Exit demo CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS CMA Part 1: Financial Planning - Performance and Analytics PDF format · free preview

In this set

Single choice 100

Lab simulation 12

Free demo preview

10 sample questions

Full product includes 112 questions.

Purchase the full set to unlock every question in your account.

PDF & Online Q&As

PDF + online access Study in your browser or print a clean PDF copy.

Answer key included Check your choices while you study.

Reviewed content Question sets are maintained for exam prep use.

15 years online A long-standing team focused on exam Q&A products.

IMA CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS - Questions & Answers

Free preview · every answer includes a full explanation

Product page: https://prepkeys.com/cma-financial-planning-performance-and-analytics.html

Question 1

Single choice

What is the best type of accounting system control to help prevent improper manipulation of data and to ensure the continued, satisfactory use of the hardware and software-

Processing controls such as limiting access

Output controls such as a maximum check

input controls such as a limit check

Throughput controls such as a hash total

Question 2

Single choice

Which of the following represents a significant deficiency m the design of controls-

Failure to follow up and correct previously identified internal control deficiencies

Inadequate controls over access to computer systems, data and files

Evidence of misrepresentation by accounting personnel

Management overrides of the accounting for transactions

Question 3

Single choice

A building materials retailer uses a LIFO method of valuing its inventory. The company has just introduced a new product. The following is the activity for the first month of this new product.

1. Purchase of 3,000 units on the 2nd of the month at $5.00.
2. Purchase of 6,000 units on the 12th of the month at $4.80.
3. Purchase of 2,000 units on the 31st of the month at $5 60.
4. Sales of the product were 4,000 units on the 20th of the month.

Using the periodic method, the ending value of the inventory would be ______

$34,200.

$35,000.

$35,200.

$35, 800.

Question 4

Single choice

Harris Company sells two products with the following characteristics.

Harris Company's total sales-mix variance for the year is ______

$300,000 Unfavorable

$350,000 unfavorable

$375,000 Unfavorable

$725,000 Favorable

Question 5

Single choice

in order for the IT manager in cnarge of a company's disaster recovery plan to have complete planning documentation, he should ensure that the documentation includes all of the following except ______

the results of the latest disaster recovery test run

the phone numbers of key employees

vendors who win set up the hot site

program and operating system documentation

Question 6

Single choice

A company announced a stock dividend under which 1.000.000 shares will be issued to the holders of the 10.000.000 shares that are currently outstanding.
The stock which has a par value of $1 per share, traded at $10 on the dividend declaration date. How will shareholders' equity be affected by this stock dividend-

Retained earnings will decrease by $1.000.000

Retained earnings will decrease by $9.000.000

Paid-in capital will increase by $9,000.000

Common stock will increase by $10.000.000

Question 7

Single choice

A manufacturing company is considering implementing activity-based costing. Which one of the following statements is a valid consideration when making this change-

Activity-based costing systems may not replace traditional costing systems used for prepar.ng external financial statements.

Companies that make diverse products are least likely to benefit from activity based costing

An activity-based costing system is more costly to maintain than a traditional costing system

In an activity-based costing system, all costs including idle capacity costs, are allocated to products, customers and other costing objects

Question 8

Single choice

Sullivan Company's static Budget for the past year is shown below.

Sullivan actually sow 11.000.000 units throughout the year which was a quantity within its relevant range.
The flexible budget net income that should be used to compare to actual results is ______

$4,200,000.00

$7,500,000.00

$6,580,000.00

$11,500,000.00

Question 9

Single choice

Mauer Company's master budget for next year indicates the following

$40,500,000

$39,950,000

$37.950,000

$30,000,000

Question 10

Single choice

A company has developed a core competency in data mining. Which one of the following best describes this core competency-

Ability to derive valid information from large databases using statistical techniques

Expertise in extracting data from large volumes of unstructured text using query tools

SQL mastery for structuring data as a oasis for applying data analytics

Ability to develop recommendations for action based on the analysts of large data sets

Showing 10 of 112 questions · Unlock the full set