Managerial Accounting Quiz On Accounting Systems/Information

Refresh or test your managerial accounting knowledge on accounting systems or information:

Multiple choice question

1. Accounting reports which are used by managers to compare actual results to budgeted performance in order to perform management by exception are called:
a. Exceptional reports
b. Performance reports
c. Budgets
d. General ledgers  

2. Which of the following should be considered in the selection of an accounting system?
a. Costs of buying and operating the system
b. Improved decision-making power resulting from the system
c. Behavorial effect of the systems on managers
d. All of above

3. Accounting systems should be designed to answer which of the following types of questions?
a. Scorecard, attention directing, and problem solving
b. Who, what, when, where, why and how
c. Social implication of environmental policy
d. Philosophical ones

4. The major users of accounting information are:
a. Internal managers for non routine decisions
b. Internal managers for planning and control purposes
c. External parties for making decisions about the company
d. All of these 

5. The functions of planning for control, evaluating and consulting, and government reporting are typically assumed within organizations by:
a. The company treasurer
b. The company controller
c. The company vice-president of marketing
d. External auditors 

6. Revenues are expected to exceed expenses in which phases of the product life cycle?
a. Mature market
b. Phase-out
c. Product development
d. Introduction to market
e. Both a and b 

7. Individuals whose main function in organizations is to assist operating managers in decision making are working in:
a. Staff roles
b. Line roles
c. Operating roles
d. Chief executive roles 

8. Trends that are causing changes in management accounting today include:
a. Advances in technology
b. Increased global competition
c. A shift from a manufacturing to a service-based economy
d. All of the above 

1 b ; 2 d ; 3 a ; 4 d ; 5 b : 6 e ; 7 a ; 8 d

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