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17 Cards in this Set
- Front
- Back
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Which of the following statements is true?
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Production managers find managerial accounting information useful.
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Customers in today's competitive marketplace demand information about:
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Product availability, order status, delivery times
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Which of the following definitions is correct?
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Information that is shared and leveraged such that is creates value is the foundation of knowledge.
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Data and knowledge warehouses are examples of:
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Knowledge management tools
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Which of the following statements regarding ERP systems is not true?
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a. ERP systems provide real-time information to decision makers throughout a company.
B. The ultimate goal of the ERP system is to reduce production costs. c. ERP systems are costly to implement. d. The benefits of ERP are not limited to manufactoring companies. |
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Which of the following statements about EDI is not true.
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A. EDI increases lead times and reduces processing costs.
b. The internet has made EDI technology available to a wide range of small and medium size businesses. c. EDI increases the speed and quality of information exchange. d. EDI and e-business vie the internet allow suppliers and customers to be brought into an ERP network so that online orders from customers initiate a series of highly integrated transactions. |
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Managerial accounting information is:
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Used extensively by internal managers for decision-making purposes
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Operational planning most commonly addresses:
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the current quarter's production requirements
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The________ function is primarily responsible for managing the financial resources of the organization.
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Finance
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Advances in accounting information systems and other changes in the past decade have caused managerial accountants to view their roles as including:
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the interpretation of information, creation of useful information for other managers, facilities of management decision-making processes
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What is the correct order of steps in the decision making process?
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define the problem, identify objectives, identify and analyze available options, select the best option
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Relevant costs:
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Include those costs that are avoidable when one alternative is chosen rather than another.
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Opportunity costs:
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Include all past and present costs regardless of their nature.
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Most decisions involve risk. Which of the following is true with respect to considering risk in a decision making context?
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C. Risks should be evaluated and their impact on decision alternatives carefully weighed before final decisions are made.
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Which of the following statements about ethics is true?
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B. Ethical issues frequently arise in decision making contexts.
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Which of the following are reasons for the increased need for enterprise risk management?
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stakeholder demands and compliance with applicable laws and regulations
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Effective enterprise risk management requires companies to do all of the following except:
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a. consider their risk appetite
B. focus on individual silos of risk c. consider the portfolio of overall business risks d. identify and measure risks |
