58 Free Test Bank for Managerial Accounting 1st Edition by Datar

With the purpose of giving the core knowledge presenting easy-to-understand and ready-practiced test bank in the textbook  as well as essential skills to make good business decisions in any organization, we introduce freely online accounting questions with full response in 58 free test bank for Managerial Accounting 1st Edition by Datar Multiple Choice Questions so that you can cover important techniques for successful management in real situations.

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An Enterprise Resource Planning (ERP) system is:

•  A) a cost-management system that specifically focuses on strategic issues.
•  B) a single database that collects data and feeds it into applications that support each of the company's business activities, such as purchasing, production, distribution, and sales.
•  C) a sequence of business functions in which customer usefulness is added to products.
•  D) a strategy that integrates people and technology in all business functions to deepen relationships with customers, partners, and distributors.
•  E) an integrated philosophy of management for continuously improving the quality of products and processes.

Strategic cost management describes cost management that:

•  A) is not consistent with organizational goals.
•  B) does not relate to ethical practices.
•  C) has no focus on the organization.
•  D) specifically focuses on strategic issues.
•  E) does not specifically focus on strategic issues.

________ ________ measures, analyzes and reports financial information and nonfinancial information that helps managers make decisions to fulfill the goals of an organization.

•  A) Financial Accounting
•  B) Management Accounting
•  C) Cost Accounting
•  D) Cost Management
•  E) Account Auditing

Users of management accounting information include:

•  A) banks.
•  B) investors.
•  C) suppliers.
•  D) regulators.
•  E) managers of the organization.

When managers generate and experiment with ideas related to new products, services or processes. this is:

•  A) research and development.
•  B) design of products and processes.
•  C) production.
•  D) marketing.
•  E) distribution.

Which of the following statements concerning an organization's strategy is not true?

•  A) A strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives.
•  B) Management accountants provide input to help managers formulate strategy.
•  C) A good strategy will always overcome poor implementation.
•  D) Businesses usually follow one of two broad strategies: (1) offering a quality product at a low price, and (2) offering a unique product or service priced higher than the competition.
•  E) None of these are true.

Processing orders and shipping products or services to customers is:

•  A) marketing.
•  B) production.
•  C) distribution.
•  D) research and development.
•  E) design of products and processes.

Management accounting:

•  A) focuses on measuring, analyzing, and reporting financial and nonfinancial information to help managers estimate future revenue, costs, and other measures to forecast activities and formulate strategies to increase the competitive advantage of the organization.
•  B) financial-information purpose is to communicate organization's financial position to investors, banks, regulators, and suppliers.
•  C) focus and emphasis is on past-oriented reports.
•  D) rules of measurement reporting require financial statements to be prepared in accordance of GAAP.
•  E) behavioral information primarily reports economic events, but also influences behavior because manager's compensation is often based on reported financial data.

The time it takes for companies to develop new products and services and bring them to market is:

•  A) delay.
•  B) new-product development time.
•  C) distribution time.
•  D) important dimension.
•  E) increased pace.

The ________ ________ is an administration function that includes the human resource management function of training front-line workers.

•  A) design function
•  B) distribution function
•  C) production function
•  D) marketing function
•  E) customer service function

Management accountants work closely with other managers to develop strategies. Which of the following is not a source of competitive advantage they share to develop those strategies?

•  A) Share company interdepartmental costs at meetings.
•  B) Share productivity reports.
•  C) Share best practices at meetings so other managers learn new and innovative strategies.
•  D) Share and understand the efficiency advantage relative to their competitors.
•  E) Share only time to attend luncheons and meetings, but never discuss interdepartmental information.

Managers make cost management decisions to increase the value of products and services they provide to customers and to achieve organizational goals. Which of the following is not an example of an effective cost management decision?

•  A) The decision to enter a new market.
•  B) A decision to change the design of a product.
•  C) The decision to implement new organizational processes.
•  D) Information and the accounting systems themselves.
•  E) Decisions to use the information from accounting systems.

Which of the following is not a way for a company to improve customer response time?

•  A) An increase in capacity of bottleneck operations.
•  B) Decrease in response time to consumer requests.
•  C) Faster delivery procedures.
•  D) Produce the product quicker.
•  E) Effective management accounting information.

