Which of the following is a responsibility of a managerial accountant:

Conducting a cost analysis and explain findings to mgmt

What is the relationship between shareholders and the board of directors?

The board of directors represents the shareholders.

What is a common course of action for small banks interested in competing globally?

Following global regulations more closely

Which factors affect a business's decision to offer credit to a customer?

Income, debt ratio, and credit rating

Whichof the following statements is true of quality control:

It must be measured in some way to be effective.

What is a benefit of managing budgeting data efficiently through budgeting applications?

Increases management's confidence in budgets

Employees who are involved in production scheduling are responsible for...

estimating how long each step in production will take.

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DECA FINANCE Practice

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25 Questions based on the DECA Finance Cluster Exam.

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Questions 22

Answers

1
Which of the following is a responsibility of a managerial accountant:
Conducting a cost analysis and explain findings to mgmt
Making managerial decisions on planning, pricing, and sales
Training employees and mgmt. on personal financial literacy
Compiling the company's financial info for public release
2
What is the relationship between shareholders and the board of directors?
The shareholders make decisions for the board of directors.
The shareholders pay dividends to the board of directors.
The board of directors holds the shareholders accountable.
The board of directors represents the shareholders.
3
A country is experiencing civil unrest. What is likely to happen to the value of its currency?
It will increase.
It will stabilize.
It will decrease.
It will not be affected.
4
What is a common course of action for small banks interested in competing globally?
Consolidating with larger banks
Following global regulations more closely
Rapidly expanding their operations
Dissolving their financial holding companies
5
What do bond yields typically do during an economic expansion?
Remain unchanged
Increase
Gradually decrease
Drop to near zero
6
Accountants are required by law to have information presented in financial documents...
subjective and consistent.
clear and consistent.
irrational and clear.
transparent and subjective.
7
If a company is managing its information effectively, the data should be accurate and...
anonymous.
positive.
encrypted.
relevant.
8
Jones is removing redundant data from his company database. What action is he performing?
information scanning.
data filtering.
data normalization.
digital analysis.
9
Which factors affect a business's decision to offer credit to a customer?
Debt ratio, education, and objectives
Debt ratio, credit rating, and education
Income, debt ratio, and credit rating
Credit rating, objectives, and income
10
Whichof the following statements is true of quality control:
It consists mostly of common sense procedures.
It doesn't require much planning to implement.
It must be measured in some way to be effective.
It's necessary only for large businesses.
11
Which of the following are characteristics of a well-written executive summary:
Concise, informal, and error free
Clear, concise, and error free
Creative, concise, and informal
Error free, simple, and creative
12
The section of the SEC website that houses companies' filings is called...
EDWIN
EDMUND
EDWARD
EDGAR
13
What is a benefit of managing budgeting data efficiently through budgeting applications?
Decreases the need for having an audit trail
Decreases auditors' ability to trace the #s used in budgets
Increases amt. of time spent on value-added activities
Increases management's confidence in budgets
14
An increase in free-flowing capital is a benefit of...
investor innovation.
financial globalization.
economic conservatism.
global protectionism.
15
The two basic types of business risk are...
incompetence and carelessness.
theft and death.
pure and speculative.
fires and floods.
16
Good governance is most likely to make a company's investment decisions...
less regulated.
subject to individuals' influence.
more ethical.
more vulnerable to outside risk.
17
Stockholders monitor a business's income statement because they are the business's...
owners.
customers.
employees.
managers.
18
Writing a letter to your grandmother is an example of...
verbal communication.
nonverbal communication.
speech.
body language.
19
Who reviews and approves guidelines for a corporation aka corporate governance policies?
The shareholders
The management team
The board of directors
The investors
20
One way a company can reinforce its image is by...
training its employees.
identifying economic resources.
developing a financial plan.
conducting a competitive analysis.
21
Which of the following characteristics tends to have a close relationship with initiative:
Rudeness
Truthfulness
Industriousness
Insecurity
22
Employees who are involved in production scheduling are responsible for...
estimating how long each step in production will take.
issuing orders for production activities to begin.
obtaining the resources needed in production.
establishing the path inputs take through production.

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