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MAA 703 - Multiple Choice Questions With Answers

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1.Which of the following statements regarding responsibility within an organisation is incorrect? a. Line managers have indirect responsibility. b. Line managers have direct responsibility.S c. Sta ... ff managers have indirect responsibility. d. The chief management accountant typically has both staff and line authority. 2.Planning is: a. comparing actual performance against targets. b. setting objectives and formulating plans for future operations. c. measuring the performance of managers against preset targets. d. motivating managers towards achieving organisational goals. 3.Which of the following is the most logical sequence for a commencing organisation? a. Control, feedback, planning b. Planning, control, feedback c. Feedback (feedforward), planning, control, feedback d. Control, planning, feedback 4.Which of the following are management accounting responses to the changing business environment? a. Activity-based costing b. E-commerce c. Supplier cost analysis d. A and C 5. Strategies are: a. measures put in place to achieve the firm's objectives. b. developed before the firm's goals are determined. c. the same as objectives and goals. d. independent of the firm's mission statement. What type of accounting system is part of an organisation's management information system for internal use only? a. Financial accounting b. Management accounting c. Governmental accounting d. All of the given answers Which of the following statements is correct in relation to determining whether a cost is direct or indirect? a. The wider the definition of the cost object the more costs that will be indirect costs. [Show More]

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