Practice Final Exam for AC 225 Managerial Accounting
Answers will be released on FRIDAY.
NOTE: These questions will give you practice on answering questions in the format of the final exam,
which has 60 to 70 multiple choice questions. You should not depend on reviewing these specific
questions alone to review all of the topics on the Final Exam Review also posted in D2L.
Chapter 1
1. Managerial Accounting and Financial Accounting differ in the following way:
A. Financial Accounting emphasizes forecasts of future performance.
B. Financial Accounting summarizes information for the company as a whole.
C. Financial Accounting is private information for company managers
D. Financial Accounting emphasizes timeliness over precision.
Discussion: Managerial accounting emphasizes providing information about segments and
products within a company, rather than the company as a whole. Financial accounting creates
financial statements that must present all components under common control.
2. Common users of managerial accounting reports include the following:
A. Operations manager and loan officer
B. Chief financial officer and public shareholder
C. Public shareholder and loan officer
D. Chief financial officer and operations manager
Discussion: Managerial accounting is used by company insiders. Loan officers work for a bank.
Shareholders are the external owners of a business.
3. The management function of controlling is carried out through the use of
A. A performance report that compares budgeted to actual results.
B. A reconciliation of the beginning and ending retained earnings balances.
C. A schedule of cash collections and cash payments
D. A forecast of next period’s production.
Discussion: The control function is evaluating the results of company actions. Only A involves
both measuring results and comparison to determine whether the results are favorable or
unfavorable.
4. Management accounting is used by
A. Human resource employees who need to plan hiring
B. Marketing employees who make decisions on profit achievable through an advertising campaign
C. Accounting employees who make budget recommendations.
D. All of the above.
5. The CMA certification requires
A. A rigorous professional exam only
B. Experience in Financial management only.
C. A rigorous professional exam and experience in financial management only.
2
D. An accounting degree and a rigorous professional exam and experience in financial
management.
Discussion: Individuals with any college major can become Certified Management Accountants.
6. Guidelines for ethical behavior for management
Download alle 33 pagina's voor € 23,93
Document in winkelwagenI'm happy to see you get the best grades, hence why I have compiled the necessary study material to help you pass with flying colors. Congratulations in advance!!!
branding communication network cwea collection systems maintenance 140 questions with verified answers. cwea collections grade 1(one)| 28 questions with verified answers | latest 2023/2024 cwea collections grade 2 (two) | 75 questions with verified answers | latest 2023/2024 cwea collections system maintenance grade 3| 82 questions with verified answers | latest 2023/2024 cwea e/i 2 complete study guide |141 questions with correct answers | latest 2023/2024 cwea grade 4 (four) test with verified solutions. cwea practice test with complete solutions | latest 2023/2024 digital marketing strategy recommendations international management macroeconomics operation mamangement project management the top 5 reasons why animation is taking nover the world water pollution water resources management wgu c215 operations management wgu c215 operations management pvdc wgu c215 practice exam wgu c215 study guide wgu c215: pre-assessment wgu c483 - principles of management wgu c483 practice test questions and answers 100% pass wgu c724 information systems management pre assessment
De samenvattingen zijn goed om te gebruiken als je te laat bent met leren of slecht bent in samenvatten.
Fijne website voor elke student die hulp nodig heeft bij het leren.
Kijk voor samenvattingen ook eens op Knoowy. Goede samenvattingen en betaalbaar.
Prima ervaring, vlotte betaling, alles vlot kunnen downloaden Zeker voor herhaling vatbaar.
Zeer goed in gebruik en betrouwbaar. Zelf zou ik er ook samenvattingen op plaatsen.
Jullie website is top! Het heeft me al veel geholpen. Zeker omdat ik thuis studeer!
Nadat ik Knoowy ontdekt heb, ga ik regelmatig op zoek naar eventuele bruikbare samenvattingen! Heel erg handig!
Weer een goede ervaring met Knoowy. Makkelijk en snel een nette samenvatting.