Chapter01.The Changing Role of Managerial Accounting in a Dynamic Business Environment

Chapter01.The Changing Role of Managerial Accounting in a Dynamic Business Environment

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Chapter 1: The Changing Role of Managerial Accounting in a Dynamic Business Environment MULTIPLE CHOICE QUESTIONS 1. Which of the following statements about managerial accountants is false ? A. Managerial accountants more and more are considered "business partners." B. Managerial accountants often are part of cross-functional teams. C. An increasing number of organizations are segregating managerial accountants in separate managerial-accounting departments. D. In a number of companies, managerial accountants make significant business decisions and resolve operating problems. E. The role of managerial accountants has changed considerably over the past decade. Answer: C LO: 1 Type: RC 2. The day-to-day work of management teams will typically comprise all of the following activities except : A. decision making. B. planning. C. cost minimizing. D. directing operational activities. E. controlling. Answer: C LO: 2 Type: RC 3. Which of the following functions is best described as choosing among available alternatives? A. Decision making. B. Planning. C. Directing operational activities. D. Controlling. E. Budgeting. Answer: A LO: 2 Type: RC 4. Which of the following managerial functions involves a detailed financial and operational description of anticipated operations? A. Decision making. B. Planning. C. Directing operational activities. D. Controlling. E. Measuring. Answer: B LO: 2 Type: RC Chapter 1 1
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5. Which of the following involves the coordination of daily business functions within an organization? A. Decision making. B. Planning. C. Directing operational activities. D. Controlling. E. Motivating. Answer: C LO: 2 Type: RC 6. Titan 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? A. Decision making. B. Planning. C. Coordinating. D. Controlling. E. Organizing. Answer: D LO: 2 Type: N 7. 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. Answer: C LO: 3 Type: RC 8. The role of managerial accounting information in assisting management is a(n): A. financial-directing role. B. attention-directing role. C. planning and controlling role. D. organizational role. E. problem-solving role. Answer: B LO: 3 Type: RC 9. Employee empowerment involves encouraging and authorizing workers to take initiatives to: A. improve operations. B.
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This note was uploaded on 06/22/2011 for the course ALL 101 taught by Professor Laus during the Spring '11 term at FIU.

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Chapter01.The Changing Role of Managerial Accounting in a Dynamic Business Environment

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