1. Which of the following statements is true?
a. Management accounting is guided by IFRS or Canadian ASPE.
b. Management accounting information is mainly for external users.
c. Management accounting is future oriented.
d. Management accounting information is mainly quantitative.

2. Which of the following statements is not true?
a. Unavoidable cost is relevant in decision making.
b. Avoidable cost is relevant in decision making.
c. Additional investment is relevant in decision making.
d. Cost saving is relevant in decision making.

3. Which of the following is not one of the components of ethical decision making?
a. Identify ethical problems as they arise.
b. Objectively consider the well-being of others and society when exploring alternatives.
c. Clarify and apply ethical values, and choose a course of action that avoids the exposure of wrongdoing.
d. Work toward ongoing improvement of personal and organizational ethics.

4. Which of the following statements is not true?
a. Monitoring and motivating are part of an implementation function.
b. Budgeting is a part of a control function.
c. Performance measure is a part of a control function.
d. Budget is a quantitative expression of a plan.

5. Which of the following characteristics is not true of high-quality information?
a. Timely
b. Relevant
c. Complete
d. Circumventing