Reference no: EM132590722

Question 1: An organisation's ________ identifies the organisation's purpose objective, its output/market scope and the way it conducts its operations; the output/market scope includes customer groups served, customer functions and technologies used.

Option 1: strategy

Option 2: code of ethics

Option 3: mission statement

Question 2: Which of the following is a 'mixed cost'?

Option 1: Direct materials

Option 2: Manager's salary

Option 3: Monthly rent payment

Option 4: Monthly telephone bill

Question 3: For which of the following reasons explains why companies have recently been able to reduce inventory levels?

Option 1: There is better sharing of information between suppliers and manufacturers

Option 2: Just-in-time production strategies are being implemented

Option 3: Production quotas are being implemented

Option 4: Both A and B are correct.

Question 4: Which of the following descriptors refers best to management accounting information?

Option 1: It is verifiable and reliable.

Option 2: It is prepared for shareholders.

Option 3: It is driven by rules.

Option 4: It provides reasonable and timely estimates.