system.
True
False
References
True / False Difficulty: Medium Learning Objective: 01-04 Explain the
nature and importance of ethics for
accountants.
35.
Award: 10.00 points
36.
Award: 10.00 points
Emphasis on the future is given equal weight by both managerial accounting and financial accounting.
True
False
References
True / False Difficulty: Easy Learning Objective: 01-02 Identify the
major differences and similarities between
financial and managerial accounting.
Managerial accounting plays a critical role in providing information to management to facilitate strategy
implementation and monitoring.
True
False
References
True / False Difficulty: Easy Learning Objective: 01-01 Describe the
functions performed by managers.
37.
Award: 10.00 points
38.
Award: 10.00 points
Thorough testing of a product before launching in the mass market is a risk reduction strategy.
True
False
References
True / False Difficulty: Medium Learning Objective: 01-03 Explain the basic
concept of enterprise risk management.
A customer value proposition is essentially a reason for customers to choose a company's products
over its competitors' products.
True
False
References
True / False Difficulty: Medium Learning Objective: 01-01 Describe the
functions performed by managers.
39.
Award: 10.00 points
40.
Award: 10.00 points
Customer value propositions tend to fall into three broad categories--customer intimacy, operational
excellence, and product leadership.
True
False
References
True / False Difficulty: Easy Learning Objective: 01-01 Describe the
functions performed by managers.
Companies that adopt a customer intimacy strategy are in essence saying to their target customers,
"The reason you should choose us is because we understand and respond to your individual needs
better than our competitors."
True
False
References
True / False Difficulty: Easy Learning Objective: 01-01 Describe the
functions performed by managers.
41.
Award: 10.00 points
42.
Award: 10.00 points
Companies that choose an operational excellence strategy are in essence saying to their customers,
"Choose us rather than our competitors because we strive for zero defects."
True
False
References
True / False Difficulty: Medium Learning Objective: 01-01 Describe the
functions performed by managers.
Many organizations use extrinsic incentives to highlight important goals and to motivate employees to
achieve them.
True
False
References
True / False Difficulty: Medium Learning Objective: 01-06 Explain how
intrinsic motivation, extrinsic incentives,
and cognitive biases affect employee
behaviour.
43.
Award: 10.00 points
44.
Award: 10.00 points
Paying a bonus for exceeding the sales target is an example of extrinsic incentive.
True
False
References
True / False Difficulty: Medium Learning Objective: 01-06 Explain how
intrinsic motivation, extrinsic incentives,
and cognitive biases affect employee
behaviour.
Managerial accounting is not mandatory.
True
False
References
True / False Difficulty: Easy Learning Objective: 01-02 Identify the
major differences and similarities between
financial and managerial accounting.
45.
Award: 10.00 points
46.
Award: 10.00 points
Many customers seek to purchase products and services from socially responsible companies.
True
False
References
True / False Difficulty: Easy Learning Objective: 01-05 Explain the
elements of corporate social responsibility.
Professional organizations like CPA Canada can punish companies if they violate the code of ethics.
True
False
Professional organizations can punish its members not the companies.
References
True / False Difficulty: Medium Learning Objective: 01-04 Explain the
nature and importance of ethics for
accountants.
47.
Award: 10.00 points
Compare financial and managerial accounting with respect to the following:
a. Audience
b. Format and data presentation
c. Data accuracy and precision
a. Financial Accounting Reports to those outside the organization: Owners Creditors Tax Authorities
Regulators while Managerial Accounting Reports to those inside the organization for: Planning Directing