Question :
71) The primary criterion for choosing among alternative accounting systems : 1196050
71) The primary criterion for choosing among alternative accounting systems is
71) ______
A) reduction in the amount of time required to perform a particular job.
B) improving information flow.
C) achievement of organizational goals.
D) cost minimization.
E) how well they help achieve organizational goals in relation to the costs incurred for these systems.
72) The primary reason for implementing a new budgeting system for an organization is
72) ______
A) managers’ need for more information in making better purchasing decisions.
B) managers’ need for more information for variance analysis.
C) the historical costs will be recaptured.
D) the relative expected benefits of the new system exceed its costs.
E) the expected benefits exceed the costs of the old system.
73) An example of a Staff management function would be
73) ______
A) developing quality standards for production.
B) ensuring that environmental standards are met.
C) preparing operating cost estimates for proposed new equipment.
D) being responsible for attaining a set level of plant income.
E) determining that new equipment is required.
74) The person(s) directly responsible for the attainment of organizational objectives is/are
74) ______
A) the internal auditor.
B) line management.
C) staff management.
D) both staff and line management.
E) the chief financial officer.
75) As teamwork has become more prominent in the last few years, the traditional distinctions between staff and line management
75) ______
A) has become more important relative to promotions.
B) has increased.
C) has diminished.
D) has become less clear cut in the employee reward system.
E) has only been evident in the employee reward system.
76) The ________ is also called the chief financial officer.
76) ______
A) finance director
B) controller
C) internal auditor
D) chief executive
E) treasurer
77) Which of the following is the financial executive primarily responsible for both management and financial accounting?
77) ______
A) chief financial officer
B) treasurer
C) external auditor
D) controller
E) internal auditor
78) Which of the following individuals focuses on reporting and interpreting relevant financial information used to manage the company?
78) ______
A) controller
B) line management
C) accounting manager
D) chief financial officer
E) treasurer
79) What is the professional designation for management accountants?
79) ______
A) Certified Management Accountant
B) Certified General Accountant
C) Certified Financial Executive
D) Chartered Accountant
E) Chartered Management Accountant
80) Professional ethics for a Certified Management Accountant in Canada were established by
80) ______
A) the CIMA.
B) the SMAC.
C) the CGAC.
D) the FASB.
E) the CICA.
81) The Code of Professional Ethics for management accountants includes concepts related to
81) ______
A) the overriding requirement of loyalty to your employer/client.
B) responsibilities to disseminate accounting knowledge to the general public.
C) responsibility, fairness, confidentiality, and independence.
D) protecting the image of the association by never divulging apparently unethical conducts by another member.
E) clarity in reports.
82) Which of the following would likely NOT constitute a breach of ethics for a management accountant?
82) ______
A) to profit personally from confidential information obtained from your client / employer (eg sell shares based on confidential information that the share value will decline soon)
B) to omit pertinent information from a report because it is unfavourable to you
C) to consider disclosing confidential information (ie gained from a third party) in order to assist your employer / client
D) to report the un-ethical actions of another party, with the expectation that this will further your own career
E) to consider disclosing confidential information in order to further your own career
83) Ethical issues would include all of the following except
83) ______
A) manipulation of financial statement results in order to help your employer and save co-workers jobs.
B) not admitting past mistakes.
C) dealing with a supervisor’s instructions to carry out an un-ethical act.
D) being aggressive in arguing for increased compensation for yourself.
E) conflicts of interest.
