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    FORBES COLLEGE - Docx - Quiz1managerialacc.

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    Lea Moureen Kaibigan
    This document contains a quiz for a Management Accounting course. The quiz has three sections that cover key terms related to management and accounting, multiple choice questions about management accounting concepts, and an essay question about appropriate actions to take if witnessing theft from a petty cash fund. It tests students' understanding of management accounting principles like the differences between managerial and financial accounting, common management accounting reports, and the role of the chief financial officer.

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    FORBES COLLEGE - Docx - Quiz1managerialacc.

    Uploaded by

    Lea Moureen Kaibigan
    15 views2 pages
    This document contains a quiz for a Management Accounting course. The quiz has three sections that cover key terms related to management and accounting, multiple choice questions about management accounting concepts, and an essay question about appropriate actions to take if witnessing theft from a petty cash fund. It tests students' understanding of management accounting principles like the differences between managerial and financial accounting, common management accounting reports, and the role of the chief financial officer.

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    This document contains a quiz for a Management Accounting course. The quiz has three sections that cover key terms related to management and accounting, multiple choice questions about management accounting concepts, and an essay question about appropriate actions to take if witnessing theft from a petty cash fund. It tests students' understanding of management accounting principles like the differences between managerial and financial accounting, common management accounting reports, and the role of the chief financial officer.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    15 views2 pages

    FORBES COLLEGE - Docx - Quiz1managerialacc.

    Uploaded by

    Lea Moureen Kaibigan
    This document contains a quiz for a Management Accounting course. The quiz has three sections that cover key terms related to management and accounting, multiple choice questions about management accounting concepts, and an essay question about appropriate actions to take if witnessing theft from a petty cash fund. It tests students' understanding of management accounting principles like the differences between managerial and financial accounting, common management accounting reports, and the role of the chief financial officer.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    FORBES COLLEGE, INC.

    LEGAZPI CITY
    2nd SEMESTER ACADEMIC YEAR 2022 – 2023

    Quiz no. 1
    MANAGEMENT ACCOUNTING

    Name: ________________________ Course/Year: ____________ Date:____________ Score: ___________


    I. LISTED BELOW ARE A NUMBER OF TERMS THAT RELATE TO ORGANIZATIONS, THE WORK OF MANAGEMENT,
    AND THE ROLE OF MANAGERIAL ACCOUNTING:

    Budgets line
    Chief Financial Officer Managerial Accounting
    Controller Nonmonetary Data
    Decentralization Performance Report
    Directing and Motivating Planning
    Feedback Precision
    Financial Accounting Staff

    Choose the term or terms above that most appropriately complete the following statements.
    1. __________ is concerned with providing information for the use of those who are inside the organization,
    whereas ___________ is concerned with providing information for the use of those who are outside the
    organization.
    2. When ____________ managers oversee day-to-day activities and keep the organization function smoothly.
    3. The accounting and other reports coming to management that are used in controlling the organization are called
    ________________.
    4. A position on the organization chart that is directly related to achieving the basic objective of an organization is
    called a ___________ position.
    5. A _____________ position provides services or assistance to other parts of the organization and does not
    directly achieve the basic objectives of the organization.
    6. The manager in charge of the accounting department is generally known as the ___________.
    7. The plans of management are expressed formally in ____________.
    8. A detailed report to management comparing budgeted data to actual data for a specific time period is called a
    __________.
    9. The ___________ is the member of the top management team who is responsible for providing timely and
    relevant data to support planning and control activities and for preparing financial statements for external users.
    10. Managerial Accounting places less emphasis on ______________ than financial accounting.

    II. MULTIPLE CHOICE QUESTIONS. Encircle the letter corresponding to the best answer.
    1. Which of the following descriptions refers to management descriptions refers to management
    accounting information?
    a. It is verifiable and reliable. c. It is prepared for shareholders.
    b. It is driven by rules. d. It provides reasonable and timely estimate.
    2. Which of the following groups would be the LEAST likely to receive detailed management accounting
    reports?
    a. Stockholders c. Production Supervisor
    b. Sales Representative d. Managers
    3. Which of the following types of information are used in management accounting?
    a. Financial Information c. Information focus on long term
    b. Nonfinancial Information d. All of the above
    4. R & D, production and customer service are business functions that are all included as part of
    a. the value chain c. marketing
    b. benchmarking d. the supply chain
    5. A production system in which units are produced and materials are purchased only as needed to
    meet actual customer demand is called
    a. Total quality management c. Process engineering
    b. Just-in-time d. Benchmarking
    III. ESSAY TYPE
    1. If you see a coworker stealing from the petty cash fund, what are the possible courses of action and
    how do you proceed? (10 points)

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