Trader Joe's is known for delivering unique products to consumers at reasonable prices. Which of the following is not one of the strategies they use to attract and retain consumers?

•  A) Delivers unique products at reasonable prices.
•  B) Offers low-cost, high-end staples to attract and retain consumers.
•  C) Minimize cost to attract and retain consumers with brand items.
•  D) Maximize cost to attract and retain consumers with brand items.
•  E) Implements precise, just-in-time ordering with daily distribution trips.

Financial accounting:

•  A) focuses on reporting financial information to managers of the organization.
•  B) financial statements must comply with Generally Accepted Accounting Principles (GAAP).
•  C) focus and emphasis is on future-oriented reports.
•  D) rules of measurement are internal measures and reports do not have to follow GAAP, but are based on cost-benefit analysis.
•  E) behavioral implications are designed primarily to influence the behavior of managers and other employees.

The managers at Vanguard follow a cost leadership strategy. Which of the following is a characteristic of their strategy?

•  A) Provide consumers unique products.
•  B) Provide consumers different products.
•  C) Provide consumers quality products or services at low prices by effective cost management.
•  D) Products are higher priced and less popular products or services than their competitors.
•  E) Provide budgets versus strategies and make more money by charging higher prices.

The ________ function is the function of analyzing, reporting, and accounting for those resources spent in different marketing channels; while the ________ function includes the human resource management function of training front-line workers.

•  A) distribution; marketing
•  B) marketing; production
•  C) customer service; distribution
•  D) marketing; customer service
•  E) production; customer service

Included in the ________ ________ is the function of analyzing, reporting, and accounting for resources spent in different marketing channels.

•  A) marketing function
•  B) distribution function
•  C) process function
•  D) planning function
•  E) production function

Financial accounting managers are more concerned about:

•  A) future-oriented budgets.
•  B) past-oriented reports.
•  C) reports that do not follow GAPP.
•  D) reports that are based on cost-benefit analysis.
•  E) utilizing information to help managers make decisions to achieve organizational goals.

To lower costs and increase efficiency at Nike, the decision makers moved its operations to China and Mexico. This is known as:

•  A) outsourcing.
•  B) managing.
•  C) controlling.
•  D) developing.
•  E) implementing.

Which of the following is not a key success factor that managerial accountants use to promote sustainability in their organizations?

•  A) Cost.
•  B) Efficiency.
•  C) Quality.
•  D) Time.
•  E) Relevance.

Which of the following is not a way that a manager at a manufacturing firm can improve the performance level in the organization?

•  A) A focus on the value-chain.
•  B) A focus on supply-chain operations.
•  C) A focus only on budgeting to improve all performance levels in the organization.
•  D) A focus on customer service and the distribution channels to enhance operations.
•  E) A focus on marketing strategies to develop new products and services.

A ________ is used to specify how a managerial accountant at an organization matches the capabilities with opportunities in the marketplace to accomplish their objectives. It also helps managers gain a competitive advantage at their company.

•  A) goal
•  B) ethic
•  C) focus
•  D) strategy
•  E) production

The managers at Apple are successful because they offer consumers unique and different products. Which strategy do they use to attract and retain customers?

•  A) A cost leadership strategy.
•  B) A product differentiation strategy.
•  C) A low-cost leadership strategy.
•  D) A low-product leadership strategy.
•  E) That is what they do, there is no strategy.

Some managerial accountants at companies choose to focus on a product differentiation strategy. Which of the following is not a characteristic of this strategy?

•  A) Offer unique products.
•  B) Offer different services.
•  C) Offer lower-priced products or services.
•  D) Offer less-popular products or services.
•  E) Offer higher-priced products or services.

Sustainability:

•  A) is the development of employment opportunities to decrease the national job deficit.
•  B) is a political term that corporate controllers use only at global manufacturing operations when they refer to ethical standards of production.
•  C) is the development and implementation of strategies to achieve long-term financial, social, and environmental performance.
•  D) is a technique that is used only when the organization outsources operations in global operations.
•  E) is a step in the decision-making process that managers only use to enhance ethical standards in their organizations.