Test Bank for Marketing Information Management FW (Mcs 2020) ALL CHAPTERS

Document Content and Description Below

1. award: 10.00 points 2. award: 10.00 points 3. award: 10.00 points 4. award: 10.00 points 5. award: 10.00 points Day-to-day decision making is most common to which of the fol... lowing activities managers are expected to carry on in organizations? Strategy formulation. → Directing and motivating. Planning. Controlling. Multiple Choice Difficulty: Medium Learning Objective: 1 Identifying alternatives and selecting the best among them is part of which of the following activities which managers carry on in organizations? Controlling. Directing. → Planning. Motivating. Multiple Choice Difficulty: Medium Learning Objective: 1 Budgeting is part of which of the following activities managers perform in organizations? Controlling. Directing. → Planning. Motivating. Multiple Choice Difficulty: Easy Learning Objective: 1 Obtaining feedback is generally identified most directly with which of these functions of management? Planning Directing and motivating → Controlling Decision making Multiple Choice Difficulty: Easy Learning Objective: 1 Which of the following best describes the role of a staff position in an organization? It relates directly to the carrying out of the basic objectives of the organization. → It is supportive in nature, providing service and assistance to other parts of the organization. It is superior in authority to a line position. Both A and C. Multiple Choice Difficulty: Easy Learning Objective: 3 1 of 9 6. award: 10.00 points 7. award: 10.00 points 8. award: 10.00 points 9. award: 10.00 points 10. award: 10.00 points 11. award: 10.00 points Which of the following positions does the controller occupy in an organization? A line position. → A staff position. Neither a line nor a staff position, since the accounting department must be independent. Both a line and a staff position. Multiple Choice Difficulty: Easy Learning Objective: 3 Which of the following best describes the function of managerial accounting within an organization? → It has its primary emphasis on the future. It is required by regulatory bodies such as the Ontario Securities Commission. It focuses on the organization as a whole, rather than on the organization's segments. It places more emphasis on precision of data than financial accounting does. Multiple Choice Difficulty: Easy Learning Objective: 2 Upon which of the following does managerial accounting place considerable weight? Generally accepted accounting principles. The financial history of the entity. Ensuring that all transactions are properly recorded. → Detailed segment reports about departments, products, and customers. Multiple Choice Difficulty: Easy Learning Objective: 2 For internal uses, managers are more concerned with receiving information that achieves which of the following standards? Completely objective and verifiable. Completely accurate and precise. → Relevant, flexible, and timely. Relevant, completely accurate, and precise. Multiple Choice Difficulty: Easy Learning Objective: 2 What would be an example of a performance report? An income statement reporting actual results for the past month. An income statement showing the amounts budgeted for the past month. A balance sheet showing the actual financial position at the end of the past month. → A production report showing budgeted and actual production for the past month. Multiple Choice Difficulty: Hard Learning Objective: 1 Which of the following is NOT one of the three major customer value propositions discussed in the text? customer intimacy → discount pricing operational excellence product leadership Multiple Choice Difficulty: Medium Learning Objective: 1 2 of 9 12. award: 10.00 points 13. award: 10.00 points 14. award: 10.00 points 15. award: 10.00 points 16. award: 10.00 points Which of the following is NOT one of the five steps in the lean thinking model discussed in the text? Continuously pursue perfection in the business process. Identify value in specific products/services. → Implement an enterprise system. Create a pull system that responds to customer orders. Multiple Choice Difficulty: Easy Learning Objective: 5 One consequence of a change from a push to a properly implemented pull production system can be which of the following? an increase in work in process inventories. → an extremely difficult cultural change due to enforced idleness when demand falls below production capacity. an increased mismatch between what is produced and what is demanded by customers. an increase in raw materials inventories. Multiple Choice Difficulty: Hard Learning Objective: 5 Which one of the following is NOT a characteristic of a pull production system? Inventories are reduced to a minimum by purchasing raw materials and producing units only as needed to meet consumer demand. → Raw materials are released to production far in advance of being needed to ensure no interruptions in work flows due to shortages of raw materials. Products are completed just in time to be shipped to customers. Manufactured parts are completed just in time to be assembled into products. Multiple Choice Difficulty: Medium Learning Objective: 5 Which of the following is NOT one of the five steps in the framework used to guide Six Sigma improvement efforts? Analyze. Control. → Digitize. Measure. Multiple Choice Difficulty: Medium Learning Objective: 5 All three major professional accounting groups in Canada require their members to undertake professional development and/or continuing education. This practice is intended to directly satisfy which of these rules of ethical conduct? Integrity. Objectivity. → Competence. Confidentiality. Multiple Choice Difficulty: Medium Learning Objective: 4 3 of 9 17. award: 10.00 points 18. award: 10.00 points 19. award: 10.00 points 20. award: 10.00 points 21. award: 10.00 points Samantha Galloway is a managerial accountant in the accounting department of Mustang Industries, Inc. Samantha has just discovered evidence that some of the corporation's marketing managers have been wrongfully inflating their expense reports in order to obtain higher reimbursements from the firm. According to the Institute of Management Accountants' Standards of Ethical Conduct, what should Samantha do upon discovering this evidence? → Notify the controller. Notify the marketing managers involved. Notify the president of the corporation. Ignore the evidence because she is not part of the Marketing Department. Multiple Choice Difficulty: Hard Learning Objective: 4 Both financial and managerial accounting rely on the same underlying financial data but there are major differences. Managerial Accounting: Emphasizes financial consequences of past activities. Emphasizes precision. → Emphasizes relevance. Must follow GAAP. Multiple Choice Difficulty: Medium Learning Objective: 2 [Show More]

Last updated: 1 year ago

Preview 1 out of 666 pages