Which of the following is not an ethical standard of managerial accounting?

Chapter 01 Test Bank – Static KEY

1. What type of accounting system is part of an organisation's management information system for internal use only?

A. Financial accounting

B. Management accounting

C.

Governmental accounting

D.

All of the given answers

AACSB:

Reflective

Difficulty:

Easy

Learning Objective: 1.03 Describe the major differences between management accounting and financial accounting information

Topic: Role of Management Accountant in Value Creation

2.

Which of the following statement/s about management accounting is/are true?

i.

It is a part of an organisation's management information system.

ii.

It is relied on by managers to plan and control an organisation's operations.

iii.

It is relied on by external users to make investment decisions.

A. i and ii

B.

i, ii and iii

C.

iii

D.

ii

AACSB:

Reflective

Difficulty:

Easy

Learning Objective: 1.02 Define management accounting in terms of value creation

Topic: Role of Management Accountant in Value Creation

3.

Which of the following statement/s about management accounting is/are true?

i.

It is concerned only with information obtained from the accounting records.

ii.

It is concerned with financial and non-financial information.

iii.

It can provide information useful for making decisions.

A.

i

B.

i and ii

C. ii and iii

D. ii

AACSB:

Reflective

Difficulty:

Medium

Learning Objective: 1.02 Define management accounting in terms of value creation

Topic: Role of Management Accountant in Value Creation

4.

A strategy is

i.

another name for a long-term objective

ii.

the same as an objective

iii.

a means by which an organisation plans to meet its mission and achieve its objectives

A.

i

B.

ii

C. iii

D. i and ii

AACSB:

Reflective

Difficulty:

Medium

Learning Objective: 1.06 Explain the basic concepts of strategy and how management accounting systems can support strategies

Topic: Fundamental Management Processes

5.

Which of the following is not an objective of management accounting?

A.

Providing information for making decisions

B.

Providing information for planning

C.

Providing information for control

D. Providing information for profit and loss statements

1-1

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What are the ethical standards of managerial accounting?

Which of the below is not the standards of ethical Conduct for managerial accountants?

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Is Managerial Accounting standardized?