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Test 1 spring 2011 sample questions with correct answers

Test 1 spring 2011 sample questions with correct answers -...

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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: 4. The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT: Accounting Office. terminate the public accounting firm that audits the company's financial reports. and accompanying disclosures fairly represent the results of operations. 5. The Institute of Management Accountants' Standards of Ethical Conduct contains a policy regarding confidentiality that requires that management accountants: situations. when authorized by management. except when authorized by management, unless legally obligated to do so. cases since the law requires them to do so.
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