1. What is the split-off point? a. A process that yields multiple outputs from a common resource input. b. A method that uses a physical measure such as pounds, gallons, yards, or units of volume produced at the split-off point to allocate the joint costs to joint products. c. The point in a joint production process where products are separately identifiable. d. The point in cost allocation that managers decide to split costs.

2. Management Accountants contribute to the capital budgeting process by performing:

a. Linkage of capital investment projects to the organization's Balanced Scorecard (BSC). b. Conducting post-audits of capital investment decisions. c. Generation of relevant cash flow data for investment-analysis purposes. d. Performing sensitivity or "what-if" analysis of proposed capital investments. e. All of the above.

3. Management accountants should promote an ethical culture in the workplace. The IMA code of ethics that apply to the management accountants responsibility to avoid actual or apparent conflicts of interest relate to the standard of a. Competence b. Confidentiality c. Integrity d. Credibility

4. Organizations that gather large sets of data to support decision making need to ensure that data is reliable. Which statement below best describes data governance? a. Data governance is data management. b. Data governance is maintaining, using, archiving, retrieving, and purging of data. c. Data governance ensures that each user in the organization has a separate database to access data that limits access to specific individuals. d. Data governance provides policies and procedures about data compliance.

5. All of the following capital budgeting models incorporate the time value of money except: a. The payback method. b. The modified internal rate of return (MIRR) method. c. The net present value (NPV) method. d. The internal rate of return (IRR) method.