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Wednesday, April 15, 2015

Free Test Bank for Cornerstones of Managerial Accounting 5th Edition by Mowen

Following are free test bank for Cornerstones of Managerial Accounting 5th Edition by Mowen not only builds up a strong foundation but also helps to apply concepts to make exact business decisions. Below are 20 accounting textbook test bank questions for free with available answers to master your accounting knowledge. Try it out!

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The controller of an organization participates in

b. controlling.
c. decision making.
d. all of these are correct
a. planning.

Developing a company strategy for responding to anticipated new markets is an example of

b. controlling.
d. all of these are correct.
c. decision making.
a. planning.

Accountants that have a Certificate in Public Accounting (CPA):

a. are the only accountants permitted to serve as external auditors.
c. may be held responsible to provide assurance concerning the reliability of a firm's financial statements.
d. all of these statements are true.
b. must pass a national examination and be licensed by the state in which they practice.

The standards of ethical conduct for managerial accountants include

d. competence, confidentiality, integrity, and credibility.
c. confidentiality, confidence, integrity, and observance.
b. integrity and respect for others.
a. competence and performance.

Total quality management emphasizes

b. continuous improvement.
a. zero defects.
d. all of these are correct.
c. elimination of waste.

Persons in the United States who provide assurance service are designated as

a. Certified Public Accountants.
c. Chartered Accountants.
d. Certified Management Accountants.
b. Certified Financial Accountants.

Activity-based costing

b. is the process of choosing among competing alternatives.
d. encourages process-value analysis.
a. strives to create an environment that will enable workers to manufacture zero-defect products.
c. was established in response to financial scandals.

Which of the following is an example of the management activity referred to as planning?

a. Developing a strategy for disposing of hazardous waste.
b. The decision to eliminate an unprofitable segment of an organization.
c. The decision to outsource an organization's payroll processing.
d. All of these are correct

The objective of profit maximization

c. should be achieved through legal and ethical means.
d. should outweigh the goal of product quality.
a. should be the only goal of an organization.
b. is an objective of financial accounting but not managerial accounting.

Which of the following would normally occupy a staff position?

d. all of these
b. cost accounting manager
a. assembly worker
c. factory manager

The primary objective of managerial accounting is

c. to provide management with information useful for planning and control of operations.
b. to provide banks and other creditors with information useful in making credit decisions.
d. to provide the Internal Revenue Service with information about taxable income.
a. to provide stockholders and potential investors with useful information for decision making.

Which of the following areas is not emphasized on the CMA examination?

d. financial accounting and reporting
c. decision analysis and information systems
a. external auditing and business law
b. economics, finance, and management

Investigating production variances and adjusting the production process is an example of

d. all of these.
a. planning.
b. controlling.
c. decision making.

Which of the following would not be an example of a value-added activity?

b. offering the customer a variety of products
a. timely delivery of products
d. excellent customer service
c. storage of finished products

Which of the following is not an objective of managerial accounting?

a. To prepare external reports for investors, creditors, government agencies, and other outside users.
c. To provide information for planning, controlling, evaluating and continuous improvement.
d. To provide information for decision making.
b. To provide information for costing of services, products, and other objects of interest to management.

Managerial accounting reports are prepared