Managerial Accounting Analytics Quiz Chapter 1

(LO 1.3) Which component of the AMPS model addresses the question of the best way for management accountants to communicate their analyses with decision-makers?

• Ask the question

• Master the data

• Perform the analysis

• Share the story

(LO 1.5) Which of the following is considered discretionary information for a company’s accountants to provide?

• The break-even level of a new product

• The annual report submitted to shareholders detailing financial performance

• The federal tax return

• Sales information as part of the sales tax return

(LO 1.1) Which of the following value chain activities is considered to be a primary activity?

• Procurement

• Inbound logistics

• Human resources management

• Information technology

(LO 1.2) What requires context to create information?

• Knowledge

• Data

• Facts

• Data stores

(LO 1.4) The analysis of variances (e.g., actual performance is different from budgeted performance) is most often associated with which type of analytics?

• Descriptive analytics

• Diagnostic analytics

• Predictive analytics

• Prescriptive analytics

(LO 1.4) Summary statistics are most often associated with which type of analytics?

• Descriptive analytics

• Diagnostic analytics

• Predictive analytics

• Prescriptive analytics

(LO 1.4) Time series analysis is most often associated with which type of analytics?

• Descriptive analytics

• Diagnostic analytics

• Predictive analytics

• Prescriptive analytics

Which of the following is not one of the four overarching ethical principles mentioned in the 2017 IMA Statement of Ethical Professional Practice?

• Competence

• Honesty

• Confidentiality

• Credibility

Which questions aim to more clearly understand why net income is decreasing when revenues are increasing?

• What happened? What is happening?

• Why did it happen? What are the root causes of past results?

• Will it happen in the future? What is the probability something will happen? Is it forecastable?

• What should we do based on what we expect will happen? How do we optimize our performance based on potential constraints?

What type of visualization is used to track overtime labor on a continuous, real-time basis?

• Dashboard with static display

• Dashboard with dynamic display

• Conditional formatting

• Bar chart for the past 10 months