Managerial Accounting-MBA Prep Works Final ACTUAL UPDATED QUESTIONS
AND CORRECT ANSWERS
true as the production level increases the cost per unit decreases for a fixed cost (true
or false)
controller Eric Henley is starting his career as a management accountant with Jalo, INC. Most
likely, he will be placed in which department?
true in the long run, all fixed costs become variable (true or false)
, IMA a certifies management accountant (CMA) is expected to live by a code of ethics
promulgated by the ______
backward looking financial information reported in an annual report is _______ _________
forward looking financial information reported in internal management documents are ______ _____
false fixed cost per unit remains the same over all levels of production (true or false)
CFO and Board of Directors The director of auditing in most large corporations has two bosses, the ____ and
______ ___ _____
certified public accountant what does CPA stand for?
a managerial accountant the budget is a document usually prepared by:
management managerial accounting reports are prepared for:
there are none which of the following is a managerial accounting GAAP?
production department what department has a flexible budget?
variable costs costs that change in total with increased production are
true decreasing cost per unit indicates an element of fixed cost is present (true or
false)
auditing which area houses the largest group of management accountants?
true a variable cost changes in total over increasing amounts of units produced (true
or false)
False Direct materials are a conversion cost (true or false)
false period costs may be contained in finished goods inventory (true or false)
False producing cans of evaporated milk would lend itself to a job ordering costing
system (true or false)
False Job order costing requires the use of equivalent units (true or false)
AND CORRECT ANSWERS
true as the production level increases the cost per unit decreases for a fixed cost (true
or false)
controller Eric Henley is starting his career as a management accountant with Jalo, INC. Most
likely, he will be placed in which department?
true in the long run, all fixed costs become variable (true or false)
, IMA a certifies management accountant (CMA) is expected to live by a code of ethics
promulgated by the ______
backward looking financial information reported in an annual report is _______ _________
forward looking financial information reported in internal management documents are ______ _____
false fixed cost per unit remains the same over all levels of production (true or false)
CFO and Board of Directors The director of auditing in most large corporations has two bosses, the ____ and
______ ___ _____
certified public accountant what does CPA stand for?
a managerial accountant the budget is a document usually prepared by:
management managerial accounting reports are prepared for:
there are none which of the following is a managerial accounting GAAP?
production department what department has a flexible budget?
variable costs costs that change in total with increased production are
true decreasing cost per unit indicates an element of fixed cost is present (true or
false)
auditing which area houses the largest group of management accountants?
true a variable cost changes in total over increasing amounts of units produced (true
or false)
False Direct materials are a conversion cost (true or false)
false period costs may be contained in finished goods inventory (true or false)
False producing cans of evaporated milk would lend itself to a job ordering costing
system (true or false)
False Job order costing requires the use of equivalent units (true or false)
