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| 1 | |
Which of the following is not one of the four key functions of management? |
| | A) | Preparation of financial statements. |
| | B) | Strategic management. |
| | C) | Management and operational control. |
| | D) | Performance measurement. |
| | E) | Planning and decision making. |
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| 2 | |
Cost management information: |
| | A) | consists of both financial and nonfinancial information used for a variety of purposes. |
| | B) | includes only financial information. |
| | C) | is not needed for strategic management. |
| | D) | is used only for management and operational control. |
| | E) | is used to prepare the organization's financial statements. |
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| 3 | |
Which of the following isn't one of the issues facing the contemporary business world? |
| | A) | The increase in global business environment. |
| | B) | The decrease in the privatization of firms. |
| | C) | The effects of the information technology and e-commerce. |
| | D) | A renewed focus on the customer. |
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| 4 | |
The process for creating competitive advantage in which a firm reorganizes its operating and management functions, often with the results that jobs are modified, combined, or eliminated, is known as what? |
| | A) | Total quality management. |
| | B) | Activity-based costing |
| | C) | Theory of constraints. |
| | D) | Reengineering. |
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| 5 | |
A process by which a firm identifies its critical success factors, studies the best practices of other firms for achieving these critical success factors, and then implements improvements in the firm's processes to match or beat the performance of these competitors is termed: |
| | A) | Continuous improvement. |
| | B) | Business process reengineering. |
| | C) | Strategic management. |
| | D) | Benchmarking. |
| | E) | Total quality management. |
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| 6 | |
Which of the following determines the desired cost for a product on the basis of a given competitive price so that the product will earn a desired profit? |
| | A) | Benchmarking |
| | B) | Target costing |
| | C) | Business process improvement |
| | D) | Life-cycle costing |
| | E) | Activity-based costing |
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| 7 | |
__________ uses activity analysis and activity-based costing to help managers improve the value of products and services, and to increase the organization's competitiveness. |
| | A) | TQM |
| | B) | Differentiation |
| | C) | Critical success factors |
| | D) | ABM |
| | E) | Target costing |
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| 8 | |
Which contemporary management technique involves using a variety of financial and non-financial performance measures to assess the overall performance of the firm? |
| | A) | The balanced scorecard. |
| | B) | Lean manufacturing |
| | C) | Business process improvement. |
| | D) | Life-cycle costing. |
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| 9 | |
__________ is a plan for using resources to achieve sustainable goals within a competitive environment. |
| | A) | Theory of constraints |
| | B) | Total quality management |
| | C) | Strategy |
| | D) | IMA |
| | E) | Critical success factors |
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| 10 | |
All of the following are private sector professional accounting organizations, except the: |
| | A) | Financial Accounting Standards Board (FASB). |
| | B) | Securities and Exchange Commission (SEC). |
| | C) | American Institute of Certified Public Accountants (AICPA). |
| | D) | Institute of Management Accountants (IMA). |
| | E) | Financial Executive Institute (FEI). |
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| 11 | |
Which professional accounting certification is considered to be the most relevant when regarding issues discussed in this class? |
| | A) | The Certified Management Accountant. |
| | B) | The Certified Financial Manager. |
| | C) | The Certified Public Accountant. |
| | D) | The Certified Financial Planner |
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| 12 | |
The following statement would be under which main section of the IMA Statement of Ethical Professional Practice?Perform professional duties in accordance with relevant laws, regulations, and technical standards. |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Credibility |
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| 13 | |
The following statement would be under which main section of the IMA Statement of Ethical Professional Practice? Communicate information fairly and objectively. |
| | A) | Competence |
| | B) | Confidentiality |
| | C) | Integrity |
| | D) | Credibility |
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| 14 | |
Sustainability refers to an organization's policies and procedures to achieve: |
| | A) | A sustainable competitive position |
| | B) | A balancing of the organization's goals to include profits, social and other goals. |
| | C) | An overall reduction in the environmental and competitive risks facing the organization |
| | D) | A sustainable environment within the firm for ethical behavior |
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