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XBRL will be required of both public and private companies. 12) Managerial accounting has

XBRL will be required of both public and private companies. 12) Managerial accounting has

XBRL will be required of both public and private companies.

12) Managerial accounting has its roots in the industrial age of manufacturing.

13) Lean production is both a philosophy and a business strategy of manufacturing without waste.

14) To resolve ethical dilemmas, management accountants should first :

A) consult an attorney regarding legal obligations and rights.

B) discuss the unethical situation with an objective advisor.

C) follow their company's established policies for reporting unethical behaviour.

D) discuss the unethical situation with the immediate supervisor.

15) Sustainability is generally described as the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs.

16) Company initiatives to address sustainability and corporate responsibility not only "do the right thing", but also can lead to economic profits by increasing demand for the company's products and services.

17) SOX allows CA firms to provide which of the following services to existing audit clients, but ONLY if pre-approved by the audit committee?

A) Consulting.

B) Tax

C) Financial information design

D) Bookkeeping

18) SOX requires that the company's financial statements be certified by the company's:

A) CFO.

B) CEO.

C) CFO and CEO.

D) Controller.

19) SOX requires publicly traded companies to have ________ assessed annually.

A) their internal control system

B) their financial Reporting procedures

C) their internal control system and financial Reporting system

D) none of the above

20) The SEC has moved to adopt IFRS for which types of companies?

A) All U.S. companies

B) Only foreign companies operating in the U.S.

C) All U.S. publicly traded companies

D) All U.S. private companies

Tripti 07-Dec-2019

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