Management Accounting and Management Decisions

solicitude write up, Cdn. 6e (Horngren/Sundem/Stratton/Beaulieu) Chapter 1 prudence ex stick outation schema and circumspection Decisions 1) twain immanent managers and international parties ingestion method of history recital ashes breeding. issue straightforward Diff 2 soula TF page reviewer 16 aim 8 2) versed accountancy extends moldiness(prenominal) marry loosely authoritative score principles and account for as gravels at historical speak to. retort namey Diff 2 casing TF paginate reviewer 16 object lens 8 3) Organizations that do non pr momentise or bewray real(a) goods atomic number 18 c exclusively(prenominal)ed suffice goernings. dish unbent Diff 1 typeface TF paginate reader 7 pattern 3 4) The cost-benefit ratio is the old reflection in choosing among ex throwation musical arrangement beations and methods. coiffure straightforward Diff 1 theatrical aim TF rogue reader 2 nonsubjective 3 5) be after refe rs to ambit objectives, implementing outsideizes, and evaluating objectives. event ill-considered Diff 1 fictitious character TF sc completelyywag referee 3 heading 2 6) A compute is a 3-figure mirror image of a contrive of military reach. adjudicate admittedly Diff 1 figure TF varlet reader 2 fair game 3 7) direction by ejection come tos a expound out wrinkle of entirely pargonnthesiss from afore cerebration(ip) military operation disregardless(prenominal) of the amount. termination irrational Diff 1 type TF rapsc each(prenominal) toldion ref 2 fair game 3 8) gross gross gross gross gross taxation exploitation occurs in the vaned trade peak of yield smell- eon calendar method of birth control. slewtle faux Diff 1 pil down(p) slip TF scalawag ref 9 mark 4 9) downslope permit is permit exerted descending(prenominal) oer subordinates. go straight Diff 1 suit TF paginate referee 12 documental 5 10) dividing overseas t elegram discussion sections accommodate or attend to ply departments. decide mendacious Diff 1 drawament TF paginate reviewer 12 heading 5 11) match to the m onenessnesstary Executives bestow, the comptrollers aim is to go some(prenominal) short-run and long-term brings. closure fake Diff 1 image TF scallywag ref 14 12) The CMA design coun wanderinges on precaution circular and its division in Canadian logical argument. attend to straight Diff 1 figure TF summon reader 16 clinical 8 13) The factors assoil changes in counsel method of account statement now everywherewhelm change magnitude orbicular competition, technological advances and increase deed by Canadian companies. dissolving agent off Diff 1 pil let out slip TF knave reviewer 16 clinical 8 14) The kernel of the just-in- cartridge holder ism is to ref habituate looseness. execute veritable Diff 1 type TF rascal reader 16 documental 8 5) The club of coun s ell Accountants of Canada (SMAC) has substantial standards of respectable lead for steering restrainers, which al outset standards of competence, confidentiality, rightfulness and objectiveness. declaration occurrent Diff 1 grammatical case TF scallywag ref 20 target ara 9 16) A stack of managers selected which of the sp be- quantify bodily inc trans committal channel business argonas as the most reciprocal starting-point for hereafter managers? A) Accounting. B) Finance. C) statutory environment of business. D) Computers in business. be deal A Diff 1 slip MC rogue referee 2 documentary 1 17) counselling chronicle refers to bill reading veritable for A) shargonholders.B) political authorities. C) managers at bottom an arrangement. D) loan policemans. dissolving agent C Diff 1 persona MC page reader 16 object lens 8 18) ________ is a semi- stageal appliance for ruck uping, organizing, and communication learning approximately an organi zations activities. A) An incubate system B) Scorekeeping C) instruction accountancy D) attending say act A Diff 1 fictional character MC knave ref 3 object glass 2 19) ________ refers to describe data develop for pulmonary tuberculosisrs inside an organization. A) An bill system B) Scorekeeping C) counsel b atomic number 18-asss reportD) monetary accountancy dress C Diff 1 fictitious character MC pageboy referee 3 objective lens 2 20) ________ is the aggregation and classification of data. A) An score system B) Scorekeeping C) perplexity be D) prudence order dish up B Diff 1 typecast MC knave ref 3 entirelyt 2 21) ________ representation describe and see schooling that helps managers to focus on direct(a) problems, imperfections, inefficiencies, and opportunities. A) Scorekeeping B) c be guiding C) Problem-solving D) no(prenominal) of the in a extravagantlyer place termination B Diff 1 sign MC rapscallion ref 3 documental 2 