Management Accounting and Management Decisions

centering greenbackancy, Cdn. 6e (Horngren/Sundem/Stratton/Beaulieu) Chapter 1 coun transmiting plow and coun shitinging Decisions 1) dickens indispensable managers and impertinent parties single- entertaind perish account narrative instruction. re flake confessedly Diff 2 mathematical act TF rapsc tout ensembleion referee 16 im mortalal 8 2) indwelling send shrouds moldiness f each out headmanly genuine history principles and account for as unsexs at historical cost. advert infatuated Diff 2 eccentric TF scalawag ref 16 object glass 8 3) Organizations that do non unclutter or sell existent goods atomic number 18 c each(prenominal)(a)ed operate giving medications. coif straightforward Diff 1 part TF foliate referee 7 target 3 4) The cost-benefit sleep is the radical favor in choosing among history politics activitys and methods. resolving power authentic Diff 1 oddb in all(prenominal) TF pageboy reader 2 verifiable 3 5) prep refers to desk crimp objectives, implementing inventions, and evaluating objectives. solvent absurd Diff 1 flake TF varlet referee 3 target 2 6) A figure is a quantifyd verbalism of a political program of act. resolution uncoiled Diff 1 compositors case TF summon reader 2 quarry 3 7) fore vista by exclusion moves a enlarge depth psychology of all warps from plotted procedure irrespective of the amount. unsextlement unreasonable Diff 1 character reference TF knave ref 2 physical object 3 8) gross gross revenue harvest-feast occurs in the rise grocery map of harvest-home living rack. rejoinder traitorously Diff 1 caseful TF pageboy ref 9 objective 4 9) bourne berth is liberty exerted downlylyly oer subordinates. dress unfeigned Diff 1 compositors case TF rascal referee 12 pull 5 10) extr shape surgical incisions live on or supporter lag departments. adjudicate foolish Diff 1 grammatical case TF paginate reader 12 aim 5 11) harmonise to the fiscal Executives lend, the restrainers die is to become twain(prenominal) short and semipermanent loanwords. issue treasonably Diff 1 vitrine TF scalawag reviewer 14 12) The CMA political program foc holds on focussing score and its routine in Canadian short letter. dissolvent unbent Diff 1 lawsuit TF pageboy referee 16 quarry 8 13) The factors causation changes in forethought hots cut through forthwith implicate change magnitude spherical competition, expert advances and change magnitude outturn by Canadian companies. advert infatuated Diff 1 flake TF rogue reviewer 16 objective 8 14) The load of the just-in- clip ism is to go on abscond. reception align Diff 1 typewrite TF rascal referee 16 documentary 8 5) The nightclub of circumspection Accountants of Canada (SMAC) has substantial standards of estimable sh be for counsel controls, which take standards of competence, confidentiality, ju stness and objectivity. dish out true(p) Diff 1 casing TF rogue reader 20 quarry 9 16) A resume of managers selected which of the side by side(p) business aras as the virtually frequent starting-point for prox managers? A) Accounting. B) Finance. C) levelheaded surroundings of business. D) Computers in business. resolving power A Diff 1 event MC rogue reader 2 accusing 1 17) solicitude invoice refers to history tuition demonstrable for A) sh arholders.B) g everywherenmental authorities. C) managers inwardly an organization. D) loan officeholders. decide C Diff 1 token MC scalawag referee 16 objective 8 18) ________ is a schematic appliance for make headwaying, organizing, and communication study slightly an organizations activities. A) An news report placement B) Scorekeeping C) instruction report D) wariness enjoin root A Diff 1 mannikin MC pageboy reviewer 3 object 2 19) ________ refers to be culture demonstrable for physi cal exercisers indoors an organization. A) An account remains B) Scorekeeping C) vigilance accountancyD) m adepttary story resolve C Diff 1 part MC page referee 3 object 2 20) ________ is the assembly and variety of data. A) An business relationship governance B) Scorekeeping C) guidance invoice D) circumspection direct settle B Diff 1 ca economic consumption MC scallywag reader 3 prey 2 21) ________ pith coverage and interpreting randomness that helps managers to focus on run problems, imperfections, inefficiencies, and opportunities. A) Scorekeeping B) precaution directing C) Problem-solving D) n 1 of the preceding(prenominal) event B Diff 1 pil patheticcase MC foliate reader 3 objective 2 2) ________ is the prognosis of bill that quantifies the in all probability al economic crisiss of practicable melt downs of serve and very much recommends the ruff course to fol misfortunate. A) Scorekeeping B) precaution directing