Complete the mcq:
1) An understanding of total-life-cycle costs can lead to:
A) additional costs during the manufacturing cycle.
B) less need for the evaluation of opportunity costs.
C) cost effective product designs that are easier to service.
D) mutually beneficial relationships between buyers and sellers.
2) The stage of the research development and engineering cycle in which the technical aspects of products and services are developed is the:
A) service phase.
B) market research stage.
C) product development stage.
D) product design stage.
3) Traditional costing begins with:
A) the research development and engineering cycle.
B) marketing research.
C) target costing.
D) product specification.
4) Relevant costs for target costing include:
A) variable manufacturing costs.
B) variable manufacturing and variable nonmanufacturing costs.
C) all fixed costs.
D) all future costs, both variable and fixed.
5) Which BEST describes the control function in a management accounting and control system?
A) MACS seeks out areas that are out-of-control but not for corrective action.
B) MACS achieves cost reduction targets that are continually adjusted downward.
C) MACS guides and motivates employees to achieve organizational objectives.
D) MACS ensures performance standard goals are being met.
6) The five stages in the process of keeping an organization in control are:
A) planning, implementing, measuring, evaluating and correcting.
B) planning, executing, monitoring, evaluating and correcting.
C) budgeting, implementing, monitoring, evaluation and feedback.
D) budgeting, executing, measuring, feedback and evaluation.
7) The evaluation phase of the process of control in MACS focuses on:
A) comparing the planned level to current performance to identify discrepancies and consider corrective measures.
B) measuring the current level of performance.
C) returning the system to an in control state.
D) selecting measures to determine how well objectives are met.
8) Which BEST describes the purpose of a management accounting and control system (MACS)?
A) A MACS defines the value chain and identifies nonvalue-added activities for a business.
B) A MACS helps decision makers determine whether strategies and objectives are being met.
C) A MACS offers a system of controls to ensure employees are meeting predetermined standards.
D) A MACS provides a signal for management attention when areas are out-of-control.
9) Behavioral considerations of a well-designed management accounting and control system include all of the following EXCEPT:
A) short-term qualitative and quantitative measures.
B) incentive compensation.
C) information accuracy.
D) the organization's ethical code of conduct.
10) The two major categories of technical considerations for a management accounting and control system are:
A) design and accuracy of information.
B) relevance of information and scope of system.
C) service and timely information.
D) development and flexibility.
11) When implementing a new management accounting and control system, it is BEST:
A) to allow management to implement their ideas.
B) for management to involve employees in the implementation.
C) to involve consultants and implement their experienced ideas.
D) to engage in benchmarking.
12) In a management accounting and control system design, behavioral expectations are BEST incorporated by:
A) using a mix of short-term and quantitative performance measures.
B) developing a task-related control system.
C) including the organization's code of conduct.
D) monitoring behavior with time and motion studies.
13) Assumptions of the human resources model of motivation include all of the following EXCEPT:
A) employees prefer to follow highly-detailed, prescribed procedures.
B) individuals are motivated by both financial and nonfinancial awards.
C) employees are knowledgeable about their jobs.
D) individuals are highly creative, ethical, and responsible.
14)) The contemporary management view of motivation, the ________ is based on initiatives to improve the quality of working life.
A) balanced scorecard
B) human resources model of motivation
C) scientific management school
D) results control system
15) To promote ethical decision making:
A) consequences of unethical behavior should be left undefined to allow for flexibility.
B) a statement of the organization's code of ethics should be communicated to each employee.
C) violators of the code of ethics should be allowed several warnings before severe consequences are imposed.
D) management should be excused from adhering to the organization's ethical code of conduct when it conflicts with personal values.
16) The elements of an effective ethical control system include all of the following EXCEPT:
A) a statement of the employee's ethical responsibilities.
B) an ongoing internal audit of the efficiency of the organization's ethical control system.
C) a statement of the organization's values and code of ethics.
D) a reward system for tur