Acct 6003 Module 1| Ques ons and answers| Updated
RATED A+ 2026
All financial professionals, including managerial accountants, have an obliga on to themselves,
their colleagues, and their organiza ons to:
adhere to high standards of ethical conduct.
A company's leading execu ve is:
chief execu ve officer (CEO).
A controller is normally involved with:
preparing financial statements.
Data analy cs are par cularly important to the managerial accountant in what two areas?
Cost behavior and cost es ma on
Managerial accoun ng:
focuses primarily on the needs of personnel within the organiza on.
In order for a company to achieve a sustainable compe ve advantage, it must perform value
chain ac vi es:
at the same quality level as compe tors but at a lower cost, or it must perform at a higher
quality level than compe tors but at no greater cost.
Which of the following employees at Smooth Flights would not be considered as holding a line
posi on?
Chief financial officer (CFO)
Data science draws on what to transform large volumes of data into informa on?
Techniques from mathema cs, probability, sta s cs, and computer science
The cost of resources supplied but unused is known as:
the cost of unused capacity.
Which of the following managerial func ons involve a detailed financial and opera onal
descrip on of an cipated opera ons?
, Planning
Which of the following choices correctly iden fies ac vi es that would be included in a
manufacturer's value chain?
Research and Development, Marke ng, and Distribu on
Which of the following is correct regarding the changing role of managerial accoun ng?
Forward-looking goals have transformed managerial accountants into business advisors
Which of the following is not a func on of the treasurer?
Preparing financial statements
The day-to-day work of management teams will typically comprise all of the following ac vi es
except:
cost minimizing.
An organiza on's vast amount of data generated along with supplemental data that can provide
context for the internal data is known together as:
big data.
Which costs are the costs of ac vi es that can be eliminated with no deteriora on of product
quality, performance, or perceived value?
Non-value added
A restaurant's value chain includes:
supplier development, upstream contributors, downstream contributors, management of
inventory
Which of the following typically is responsible for raising capital and safeguarding the
organiza on's assets
Treasurer.
Employee empowerment involves encouraging and authorizing workers to take ini a ves to:
improve opera ons, reduce costs, improve product quality, improve customer service
Given the following informa on, what is the total cost of unused capacity? Cost of material
supplied is $3,200; Cost of material used is $3,000; Cost of material used per cake is $3; Cost of
material supplied per cake is $3.20.
RATED A+ 2026
All financial professionals, including managerial accountants, have an obliga on to themselves,
their colleagues, and their organiza ons to:
adhere to high standards of ethical conduct.
A company's leading execu ve is:
chief execu ve officer (CEO).
A controller is normally involved with:
preparing financial statements.
Data analy cs are par cularly important to the managerial accountant in what two areas?
Cost behavior and cost es ma on
Managerial accoun ng:
focuses primarily on the needs of personnel within the organiza on.
In order for a company to achieve a sustainable compe ve advantage, it must perform value
chain ac vi es:
at the same quality level as compe tors but at a lower cost, or it must perform at a higher
quality level than compe tors but at no greater cost.
Which of the following employees at Smooth Flights would not be considered as holding a line
posi on?
Chief financial officer (CFO)
Data science draws on what to transform large volumes of data into informa on?
Techniques from mathema cs, probability, sta s cs, and computer science
The cost of resources supplied but unused is known as:
the cost of unused capacity.
Which of the following managerial func ons involve a detailed financial and opera onal
descrip on of an cipated opera ons?
, Planning
Which of the following choices correctly iden fies ac vi es that would be included in a
manufacturer's value chain?
Research and Development, Marke ng, and Distribu on
Which of the following is correct regarding the changing role of managerial accoun ng?
Forward-looking goals have transformed managerial accountants into business advisors
Which of the following is not a func on of the treasurer?
Preparing financial statements
The day-to-day work of management teams will typically comprise all of the following ac vi es
except:
cost minimizing.
An organiza on's vast amount of data generated along with supplemental data that can provide
context for the internal data is known together as:
big data.
Which costs are the costs of ac vi es that can be eliminated with no deteriora on of product
quality, performance, or perceived value?
Non-value added
A restaurant's value chain includes:
supplier development, upstream contributors, downstream contributors, management of
inventory
Which of the following typically is responsible for raising capital and safeguarding the
organiza on's assets
Treasurer.
Employee empowerment involves encouraging and authorizing workers to take ini a ves to:
improve opera ons, reduce costs, improve product quality, improve customer service
Given the following informa on, what is the total cost of unused capacity? Cost of material
supplied is $3,200; Cost of material used is $3,000; Cost of material used per cake is $3; Cost of
material supplied per cake is $3.20.
