Managerial Accounting: Creating Value in a Dynamic Business Environment 12th Edition by Ronald Hilto

True / False Difficulty: 1 Easy Learning Objective: 01-07 Understand
and explain the value chain concept.
The upper limit on the production of goods and services if everything works perfectly is known as
practical capacity.
True
False
References
True / False Difficulty: 1 Easy Learning Objective: 01-08 Explain how
investments in capacity affect managerial
decision making.
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 17.
Award: 1.00 point
 18.
Award: 1.00 point
Non-value-added costs are the costs of activities that can be eliminated with no deterioration of
product quality, performance, or perceived value.
True
False
References
True / False Difficulty: 1 Easy Learning Objective: 01-08 Explain how
investments in capacity affect managerial
decision making.
If a company has poor data governance practices, managers would have to worry that the
managerial accounting data they receive is not what they need for their decisions, or that it would
arrive too late or be inaccurate.
True
False
References
True / False Difficulty: 2 Medium Learning Objective: 01-09 Understand
and explain big data and data analytics
and how they interact with managerial
accounting.
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 19.
Award: 1.00 point
 20.
Award: 1.00 point
The process of making sense of big data is known as data practice.
True
False
References
True / False Difficulty: 2 Medium Learning Objective: 01-09 Understand
and explain big data and data analytics
and how they interact with managerial
accounting.
The largest managerial accounting professional association in the U.S. is the Chartered Institute of
Management Accountants.
True
False
References
True / False Difficulty: 1 Easy Learning Objective: 01-10 Discuss the
professional organizations and
certifications in the field of managerial
accounting.
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 21.
Award: 1.00 point
 22.
Award: 1.00 point
The CMA is a professional certification that managerial accountants can earn to validate their skills
and the specialized knowledge that they possess.
True
False
References
True / False Difficulty: 1 Easy Learning Objective: 01-10 Discuss the
professional organizations and
certifications in the field of managerial
accounting.
All financial professionals, including managerial accountants, have an obligation to themselves, their
colleagues, and their organizations to adhere to high standards of ethical conduct.
True
False
References
True / False Difficulty: 1 Easy Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
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 23.
Award: 1.00 point
 24.
Award: 1.00 point
Legitimate ethical issues rarely impact the managerial accountant.
True
False
References
True / False Difficulty: 1 Easy Learning Objective: 01-11 Describe the
ethical responsibilities and ethical
standards that apply to managerial
accounting.
Which of the following statements about managerial accountants is false?
Managerial accountants more and more are considered "business partners."
Managerial accountants often are part of cross-functional teams.
An increasing number of organizations are segregating managerial accountants in
separate managerial-accounting departments.
In a number of companies, managerial accountants make significant business decisions
and resolve operating problems.
The role of managerial accountants has changed considerably over the past decade.
Managerial accountants are increasingly integrated into all aspects of an organization.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-01 Define
managerial accounting and describe its
role in the management process.
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 25.
Award: 1.00 point
Which of the following is not an action performed in combination with information to pursue the
goals of managerial accounting?
Identify.
Measure.
Invent.
Interpret.
Analyze.
The inaccurate action in this list is invent.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-01 Define
managerial accounting and describe its
role in the management process.
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 26.
Award: 1.00 point
Which of the following is correct regarding the changing role of managerial accounting?
The managerial accountant is crunching more numbers than ever before in leading-edge