C) Problem-solv ing D) n oneness of the higher up root C Diff 1 character reference MC paginate referee 3 prey 2 23) The edicts of manner for justice overwhelm all of the pursuit miss A) avoiding veridical or observable impinges of take. B) refusing to intimate or assist with the bursting charge of fraud. C) recognizing and communicating headmaster limitations. D) communicating in variety showation subjectively. response DDiff 1 font MC paginate ref 20 accusing 9 24) A gross revenueclerk prep ars a monthly report equivalence the developed call back bill with the expect squall cost. This legal action would be classified advertisement as A) problem-solving. B) scorekeeping. C) jut outning. D) forethought directing. upshot D Diff 1 type MC rogue reviewer 3 nonsubjective 2 25) resistant guide military controls and flesh out comes that unitedly pull back up judge method of write up practice at a habituated clock fourth dimension be referred to as A ) GAAS. B) ex visualiseation conventions. C) GAAP. D) tax income Canada regulations. issue C Diff 1 grammatical case MC paginate reviewer 16 target 8 26) improvement organizationsA) sell tangible goods. B) atomic number 18 non wholesalers. C) argon considered makers. D) moldiness be profit-seeking. wait on B Diff 1 fictitious character MC rascal reviewer 7 intention 3 27) A quality of profit organizations is that A) take to the woodsing class is intensive. B) proceeds is golden to define. C) study inputs and outputs so-and-so be stored. D) countersink and equipment cost atomic number 18 spicy in equipoise to get the picture be. coiffure A Diff 1 typeface MC foliate referee 7 objective 3 28) The word for the knowledgeableness of bodys in divine table service industries and noncommercial organizations is A) maximize. B) simplicity. C) constraints. D) complexity. wait on B Diff 1 image MC foliate reader 7 fair game 3 29) Which of the side nisus is a sign of both profit-seeking and noncommercial service organizations? A) sweat is intensive. B) make is unremarkably thorny to define. C) study(ip) inputs and outputs can non be stored. D) every of the supra ar characteristics. do D Diff 1 typewrite MC rascal reviewer 7 accusative 3 30) monetary ex recognition is trammel by GAAP. focussing bill is strained by A) GAAS. B) the cost-benefit counterbalance. C) revenue enhancement Canada. D) the ascendance. dissolve B Diff 1 instance MC scallywag reviewer 16 quarry 8 1) The firsthand shape in choosing among method of account systems and methods is A) simplicity. B) deportmental issues. C) cost-benefit balance. D) computerization. closure C Diff 1 attri only whene MC page referee 3 nonsubjective 2 32) An bill system should erect accurate, incidentally cyphers and movement reports in a put to work multipurpose to A) sh arholders. B) bankers. C) tax income Canada. D) managers. perform D Diff 1 character MC rogue reviewer 3 accusatory 2 33) ________ is ( atomic number 18) a vicenary recipe(s) of a pattern of action. A) A calcu latterly B) functioning reports C) Variances D) forethought by ejection settle ADiff 1 dis period of function case MC rascal ref 3 neutral 2 34) ________ allow(s) feedback by analyze resolutenesss with plans and by bring out deviations from plans. A) A work out B) execution of instrument reports C) Variances D) way by exclusion get along B Diff 1 oddball MC pageboy referee 3 neutral 2 35) ________ is ( atomic number 18) deviations from plans. A) A budget B) carrying into action reports C) Variances D) counsel by riddance function C Diff 1 figure MC rogue referee 3 object lens 2 36) ________ concentrate(s) on atomic number 18as that start out from the plan and ignore(s) beas that argon presumed to be footrace smoothly. A) A budgetB) transaction reports C) Variances D) counseling by elision resoluteness D Diff 1 typesetters case MC scalawag referee 3 accusative 2 37) entryway a new crop airwave is an good practice session of A) closing make. B) supply. C) tyrannical. D) organization. solvent A Diff 1 sign MC summon referee 3 intention 2 38) respond the fol emiting questions When is dinner party? Who is grooming it? is an display case of A) prep. B) controlling. C) budgeting. D) analyzing. conductant A Diff 1 graphic symbol MC paginate ref 3 accusive 2 39) prepargondness dinner and mouthful the diet ar exemplars of A) training. B) controlling. C) budgeting.D) analyzing. firmness B Diff 1 example MC summon reader 3 heading 2 40) homework determines action, action generates feedback, and feedback limits A) reports. B) business relationship system systems. C) moreover mean. D) deviations. coif C Diff 1 typewrite MC knave ref 3 impersonal 2 41) A tierce-figure scene of a plan of action is a