Which phrase best describes the current role of the

Which phrase best describes the current role of the managerial accountant?
a. Managerial accountants prepare the financial statements for an organization.

b. Managerial accountants facilitate the decision-making process within organization.
c. Managerial accountants make the key decisions within an organization.
d. Managerial accountants are primarily information collectors.
e. Managerial Accountants are solely
Answer.B
An example of qualitative data is:
Product and service costing information is prepared for Manufacturing costs typically consist of
In comparison to the traditional manufacturing environment, overhead costs in a JIT
environment all the following are true except:
a. are more easily tracked to products.
b. are frequently direct in nature.

c. include rent, insurance and utilities.
d. most of the costs are likely to be indirect in nature.
e. labour need not be tracked to the product.
Answer.D
As production increases within the relevant range,
You are given the cost and volume information below:
Volume Cost1
1Unit $ 15
10 units 150
100 units 1500
What type of a cost is given?
Which of the following statements regarding graphs of fixed and variable costs is true?

e. Fixed and Variable costs are curvilinear form above zero on the “Y” axis
Answer.D
of the following statements regarding budgeting is true except
a. Budgeting helps managers determine the resources needed to meet their goals and
Objectives.
b. Budgeting is a key ingredient in good decision-making.
c. Budgeting is a bookkeeping task
d. The focus of budgeting is planning.
e. Budgeting is an executive responsibility.
Answer.C
The approach in which the company under-cost its one product and over-cost it’s at least
one product is classified as
The budgeted total cost in indirect cost pool is divided by budgeted total quantity of cost
allocation base to calculate
In activity based cost system, the activity, unit of work or task with differentiated purpose is
classified as

The costs of all the activities for individual products or services are classified as
A. purpose level costs
B. output-unit level costs
C. input-unit level costs
D. activity level costs
Answer.B
In the activity based costing implementation, the product's diverse demand is based on
The cost pool category which have the similar cause and effect relationship with each cost
driver used as allocation base is classified as

In the activity based costing method implementation, the indirect costs are allocated by using the The costing system in which individual activities are identified as the cost object is
considered as
A. manufactured costing
B. activity based costing
C. allocation costing
D .base costing
Answer.B
The type of costs that cannot be traced for individual products but help in supporting the
organization are classified as
In the activity based costing method implementation, the output unit level costs are classified
as