Question : 61) A variance considered to be 61) ______ A) the : 1196049

 

 

61) A variance is considered to be  

61) ______

A) the difference allowed in the current production costs.

B) the difference between budgeted amounts and actual results.

C) the difference between current operating costs and last year’s operating costs.

D) the difference between the historical cost and the current cost.

E) the difference between the original budget and the final adjusted budget.

 

62) Which of the following is NOT a use of feedback, from a manager’s perspective?  

62) ______

A) to search for alternative ways of reaching goals

B) to predict future events

C) to change goals

D) to improve past performances

E) changes the reward system

 

63) Changes in the way managers run their departments often force them to re-evaluate the design and operation of the  

63) ______

A) management accounting system.

B) performance appraisal system.

C) current decision-making process.

D) security system.

E) financial accounting system.

 

64) Management accountants’ responsibilities concentrate on  

64) ______

A) comparing the financial advantages of alternatives.

B) financing the purchase of fixed assets.

C) external reporting.

D) scorekeeping, attention-directing or the problem-solving function.

E) internal auditing of multi-divisional units.

 

65) ________ is responsible for accumulating and reporting reliable results to all levels of management.  

65) ______

A) Attention directing

B) Management accounting

C) Scorekeeping

D) An accounting system

E) Problem solving

 

66) Which of the following lists a scorekeeping activity first, followed by an attention-directing activity, followed by a problem-solving activity?  

66) ______

A) recording sales, comparing the financial advantages of leasing a fleet of vehicles, and highlighting rapidly growing markets where the company may be under funding its investment

B) recording purchases from vendors, purchase returns and accounts payable.

C) recording sales, highlighting rapidly growing markets where the company may be under-funding its investment, and comparing the financial advantages of leasing a fleet of vehicles

D) recording sales to customers, customer returns, and accounts receivable

E) recording sales to customers, explaining ways to avoid cost overruns, and recording purchases from vendors

 

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

67) ______

A) Budgeting

B) Scorekeeping

C) Attention-directing

D) Planning

E) Problem-solving

 

68) ________ is the aspect of accounting that quantifies the likely results of possible courses of action and often recommends the best course to follow.  

68) ______

A) Record keeping

B) Attention-directing

C) Controlling

D) Scorekeeping

E) Problem-solving

 

69) Preparation of a monthly report comparing the actual phone bill with the expected phone costs would be classified as  

69) ______

A) scorekeeping.

B) controlling.

C) planning.

D) attention-directing.

E) problem-solving.

 

70) The method recommended for a management accountant in dealing with a resource-allocation decision is  

70) ______

A) total value chain analysis.

B) analysis based on feedback.

C) management by exception.

D) cost-benefit approach.

E) variance analysis approach.

 

 

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