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If activity level
increases, what happens to the unit fixed cost?
2) Select one:
a. It decreases.
b. It increases.
c. It remains the
same.
d. It depends on how
much the activity level increases.
3)
Which of the
following is not a duty of a
management accountant under the IMA Statement of Ethical Professional
Practice’s integrity standard?
Select one:
a. Mitigate
actual conflict of interest.
b. Refrain from
engaging in any conduct that would prejudice carrying out duties ethically.
c. Properly exercise authority.
d. Abstain from
engaging in or supporting any activity that might discredit the profession.
4)
A traditional GAAP
income statement does not help
managers predict the financial results of their decisions because the format of
the statement is based on cost function rather than cost behavior. Which of the
following is not classified as a cost function?
Select one:
a. Product
b. Sales
c. Administration
d. Variable
5)
Janitorial supplies
used in the factory restrooms is an example of:
Select one:
a.
|
Direct Material
|
Product Cost
|
|
Yes
|
No
|
b.
|
Direct
Material
|
Product
Cost
|
|
Yes
|
Yes
|
c.
|
Direct Material
|
Product Cost
|
|
No
|
Yes
|
d.
|
Direct
Material
|
Product
Cost
|
|
No
|
No
|
6)
Which of the
following is not a type of unethical behavior employees might observe?
Select one:
a. Abusive or
intimidating behavior
b. Lying to
employees
c. Misreporting
of hours worked
d. Having employees sign an acknowledgement that
they understand and will adhere to the corporate code of conduct.
7)
There
is an important relation between contribution margin and profit. Which of the
following statements is not true?
Select one:
a. As the number
of units sold rises, profit increases by the variable cost per unit.
b. As the number of
units sold increases, total contribution margin increases, but fixed costs
remain the same.
c. As the number
of units sold rises, profit increases by the additional contribution margin per
unit.
d. As the number of units sold decreases, total
contribution margin decreases, but fixed costs remain the same.
8)
Which
of the following is not a
characteristic of managerial accounting reports?
Select one:
a. Managerial
accounting reports are designed to provide the ultimate decision maker with the
appropriate information.
b. Managerial
accounting reports come in a variety of formats.
c. Managerial
accounting reports are not distributed to the general public.
d. All of these answer choices are correct.
9)
Which of the
following does not affect the price a company charges under cost-plus pricing?
Select one:
a. Desired gross
margin percentage
b. The cost of the
product
c. The historical price of the product or
service
d. All of these
answer choices affect the price a company charges under cost-plus pricing.
10)
The
cost of storing finished goods inventory is an example of
Select one:
a.
|
Period Cost
|
Overhead
|
|
Yes
|
No
|
b.
|
Period
Cost
|
Overhead
|
|
Yes
|
Yes
|
c.
|
Period Cost
|
Overhead
|
|
No
|
Yes
|
d.
|
Period
Cost
|
Overhead
|
|
No
|
No
|
11)
Which
of the following statements relating to just-in-time inventory is not correct?
Select one:
a. As soon as
goods are completed, they are shipped directly to the customer.
b. Products are
generally completed in small batches in response to customer requests.
c. Just-in-time is beneficial to all companies that will implement it.
d. No safety stock
is kept in the event that some units are found to be defective.
