James, an accountant at Forta Company, is preparing a report showing the production shift data for the previous day$$s production. This report will be shared with the production manager, Julia. This is an example of the role of managerial accounting at work.

Question $1$ options:

True

False

Question $2(5$ points$)$

The index developed to help assess a company$$s sustainability efforts is the

Question $2$ options:

Dow Jones Sustainability Index

United Nations Sustainability and Human Development Index

SEC Sustainability Index

World Bank Index

Question $3(5$ points$)$

Johnson Lumber Mill produces various grades of cut boards from raw lumber. All of the following may be considered an initiative undertaken as a part of the company$$s CSR efforts except

Question $3$ options:

assessing its application of the latest tax reform laws to determine if the company can pursue new avenues of tax savings

investing in more fuel$-$efficient delivery vehicles when replacing worn$-$out trucks

recycling by$-$products and waste

reviewing joint process efforts of the operations to determine more eco$-$efficient ways to process cut boards

Question $4(5$ points$)$

Sometimes the phrase $$corporate social responsibility$$ is used interchangeably with the phrase

Question $4$ options:

corporate outreach

corporate efforts

sustainability efforts

sustainability outreach

Question $5(5$ points$)$

Managers can use CSR and sustainability information as important feedback to guide decision making in a variety of areas. Which of the following areas is least likely to be impacted by this feedback?

Question $5$ options:

strategic and operational areas

FASB compliance with U$.$S$.$ GAAP

cost control decisions

resource allocation decisions

Question $6(7$ points$)$

Match the following descriptions and examples with the four performance perspectives in the balanced scorecard $($a$$d$).$

Question $6$ options:

Focuses on operational efficiencies and issues like improving manufacturing performance

Focuses on traditional accounting measures of performance, such as net income and cash flow

Focuses on research and development initiatives and employee training, retention, and satisfaction efforts

Focuses on obtaining and retaining customers and customer base

$1.$

Financial

$2.$

Internal processes

$3.$

Learning and growth

$4.$

Customer

Question $7(7$ points$)$

Match the following descriptions and examples to these elements of the balanced scorecard $($a or b$).$

Question $7$ options:

Shows the expected relationships among performance metrics

Shows the expected cause$-$and$-$effect relationships among strategic objectives

$1.$

Measure maps

$2.$

Strategy maps

Question $8(3$ points$)$

Net income for the year was $$29,500.$ Accounts receivable increased $$2,500,$ and accounts payable increased $$5,400.$ There were no other changes in noncash current assets and liabilities. Under the indirect method, the cash flow from operations is $$32,400.$

Question $8$ options:

True

False

Question $9(5$ points$)$

Accounts receivable from sales transactions were $$51,000$ at the beginning of the year and $$64,000$ at the end of the year. Net income reported on the income statement for the year was $$105,000.$ Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is

Question $9$ options:

$$105,000$

$$118,000$

$$92,000$

$$169,000$

Question $10(5$ points$)$

On the statement of cash flows, a $$7,500$ gain on the sale of fixed assets would be

Question $10$ options:

added to net income in converting the net income reported on the income statement to cash flows from operating activities

deducted from net income in converting the net income reported on the income statement to cash flows from operating activities

added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends

deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends

Question $11(5$ points$)$

Norris Company declared cash dividends of $$60,000$ during the year. Cash dividends payable were $$20,000$ at the beginning of the year and $$25,000$ at the end of the year. The amount of cash Norris Co$.$ used for payment of dividends during the year was

Question $11$ options:

$$55,000$

$$80,000$

$$105,000$

$$65,000$

Question $12(5$ points$)$

Firefly Inc. sold land for $$225,000$ cash. The land had been purchased five years earlier for $$275,000.$ The loss on the sale was reported on the income statement. On the statement of cash flows, what amount should Firefly report as an investing activity from the sale of the land?

Question $12$ options:

$$225,000$

$$275,000$

$$50,000$

$$500,000$

Question $13(7$ points$)$

For each of the following activities that may take place during the accounting period, indicate the effect $($a$-$g$)$ on the statement of