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ACCT Exam With Correct Questions And Answers 2024
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ACCT Exam With Correct Questions And Answers 2024
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ACCT Exam Wit h Correct Questions AndAnswers 2024
Planning - Correct Answer-involves setting goals and objectives for the company and determining how to achieve them
Directing - Correct Answer-means overseeing the company's day-to-day operations.
Managerial accounting differs from financial accounting in that managerial accounting
A. tends to report on the company as a whole rather than segments of the company.
B. emphasizes data relevance over data objectivity.
C. is used primarily by external decision makers.
D. is required by Generally Accepted Accounting Principles (GAAP). - Correct Answer-
B. emphasizes data relevance over data objectivity.
Which of the following corporate positions is responsible for general financial accounting, managerial accounting, and tax reporting?
A.Controller
B. Treasurer
C. Internal audit
D. Chief operating officer (COO) - Correct Answer-A. Controller
Which of the following management responsibilities often involves evaluating the results
of operations against the budget?
A. Planning
B. Directing
C. Controlling
D. None of the above - Correct Answer-C. Controlling
Of the following skills, which are needed by today's management accountants? A. Strategic thinking
B. Cost management
C. Decision analysis
D. All of the above - Correct Answer-D. All of the above
Which of the following organizations is the professional association specifically for management accountants?
A. FASB
B. AICPA
C. IMA
D. IFRS - Correct Answer-C. IMA
Which of the following professional standards requires management accountants to continually develop their knowledge and skills?
A. Competence
B. Confidentiality
C. Integrity
D. Credibility - Correct Answer-A. Competence
Which of the following professional standards requires management accountants to not disclose private information about their organizations?
A. Competence
B. Confidentiality
C. Integrity
D. Credibility - Correct Answer-B. Confidentiality
Which of the following requires the company's CEO and CFO to assume responsibility for the company's financial statements and disclosures?
A. Sarbanes-Oxley Act of 2002 (SOX)
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