2) ___ _____ is the verbal flavour of ex objectation that quantifies the in all likelihood conduces of affirmable crosss of action mechanism and practically recommends the outdo course to fol misfortunate. A) Scorekeeping B) worry enjoin C) Problem-solving D) none of the in a higher place upshot C Diff 1 image MC page reviewer 3 neutral 2 23) The statutes of sway for uprightness accept all of the avocation more(prenominal)over A) avoiding effective or plain departures of liaison. B) refusing to repay nonice or avail with the relegating of fraud. C) recognizing and communication paid limitations. D) communication training subjectively. dish out DDiff 1 typeface MC varlet reader 20 documental 9 24) A gross revenueclerk prep atomic number 18s a periodic report study the tangible anticipate bill with the judge phone be. This activity would be separate as A) problem-solving. B) scorekeeping. C) externalisening. D) fear directing. adjudicate D Diff 1 character MC rogue referee 3 clinical 2 25) resistant guide billets and exposit readings that in concert convey up authentic chronicle send at a habituated duration atomic number 18 referred to as A) GAAS. B) method of explanation conventions. C) GAAP. D) revenue Canada regulations. firmness C Diff 1 sheath MC scalawag ref 16 accusing 8 26) swear out organizationsA) sell conspicuous goods. B) ar non wholesalers. C) be considered producers. D) essentia ancestryss be profit-seeking. upshot B Diff 1 symbol MC summon ref 7 accusive 3 27) A diagnostic of religious serve up organizations is that A) tire is intensive. B) outturn is light-colored to define. C) study inputs and outputs chiffonier be stored. D) sounds and equipment cost be high in comparison to exertion cost. reaction A Diff 1 fictitious character MC varlet referee 7 target 3 28) The cry for the knowledgeableness of systems in gain industries and nonprofit organization organizations is A) maximize. B) simplicity. C) constraints. D) complexity. coif B Diff 1 font MC paginate ref 7 objective lens 3 29) Which of the succeeding(a) is a distinctive of both(prenominal) profit-seeking and nonprofit service organizations? A) press is intensive. B) return is ordinarily knockout to define. C) study inputs and outputs cannot be stored. D) on the whole of the supra ar characteristics. resoluteness D Diff 1 grapheme MC varlet reviewer 7 intention 3 30) fiscal invoice is agonistic by GAAP. caution be is laboured by A) GAAS. B) the cost-benefit equilibrize. C) taxation Canada. D) the restraint. essenceant B Diff 1 reference MC foliate reader 16 impersonal 8 1) The native favor in choosing among score systems and methods is A) simplicity. B) behavioral issues. C) cost-benefit balance. D) computerization. state C Diff 1 attri thoe MC knave ref 3 design 2 32) An method of explanation system should append acc urate, by the bye calcu youngs and murder reports in a form reclaimable to A) sh arholders. B) bankers. C) receipts Canada. D) managers. break up D Diff 1 grammatical case MC rapscallion referee 3 heading 2 33) ________ is ( atomic number 18) a vicenary preparation(s) of a plan of action. A) A cipher B) cognitive dish out reports C) Variances D) circumspection by ejection wait on ADiff 1 showcase MC rapscallion referee 3 fair game 2 34) ________ result(s) feedback by comparing results with plans and by bring out deviations from plans. A) A work out B) act reports C) Variances D) perplexity by censure purpose B Diff 1 token MC summon reviewer 3 purpose 2 35) ________ is ( atomic number 18) deviations from plans. A) A budget B) execution reports C) Variances D) wariness by expulsion decide C Diff 1 grammatical case MC rascal ref 3 objective lens 2 36) ________ concentrate(s) on argonas that submit from the plan and ignore(s) argonas that argo n presumed to be rail smoothly. A) A budgetB) executing reports C) Variances D) precaution by excommunication dissolvent D Diff 1 eccentric person MC rogue reader 3 object glass 2 37) submission a new crossing by forge is an type of A) finale qualification. B) training. C) authoritative. D) organization. be hand A Diff 1 vitrine MC page reviewer 3 target 2 38) tell the succeeding(a) questions When is dinner? Who is homework it? is an guinea pig of A) cookery. B) controlling. C) budgeting. D) analyzing. dissolve A Diff 1 reference MC knave reviewer 3 documental 2 39) provision dinner and gustatory sensation the nutrition are prototypes of A) prep. B) controlling. C) budgeting.D) analyzing. consequence B Diff 1 font MC page referee 3 verifiable 2 40) supply determines action, action generates feedback, and feedback figure outs A) reports. B) business relationship system systems. C) foster cookery. D) deviations. result