1. Which credential is associated with management accountants? A) CPA B) IMA C)
ID: 2341073 • Letter: 1
Question
1. Which credential is associated with management accountants?
A) CPA
B) IMA
C) CFP
D) CMA
2. ________ is the field that produces information used primarily by managers within an organization.
A) Financial accounting
B) External auditing
C) Internal auditing
D) Management accounting
3. How is accounting information prepared by management accountants used within an organization?
A) to help operating managers make decisions
B) to plan an organization's operations
C) to control an organization's operations
D) all of the above
4. An unfavorable variance occurs on a performance report when ________.
A) the actual revenue is less than the budgeted revenue
B) the actual cost is less than the budgeted cost
C) the actual revenue is greater than the budgeted revenue
D) the actual profit is greater than the budgeted profit
5. A favorable variance occurs on a performance report when ________.??????????
A) the actual cost is greater than the budgeted cost
B) the actual profit is greater than the budgeted profit
C) the actual revenue is less than the budgeted revenue
D) the actual profit is less than the budgeted profit
6. A budget ________.
A) provides feedback by comparing actual results with planned results
B) is a quantitative expression of a plan of action
C) includes deviations from planned results
D) ignores areas that are presumed to be running smoothly
7. Management-by-exception means that managers should ________.
A) concentrate on areas that deviate from the plan
B) in the absence of other evidence, presume that areas that conform with plans are running smoothly
C) A and B
D) none of the above
Explanation / Answer
1. Option D
Certified Management Accountancy (CMA) is the credential associated with the management accounting. They are professional in the fields of cost accounting and management issues.
2. Option D
Management accounting helps the managers perform their day at day activities efficiently and take better decisions. It's focussed on internal usage.
3. Option
Management accounting helps managers take better decisions, plan and control organization's activities effectively
4. Option A
Variance is considered when actual revenues is less than budgeted and when actual cost is higher than budgeted cost
As per chegg answering guidelines I answered your first 4 questions
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