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Certified Management Accountant exam
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.
especcially 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 efficeint 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.
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Certified Management Accountant exam
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.
especcially 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 efficeint 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.
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