9. Suppose your cell phone company offers a plan under which you pay $25 per month for unlimited minutes. This is an example of a

A. Fixed cost

B. Step cost

C. Mixed cost

D. Variable cost

8. The leading professional organization for management accountants is the

A. Institute of Management Accountant

B. National Association of Accountants

C. American Association of Management Accountants

D. American Institute of Certified Public Accountants

E. Society of Management Accountants

7. Which of the following characterizes managerial accounting as compared to financial accounting (mark all that apply)?

A. Internal focus

B. Lack of mandated rules

C. Emphasis on timelines

D. Guided by GAAP and the FASB

E. Emphasis on timeliness

F. Focus on operating segments

6. Which of the following accounts is not reported on the Balance Sheet? (Mark all that apply)

A. Raw Materials

B. Cost of Goods Sold

C. Finished Goods

D. Work in Process