ACCTG 9456 - MANAGEMENT ACCOUNTING 1. TEST BANK. QUESTIONS AND ANSWERS. COMPLETE SOLUTIONS.
Management Accounting
A. Is governed by generally accepted
... [Show More] accounting principles.
B. Draws from disciplines other than accounting
C. Is geared primarily to the past rather than future.
D. Places more emphasis on precision of data compared with financial accounting which does not place more emphasis
on accuracy of information.
2. Management accounting is an integral part of the management process. As such, it provides essential information for the
following objectives except
A. Maintaining the current level of resources utilization as well as internal and external communication.
B. Measuring and evaluating performances.
C. Planning strategies and controlling current activities of the organization.
D. Enhancing objectivity in decisionmaking.
3. The chief management accountant called “controller” traditionally performs these functions except
A. The establishment and implementation of the financial planning process.
B. Financial and management reporting and interpretation.
C. Protection of company resources and economic evaluation.
D. Relate to specific problems where expert help is required.
6. Management accountants help design, develop, install and maintain reporting systems which are
aligned with the structures of the organization. These systems provide information that are useful
for decision making. Management decision processes fall into three categories.
A. Repetitive, non programmed and strategic
B. Repetitive, programmed and strategic
C. Repetitive, non programmed and nonstrategic
D. Non repetitive, non programmed and strategic
7. In this element of internal control, the object is to gauge the efficiency of the various levels of people in the organization
as well as the quality and quantity of results.
A. Records and reports
B. Standards and performance.
C. Internal audit
D. Policies and procedures.
12. You are newly appointed as controller of ABC Corporation. Among the jobs your department would do, include the
following:
A. Cash receipts, cash disbursement, general accounting, taxation, financial statements analysis and internal auditing.
B. Financial reporting, strategic planning, managerial accounting, taxation, financial statement analysis and
internal accounting.
C. Financial accounting, managerial accounting, cost accounting, inventory accounting, Payroll accounting, tax
accounting, and sales forecasting.
D. Tax accounting, internal accounting, internal auditing, general accounting.
15. Which of the following characteristics does not relate to management accounting?
A. Accounting reports may include nonmonetary
information.
B. It is subject to restrictions imposed by GAAP.
C. Reports are often based on estimates and are seldom useful for everything other than the purpose for which they are
prepared.
D. It provides data for external users within the business organizations. [Show Less]