U
R
U
G
R
TO
TU
, U
R
U
G
R
TO
TU
, U
R
U
G
R
TO
TU
, 5. Management accountants mainly are:
A. Internal consultants
B. Scorekeepers
C. Focused on calculating product costs
D. Corporate cops
E. Internal consultants and corporate cops.
While score-keeping and product costing are tasks performed by today's management accountants, these usually are considered
minor. The major roles they perform are internal consultant in terms of providing information to aid other's decision making and
corporate cop in terms of providing control systems to prevent fraud and performance measures for incentive systems.
TU
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Accessibility: Screen Reader Compatible
AICPA: BB Industry
AICPA: FN Decision Making
Blooms: Understand
Difficulty: 2 Medium
Topic: Management Accountant's Role in the Organization
TO
6. Internal control systems:
A. are the responsibility of the external auditor
B. include anti-fraud measures
C. are designed to allow financial misrepresentation
D. require that one person perform all aspects of a task
E. all of the above
R
The internal control system is designed to safeguard assets, protect the integrity of the accounting information system, and to
prevent fraud. A key practice is the separation of duties to ensure that critical tasks are performed by two or more people.
AACSB: Knowledge Application
G
Accessibility: Keyboard Navigation
Accessibility: Screen Reader Compatible
AICPA: BB Industry
AICPA: FN Decision Making
Blooms: Understand
Difficulty: 2 Medium
U
Topic: Management Accountant's Role in the Organization
R
U
3-3
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
R
U
G
R
TO
TU
, U
R
U
G
R
TO
TU
, U
R
U
G
R
TO
TU
, 5. Management accountants mainly are:
A. Internal consultants
B. Scorekeepers
C. Focused on calculating product costs
D. Corporate cops
E. Internal consultants and corporate cops.
While score-keeping and product costing are tasks performed by today's management accountants, these usually are considered
minor. The major roles they perform are internal consultant in terms of providing information to aid other's decision making and
corporate cop in terms of providing control systems to prevent fraud and performance measures for incentive systems.
TU
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Accessibility: Screen Reader Compatible
AICPA: BB Industry
AICPA: FN Decision Making
Blooms: Understand
Difficulty: 2 Medium
Topic: Management Accountant's Role in the Organization
TO
6. Internal control systems:
A. are the responsibility of the external auditor
B. include anti-fraud measures
C. are designed to allow financial misrepresentation
D. require that one person perform all aspects of a task
E. all of the above
R
The internal control system is designed to safeguard assets, protect the integrity of the accounting information system, and to
prevent fraud. A key practice is the separation of duties to ensure that critical tasks are performed by two or more people.
AACSB: Knowledge Application
G
Accessibility: Keyboard Navigation
Accessibility: Screen Reader Compatible
AICPA: BB Industry
AICPA: FN Decision Making
Blooms: Understand
Difficulty: 2 Medium
U
Topic: Management Accountant's Role in the Organization
R
U
3-3
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
