Managerial Accounting Hilton Quiz1 Answers

Topics: Management accounting, Certified Management Accountant, Decision making Pages: 8 (1513 words) Published: September 6, 2012
Multiple Choice Quiz
(See related pages)

Results Reporter|
Out of 15 questions, you answered 2 correctly with a final grade of 13%| | | | |
| 2 correct (13%)| | |
| 12 incorrect (80%)| | |
| 1 unanswered (7%)| | |

Your Results:|
The correct answer for each question is indicated by a .| -------------------------------------------------
Top of Form
Which of the following organizations would be least likely to have a company objective involving the maximization of shareholder value?| | | A)| The Walt Disney Company|
| | B)| Marriot Hotels|
| | C)| Southwest Airlines|
| | D)| The American Red Cross|
| | E)| All of the above organizations would be equally likely to establish the objective described.| | | | | |
Feedback: The American Red Cross is a not for profit and does not have shareholders. Its goals and objectives would likely involve succeeding at its philanthropic mission as well as being a good steward with the financial resources it receives from the donating public. LO 1.| |

Which of the following statements is true?|
| | A)| Managerial Accountants are "number crunchers" who provide critical information to decision makers but do not themselves contribute to the decision making process.| | | B)| The role of the managerial accountant has not changed in the last twenty years.| | | C)| Managerial accountants play an integral leadership role on an organization's management team.| | | D)| The activities performed by the management accountant are administrative in nature and typically do not add value to the company.| | | E)| A and D are both true.|

| | | | |
Feedback: The role of managerial accounting is very different now than it was even a decade ago. In the past, managerial accountants operated in a strictly staff capacity, usually physically separated from the managers for whom they provided reports and information. Nowadays, managerial accountants serve as internal business consultants, working side-by-side in cross-functional teams with managers from all areas of the organization. LO 1| |

Which of the following end user(s) would be most likely to include information provided by the managerial accounting system in their decision making process?| | | A)| stockholders|
| | B)| lenders|
| | C)| consumer groups|
| | D)| product managers|
| | E)| all of the above would likely consider managerial accounting information in their decision making process.| | | | | |
Feedback:The focus of managerial accounting is on the needs of managers within the organization, rather than interested parties outside the organization. Financial accounting is the use of accounting information for reporting to parties outside the organization. LO 4| |

In your assigned readings the authors described four fundamental management processes that help organizations to attain their goals. Which of the below choices correctly depicts these four day-to-day management activities? i. Decision making ii. Planning iii. Innovation & Feedback iv. Directing operational activities v. Controlling| | | A)| i, ii, iii & iv|

| | B)| ii, iii, iv & v|
| | C)| i, iii, iv & v|
| | D)| i, ii, iv & v|
| | E)| i, ii, iii & v|
| | | | |
Feedback:The day-to-day work of the management team comprises four activities: (1) making decisions, (2) planning, (3), directing operational activities and (4)controlling. LO 2| |
The managerial accounting activity adds value to an organization by pursuing five major objectives. Which of the following is an objective of managerial accounting?| | | A)| Providing information for decision making and planning| | | B)| Assisting managers in directing and controlling operational activities|...
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