Answer multiple choice questions

47. Organisational core competencies can include: A mission statement a. b. Favourable economic conditions in the external environment A code of conduct An innovative product design c. d. LO 1 50. Which of the following is an element of an operating plan? a. Developing an organisational mission b. Preparing financial statements c. Defining core values d. Outlining specific performance objectives LO 1 51. Types of decisions that managers make include all of the following except: a. Choosing which products to sell b. Designing performance evaluation systems c. Setting tax rates d. Hiring employees LO 1 52. The term cost accounting is: The precursor to management accounting Commonly used to refer to financial accounting. Encompasses both financial and management reporting The same as budgeting a. b. c. d. LO 2 54. Which of the following is a type of intermal report produced by an organisation's information system? a. News release b. Analysis of potential acquisition c. Credit report d. Tax return LO 2 61. The routine measuring, monitoring and feedback processes to managers relating to operations is: a. part of the management accounting system's role b. not required in organisations with only one product c. required for long term strategic decision making d. an organisational core competency LO 2