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MS CHAP 2 QUIZ

Authored by Audie Palpal-latoc

Financial Education

12th Grade

Used 2+ times

MS CHAP 2 QUIZ
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is another name for Management Accounting?

Managerial Accounting

Tax Accounting

Cost Accounting

Financial Accounting

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a function of Management Accounting?

Planning

Directing and Motivating

Selling and Marketing

Controlling

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main responsibility of the Controller in an organization?

Customer Service

Human Resources Management

Financial Reporting

Tax Administration

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of providing assistance to management in profit planning/budgeting?

To increase costs

To minimize expenses

To decrease revenue

To maximize profit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a principle governing the design of Management Accounting systems?

Supporting performance monitoring

Ignoring relevant laws

Encouraging unethical behavior

Avoiding decision-making authority

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the responsibility of Management Accountants regarding confidentiality?

Disclose all information to the public

Keep information confidential except when legally required

Use confidential information for personal gain

Share confidential information with competitors

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should management accountants do when faced with significant ethical issues?

Take legal action immediately

Ignore the issues

Keep the issues to themselves

Discuss with an impartial advisor

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