(26% OF EXAM COMPETENCIES)
QUESTIONS & A+ GRADED ANSWERS
Good management accounting is motivated by:
- Government regulators
- Accounting rules
- Management's desire to improve
- All of these are correct - Correct Answer ✔✔ Management's desire to improve
Production prioritizing is: - Correct Answer ✔✔ The continual evaluation of the
profitability of the various product lines and divisions.
The control of operations involves all the following procedures EXCEPT:
- Tracking actual performance
- Analyzing results
- Creating performance measures
- Establishing expectations - Correct Answer ✔✔ Analyzing results
Which of the following principles are the LEAST uniform and are NOT mandatory?
- Financial reporting principles
- Tax reporting principles
- All of these are equally uniform and mandatory
- Management accounting principles - Correct Answer ✔✔ Management accounting
principles
The first step in management planning is: - Correct Answer ✔✔ Defining the problem
With regard to a particular company, which of the following groups generally has the
widest variety of decisions to make? - Correct Answer ✔✔ Managers
Which of the following would NOT be included in manufacturing overhead?
- Factory utilities
- Direct labor
- Indirect materials
- Factory fire insurance - Correct Answer ✔✔ Direct labor
You want to go skiing for the day. The cost of the lift ticket would be considered a(n): -
Correct Answer ✔✔ Out-of-pocket cost