Midterm1Bus21-w-outName.pdf

Midterm1Bus21-w-outName.pdf - Managerial Accounting Exam 1...

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Managerial Accounting Exam 1 Version A Chapters lr2r3 1. The controller's position in a retail company is considered a line position rather than a staff position. True lalse 2. Companies that adopt a customer intimacy strategy are in essence saying to their target customers, "The reason you should choose us is because we understand and respond to your individual needs better than our competitors." True False 3. A value chain consists of the major business functions that add value to the company's products and services. True False 4. An enterprise system integtates data across an orgarization into a single software system that enables all employees to have simultaneous access to a common set of data. True False 5. Managerial accounting places considerable weight on: A. generally accepted accounting principles. B. the financial history of the entity. ). ensuring thatall transactions are properly recorded. - D J^toil^'l comonf rannrf,c olrn'rt Aarorlmonlc n-nd'rnfs ond nrrsfnmcrs u. g!!4rrvu rvbrrlvrr! Ivlrurrr t .!rg leJlv^rrvrv. 6. The plans of management are often expressed formally in: A. frnancial statements. B. performance reports. C. budgets. D. ledgers. 7. A staff position: A. relates directly to the carrying out of the basic objectives of the organization. B. is supportive in nature, providing service and assistance to other parts of the orgarizalion. C. is superior in authority to a line position. D. none of these.
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8. For a manufacturing company, what type of position (line or staff) is each of the following? Manager of a Data Manager of a Production Processing Departrnent Department -,{. Staff Staff B. " Staff Lrne C. Line Staff D. Line Lne 9.A position in an organization is directly related to the achievement of the organization's basic objectives. ;!,r line B. management C. staff D. none of these. 10. 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. 11. The Institute of Management Accountants' Standards of Ethical Conduct contains a policy regarding 'onfidentiality that requires that management accountants: -A. refrain from disclosing confidential information acquired in the course of their work exceot when authorized by management. B. refrain from disclosing confidential information acquired in the course of their work in all situations. (Orefrain 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
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Midterm1Bus21-w-outName.pdf - Managerial Accounting Exam 1...

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