Answer me 20 questions

1. The information collected for budgeting purposes need not satisfy the qualitative characteristics of relevance and reliability (or faithful representation), since budgetary information would not typically be made publicly available.

Group of answer choices

True

False

2. There is an expectation that accountants particularly those that contribute relatively more value to an organisation should have certain core skills that allow them to think in an organised, knowledgeable way, as well as communicate their ideas clearly, which in itself requires solid interpersonal skills.

Group of answer choices

True

False

3. Which of the following options provides the most accurate description of "controlling" within the context of internal accounting?

Group of answer choices

Controlling is the process of setting objectives, formulating strategies, and developing plans for achieving them.

Controlling is the implementation of measures that ensure that the organization's operations are carried out in accordance with the set plans and objectives.

Controlling involves the continuous review and evaluation of the organization's operations without necessarily implementing corrective measures.

Controlling is the process of making all operational decisions within an organization without considering any financial or performance data.

4. The managers role includes which of the following?

Group of answer choices

Plan and implement action

Monitor and evaluate

Learn, revise and adjust

All of these choices

5. Management accounting broadly refers to the information produced by accountants to assist decision making by internal managers. Which of these is an internal decision?

Group of answer choices

An employee deciding whether to ask for a raise.

A manager deciding whether to increase production.

A supplier deciding whether to extend credit.

A bank deciding whether to call in a loan.

6. Control refers to the procedures and measures put in place to ensure that the organization's activities are proceeding according to plan. Which of the following options is a component of control?

Group of answer choices

Identifying objectives.

Searching for alternative courses of action.

Gathering information/data about alternatives.

Responding to divergences from plan.

7. Planning is central to managing an organisation and includes five individual components. Which of the following is not a component of planning?

Group of answer choices

Identifying the problem

Collecting the relevant information

Determining alternative courses of action

Implementing the chosen course of action

8. Although internal accounting is not mandated, which of the following factors must be considered when collecting, analyzing, and reporting accounting data.

Group of answer choices

Justification for collecting, analyzing, and reporting the data is required

The benefits of data collection, analysis, and reporting should outweigh the drawbacks.

The data collected, analyzed, and reported must provide value to the organization.

All of these choices

9. Internal accounting information could be produced to cover various time periods.

Group of answer choices

True

False

10. In relation to management accounting, which of the following statements is true?

Group of answer choices

Management accounting is subject to limited regulation compared to financial accounting.

All of these choices.

The forms of management accounting employed within an organisation will be influenced by the organisation's mission statement.

Some management accounting information generated within an organisation will not be disclosed publicly because of concerns that it might reduce an organisation's competitive advantage.

11. The information collected, analyzed, and reported depends partly on managers' beliefs regarding financial and non-financial performance aspects of the organisation. Which one of the following factors influences managers' beliefs in this regard?

Group of answer choices

The responsibilities and associated accountabilities being embraced by the managers.

All of these choices.

Whether the organisation is operating as a for-profit or not-for-profit organisation.

The type of products or services being offered by the organisation.

12. If a manager is considering shifting the manufacture of their products to a different country, what would be some of the implications to consider?

Group of answer choices

What will be the differences in resource consumption?

What will be the difference in social impacts?

What are the implications for transportation-related costs and impacts?

All of these choices

13. The factors to consider when forecasting sales depend on the industry and nature of the organisation, but they should include which of the followinginternal factors?

Group of answer choices

Planned advertising and promotional activities

Expected activities of competitors

Changing tastes and expectations of customers

All of these choices

14. The internal accounting system typically becomes more sophisticated as the organization's size or the number of products or services it offers increases.

Group of answer choices

True

False

15. Which of the following decisions is NOT an internal decision?

Group of answer choices

Whether or not to offer a discount to larger purchasers.

Whether to pay a creditor within the discount period.

How much dividend to pay to shareholders

How much GST to pay to the IRD.

16. One of the following options reflect the recognition that strategies often emerge and become apparent through consistent actions and behaviors within an organization, rather than being explicitly planned or articulated.

Group of answer choices

Strategy as plan.

Strategy as pattern.

Strategy as position.

Strategy as perspective.

17. Which of the following factors might bias a manager towards focussing on short-term performance?

Group of answer choices

A bonus plan based on six-monthly or yearly profit

A long-term employment contract

A bonus plan based on share-price movements over a four-year period

All of these choices

18. Which of the following statements defines strategy as a position?

Group of answer choices

A consciously intended course of action with diagnostic control systems.

An emergent series of actions with interactive control systems.

A perspective rooted in core values and belief systems.

Involves the identification of risks and the establishment of boundary systems.

19. Qualitative aspects of performance, such as product quality, product safety, customer satisfaction, employee health and safety, employee satisfaction, and reputation within the community are not commonly incorporated within targets set by organisations.

Group of answer choices

True

False

20. Which of the following statements is TRUE?

Group of answer choices

Management accounts are produced to help managers achieve an organisations mission and goals.

A variety of management accounts will be generated within an organisation some using financial measures, others not.

The focus of the management accounts will be influenced by what aspects of performance the managers prioritise in terms of achieving the organisations missions and goals.

All of these choices.