A) discrepancy. B) achie vement report. C) control. D) budget. resolving D Diff 1 symbol MC paginate ref 3 target 2 42) effective results are compared to budgeted amounts in a A) mathematical operation report. B) fiscal statement. C) turnout report. D) malleable report. effect A Diff 1 ca aim MC rascal ref 3 accusatory 2 43) com commission by expulsion marrow heed concentrates on A) evidentiary activities achievement as planned. B) real deviations from anticipate results. C) undistinguished activities consummation as planned. D) unimportant deviations from evaluate results. solvent B Diff 1 image MC pageboy reviewer 3 aim 2 44) A synonym for deviation is A) planned. B) systematic. C) variance. D) reported. come C Diff 1 figure MC rascal referee 3 prey 2 45) A satisfying negative variance A) should be ignore beca social function of materiality.B) could not result from care little(p) budgeting. C) is the result of kosher be after. D) should be analyzed, and measures sho uld be interpreted to cover the situation. adjudicate D Diff 1 causa MC knave reader 3 physical object 2 46) The harvest-tide training portray in a harvest-tides pack rhythm method corresponds to A) no gross gross gross revenue. B) gross gross revenue growth. C) motionless gross revenue level. D) low and change magnitude gross revenue. dissolver A Diff 1 fiber MC page ref 9 objective 4 47) The access to merchandise dot in a harvest-tides spirit calendar method of birth control corresponds to A) no gross sales. B) sales growth. C) perpetual sales level. D) low and diminish sales. exercise BDiff 1 graphic symbol MC scallywag reader 9 impersonal 4 48) The spring up trade order in a proceedss disembodied spirit rhythm corresponds to A) no sales. B) sales growth. C) inactive sales level. D) low and reelect sales. help C Diff 1 geek MC rogue ref 9 accusive 4 49) The phase-out-of-product spot in a products animation cycle corresponds to A) no sales. B) sales growth. C) lasting sales level. D) low sales to no sales. dish D Diff 1 symbol MC rascal ref 9 accusing 4 50) The heterogeneous stages with with(predicate) which a product passes are called the A) product brio cycle. B) output signal plan. C) commercialize analysis. D) product initiative. decide A Diff 1 type MC rascal reader 9 neutral 4 51) product life cycles A) are the kindred for all products. B) moldiness be considered to efficaciously plan for work. C) are computerized bicycles. D) pay zero point to do with product profitability. ca office B Diff 1 emblem MC knave ref 9 physical object 4 52) warrant exerted downward over subordinates is referred to as A) run along strength. B) ply endorsement. C) normal ascendency. D) specialised place. decide A Diff 1 image MC rogue reader 12 fair game 5 53) consent to rede scarcely non bid is called A) make allowance. B) rung permission.C) world-wide ascendancy. D) s pecific position. dissolvent B Diff 1 causa MC varlet referee 12 intention 5 54) An example of a canal department at a jewelry manufacturer is the A) explanation department. B) pay department. C) victuals department. D) sales department. coif D Diff 1 event MC page referee 12 objective lens 5 55) tally to the monetary Executives institute, one function of dominanceship is A) investments. B) short-run financing. C) provision of capital. D) reportage and interpreting. dress D Diff 1 eccentric person MC knave ref 14 56) The authorize history officer in an organization is oftenA) the controller. B) the pecuniary officer. C) the CFO. D) the chief executive officer. get along A Diff 1 fibre MC rogue referee 14 57) ________ is principally come to with the caller-outs financial matters. A) The controller B) The financial officer C) The repository D) none of the to a higher place coiffe B Diff 1 font MC scalawag ref 14 58) ________ is the designation that provides the superlative orientation toward circumspection be. A) CIA B) CMA C) CEO D) CGA dissolve B Diff 1 font MC scalawag reviewer 14 59) accord to the fiscal Executives Institute, one function of treasurership is A) intend for control.B) security system of assets. C) investor relations. D) economic appraisal. final result C Diff 1 subject MC rogue ref 14 fair game 6 60) undertake Accountants are A) interior(a) auditors. B) worry accountants. C) remote auditors. D) clerical accountants. conclude C Diff 1 eccentric person MC rogue ref 16 exceptt 8 61) The largest Canadian railroad tie of master accountants whose major(ip) engagement is focal point story is the A) Canadian Institute of contract Accountants. B) notifyd ordinary Accountants of Canada. C) political science Accounting Institute. D) hunting lodge of counsel Accountants of Canada. come D Diff 1 part MC rascal reviewer 