Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
38. The competitive strategy of differentiation is implemented by a firm's targeted, careful
attention to a(n):
39. Which of the following most accurately describes what is included in cost management
information?
40. Many companies in the consumer products and electronics industries such as Walmart
and Texas Instruments compete using a strategy of:
41. A potential weakness of the cost leadership strategy is:
42. Which of the following is not a benefit of using a lean manufacturing system?
43. Of the following, which aspect of a contemporary management technique is a framework
and process that organizations use to manage the occurrence of possible events that could
negatively or positively affect the company's competitiveness and success?
44. Which of the following formulas best reflects target costing?
45. A large company has recently been experiencing larger than normal inventory levels.
Management would like to implement a theory of constraints system to help control the
company's inventories. Which of the following is not a benefit associated with the theory of
constraints?
46. The Dodd-Frank Act (2010) includes a variety of new regulations, including the creation
of:
47. Which of the following contemporary management techniques requires a balancing of
multiple goals?
48. The competitive strategy in which the firm succeeds by producing at the lowest cost in
the industry is termed:
49. The competitive strategy in which the firm succeeds by developing and maintaining a
unique value for the product, as perceived by the customer, is termed:
50. The following problems have occurred at your company: management seems to be
making decisions based on guesses and intuition, there's a lack of clarity concerning direction
and goals, and profitable opportunities are being missed. What is your company suffering from?
51. Due in part to increased global competitiveness and changes in management techniques
and processes, what has changed about the role of the management accountant?
52. In the current business environment, companies cannot survive without a long-term
strategy. What exactly should an effective strategy include?
53. Which of the following is considered to be an advantage of using both nonfinancial and
financial information in the balanced scorecard?
54. If a company is working on strategic positioning, what aspect of the firm is being
developed?
55. A firm that has traditionally succeeded on the basis of its innovative products and
excellent customer service has started to place greater emphasis on reducing waste and
providing its customers with the lowest priced product. Which of the following most accurately
describes this change of competitive strategy?
56. Which of following statements is/are true concerning strategic positioning?
57. A strategy can be best defined as:
58. Which of the following is a contemporary management technique used by the
management accountant to identify and monitor the costs of a product throughout all steps from
product design to the finished product?
59. Which of the following is not among the management accounting profession's response
to changes in the contemporary business environment?
60. Important changes in the contemporary business environment include all of the following
except:
61. Which of the following is not a consequence of lack of strategic information?
62. Which of the following is not a way for a management accountant to resolve an ethical
conflict?
63. Which of the following organizations supports the growth and professionalism of
management accounting practice?
64. The five steps of strategic decision-making include all of the following except:
65. The management accountant's responsibility under the Institute of Management
Accountants (IMA) Statement of Ethical Professional Practice includes the responsibility to
"mitigate actual conflicts of interest." This responsibility fits within which of the four standards in
the IMA Statement?
66. Which of the following is not one of the ethical standards included in the Institute of
Management Accountants (IMA) Statement of Ethical Professional Practice?
67. The management accountant who planned to improve an organization's operations by
developing models of consumer behavior would be using which of the following contemporary
management techniques?