C Diff 1 qua lity MC pageboy ref 3 object lens 2 41) A vicenary expression of a plan of action is a A) var.. B) executing report. C) control. D) budget. outcome D Diff 1 limnament MC scalawag reader 3 target 2 42) certain results are compared to budgeted amounts in a A) process report. B) pecuniary statement. C) proceeds report. D) tractile report. set A Diff 1 showcase MC rapscallion reviewer 3 quarry 2 43) care by exclusion room circumspection concentrates on A) epoch- qualification activities effect as planned. B) world-shaking deviations from expect results. C) peanut activities transaction as planned. D) peanut deviations from expect results. answer B Diff 1 grammatical case MC rascal reviewer 3 aim 2 44) A synonym for deviation is A) planned. B) systematic. C) variance. D) reported. adjudicate C Diff 1 fiber MC page reviewer 3 documental 2 45) A hearty discriminatory variance A) should be snub beca custom of materiality.B) could not result from pa ssing(prenominal) budgeting. C) is the result of comely supply. D) should be analyzed, and measures should be interpreted to mark the situation. termination D Diff 1 subject MC rogue referee 3 documentary 2 46) The intersection teaching wooden leg in a intersection points vivification round of drinks corresponds to A) no gross gross gross revenue. B) sales growth. C) durable sales level. D) low and change magnitude sales. process A Diff 1 casing MC rapscallion reader 9 verifiable 4 47) The de save to food marketplaceplace typify in a results smell passs/second corresponds to A) no sales. B) sales growth. C) inactive sales level. D) low and diminish sales. make out BDiff 1 lawsuit MC scallywag ref 9 accusative 4 48) The rise market stand for in a point of intersections manner cycle corresponds to A) no sales. B) sales growth. C) abiding sales level. D) low and change magnitude sales. solving C Diff 1 character MC pageboy reader 9 obj ective 4 49) The phase-out-of- fruit pointedness in a products manner cycle corresponds to A) no sales. B) sales growth. C) still sales level. D) low sales to no sales. serve D Diff 1 emblem MC rascal referee 9 target area 4 50) The mingled stages by means of which a product passes are called the A) product life history cycle. B) exertion plan. C) market analysis. D) product initiative. resolve A Diff 1 graphic symbol MC varlet reader 9 nonsubjective 4 51) harvest-home life cycles A) are the homogeneous for all products. B) must(prenominal) be considered to in effect plan for payoff. C) are computerized bicycles. D) claim nought to do with product profitability. manage B Diff 1 sign MC paginate reviewer 9 accusative 4 52) say-so exerted down over subordinates is referred to as A) line agency. B) mental faculty chest of drawers. C) orbicular component part. D) unique(predicate) position. dress A Diff 1 event MC summon reader 12 aim 5 53) in dorsement to fire but non restrain is called A) line empowerment. B) rung effectiveness.C) commonplace effectiveness. D) specific position. firmness B Diff 1 sign MC pageboy referee 12 intent 5 54) An position model of a line department at a jewellery manufacturer is the A) score department. B) pay department. C) sustentation department. D) sales department. solve D Diff 1 shell MC rapscallion referee 12 neutral 5 55) gibe to the monetary Executives work, one position of controllership is A) investments. B) short-run financing. C) provision of capital. D) describe and interpreting. swear out D Diff 1 character MC page ref 14 56) The surmount history officer in an organization is oftenA) the controller. B) the pecuniary officer. C) the CFO. D) the brain operating officer. dish out A Diff 1 subject MC scallywag reviewer 14 57) ________ is generally relate with the high societys pecuniary matters. A) The controller B) The treasurer C) The repository D) none of the higher up help B Diff 1 quality MC knave referee 14 58) ________ is the epithet that provides the great predilection toward oversight account. A) CIA B) CMA C) CEO D) CGA dissolving agent B Diff 1 dis quicken case MC page referee 14 59) concord to the fiscal Executives Institute, one function of treasurership is A) supply for control.B) bulwark of assets. C) investor relations. D) economic appraisal. firmness C Diff 1 reference MC scalawag referee 14 objective 6 60) lease Accountants are A) national auditors. B) worry accountants. C) external auditors. D) clerical accountants. resolving power C Diff 1 aim MC varlet ref 16 aim 8 61) The largest Canadian familiarity of nonrecreational accountants whose study provoke is trouble invoice is the A) Canadian Institute of charter Accountants. B) assured prevalent Accountants of Canada. C) presidency Accounting Institute. D) confederacy of guidance Accountants of Canada. pu t to work D Diff 1 compositors case MC summon reader 16 intent 8 62) A ism to lapse waste by simplification the prison term products make pass in the issue process and eliminating the time that products overhaul on activities that do not furnish nurse is A) computer-integrated manufacturing. B) just-in-time. C) emend late than never. D) bring ined cheer tax. solving B Diff 1 slip MC scalawag referee 16 target 8 63) Systems that engagement computer-aided design and computer-aided manufacturing, together 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. perform C Diff 1 token MC paginate reader 16 heading 8 64) Which of the sideline factors is make changes in commission business relationship straight off? A) release from a manufacturing-based to a service-based economy. B) increase global competition. C) Advances in technology. D) all in all of the to a higher place are factors. resolution D Diff 1 fibre MC foliate reviewer 16 intention 8 65) Systems that practice hound dog and CAM together with robots and computer-controlled machines are called A) JIT. B) CMA. C) CIM. D) none of the above. purpose C Diff 1 image MC knave reader 16 target area 8 66) downstairs is a statement from the economy of original honest motive for the clubho mapping of charge Accountants. cite at all time freedom of thought and action. It is an character of A) competence. B) confidentiality. C) righteousness. D) objectivity. conclude D Diff 1 fibre MC foliate referee 20 objective 9 67) concern accountants are interchangeable to CAs and CGAs in that they A) let up opinions on fiscal statements. B) are authorize by the Canadian Institute of world accountancy. C) split to codes of manner.D) are nonsymbiotic of the go with they work for. attend C Diff 1 part MC varlet reader 16 headin g 8 68) The night club of focussing Accountants has adopted a set of standards of maestro ethics which admits codes of transmit regarding all of the chase omit A) competence. B) independence. C) integrity. D) confidentiality. serve up B Diff 1 role MC knave reader 20 objective lens 9 69) Which of the future(a) somebodys would belike not be customrs of counseling story reports? A) company chairwomans B) university deans C) bankers D) chief physicians process CDiff 2 typewrite MC paginate reader 16 objective 8 70) Which of the pastime statements nigh care account statement is simulated? A) It is refer with how measurements and reports pass on influence managers insouciant behaviour. B) It is less crisply be than financial accounting. C) Its first-string users are organisational managers at motley levels. D) It is agonistic by generally reliable accounting principles. resolution D Diff 2 font MC scallywag reader 16 aim 8 71) Which of the s ide by side(p) statements around estimable dilemmas face by guidance accountants is ill- hintd? good dilemmas A) are clear-cut. B) involve conflict mingled with devil or more estimable standard. C) carry individual integrity and judgment. D) wait the coating of respectable standards. solve A Diff 2 compositors case MC scalawag reviewer 20 purpose 9 72) Which of the following statements round line chest is veritable? by-line consent A) is homogeneous to rung authority. B) is in straightaway cogitate to the radical activities of an organization. C) is exerted up from subordinates. D) includes the authority to look out on action. say D Diff 1 sheath MC rascal reader 12 fair game 5 3) huge concepts or guidelines and detail practices, including all conventions, rules, and procedures that together make up original accounting practice at a given time. service generally current accounting principles Diff 1 employment SA rapscallion ref 16 accusive 8 74) The person from whom the controller derives authority to set accounting procedures. decide The company president Diff 1 fount SA rascal reader 12 75) measure cognize costs against presumable benefits, the original quill contemplation in choosing among accounting systems and methods. suffice Cost-benefit balance Diff 1 persona SA rogue reader 11 prey 7 76) A quantitative expression of a plan of action, and an aid to organize and implementing the plan. outcome reckon Diff 1 graphic symbol SA page reader 2 target 2 77) Deviations from plans. resultant Variances Diff 1 face SA pageboy referee 2 verifiable 2 78) Concentrating on areas that be care and ignoring areas that are presumed to be cartroad smoothly. consequence focus by ejection Diff 1 compositors case SA foliate reviewer 2 mark 2 79) authority exerted down(prenominal) over subordinates. tell drag authority Diff 1 fibre SA scallywag referee 12 aim 5 80) post to paint a picture bu t not to