IMA CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS Online Practice Questions and Exam Preparation

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

• Question 101:

  A company has prepared the following pro forma income statements. It plans to sell 10,000 units in the current year and 11.500 units next year.

  

  A. Increase sales revenue by 15%.
  B. Reduce cost of goods sold by $1.00 per unit
  C. Increase gross profit margin by 15%
  D. Reduce operating expenses by $1.00 per unit
  B. Reduce cost of goods sold by $1.00 per unit

• Question 102:

  Product liability is best classified as an example of ______

  A. prevention costs
  B. appraisal costs
  C. internal failure costs
  D. external failure costs
  D. external failure costs

• Question 103:

  Which one of the following statements describes now Section 302 of the Sarbanes-Oxley Act impacts a company's Internal control environment-

  A. Greater external scrutiny results because a new auditor must be appointed annually
  B. The board s financial expertise improves because a financial expert is appointed
  C. Executives are more supportive since they certify their responsibility for the system
  D. The auditor is more independent because non-audit services are prohibited
  C. Executives are more supportive since they certify their responsibility for the system

• Question 104:

  Comprehensive income is best defined as ______

  A. total revenues minus total expenses
  B. net income excluding realized gams and losses
  C. the change In net assets for the period excluding owner transactions
  D. the change in net assets for the period including contributions from owners and distributions to owners
  C. the change In net assets for the period excluding owner transactions

• Question 105:

  The type of data anarytics mat seeks to identify the best action to take in oraer to achieve a desired result is ______

  A. directive analytics
  B. prescriptive analytics
  C. diagnostic analytics
  D. predictive analytics
  B. prescriptive analytics

• Question 106:

  when considering data visualization elements, the incorporation or color, shape, size, or animation can be used to address ______

  A. multiple variables
  B. complexity
  C. data distortion
  D. data myopia
  A. multiple variables

• Question 107:

  The amount of the loss on the impairment of an intangible asset equals the ______

  A. expected future net cash flows
  B. difference between the fair value and the expected future net cash flows
  C. difference between the carrying amount and the fair value
  D. carrying amount and the expected future cash flows
  C. difference between the carrying amount and the fair value

• Question 108:

  Which one of the following is the least important for a successful budget process-

  A. Top management support
  B. Integrated budget software
  C. The level of participation in the budget process
  D. The degree of alignment between the budget and other performance goals
  B. Integrated budget software

• Question 109:

  in times of declining prices using the Last-in First-Out (LIFO) cost flow assumption rather than the First-in, First-Out (FIFO) assumption will yield ______

  A. higher assets and higher income
  B. higher assets and lower Income
  C. lower assets and higher income
  D. lower assets and lower income
  A. higher assets and higher income

• Question 110:

  Throughout June. Carroll Company purchased 75,000 pounds of raw materials at a cost of $303,750 and used 60 000 pounds of these purchases in production Carroll's standards indicated that each unit of finished goods requires three pounds of material at a cost of $4 per pound Although Carroll had budgeted for 22,000 units of finished goods to be produced during June, only 19,800 units were actually made. The raw material price variance for June that would be most relevant when examining deviations from standard is ____

  A. $2,970 Unfavorable
  B. $3,000 Unfavorable
  C. $3,300 Unfavorable
  D. $3,750 Unfavorable
  D. $3,750 Unfavorable