Answer the multiple choices below.

48. How are organisational strategies related to core competencies? a. Competencies are the tactics managers use to take advantage of strategies b. Broad based organisational strategies are the same as the core competencies c. Strategies help managers exploit competencies d. Strategies and competencies are actually two ways of expressing the same idea LO 1 49. Organisational strategies are: A key influence on the structure of the organisational information system Secondary to operating plans Reconsidered quarterly Unrelated to long term goals a. b. c. d. LO1 50. Which of the following is an element of an operating plan? Developing an organisational mission Preparing financial statements Defining core values Outlining specific performance objectives a. b. c. d. LO 1 51. Types of decisions that managers make include all of the following except: a. Choosing which products to sell. b. Designing performance evaluation systems c.Setting tax rates d. Hiring employees LO 1 52. The term cost accounting is: The precursor to management accounting Commonly used to refer to financial accounting. Encompasses both financial and management reporting The same as budgeting a. b. c. d. LO 2 53. An example of cost accounting information that is used in financial accounting is: a. staff absentee rates b. quality assurance processes c. valuation of ending inventory d. machine break down hours LO 2 54. Which of the following is a type of intemal report produced by an organisation's information system? a. News release b. Analysis of potential acquisition c. Credit report d. Tax return LO 2 55. Which of the following is true: Internal reports present information for use within an organisation b. a. Internal reports present information predominantly for use outside an organisation c. Internal reports are always for one time use only d. Internal reports are also used for reporting to government LO 2 56. Which of the following is the best example of an internal report that might come from an organisation's information system? Environmental Protection Agency regulatory report Cash flow plan Income tax returns Credit rating agency report a. b. c. d. LO 2 57. Financial statements are: a. Internal reports produced from an organisation's information system b. Never used for internal decision making c. Only true when they are audited d. Necessary to meet external reporting requirements LO 2 58. Information gathered outside the organisation includes: Customer preferences Product design specifications Product mix plans Number of employees hired a. b. c. d. LO 2 59. The following are all stages found in a management accounting system except for a. Processing b. Output c. Outcome d. Input LO 2