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Unformatted text preview: http://belkcollegeofbusiness.uncc.edu/pgmynatt/Sample%20Questions%20Chapters %201%202%203%205.pdf The following questions were extracted from past exams. They are intended for you to become familiar with the types and the formats of questions that you will be asked on the upcoming exam. Studying ONLY these sample questions will not adequately prepare you for the exam. You should also read the textbook and review the problems that I presented in class. 1. Managerial accounting: A. has its primary emphasis on the future. B. is required by regulatory bodies such as the SEC. C. focuses on the organization as a whole, rather than on the organization's segments. D. Responses a, b, and c are all correct 2. Financial accounting focuses on A. helping managers making decisions B. providing financial results of a company to the public C. only certain segments of a company D. financial reporting to the public by ALL businesses in the United States 3. For internal uses, managers are more concerned with receiving information that is: A. completely objective and verifiable. B. completely accurate and precise. C. relevant, flexible, and immediately available. D. relevant, completely accurate, and precise. 4. The manager in charge of the accounting department is generally known as A. the chief financial officer B. the treasurer C. the internal auditor D. the controller 5. The Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management states that significant ethical issues should be discussed first with an immediate superior unless the superior is involved. If satisfactory resolution cannot be achieved when the problem is initially presented, then the issues should be: A. submitted to the next higher managerial level. B. submitted to the chief executive officer of the firm. C. submitted to the audit committee, executive committee, board of directors, or owners. D. submitted to outside legal counsel. 6. Jack in the Box’s motto, “We don’t make it ‘til you order it,” connotes which of the following? A. The quality of food served at the restaurant. B. Just-in-time philosophy. C. Decentralization. D. Process reengineering. 2 7. The plans of management are expressed formally in: A. the annual report to shareholders. B. Form 10-Q submitted to the Securities and Exchange Commission. C. performance reports. D. budgets. 8. 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 organization. C. is superior in authority to a line position. D. none of these. 9. The Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management 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 an outside attorney. except when authorized by an outside attorney....
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This note was uploaded on 12/07/2010 for the course ACC 001 taught by Professor Cheese during the Spring '10 term at Utah Valley University.
- Spring '10