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Managerial Accounting - Download Now DOC


									Question 1               2 / 2 points

Which of the following statements about corporate social responsibility (CSR) is not correct?

Question options:

CSR is a concept whereby organizations consider the needs of all stakeholders when making decisions.

CSR extends beyond legal compliance.

CSR includes voluntary actions that satisfy the expectations of customers, employees, suppliers,
communities, and environmental and human rights advocates.

All of the above statements are correct.

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Question 2               2 / 2 points

The manager of the accounting department is known as the:

Question options:

Chief Financial Officer (CFO).


Accounting department manager.

Chief Executive Officer (CEO).

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Question 3              2 / 2 points

The just in-time (JIT) production facet of the lean thinking model would likely have the most profound
effects on the operations of companies that maintain:

Question options:

raw materials, work in process, and finished goods inventories.

raw materials and work in process inventories.

raw materials and finished goods inventories.

work in process and finished goods inventories.

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Question 4              2 / 2 points

Which of the following is true of just-in-time (JIT) production systems?

Question options:

Raw materials are received just in time to go into production.

Marketing is scheduled just in time to generate customer orders.

The flow of goods is controlled by a push approach.

JIT approaches can be contrasted with conventional approaches which advocate a pull approach.
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Question 5               2 / 2 points

Which of the following is a procedure inherent in the Theory of Constraints?

Question options:

Identify the strongest link.

Do not place a greater strain on the system that the strongest link can handle.

Concentrate improvement efforts on strengthening the strongest link.

Improvement efforts must be focused on the constraint.

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Question 6               2 / 2 points

The IMA's Statement of Ethical Professional Practice includes which of the following broad categories?

Question options:



All of the above.

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Question 7              2 / 2 points

Which of the following statements about the Sarbanes-Oxley Act of 2002 is not correct?

Question options:

The Act requires the CFO and the Controller certify in writing that their company's financial statements
and accompanying disclosures fairly represent the results of operations.

The Act requires that a company's annual report contain an internal control report.

The Act establishes severe penalties of as many as 20 years in prison for altering or destroying any
documents that may eventually be used in an official proceeding and as many as 10 years in prison for
managers who retaliate against a whistle-blower who goes outside the chain of command to report

The Act places the power to hire, compensate, and terminate the public accounting firm that audits a
company's financial reports in the hands of the audit committee.

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Question 8              2 / 2 points

Management accounting

Question options:

is more concerned with the future than is financial accounting
is less concerned with segments of a company than is financial accounting

is more constrained by rules and regulations than is financial accounting

all of the above answers are true

Question 9              2 / 2 points

A managerial accountant who communicates information without bias is exercising which of the
following standards?

Question options:





Question 10             2 / 2 points

Managerial Accounting is governed by reporting rules created by which body?

Question options:

A)      The Financial Accounting Standards Board

B)      The Securities and Exchange Commission

C)      The Internal Revenue Service
D)   All of the above

E)   There are no reporting rules for Managerial Accounting

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