Exam 1 Multiple-choice - BA541-E50 SUMMER 2009 NAME Mark...

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BA541-E50 SUMMER 2009 NAME: Mark Barboza Student #S0688412 EXAM 1 Multiple-Choice Instruction: In a separate sheet of paper write your answers in the following format: Ex. 1. a 2. c Make 4 columns: the first column 1-20, second column 21-40; third from 41-60; 4rth from 61- 69. 1. The phase of accounting concerned with providing information to managers for use in planning and controlling operations and in decision making is called: a. throughput time. b . managerial accounting. c. financial accounting. d. controlling. 2. For a manufacturing company, what type of position (line or staff) is each of the following? a. b . c. d. 3. One consequence of a change from a push to a properly implemented pull production system can be: a. an increase in work in process inventories. b. an extremely difficult cultural change due to enforced idleness when demand falls below production capacity. c. an increased mismatch between what is produced and what is demanded by customers. d. an increase in raw materials inventories. 4. The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT: a. The audit committee of the board of directors of a company must hire, compensate, and terminate the public accounting firm that audits the company's financial reports. b . Financial statements must be audited once every three years by the Government Accounting Office. c. Both the CEO and CFO must certify in writing that their company's financial statements and accompanying disclosures fairly represent the results of operations. d. A company's annual report must contain an internal control report.
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5. The Institute of Management Accountants' Standards of Ethical Conduct contains a policy regarding confidentiality that requires that management accountants: a. refrain from disclosing confidential information acquired in the course of their work except when authorized by management. b. refrain from disclosing confidential information acquired in the course of their work in all situations. c . refrain from disclosing confidential information acquired in the course of their work except when authorized by management, unless legally obligated to do so. d. refrain from disclosing confidential information acquired in the course of their work in all cases since the law requires them to do so. 6. The cost of the cushions that are used to manufacture sofas is best described as a: a. manufacturing overhead cost. b. period cost. c . variable cost. d. conversion cost. 7. Chezpere Company manufactures and sells washing machines. In order to make assembly of the machines faster and easier, some of the metal parts in the machines are coated with grease. How should the cost of this grease be classified? a.
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This note was uploaded on 08/02/2009 for the course ACCOUNTING BM 541 taught by Professor A during the Spring '09 term at Monmouth University-West Long Branch.

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Exam 1 Multiple-choice - BA541-E50 SUMMER 2009 NAME Mark...

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