Question 1

Management accountants help the management of an organization in their planning function through ____________________.

strategic planning

analyzing profits

evaluating costs

monitoring anti-theft systems

Question 2

During the control function, the measurements taken of the performance must be accurate enough to see ____________________________.

the primary focus

only the negative results

deviations and variations

only psoitive results

Question 3

Managerial accounting produces information:

that is often fucused on the future

that follows the rules of GAAP

to meet the needs of investors

to meet the needs of external users

Question 4

Internal users of accounting information wouldnotinclude ____________________________.

managers

employees

officers

creditors

Question 5

Which of the following statements isincorrect?

Reports produced using management accounting must follow GAAP.

Management accouting focuses mainly on the internal user.

The pracatice of management accounting is fairly flexible.

The information gathered from management accounting is not required by law.

Question 6

The controller of a corporation:

reports to the CFO and is in charge of the accounting side of the business

reports to the CEO and implements all cash policies

reports to the board of directors

reports to the CFO and is in charge of the finance side of the business

Question 7

The Certified Management Accountant (CMA) certification:

requires an associate's degree and four years of work experience

signifies someone specializing in tax accounting

includes a two-part exam, education requirements, and a work experience requirement

is offered to managers who take special courses in accounting