Line management includes

b. information-technology managers.

d. management-accounting managers.

The Institute of Management Accountants (IMA)

a. is a professional organization of management accountants.

b. issues standards for financial accounting.

c. issues standards for management accounting.

d. is a professional organization of financial accountants.

Katrina is a financial manager who has discovered that her company is violating environmental regulations. If her immediate superior is involved, her appropriate action is to

present the matter to the next higher managerial level.

confront her immediate superior.

do nothing since she has a duty of loyalty to the organization.

Responsibility of a CFO include all EXCEPT

providing financial reports to shareholders.

managing short-term and long-term financing.

If financial manager/management accountant discovers unethical conduct in his/her organization and fails to act, (s)he will be in violation of which ethical standard(s)?

d. All of the answers are correct.

a. "Actively or passively subvert the attainment of the organization's legitimate and ethical objectives."

b. "Communicate unfavorable as well as favorable information."

c. "Condone the commission of such acts by others within their organizations."

Ethical challenges for management accountants include

a. whether to accept gifts from suppliers, knowing it is an effort to indirectly influence decisions.

b. whether to report unfavorable department information that may result in unfavorable consequences for a friend.

c. whether to file a tax return this year.

The Standards of Ethical Conduct for management accountants include concepts related to

b. competence, confidentiality, integrity and objectivity.

a. competence, performance, integrity, and reporting.

c. experience, integrity, reporting, and objectivity.

d. none of the above as ethical issues do not affect management accountants.

If a financial manager/management accountant has a problem in identifying unethical behavior or resolving an ethical conflict, the first action (s)he should normally take is to

b. discuss the problem with his/her immediate superior.

a. consult the board of directors.

c. notify the appropriate law enforcement.

If an individual faces a conflict between the organization's stated and practiced values experts recommend that

delay action and work with respected leaders in the organization.

delay action and hope the problem goes away.

the individual resign immediately and call the media.

An organization develops a code of ethics because

c. it wishes to reduce ethical conflicts by avoiding ambiguity or misunderstandings.

b. the Chief Executive Officer demands it.

d. it wishes to punish those whose ethical standards are different from its own.

Which of the following is NOT a role of management accounting information in product and customer costing?

to provide feedback information about the quality, timeliness, and efficiency of tasks performed

to assess customer profitability for a particular segment

to assess the profitability of the organization's services by linking resources generated

to measure the cost of resources used to produce a service

Which of the following is NOT a role of management accounting information in operating control

to provide performance measures for decentralized organizational units

to provide feedback information about quality

to provide feedback information about the efficiency of tasks performed

to provide feedback information about timeliness

Which of the following is a basic feature of a managerial accounting

b. reports are current and future oriented

d. reports on the entire organization

of the following is NOT a basic feature of a managerial accounting system.

d. informs local decision and actions

Which of the is a basic feature of a managerial accounting system?

b. There are no regulations governing the reports.

a. The scope tends to be highly aggregate.

c. The reports are generally delayed and historical.

d. The audience tends to be stockholders, creditors and tax authorities.

Which of the following is NOT a function of a management accounting system?

b. product and customer costing

Which of the is a basic feature of a managerial accounting system?

b. There are no regulations governing the reports.

a. The scope tends to be highly aggregate.

c. The reports are generally delayed and historical.

d. The audience tends to be stockholders, creditors and tax authorities.

In which situation is a financial manager/management accountant permitted to communicate confidential information to individuals or authorities outside the firm?

b. Such communication is legally prescribed.

a. There is an ethical conflict and the board has refused to take action.

c. The financial manager/management accountant knowingly communicates the information indirectly through a subordinate.

d. An officer at the financial manager/management accountant's bank has requested information on a transaction that could influence the firm's stock price.

. Corporate social responsibility is

c. the duty to embrace service to the public interest.

a. effectively enforced through the controls envisioned by classical economics.

b. the obligation to shareholders to earn a profit.

d. the obligation to serve long-term, organizational interests.

A common argument against corporate involvement in socially responsible behavior is that

d. in a competitive market, such behavior incurs costs that place the company at a disadvantage.

a. it encourages government intrusion in decision making.

b. as a legal person, a corporation, is accountable for its conduct.

Integrity is an ethical requirement for all financial managers/management accountants. One aspect of integrity requires

b. avoidance of conflict of interest.

a. performance of professional duties in accordance with applicable laws.

c. refraining from improper use of inside information.

d. maintenance of an appropriate level of professional competence.

SCM CHAPTER 2

Authored by Christian Nabong

Other

University

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43 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____________ means reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities.

a. Scorekeeping

b. Attention directing

c. Problem solving

d. None of the above

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A financial manager/management accountant discovers a problem that could mislead users of the firm's financial data and has informed his/her immediate superior. (S)he should report the circumstances to the audit committee and/or the board of directors only if

a. the immediate superior, who reports to the chief executive officer, knows about the situation but refuses to correct it.

b. the immediate superior assures the financial manager/management accountant that the problem will be resolved.

c. the immediate superior reports the situation to his/her superior.

d. the immediate superior, the firm's chief executive officer, knows about the situation but refuses to correct it.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Management accounting is considered successful when it

a. helps creditors evaluate the company's performance.

b. helps managers improve their decisions.

c. is accurate.

d. is relevant and reported annually.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting and other reports that help managers monitor performance and focus on problems and/or opportunities that might otherwise go unnoticed

a. Feedback

b. Financial accounting

c. Performance report

d. Managerial accounting

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An activity that consumes resources or takes time out that does not add value for which customers are willing to pay

a. Non-value added activity

b. Value-added activity

c. Process reengineering

d. Total quality management

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The elements of an ethical control system include the following EXCEPT

a. a reward system for turning in those who violate the ethical code.

b. a statement of the organization's values and code of ethics.

c. an ongoing internal audit of the ethical control system.

d. a statement of the employee's ethical responsibilities.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A study of organization that are among the best in the world at performing a particular task

a. Business process

b. Benchmarking

c. Control

d. Feedback

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SCM CHAPTER 2

____________ means reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities.

A financial manager/management accountant discovers a problem that could mislead users of the firm's financial data and has informed his/her immediate superior. (S)he should report the circumstances to the audit committee and/or the board of directors only if

Management accounting is considered successful when it

Accounting and other reports that help managers monitor performance and focus on problems and/or opportunities that might otherwise go unnoticed

An activity that consumes resources or takes time out that does not add value for which customers are willing to pay

The elements of an ethical control system include the following EXCEPT

A study of organization that are among the best in the world at performing a particular task

Certified Management Accountants are required to adhere to the following ethical standards, EXCEPT

Staff management includes

Line management includes

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