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Cost Accounting 101 Practice Test: The Accountant's Role
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Avg score: 59% Most missed: “Which of the following statements about customer value is NOT true?”
Accountants review and analyze financial records for individuals and companies, keeping track of income, expenditures, and tax liabilities.  Accountants may also be involved in: Project planning, Cost analysis, Auditing, Financial decision-making, Tax preparation, Financial reporting, and Financial control.  Here are some of the main roles or functions of accounting: Account receivable: Processing incoming payments Account payable: Making payments and keeping bills paid Payroll: Ensuring employees receive their salary on time  Accountants may work in a large company's accounting... Show more
Cost Accounting 101 Practice Test: The Accountant's Role
Time left 00:00
25 Questions

1. It is difficult to control activities without a budget.
2. Strategic cost management describes cost management that specifically focuses on strategic issues.
3. Line management includes:
4. Customer relationship management initiatives use technology to coordinate all:
5. Management accountants have important ethical responsibilities that are related to competence, confidentiality, integrity, and credibility.
6. Examples of the controller's functions include all EXCEPT:
7. Key success factors are geared to improving customer satisfaction.
8. Which item is an indication of integrity under the Standards of Ethical Conduct?
9. Which of the following statements about customer value is NOT true?
10. If there is an ethical conflict concerning your direct supervisor, when is it appropriate to contact authorities or individuals NOT employed by the organization?
11. Increased global competition is placing pressure on companies to reduce costs.
12. ________ is the manner by which companies promote and sell their products or services to customers or perspective customers.
13. Customers are demanding increased levels of performance in all aspects of the value chain and the supply chain.
14. For best results, cost management emphasizes independently coordinating supply chain activities within your company and with other companies that act as suppliers and customers.
15. Cost accounting:
16. Which of the following statements concerning performance reports is NOT correct?
17. The value chain is the sequence of business functions in which:
18. ________ includes providing financial information for reports to managers and shareholders, and overseeing the overall operations of the accounting system.
19. Ethical challenges for management accountants include:
20. ________ describe(s) the flow of goods, services, and information from the purchase of materials to the delivery of products to consumers, regardless of whether those activities occur in the same organization or with other organizations.
21. In designing strategy, a company must match the opportunities and threats in the marketplace with:
22. Cost management provides information that helps increase value for customers.
23. Management accounting information includes:
24. Production"
25. A data warehouse or infobarn: