The provision of accounting information for internal users is known as:
a.management accounting.
b.accounting.
c.financial accounting.
d.information provision.
e.accounting for planning and control.
The users of management accounting information include:
a.for-profit companies.
b.not-for-profit organizations.
c.city governments.
d.educational institutions.
e.all of these choices
Setting objectives and identifying methods to achieve those objectives is:
a. controlling.
b. decision making.
c. planning.
d. performance evaluation.
e. none of these choices.
The process of choosing among competing alternatives is called:
a. controlling.
b. decision making.
c. planning.
d. performance evaluation.
e. none of these choices.
Which of the following is a characteristic of management accounting?
a. Internal focus
b. Subjective information may be used
c. Emphasis on the future
d. Broad-based and multidisciplinary
e. All of these choices
Which of the following is a characteristic of financial accounting?
a. Internal focus
b. Subjective information may be used
c. Historical orientation
d. Broad-based and multidisciplinary
e. None of these choices
In terms of strategic positioning, which two general strategies may be chosen by a company?
a. Activity-based costing and value-chain emphasis
b. Revenue production and cost enhancement
c. Cost leadership and product differentiation
d. Increasing customer value and decreasing supplier orientation
e. Product differentiation and cost enhancement
Management accountants in an organization are typically:
a. line positions.
b. marketing positions.
c. staff positions.
d. production positions.
e. selling positions.
The chief accounting officer for a firm is the:
a. chief executive officer (CEO).
b. chief operating officer (COO).
c. vice president of sales.
d. production head.
e. controller.
Which of the following is typically found in a corporation's code of ethics?
a. Respect for others
b. Integrity
c. Honesty
d. Competence
e. All of these choices
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Decision Making
Operating Manager: This report indicates that we have 30 percent more defects than originally targeted. An investigation into the cause has revealed the problem. We were using a lower-quality material than expected, and the waste has been higher than norm
Controlling
Divisional Manager: Our market share has increased because of higher-quality products. Current projections indicate that we should sell 25 percent more units than last year. I want a projection of the effect this increase in sales will have on profits. I
Planning
Plant Manager: Foreign competitors are producing goods with lower costs and delivering them more rapidly than we can to customers in our markets. We need to decrease the cycle time and increase the efficiency of our manufacturing process. There are two pr
Controlling
Manager: At the last board meeting, we established an objective of earning a 25- percent return on sales. I need to know how many units of our product we need to sell to meet this objective. Once I have the estimated sales in units, we need to outline a p
Planning
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Decision Making
Ben Heald, head of production, wondered whether it would be more cost effective to buy parts already partially assembled or to buy individual parts and assemble them at the Arben factory
Management accounting oriented
The president of Arben reminded Jenna that the stockholders' meeting was coming up, and he needed her to prepare a PowerPoint presentation showing the income statement and balance sheet information for last year.
Financial accounting oriented
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Management accounting oriented
Jenna's assistant, Mike, received the information from Ellen on depreciation and added it to depreciation expenses and accumulated depreciation on office equipment.
Financial accounting oriented
Jenna compared the budgeted spending on materials used in production with the actual spending on materials used in production. Materials spending was significantly higher than expected. She set up a meeting to discuss this outcome with Ben Heald, head of
Management accounting oriented