C although mas extends beyond the traditional

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C. Although MAS extends beyond the traditional accounting services, CPAs in the MS practice are still bound by the rules of professional ethics in the practice of accounting in general. D. CPAs provide management services to go around the ethical constraints as mandated by the Accountancy Act. 42. (INFORMATION SYSTEMS) The basic principles of accounting information system include all the following, except A. flexible structure. B. cost awareness. C. implementation. D. useful output. 43. (INFORMATION SYSTEMS) Which of the following statements is false? A. Management accounting is an integral part of the controller’s function in an organization. B. The Standard of Ethical Conduct for Management Accountants include concepts related to competence, confidentiality, integrity, and objectivity. C. Modern cost accounting plays a role in planning new products, evaluating operational procedures, and controlling costs. D. The COO (Chief Operating Officer) is primarily responsible for management accounting and financial accounting. 44. (INFORMATION SYSTEMS) Management accounting is considered successful when it A. helps managers improve their decisions B. is in accordance with GAAP C. is relevant D. is accurate
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MANAGEMENT ADVISORY SERVICES - THEORIES Page 9 45. (INFORMATION SYSTEMS) Which of the following descriptions refers to management accounting information? A. It is prepared for shareholders B. It is reliable and verifiable C. It is prepared in accordance with GAAP D. It provides reasonable and timely estimates 46. (INFORMATION SYSTEMS) Which of the following is a not a characteristic of management accounting? A. Internal focus B. Broad-based and multidisciplinary C. Subjective information may be used D. Historical orientation 47. (DECISION MAKING) A major accounting contribution to the managerial decision-making process in evaluating possible courses of action is to A. decide which actions the management should consider. B. determine the amount of money that should be spent on a project. C. assign responsibility for the decision. D. provide relevant revenue and cost data about each course of action. 48. (ECONOMICS) Gross domestic product (GDP) is the A. total amount of expenditures for consumer goods and investment for a period of time. B. total purchases by consumers, businesses, government, and foreign entities C. value of all final goods and services produced by the country by both domestic and foreign-owned sources. D. value of all goods and services produced by the country by domestic firms, excluding those produced by foreign-owned companies. 49. (ECONOMICS) As the economy becomes more and more depressed, a company's management decides to slash spending on research and development. What is the likely effect of this action on net income? Net income will be A. higher this period and lower in future periods.
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