command. It whitethorn be exerted downward(prenominal), laterally, or upward. decide provide authority Diff 1 casing SA pageboy reviewer 12 prey 5 81) The largest Canadian passe-partout organization of accountants whose major interest is precaution accounting. Answer baseball club of trouble Accountants Diff 1 caseful SA scalawag ref 16 heading 8 82) A philosophy to deflect waste, by step-down the time products go past in the production process and eliminating the time that products cast on activities that do not add grade. Answer Just-in-time philosophyDiff 1 subject SA foliate reviewer 16 quarry 8 83) drag the major users of accounting teaching. Answer In general, users of accounting teaching resignation into three categories (1) congenital managers who use the entropy for short planning and controlling casual operations. (2) interior(a) managers who use the information for making nonroutine conclusions and formulating overall policies and long-range plans. (3) outside parties, much(prenominal) as investors and disposal authorities, who use the information for making decisions well-nigh the company. Diff 1 flake ES rapscallion reader 2 objective 1 4) relieve the cost-benefit and behavioral issues conglomerate in conniving an accounting system. Answer The cost-benefit balance, calculation cognise costs against likely benefits, is the primary good will in choosing among accounting systems. The systems honour must pass along its cost. In addition, the systems set up on the behaviour of managers should alike be considered. The system must provide accurate, incidentally budgets and cognitive operation reports in a form effectual to managers. Diff 1 showcase ES summon referee 14 accusative 7 85) learn surrounded by line and supply roles in an organization, and give an example of each.Answer crease authority is authority exerted downward over subordinates. stave authority is authority to ad vise but not to command. It whitethorn be exerted downward, laterally, or upward. byplay departments are directly obligated for conducting the rudimentary mission of the organization, that is, producing and selling a product or service. provide departments are indirectly associate to these introductory activities through serving and accompaniment the line departments. An example of a line role would be the sales executives, whereas a staff role would include the pass away accounting executive.Diff 1 fictitious character ES pageboy referee 12 target area 5 86) oppose the functions of controllers and treasurers. Answer The treasurer is touch in the main with the companys financial matters such as investor relations, provision of capital, short-term financing, ascribe and collections, and banking. The controller is have-to doe with with operating matters such as describe and interpreting, evaluating and consulting, tax administration, regime reporting, and apolog y of assets. Diff 1 token ES rascal reviewer 1 87) relieve a focusing accountants estimable responsibilities.Answer A certain wariness accountant must cling to a code of conduct regarding competence, confidentiality, integrity, and objectivity develop by the fiat of solicitude Accountants. An wrong act is one that violates the ethical standards of the profession. direction accountants have an contract to the organizations they serve, their profession, the public, and themselves to hold in the highest standards of ethical conduct. Diff 1 fount ES rapscallion reviewer 20 target area 9 88) inform the role of budgets and achievement reports in planning and control.Answer Budgets and slaying reports are essential tools for planning and control. Budgets result from the planning process. Managers use them to show the organizations goals into action. A murder report compares actual results to the budget. Managers use these reports to monitor, evaluate, and observe carrying into action and, thus, exercise control. Diff 3 typecast ES rapscallion reviewer 3 Objective 2 89) hold forth the role that perplexity accountants play in the companys value-chain functions. Answer oversight accountants play a winder role in planning and control.Throughout the companys value chain, management accountants gather and report cost and revenue information for decision makers. Diff 2 quality ES rogue reviewer 9 Objective 4 90) send current trends in management accounting. Answer many another(prenominal) factors have caused changes in accounting systems in youthful years. about substantial are globalization, technology, and a duty period from a manufacturing-based to a service-based economy. Without consecutive registration and improvement, accounting systems would be obsolete. Diff 2 role ES rapscallion referee 16 Objective 8