MAS REVIEWER

1. It is the process of identifying, measuring, analyzing, interpreting, and communicating information in pursuit of an organization’s goals (Hilton, 2010).

• Financial Accounting
• Financial Management
• Management Accounting
• Management Consulting

Which of the following statements describe decision-making?

• It is involved in the all of the other three functions of management
• It entails choosing among alternatives available to management
• . Both a and b
• either a nor b

• I and II
• I, II and III
• II and III
• I, II, III and IV

It is the management function which pertains to the day-day activities in running the business.

• Planning
• Decision making
• Controlling
• Directing

The management function of controlling ensures that:

• The organization operates in the intended manner
• Achieves its goals
• Both a and b
• Neither a nor b

Statement I. Reports prepared by management accountants should cover at least a year. Statement II. Reports prepared by management accountants may cover for a day only.

• Only statement 1 is true
• Only Statement II is true
• Both statements are true
• Neither statements are true

Statement I. The reports of management accounting are based on historical data, estimates, projections and budgets. Statement II. The reports of financial accounting are almost entirely based on historical data.

• Only statement 1 is true
• Only Statement II is true
• Both statements are true
• Neither statements are true

The focus of financial accounting is

• Reporting on the organization as a whole
• Reporting on the geographical regions of the organization
• Reporting on the departments of the organization
• All of the above mentioned.

Controllers are ordinarily concerned with:

• Investor relations
• Credit extension and bad debts collection
• Short term financing
• Income tax return preparation

Which of the following is a staff position?

• Internal Auditor
• COO
• CEO
• None of the above