Managerial Accounting: Creating Value in a Dynamic Business Environment 12th Edition by Ronald Hilto
All of these choices are correct.
All of these factors are linked to the corporate scandals.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
87.
Award: 1.00 point
Which of the following acts strives to improve corporate governance and the quality of corporate
accounting/reporting?
Robinson-Patman.
Taft-Hartley.
Sarbanes-Oxley.
Bush-Cheney.
Arthur-Andersen.
Corporate governance and the quality of corporate accounting and reporting are the focus of the
Sarbanes-Oxley Act.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
88.
Award: 1.00 point
When ethical lapses such as the 2015 incident with Volkswagen happen, what is lost?
trust of society.
confidence of shareholders, employees, suppliers, and customers.
market valuation.
reputation of the ethically challenged company.
All of these choices are correct.
Not only is unethical behavior in business wrong in a moral sense, and damaging to individual
organizations, but it also can be disastrous from the standpoint of the economy.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
89.
Award: 1.00 point
Which of the following is not an ethical standard of managerial accounting?
Competence.
Confidentiality.
Efficiency.
Integrity.
Credibility.
Efficiency is not an ethical standard of managerial accounting.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
90.
Award: 1.00 point
Which of the following is not an element of competency?
To develop appropriate knowledge about a particular subject.
To perform duties in accordance with relevant laws.
To perform duties in accordance with relevant technical standards.
To refrain from engaging in an activity that would discredit the accounting profession.
To prepare clear reports after an analysis of relevant and reliable information.
Refraining from activity that would discredit the accounting profession is not an element of
competency.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
91.
Award: 1.00 point
Assume that a managerial accountant regularly communicates with business associates to avoid
conflicts of interest and advises relevant parties of potential conflicts. In so doing, the accountant
will have applied the ethical standard of:
objectivity.
confidentiality.
integrity.
credibility.
unified behavior.
The accountant applied the ethical standard of integrity.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
92.
Award: 1.00 point
A. What is managerial accounting?
B. Explain why managerial accountants are such important strategic partners in an organization’s
management team.
A. Managerial accounting is the process of identifying, measuring, analyzing, interpreting, and
communicating information in pursuit of an organization’s goals. As such, managerial accounting is
an integral part of the management process.
B. Managerial accountants are such important strategic partners in an organization’s management
team because they are specialists in using the tools, knowledge, and techniques of management
accounting to turn complex data into actionable information that helps managers plan, measure
value, and manage risk in a company’s operations.
References
Essay Difficulty: 2 Medium Learning Objective: 01-01 Define
managerial accounting and describe its
role in the management process.
93.
Award: 1.00 point
Give examples of each of the four primary management activities in the context of a national pizza
franchise.
Examples of the four primary management activities in the context of a national pizza franchise are