COST MANAGEMENT MEASURING
MONITORING AND MOTIVATING
PERFORMANCE COMPREHENSIVE
EXAMINATION TEST COMPLETE
QUESTIONS AND CORRECT ANSWERS
●● It invovles development of sustainable competitive position
Answer: Strategic Management
●● It involves the development of cost management information
Answer: Strategic cost management
●● It is critical factor in the effective management of a firm or
organization
Answer: Cost management information
●● It is the information that managers need to effectively manage the
firm, profit oriented or not-for-profit organization
Answer: Cost management information
●● It is a practice of accounting in which account develop and uses cost
management information
,Answer: Cost management
●● It is a value-added concept
Answer: Cost management information
●● It is very important to the success of every firm or organization
Answer: Effective strategic management
●● The time of introduction of new product to its removal from the
market
Answer: Product life cycle
●● It is necessary in a dynamic and competitive environment
Answer: Intergrative thinking
●● Cost management information is useful to organization
Answer: a. Business firm
b. Governmental units
c. Not for profit organization
●● Categories of business firm
Answer: a. Merchandising
, b. Manufacturinh
c. Services
●● Uses of cost management information
Answer: a. Strategic Management
b. Planning and decision making
c. Management and operational control
d. Reportorial and Compliance to legal requirements
●● It involve the identifying and implementing goals and action plan
Answer: Strategic Management
●● Involves the budgeting and profit planning
Answer: Planning and decision making
●● It needed to provide a fair and effective basis
Answer: Cost management information
●● It is evaluation of mid level manager by upper level manager
Answer: Management control
MONITORING AND MOTIVATING
PERFORMANCE COMPREHENSIVE
EXAMINATION TEST COMPLETE
QUESTIONS AND CORRECT ANSWERS
●● It invovles development of sustainable competitive position
Answer: Strategic Management
●● It involves the development of cost management information
Answer: Strategic cost management
●● It is critical factor in the effective management of a firm or
organization
Answer: Cost management information
●● It is the information that managers need to effectively manage the
firm, profit oriented or not-for-profit organization
Answer: Cost management information
●● It is a practice of accounting in which account develop and uses cost
management information
,Answer: Cost management
●● It is a value-added concept
Answer: Cost management information
●● It is very important to the success of every firm or organization
Answer: Effective strategic management
●● The time of introduction of new product to its removal from the
market
Answer: Product life cycle
●● It is necessary in a dynamic and competitive environment
Answer: Intergrative thinking
●● Cost management information is useful to organization
Answer: a. Business firm
b. Governmental units
c. Not for profit organization
●● Categories of business firm
Answer: a. Merchandising
, b. Manufacturinh
c. Services
●● Uses of cost management information
Answer: a. Strategic Management
b. Planning and decision making
c. Management and operational control
d. Reportorial and Compliance to legal requirements
●● It involve the identifying and implementing goals and action plan
Answer: Strategic Management
●● Involves the budgeting and profit planning
Answer: Planning and decision making
●● It needed to provide a fair and effective basis
Answer: Cost management information
●● It is evaluation of mid level manager by upper level manager
Answer: Management control
