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1. Cost management information systems provide information: a. b. c. d. For preparing the planning and controlling measures of an organization. To prepare statements of cash flows and balance sheets for external users. That can be used for regulatory measures. For stewardship evaluation. 2. Which of the following decreases the non-value added time of producing a product and in turn increases the quality of the product? a. Increasing movements of subassemblies b. Adding processes in production c. Redesigning products d. Increasing time spent on delivery of products 3. High quality cost management systems should have an organization-wide perspective. Which of the following would NOT be a benefit of a cost management system? a. Increases speed by ignoring non-financial information b. Reduces duplicate data storage and use of data c. Improves timeliness of reports d. Increases the efficiency of generating reliable and accurate information is concerned with determining what activities should be performed and assessing how well they are performed. a. The financial accounting system b. The value chain c. Operational control d. Traditional costing 5. Which of the following statements is true about traceability? a. It uses well-specified economic events as inputs, and its processes follow certain rules and conventions. b. It is used for investment decisions, stewardship evaluation, activity monitoring, and regulatory measures. c. It is the ability to assign a cost directly to a cost object in an economically feasible way by means of a causal relationship. d. It is concerned with determining what activities should be performed by managers and assessing how well they are performed. 6. In a traditional cost management system, cost behavior is assumed to be driven only by a. Unit based cost drivers. b. Non-unit level cost drivers. C. Activity-based cost drivers. d. None of these. When the volume of activity increases within the relevant range, the fixed cost per unit a. Decreases at first, then increases. b. Remains the same. c. Decreases. d. Increases