Test 1 spring 2011 sample questions

Test 1 spring 2011 sample questions - Test 1- Spring 2011...

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Test 1- Spring 2011 Sample questions: Chapters 1, 2, 3, and 4 1. Managerial accounting places less emphasis on precision and more emphasis on flexibility and relevance than financial accounting. A) TRUE B) FALSE 2. Which of the following is true of just-in-time (JIT) production systems? A) raw materials are received just in time to go into production B) marketing is generated just in time to generate customer orders C) the flow of goods is controlled by a push approach D) raw materials are normally ordered in large quantities E) all of the above 3. Managerial accounting places considerable weight on: A) generally accepted accounting principles. B) the financial history of the entity. C) detailed segment reports about departments, products, and customers. D) ensuring that all transactions are properly recorded. E) none of the above 4. The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT: A) A company's annual report must contain an internal control report. B) Financial statements must be audited once every three years by the Government Accounting Office. C) 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. D) Both the CEO and CFO must certify in writing that their company's financial statements and accompanying disclosures fairly represent the results of operations. E) none of the above 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 in all situations. B) refrain from disclosing confidential information acquired in the course of their work except
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This note was uploaded on 08/11/2011 for the course ACG 2071 taught by Professor Smith during the Spring '07 term at University of Central Florida.

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Test 1 spring 2011 sample questions - Test 1- Spring 2011...

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