Scribd
Upload
73 views1 page

Midterm Exam: Questions: Score

The document is a midterm exam for an accounting course covering management accounting. It contains 10 multiple choice questions testing concepts like the definition of management accounting, aspects of managerial accounting similar to financial accounting, ethical standards for management accountants, processes included in management accounting, factors that determine if management accounting is successful, definitions of non-value added activities and cost drivers, descriptions of product costs, examples of manufacturing costs, the formula for computing total costs, and the definition and functions of a controller.

Uploaded by

Liza Magat Matadling
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
73 views1 page

Midterm Exam: Questions: Score

The document is a midterm exam for an accounting course covering management accounting. It contains 10 multiple choice questions testing concepts like the definition of management accounting, aspects of managerial accounting similar to financial accounting, ethical standards for management accountants, processes included in management accounting, factors that determine if management accounting is successful, definitions of non-value added activities and cost drivers, descriptions of product costs, examples of manufacturing costs, the formula for computing total costs, and the definition and functions of a controller.

Uploaded by

Liza Magat Matadling
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

MIDTERM EXAM

SUBJECT CODE: ACCTG. 412 Date:


Description: (Management Accounting ) Time:
QUESTIONS: SCORE:
1. What is a field of accounting that provides financial information & non- 10%
financial information to an organization’s managers and other internal
decision makers?

2. From what aspect of managerial accounting similar to financial accounting 10%

3. What is the provision of ethical standards for management accountants 10%


forbid management accountants to act on, or even appear to act on,
confidential information they acquire in doing their work, except when
authorized or when legally obligated to do so?

4. Management accounting includes the following processes except : 10%


(CHOOSE YOUR RIGHT ANSWER)

a) measurement c) interpretation
B) communication d) delegation

5. Management Accounting is considered successful when it 10%

a) is relevant c) helps managers improve their decision


b) is accurate d) is in accordance with GAAP

6. It is an activity that causes resources to be consumed is called what? 10%

a) non-value added activity


b) cost driver
c) just-in- time activity
d) extra-curricular activity

7. Choose below what product costs best describe? 10%

a) are always expensed in the same period in which they are incurred
b) are inventoriable costs
c) very directly with changes in the cost driver
d) are always charged to an asset account in the same period in which they
are incurred

8. Manufacturing costs do not include what?


(SELECT YOUR CORRECT ANSWER) 10%
a) Prime costs
b) Conversion costs
c) Indirect materials
d) Salary of the company president, under whom is the vice president for
production
9. Give the formula on how to compute Totals Costs? 10%

10. Define Controller and enumerate its seven functions? 10%

TOTAL SCORE 100 %

You might also like