MANAGEMENT ACCOUNTING: AN OVERVIEW Q&A
Module No. 1 (learning task no.1)
1. The main focus managerial accounting is:
a. Decision making
b. The preparation of financial statements
c. The preparation of budgets
d. Documenting cash flows
2. Which of the following functions is most directly related to
management by objective?
a. Reporting
b. Decision making
c. Control
d. Planning
3. The setting of objectives and the identification of methods to
achieve those objectives is called.
a. Planning
b. Controlling
c. Decision making
d. Performance evaluation
, 4. In the planning and control process, what is the proper sequence
of events?
a. Set goals, set objectives, develop plans, implement plans, evaluate
performance.
b. Establish a master budget, set standard costs, develop variance
analysis.
c. Develop engineered costs, develop pricing targets, calculate
contribution margins.
d. Identify variable costs, identify fixed costs, project the sales mix,
determine break-even.
5. The primary objective of management accounting is to provide:
a. Stockholders and potential investors with useful information for
decision making.
b. Banks and other creditors with information useful in making credit
decisions.
c. Management with information useful for planning and control of
operations.
d. Supervising government agencies with information about the
company’s management affairs.
6. Management accounting information
a. Uses historical cost as the basis for reports to managers who are
making
decisions about future courses of action.
Module No. 1 (learning task no.1)
1. The main focus managerial accounting is:
a. Decision making
b. The preparation of financial statements
c. The preparation of budgets
d. Documenting cash flows
2. Which of the following functions is most directly related to
management by objective?
a. Reporting
b. Decision making
c. Control
d. Planning
3. The setting of objectives and the identification of methods to
achieve those objectives is called.
a. Planning
b. Controlling
c. Decision making
d. Performance evaluation
, 4. In the planning and control process, what is the proper sequence
of events?
a. Set goals, set objectives, develop plans, implement plans, evaluate
performance.
b. Establish a master budget, set standard costs, develop variance
analysis.
c. Develop engineered costs, develop pricing targets, calculate
contribution margins.
d. Identify variable costs, identify fixed costs, project the sales mix,
determine break-even.
5. The primary objective of management accounting is to provide:
a. Stockholders and potential investors with useful information for
decision making.
b. Banks and other creditors with information useful in making credit
decisions.
c. Management with information useful for planning and control of
operations.
d. Supervising government agencies with information about the
company’s management affairs.
6. Management accounting information
a. Uses historical cost as the basis for reports to managers who are
making
decisions about future courses of action.
