Accounting for managers test

Diff: 1 Terms: management accounting Objective: 1 AACSB: Reflective thinking 2 Management accounting information is primarily oriented to external stakeholders, such as investors, creditors, regulators, and tax authorities.

Financial and management accounting questions and answers

B groups alter their behavior when they know they are being studied. Read more about the abstract reasoning test in our free abstract reasoning test guide What do employers expect to find in the abstract reasoning test results of a manager applying for accounting? It also provides information to control operations; it measures and evaluates existing systems to identify problems. D the accounting department. Its purpose is to help managers plan, organize, control and make operating decisions by predicting future results and evaluating performance. D department manager. Diff: 2 Terms: management accounting Objective: 2 AACSB: Reflective thinking 4 The first modern industry to develop and use large quantities of financial statistics to assess and monitor organizational performance was: A steel companies. D Implement the chosen course of action. D location of annual holiday party. Objective 3 1 At the highest level strategic planning involves choosing a strategy that provides the best fit between the organization's environment and its internal resources in order to achieve the organization's objectives. B Measure and monitor ongoing performance and take short-term actions based on the measured performance. There has been a deregulation movement in North America and Europe during the s and s that changed the ground rules under which service companies operate. B the manager of operations.

D Managers. C started to develop innovations in costing and performance-measurement systems due to intense pressure from overseas competitors.

management accounting theory questions and answers

B the Cost Accounting Standards Board. In the Act step of the PDCA cycle, managers take actions to lower costs, change resource allocations, improve the quality, cycle time and flexibility of processes, modify the product mix, change customer relationships, and redesign and introduce new products.

Decide which is the next shape in the series. It also provides information to control operations; it measures and evaluates existing systems to identify problems.

D Both budgeted production for the year ofand the budgeted balance sheet. D competed by managing costs to provide the best service at the lowest price.

D product costing.

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Managerial Accounting