to all employees what
goals the firm is trying to accomplish.
Incremental goals - Correct Answer-must be achieved each month or
week. especially important in seasonal business
controllability - Correct Answer-Extent to which a manager can influence
activities and related revenues and costs.
Controllable costs - Correct Answer-Costs that are under the discretion
of a particular manager
Noncontrollable costs - Correct Answer-Costs to which another level of
the organization has committed, removing the manager's discretion.
The planning process... - Correct Answer-Coordinates the efficient
allocation of organization resources
Standard costs - Correct Answer-Predetermined expectation about how
much a unit of input, a unit of output, or a given activity should cost.
Authoritative(top-down) Approach to standard setting - Correct Answer-
Ensures total consistency across all functional areas. Far less complex
and time-consuming than coordinating input from the middle and lower
levels
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