1.

Management Accounting
A. Is governed by generally accepted accounting principles.
B. Draws from disciplines other than accounting
C. Is geared primarily to the past rather than future.
D. Places more emphasis on precision of data compared with financial accounting which does not
place more emphasis on accuracy of information.

2. Management accounting is an integral part of the management process. As such, it provides essential
information for the following objectives except
A. Maintaining the current level of resources utilization as well as internal and external
communication.
B. Measuring and evaluating performances.
C. Planning strategies and controlling current activities of the organization.
D. Enhancing objectivity in decision-making.

3. The chief management accountant called “controller” traditionally performs these functions except
A. The establishment and implementation of the financial planning process.
B. Financial and management reporting and interpretation.
C. Protection of company resources and economic evaluation.
D. Relate to specific problems where expert help is required.

6. Management accountants help design, develop, install and maintain reporting systems which are
aligned with the structures of the organization. These systems provide information that are useful
for decision making. Management decision processes fall into three categories.
A. Repetitive, non programmed and strategic
B. Repetitive, programmed and strategic
C. Repetitive, non programmed and nonstrategic
D. Non repetitive, non programmed and strategic

7. In this element of internal control, the object is to gauge the efficiency of the various levels of people
in the organization as well as the quality and quantity of results.
A. Records and reports
B. Standards and performance.
C. Internal audit
D. Policies and procedures.

12. You are newly appointed as controller of ABC Corporation. Among the jobs your department would
do, include the following:
A. Cash receipts, cash disbursement, general accounting, taxation, financial statements analysis
and internal auditing.
B. Financial reporting, strategic planning, managerial accounting, taxation, financial
statement analysis and internal accounting.