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1. Which of the following does not represent a main focus of cost management
information?
2. Strategic management can be defined as the development of a sustainable:
3. Cost management has moved from a traditional role of product costing and operational
control to a broader strategic focus, which places an emphasis on:
4. All of the following are examples of total quality management practices except:
5. In a local factory, employees are rewarded for finding new and better ways of changing
the way they work. This company is motivating its employees to use what management
technique?
6. A company's management accountant is trying to improve the way costs are allocated
within the company. Currently, several corporate expenses are grouped together and labeled
"overhead." If the accountant wanted to use activity-based costing (ABC) to help solve the
problem, what should she do?
7. The difference between wholesalers and retailers is:
8. When managers produce value for the customer, their orientation consists of all the
following except:
9. A practical example of when the theory of constraints would not be an appropriate
management technique to use would be:
10. Target costing determines the desired cost for a product upon the basis of a given
competitive price such that the product will:
11. Which of the following is not a contemporary management technique used by the
management accountant to focus on process improvement?
12. The strategy map is a tool that is used:
13. Cost management information typically is the responsibility of the:
14. Which of the following aspects of a company would not be considered a critical success
factor, for a company that competes on differentiation?
15. Target costing:
16. If a firm decided to reevaluate and reorganize the way it did business, in hopes of
creating competitive advantage, by changing or decreasing jobs, the company would be using
which of the following management techniques?
17. A consulting firm is trying to increase the long-term strategic focus of its company
reports. Therefore, the firm has decided to use the balanced scorecard. What type of new
information, that the company currently does not use in its financial reports, should the company
now include?
18. In keeping with the current trend of increased strategic planning, how have management
accountants changed their use of life-cycle costing?
19. The Institute of Management Accountants' Statement of Ethical Professional Practice for
management accountants includes the elements of:
20. The five steps of strategic decision-making include all of the following except:
21. Which of the following is not considered part of the Institute of Management
Accountants' definition of management accounting?
22. Which of the following professional certificates is considered to be the most relevant for
dealing with cost management issues?
23. According to the IMA Statement of Ethical Professional Practice, what should a
management accountant do if a significant ethical situation can't be resolved?
24. Which of the following aspects of the contemporary business environment involves using
statistical methods such as regression or correlation analysis to predict consumer behavior, to
measure customer satisfaction, or to develop models for setting prices, among other uses?
25. Which of the following is not a major change in the business environment that has
affected the way many companies think about conducting business?
26. Which of the following is the primary user of management accounting information
regarding business units?
27. Management accounting information plays a critical role in all except which of the
following management functions?
28. Corporate management is required to identify and solve problems from a cross-functional
view. Instead of viewing a problem as related to a specific business function, management solves
these problems by combining skills from different functions simultaneously. This approach is
called:
29. JCH Company conducts business in the lumber and building products industry. Last
week, JCH purchased 50 railcars of lumber from a mill in Oregon and sold all 50 to a Home Depot
store in North Carolina. In this instance, JCH Company would most likely be classified as a:
30. RTP Corp. is developing a new computer processor to compete against Intel's successful
product line. RTP has already determined the market price and the required profit margin on each
processor sold in order to be successful. Which costing method will RTP most likely use to
reduce costs and obtain the desired results?
31. Non-financial measures of operations include all the following except:
32. Under the Sarbanes-Oxley Act of 2002, the Public Company Accounting Oversight Board
(PCAOB) established rules relating to which of the following areas?
33. With the enactment of the Sarbanes-Oxley Act of 2002, all public companies are now
required by the SEC to disclose whether or not the company has:
34. The national sales manager for your company has pulled you aside and asked you to
prepare a sales document (bill) for one of the company's largest clients before the end of the
fiscal year which ends this month. This sales document will include items that have not yet been
shipped and are not planned for shipment until after this fiscal year. What should you do in this
situation?
35. All of the following actions enhance the new focus on making management accounting
information more relevant in helping a firm achieve strategic goals, except:
36. The competitive strategy of cost leadership allows a firm to outperform competitors by
producing products or services:
37. The competitive strategy of differentiation requires that a product or service must be:
