An organisation's ________ identifies the organisation's purpose objective, its output/market scope and the way it conducts its operations; the output/market scope includes customer groups served, customer functions and technologies used.

1. strategy
2. code of ethics
3. mission statement
4. structure

Which of the following is a 'mixed cost'?

1. Direct materials
2. Manager's salary
3. Monthly rent payment
4. Monthly telephone bill

For which of the following reasons explains why companies have recently been able to reduce inventory levels?

1. There is better sharing of information between suppliers and manufacturers
2. Just-in-time production strategies are being implemented
3. Production quotas are being implemented
4. Both A and B are correct.

Which of the following descriptors refers best to management accounting information?

1. It is verifiable and reliable.
2. It is prepared for shareholders.
3. It is driven by rules.
4. It provides reasonable and timely estimates.