Managerial Accounting: Creating Value in a Dynamic Business Environment 12th Edition by Ronald Hilto
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.
57.
Award: 1.00 point
58.
Award: 1.00 point
Managerial accountants:
often work with regulators like the SEC.
are responsible for issuing a company’s annual financial statements.
are found primarily at lower levels of the organizational hierarchy.
are found primarily at higher levels of the organizational hierarchy.
often work on cross-functional teams and are located throughout an organization.
Managerial accountants often work on cross-functional teams and are located throughout an
organization.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.
All of the following are common reasons for forming cross-functional teams except:
to make decisions.
to engage in planning exercises.
to address operational problems from many perspectives.
to pull together individuals from a variety of specialties.
to minimize physical location requirements that a company occupies.
Cross-functional teams typically are not formed to minimize physical location requirements.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.
59.
Award: 1.00 point
In a number of companies, managerial accountants are most likely found in cross-functional teams
with personnel having a background in:
commercial art.
real estate.
marketing.
finance.
communications.
Within cross-functional teams, managerial accountants are most often found with finance personnel.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.
60.
Award: 1.00 point
Which of the following typically does not relate to the role of a controller?
A controller supervises the accounting department.
A controller safeguards an organization's assets.
A controller oversees the preparation of reports required by governmental authorities.
A controller normally assumes a narrow role within the organization, often preventing the
individual's rise to top management ranks.
A controller safeguards an organization's assets and a controller normally assumes a
narrow role within the organization, often preventing the individual's rise to top
management ranks.
A controller safeguards an organization's assets and a controller normally assumes a narrow role
within the organization, often preventing the individual's rise to top management ranks both
typically do not relate to the role of a controller.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-06 Describe the
roles of an organization's chief financial
officer (CFO) or controller, treasurer, and
internal auditor.
61.
Award: 1.00 point
62.
Award: 1.00 point
A controller is normally involved with:
preparing financial statements.
managing investments.
raising capital.
safeguarding assets.
managing the firm's credit policy.
A controller is normally involved with preparing financial statements.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-06 Describe the
roles of an organization's chief financial
officer (CFO) or controller, treasurer, and
internal auditor.
Which of the following is not a function of the treasurer?
Safeguarding assets.
Managing investments.
Preparing financial statements.
Being responsible for an entity's credit policy.
Raising capital.
Preparing financial statements is not a typical treasurer’s function.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-06 Describe the
roles of an organization's chief financial
officer (CFO) or controller, treasurer, and
internal auditor.
63.
Award: 1.00 point
64.
Award: 1.00 point
In order for a company to achieve a sustainable competitive advantage, it must:
perform one or more activities in the value chain at the same quality level as its
competitors.
perform all activities in the value chain at the same quality level as its competitors.