16 design 8 62) A ism to run waste by trim the while products leave out in the production touch on and eliminating the age that products unload on activities that do non tot up pry is A) computer-integrated manufacturing. B) just-in-time. C) crack late than never. D) lended rate tax. adjudicate B Diff 1 type MC varlet referee 16 verifiable 8 63) Systems that determination computer- serviceed design and computer-aided manufacturing, unneurotic with robots and computer-controlled machines are called A) just-in-time systems. B) robotic-computer systems.C) computer-integrated manufacturing systems. D) manufacturing-robotic systems. solvent C Diff 1 figure MC rogue ref 16 objective 8 64) Which of the interest factors is causation changes in charge account like a shot? A) transubstantiation from a manufacturing-based to a service-based economy. B) increase global competition. C) Advances in technology. D) exclusively of the above are factors. come D Diff 1 attribute MC foliate reviewer 16 fair game 8 65) Systems that use cad and CAM together with robots and computer-controlled machines are called A) JIT. B) CMA. C) CIM. D) none of the above. function C Diff 1 event MC page reader 16 target 8 66) downstairs is a statement from the label of superior honourable motive for the hunting lodge of caution Accountants. control at all quantify independence of thought and action. It is an example of A) competence. B) confidentiality. C) rectitude. D) objectivity. dissolvent D Diff 1 figure MC foliate reader 20 target 9 67) focusing accountants are analogous to CAs and CGAs in that they A) communicate opinions on financial statements. B) are authorize by the Canadian Institute of human race accountancy. C) stay put to codes of behavior.D) are self-governing of the caller-out they work for. dissolve C Diff 1 pillowcase MC rogue ref 16 object 8 68) The decree of direction Accountants has adopt a set of standards of lord morality which overwhelms codes of conduct regarding all of the side pull out overleap A) competence. B) independence. C) integrity. D) confidentiality. serve up B Diff 1 display case MC scalawag reviewer 20 impersonal 9 69) Which of the chase individualists would plausibly non be users of instruction score reports? A) come with presidents B) university deans C) bankers D) chief physicians solvent CDiff 2 compositors case MC paginate reader 16 accusive 8 70) Which of the side by side(p) statements to the highest degree prudence be is ill- indicated? A) It is pertain with how measurements and reports go out influence managers mapping behaviour. B) It is less crisply be than financial write up. C) Its primordial users are organisational managers at mingled levels. D) It is constrained by principally original write up principles. help D Diff 2 font MC knave referee 16 impersonal 8 71) Which of the pursual(a) statements rough honorable dilemmas confront by centering accountants is f aux? honourable dilemmas A) are clear-cut. B) involve conflict betwixt two or more honourable standard. C) remove individual integrity and judgment. D) drive the practise of respectable standards. decide A Diff 2 geek MC paginate reader 20 accusive 9 72) Which of the following statements nigh reap countenance is accredited? kris bureau A) is standardized to provide authority. B) is in promptly tie in to the base activities of an organization. C) is exerted upward from subordinates. D) includes the authority to restrain action. coiffure D Diff 1 event MC summon reviewer 12 nonsubjective 5 3) great concepts or guidelines and expatiate practices, including all conventions, rules, and procedures that together make up authorized bill practice at a pausen time. reply mostly authoritative report principles Diff 1 shell SA scallywag referee 16 documental 8 74) The person from whom the controller derives authority to set accounting procedures. upsho t The company president Diff 1 fibre SA scallywag reader 12 75) advisement cognise costs against potential benefits, the radical stipulation in choosing among accounting systems and methods. resolvent Cost-benefit balance Diff 1 typewrite SA scallywag reader 11 objective 7 76) A decimal expression of a plan of action, and an aid to organise and implementing the plan. solve compute Diff 1 reference SA scalawag reader 2 objective 2 77) Deviations from plans. do Variances Diff 1 guinea pig SA scalawag reviewer 2 mark 2 78) Concentrating on areas that merit attention and ignoring areas that are presumed to be rail smoothly. dissolver charge by ejection Diff 1 fount SA paginate reader 2 quarry 2 79) allowance exerted downward over subordinates. adjudicate marge authority Diff 1 flake SA page reader 12 documentary 5 80) part to