Chapter 1 The Accountant\'s Role in the Organization A) focuses on estimating fu

Question

Chapter 1 The Accountant's Role in the Organization A) focuses on estimating future revenues, costs, and other measures to forecast activities and their results B) provides information about the company as a whole C) reports information that has occurred in the past that is verifiable and reliable D) provides information that is generally available only on a quarterly or annual basis 2. Which item is NOT a guideline used by management accountants to assist in strategic and operational decision making? A) cost-benefit approach B) behavioral and technical considerations C) different costs for different purposes D) balanced scorecard 3. The act of simply measuring and reporting information: A) focuses the attention of employees on those processes B) diverts employee's attention to other activities C) disproves the saying "What gets measured gets managed." D) has no effect on employee behavior 4. The primary criterion when faced with a resource allocation decision is: A) cost minimization B) reduction in the amount of time required to perform a particular job C) achievement of organizational goals D) how well the alternative options help achieve organizational goals in relation to the costs incur for these systems 5. Discuss the potential behavior implications of performance evaluation. 6. includes banking and short- and long-term financing, investments, and cash management. A) Risk management B) Internal audit C) Controllership D) Treasury

Explanation / Answer

1. Management accounting ( option a) focus on estimating future revenue cost and other measures activities and there results as it focus on formation of budget.

2. Option d balance scorecard as it focus on external data accounting is useless.

3.option a it focus the attention of those employees on those process as the act of reporting will led to responsibility on employees therefore they will focus .

4.option d how well the alternative options help achieve organisational goals as resources are scarce and everyone want to maximize profits and fulfill organisational goals.

5. The behaviour of both individual and group both will be affected if performance evaluation is made. People will focus on the variable on which measurements will be based and will ignore the others.

6. Option d treasury include banking and short and long term financing investment and cash management.

7. False they should provide advice it will help in building a good relation.

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