Pick the best answer: Question 1 Management accounting Answer 1. provides object
ID: 2381294 • Letter: P
Question
Pick the best answer:
Question 1
Management accounting
Answer
1. provides objective financial information
must adhere to GAAP
3. has no mandatory rules
4. none of the other statements are true
Question 2
Activity-based costing
Answer
1. is a traditional costing method
2. encourages process value analysis
3. always results in a lower cost assigned to goods or services
4. all of these
Question 3
The controller of an organization participates in
Answer
1. planning
controlling
3. decision making
4. all of these
Question 4
The objective of profit maximization
Answer
1. should be the only goal of an organization
2. is an objective of Financial accounting but not Management accounting
3. should be achieved through legal and ethical means
should outweigh the goal of product quality
Question 5
Which of the following areas is not emphasized on the CMA examination?
Answer
1. external auditing and business law
economics, finance, and management
3. decision analysis and information systems
4. financial accounting and reporting
Question 6
An indirect cost
Answer
can be easily and accurately traced to a cost object.
is hard to trace.
should never be assigned to a cost object.
do none of these.
Question 7
Which of the following is an example of an intangible product?
Answer
hamburgers
computers
automobiles
dental care
Management accounting
Answer
1. provides objective financial information
2.must adhere to GAAP
3. has no mandatory rules
4. none of the other statements are true
Explanation / Answer
1. 3 2. 2 3. 4 4. 3 5.1. 6. 2 7 4