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sample_midterm1_winter2007

sample_midterm1_winter2007 - Question 1(25 marks questions...

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Question 1 (25 marks: questions with an “*” are worth 2 marks, all others, 1 mark) ANSWER THESE QUESTIONS ON THE SCANTRON CARD 1. Which of the following managerial activities involves the coordination of daily activities within an organization? a. Planning b. Directing and motivating c. Controlling d. None of the above 2. Which of the following involves the study of organizations that are among the best in the world at performing a particular task? 3. Which of the following is not considered a standard of ethical conduct for management accountants? 4. Which of the following statements pertaining to Managerial Accounting is false? 5. Which of the following statements reflects a key concept of a JIT production system? a. Inventories of raw materials, work-in-process, and finished goods inventories of manufacturing companies are maintained so that operations can proceed smoothly, even if suppliers are late with deliveries. b. The use of many suppliers ensures rapid delivery of materials for production. c. The maintenance of a stock of raw materials allows defective materials to be replaced quickly so as to maintain a high rate of productivity. d. Inventories are costly to carry and can be kept to minimum levels or eliminated completely with careful planning.
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6. Which of the following managerial activities involves the comparison of budgeted to actual results? 7. Which of the following statements about line and staff positions in organizations is false?
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