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Chartered Institute of Management Accountants Cima P1 http://www.cimadumps.us/p1-management-accounting
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How CIMA Benefit Your Business • Communication – knowing what information management needs and explaining the numbers to non-financial managers. • Planning – using accounting techniques to plan and budget. • Risk - The application of analytical skills to observe business processes end end a pair identify and manage risks. • Strategy – Using the insight from analysis to help formulate business strategy to create wealth and shareholder value. • Analysis - Understanding the history behind numbers and use it to make business decisions http://www.cimadumps.us/p1-management-accounting
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Question No 1: • Which phrase best describes the current role of the managerial accountant ? • A. Managerial accountants facilitate the decision-making process within an organization. • B. Managerial accountants prepare the financial statements for an organization. • C. Managerial accountants make the key decisions within an organization. D. Managerial accountants are primarily information collectors. • D. Managerial Accountants are solely staff advisors in an organization. • E. Managerial accountants are primarily information collectors. • Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From • http://www.cimadumps.us/p1-management-accounting
Question No 2: • An example of qualitative data is ? • A. Net income • B. Product cost • C. Customer satisfaction • D. Net worth • E. Inventory cost Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From http://www.cimadumps.us/p1-management-accounting
Question No 3: • Product and service costing information is prepared for? • A. Manufacturing companies without inventory. • B. Manufacturing companies with inventory. • C. Service providers. • D. Merchandising companies. • E. Each of the other four answers. Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From http://www.cimadumps.us/p1-management-accounting
Question No 4: • Manufacturing costs typically consist of? • A. Direct materials direct labor and administrative costs. • B. Direct materials direct labor and manufacturing overhead. • C. Production and shipping costs. • D. Direct materials direct labor marketing and administrative costs. • E. Production and marketing costs. • Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From • http://www.cimadumps.us/p1-management-accounting
Question No 5: • In comparison to the traditional manufacturing environment overhead costs in a JIT environment all the following are true except: • A. Labour need not be tracked to the product. • B. Are more easily tracked to products. • C. Are frequently direct in nature. • D. Most of the costs are likely to be indirect in nature. • E. Include rent insurance and utilities. • Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From • http://www.cimadumps.us/p1-management-accounting
Question No 6: • As production increases within the relevant range • A. Variable costs will vary in total. • B. Fixed costs will vary in total. • C. Variable costs will vary on a per unit basis. • D. None of the other four answers is true. • E. Fixed and variable cost stay the same in total. • Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From • http://www.cimadumps.us/p1-management-accounting
Question No 7: • You are given the cost and volume information below: Volume Cost 1 unit 15 10 units 150 100 units 1500 What type of a cost is given? • A. Rent cost • B. Fixed cost • C. Variable cost • D. Mixed cost • E. Step cost • Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From • http://www.cimadumps.us/p1-management-accounting
Question No 8: • Which of the following statements regarding graphs of fixed and variable costs is true • A. Variable costs can be represented by a straight line where costs are the same for each data point. • B. Fixed and Variable costs are curvilinear form above zero on the “Y” axis. • C. Variable costs are zero when production is equal to zero. • D. Fixed costs can be represented by a straight line starting at the origin and continuing through each data point. • E. Fixed costs are zero when production is equal to zero. D. Variable costs are zero when production is equal to zero. • Pass Management Accounting Certified Professional Exam By The Help Of Cimadumps.us Get Complete File From • http://www.cimadumps.us/p1-management-accounting
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