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Exam 1: Introduction to Cost Management

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Question 41

Multiple Choice

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Which of the following is NOT a process associated with an accounting information system?

A) auditing existing data
B) collecting and recording data
C) providing information to users
D) analyzing and managing data

E) C) and D)
F) A) and B)

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Question 42

Multiple Choice

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Cost management is concerned with producing outputs for _____.

A) internal managers
B) creditors
C) investors
D) regulatory authorities

E) B) and C)
F) A) and B)

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Question 43

Multiple Choice

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An accountant certified to possess the minimal professional qualifications for an external auditor is a

You are a management accountant for the Eastern Division of Strong Enterprises. Your longtime friend, Alana Rodriguez, is the Eastern Division manager. Alana was instrumental in helping you obtain your current position. Because the manager's annual bonus is based on the amount of profit the Eastern Division reports for the year, Alana has asked you to "massage the numbers" to make the Eastern Division appear more profitable. Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to Alana Rodriguez' request?

Which of the following relates to the credibility section of the IMA Code of Conduct?

Which of the following describes the managerial activity of comparing actual results with budgeted results?

Identify and discuss the factors that are affecting the way cost accounting is practiced.

Evaluating the performance of a segment of the company is an example of planning.

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

How has the nature of accounting systems shifted in response to technology?

The manager has to decide what tasks are needed and how they should be accomplished. This statement describes

Financial accounting information is used for

Cost accounting

Which of the following positions would most likely be a staff manager?

Discuss how the goal of profit maximization is affected by ethical considerations. What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

For each certification, all an applicant has to do is meet specific educational and experience requirements.

Competitive advantage is established by providing

Only Certified Public Accountants are permitted by law to serve as _________.

The service sector of the U.S. economy has decreased in importance as traditional industries have declined in importance.

A demand-pull system that strives to produce a product only when it is needed and only in the quantities demanded by customers is referred to as: