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MANACC PRELIM EXAM 1ST SEM AY2017-18.docx - College of...

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College of Business and Accountancy Management Accounting 1 st Semester, A.Y. 2017 - 2018 Preliminary Term Examination Name: ________________________________________ Date: ___________ Course Year & Section: _____________________ Score: __________ Instruction: Answer the following questions. Strictly NO ERASURES are allowed. MULTIPLE CHOICE. Encircle the letter of your choice. Show your solutions. 1. Which of the following is not an objective of managerial accounting? A. Providing information for decision making and planning. B. Assisting in directing and controlling operations. C. Maximizing profits and minimizing costs. D. Measuring the performance of managers and subunits. E. Motivating managers toward the organization's goals. 2. The role of managerial accounting information in assisting management is a(n): 3. For internal uses, managers are more concerned with receiving information that is: 4. Managerial accounting places considerable weight on: A. generally accepted accounting principles. B. the financial history of the entity. C. ensuring that all transactions are properly recorded. D. detailed segment reports about departments, products, and customers. 5. Management accounting’s role in the control processes is to provide A. managers with information that can be used to determine customer satisfaction levels. B. investors and creditors information on the financial stability of the company. C. managers with relevant information to compare with expectations. D. input to managers on the best ways to achieve continuous improvement in the production process. 6. Which of the following functions is best described as choosing among available alternatives? 7. Which of the following managerial functions involves a detailed financial and operational description of anticipated operations? Page 1 of 15
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A. Decision making. B. Planning. C. Directing operational activities. D. Controlling. E. Measuring. 8. AAA Company has set various goals, and management is now taking appropriate action to ensure that the firm achieves these goals. One such action is to reduce outlays for overhead, which have exceeded budgeted amounts. Which of the following functions best describes this process?
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