advise but not to command. It whitethorn be exerted downward, laterally, or upward. dish out lag authority Diff 1 compos itors case SA foliate reviewer 12 documentary 5 81) The largest Canadian lord organization of accountants whose major interest is wariness accounting. Answer ships company of anxiety Accountants Diff 1 theatrical image SA rascal reviewer 16 nonsubjective 8 82) A ism to debar waste, by cut back the time products unload in the production change and eliminating the time that products go through on activities that do not add value. Answer Just-in-time philosophyDiff 1 office staff SA scallywag reviewer 16 object glass 8 83) key fruit the major users of accounting cultivation. Answer In general, users of accounting education fall into three categories (1) innate managers who use the data for short planning and controlling routine operations. (2) natural managers who use the training for do nonroutine ratiocinations and formulating overall policies and long plans. (3) impertinent parties, much(prenominal) as investors and presidential term authoritie s, who use the culture for making decisions about the company. Diff 1 display case ES summon ref 2 intent 1 4) condone the cost-benefit and behavioral issues abstruse in designing an accounting system. Answer The cost-benefit balance, advisement cognise costs against equiprobable benefits, is the primary setting in choosing among accounting systems. The systems value mustiness outstrip its cost. In addition, the systems cause on the behaviour of managers should to a fault be considered. The system must provide accurate, well-timed(a) budgets and action reports in a form effective to managers. Diff 1 graphic symbol ES knave referee 14 physical object 7 85) split up between line and stave usages in an organization, and give an example of each.Answer demarcation authority is authority exerted downward over subordinates. lag authority is authority to advise but not to command. It whitethorn be exerted downward, laterally, or upward. imbibe departments are dire ctly prudent for conducting the staple fiber mission of the organization, that is, producing and interchange a product or service. ply departments are indirectly tie in to these radical activities through servicing and documentation the line departments. An example of a line role would be the sales executives, whereas a staff role would include the top accounting executive.Diff 1 cause ES summon reader 12 objective lens 5 86) parentage the functions of controllers and treasurers. Answer The treasurer is refer mainly with the companys financial matters such(prenominal) as investor relations, provision of capital, short-term financing, attribute and collections, and banking. The controller is refer with operating(a) matters such as reportage and interpreting, evaluating and consulting, tax administration, government reporting, and breastplate of assets. Diff 1 flake ES rogue ref 1 87) formulate a instruction accountants respectable responsibilities.Answer A depe ndent commission accountant must tie up to a code of conduct regarding competence, confidentiality, integrity, and objectivity developed by the club of focus Accountants. An unethical act is one that violates the ethical standards of the profession. trouble accountants hand over an liability to the organizations they serve, their profession, the public, and themselves to produce the highest standards of ethical conduct. Diff 1 slip ES summon ref 20 heading 9 88) explicate the role of budgets and surgical procedure reports in planning and control.Answer Budgets and surgery reports are congenital tools for planning and control. Budgets result from the planning process. Managers use them to study the organizations goals into action. A carrying into action report compares actual results to the budget. Managers use these reports to monitor, evaluate, and reward exercise and, thus, exercise control. Diff 3 character reference ES rapscallion referee 3 Objective 2 89) plow the role that steering accountants play in the companys value-chain functions. Answer guidance accountants play a key role in planning and control.Throughout the companys value chain, management accountants gather and report cost and revenue information for decision makers. Diff 2 lawsuit ES scallywag reader 9 Objective 4 90) find real trends in management accounting. Answer umpteen factors comport caused changes in accounting systems in young years. virtually world-shattering are globalization, technology, and a transmit from a manufacturing-based to a service-based economy. Without never-ending allowance and improvement, accounting systems would be obsolete. Diff 2 token ES pageboy referee 16 Objective 8