1. a. C. a. Which of the following is not true about strategy? It involves matching its capabilities with the opportunities in the marketplace to accomplisi objective. b. It has a short-term focus. C. It can be implemented through price competition or product differentiation. d. It involves the use of strategic cost management. 2. The value chain a. involves external companies as well as internal activities. b. is the sequence of business functions in which customer usefulness is added to products o services. applies only to manufacturing companies. d. is not relevant in today's cost accounting environment. 3. The five-step decision process includes planning and control activities. is performed exclusively by management accountants. c. is not often used, as the costs exceed the benefits. must be performed following GAAP guidelines. 4. Which of the following is not one of the ethical responsibilities of a management accountant? Compliance b. Confidentiality Integrity d. Objectivity 5. What is the total fixed cost of the shipping department of EZ-Mail Clothing Co. if it has the following information for 2002? Salaries $800,000 75% of employees on guaranteed contracts Packaging $400,000 depending on size of item(s) shipped Postage $500,000 depending on weight of item(s) shipped Rent of warehouse space $250,000 annual lease a. $850,000 b. $900,000 $1,050,000 d. $1,950,000 rotovo a. C. C