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CH 01 TB

This document contains a chapter about management, controllers, and cost accounting. It includes multiple choice questions about organizational concepts like the functional-teamwork concept and line-staff concept. It also covers topics like budgeting, responsibility accounting, and the roles of various departments like the controller's department. Ethical standards for management accountants are discussed at the end.

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Mico Duñas Cruz
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273 views7 pages

CH 01 TB

This document contains a chapter about management, controllers, and cost accounting. It includes multiple choice questions about organizational concepts like the functional-teamwork concept and line-staff concept. It also covers topics like budgeting, responsibility accounting, and the roles of various departments like the controller's department. Ethical standards for management accountants are discussed at the end.

Uploaded by

Mico Duñas Cruz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Chapter1

MANAGEMENT,THECONTROLLER,
ANDCOSTACCOUNTING

MULTIPLE CHOICE

B
1.
An organizational concept that groups business functions around
resources, processes, and human interrelations is the:
A.
resources function
B.
functional-teamwork concept
C.
processes function
D.
line-staff concept
E.
matching concept
E
2.
The measurement of performance and the control of costs is
aided the most by:
A.
organizational charts
B.
continuous supervision
C.
preparation for the future
D.
planning
E.
budgets and standards
A
3.
All of the following are abbreviations for systems or processes
that represent changes in manufacturing technology, except:
A.
CMA
B.
JIT
C.
CIM
D.
CAD
E.
FMS
D
4.
The process of providing individuals with the authority to carry
out their assigned responsibilities is referred to as:
A.
control circuit
B.
objective setting
C.
accountability
D.
delegation
E.
line-staff organization

A
5.
The department that uses pertinent cost data to determine
products that are most profitable and sales policies is:
A.
Marketing
B.
Manufacturing
C.
Treasury
D.
Legal
E.
Cost

Management, the Controller, and Cost Accounting

B
6.
except:

Examples of nonroutine planning include all of the following,

A.
responses to the appearance of new competition
B.
estimating the collection of receivables during the next
month for the purpose of making investment/borrowing decisions
C.
responses to a proposed government regulation of the
industry
D.
responses to a significant change in consumer tastes
E.
none of the above
B
7.
The coordinated development of a company's organization with
the cost and budgetary system will lead to an approach to accounting and
reporting called:
A.
functional-teamwork system
B.
responsibility accounting
C.
line-staff organization
D.
controllable segmentation
E.
superior-subordinate relationship
E
8.
The organizational group that advises or performs technical
functions of an enterprise is the:
A.
line
B.
function
C.
team
D.
executive management
E.
staff
A
9.
The business function in the functional-teamwork concept of
management that deals with activities such as product design, research and
development, purchasing, manufacturing, advertising, marketing, and
billing is the:
A.
processes function
B.
executive function
C.
resources function
D.
staff
E.
human interrelations function
E
10. Pronouncements of the Cost Accounting Standards Board adhere
to the concept of:
A.
indirect costing
B.
common costing
C.
direct costing
D.
standard costing
E.
full costing
B

11.

The professional certification developed by the IMA indicating

professional competence in the management accounting field is the:


A.
CIA
B.
CMA
C.
CA
D.
CPA
E.
CPM

Chapter 1

Management, the Controller, and Cost Accounting

C
12. The plans that are sufficiently detailed to permit the preparation
of budgeted financial statements for the entity as of a future date are:
A.
strategic plans
B.
medium-range plans
C.
short-range plans
D.
long-range plans
E.
none of the above
B
13. All of the following are organizations in the private sector that
influence the development of cost accounting theory and practice except:
A.
FEI
B.
IRS
C.
AICPA
D.
FASB
E.
IMA
D
14. Budgeting plays an important role in influencing individual and
group behavior at all of the following stages of the management process,
except:
A.
setting goals
B.
motivating desired performance
C.
evaluating performance
D.
computing bonuses
E.
suggesting when corrective action should be taken
B
15. The functional-teamwork concept of management is structured
to emphasize all of the following except:
A.
human interrelations
B.
accountability
C.
resources
D.
processes
E.
none of the above
E
16.
except:

All of the following are examples of non-value-added activities


A.
B.
C.
D.
E.

retrieving
handling
expediting
reworking
assembling

D
17. The department that has the responsibility for the financial
administration of a company is:
A.
Tax
B.
Controller's
C.
Cost

Chapter 1

D.
E.

Treasury
Internal Audit

D
18. The collection, presentation, and analysis of cost data should
help management accomplish all of the following tasks except:
A.
control the physical quantities of inventory
B.
determine company costs and profits for an accounting
period
C.
choose from among two or more alternatives that will
increase revenues
D.
conform to FASB reporting requirements for pensions
E.
establish costing methods and procedures that permit cost
reductions

Management, the Controller, and Cost Accounting

D
19. In an attempt to resolve an ethical conflict in a publicly-held
corporation, if the accountant has unsuccessfully gone to the board of
directors, the next step is to:
A.
go to the company president
B.
go back to middle management to garner support
C.
report the problem to the SEC
D.
resign
E.
none of the above
C
20. An organizational concept recognizing that all positions or
functional divisions can be categorized into two groups is:
A.
functional-teamwork concept
B.
processes function
C.
line-staff concept
D.
matching concept
E.
resources function
A
21. In an attempt to resolve an ethical conflict when the immediate
superior is involved, an accountant should first:
A.
go to the next higher level of management
B.
report the problem to the SEC
C.
resign
D.
go to the company president
E.
none of the above
C
22. The StandardsofEthicalConductforManagementAccountants presents
fifteen responsibilities of the management accountant that encompass all of
the following categories except:
A.
competence
B.
confidentiality
C.
dependability
D.
integrity
E.
objectivity

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