Question 1

Which one of the following statements best defines datagovernance?

Options :

A : Procedures implemented by the board of directors to manage data.

B : A framework used to oversee the availability, usability and integrity of data

C : The company-s framework for supervising and managing the IT function

D : The corporate records retention policy setting out the contents of the system data records

Answer: C

Question 2

All of the following are limitations of teaming curve analysis except that

Options :

A : the learning rate tends to be affected by seasonality in sales

B : the estimated learning rate might be unreliable because other factors could have caused the change

C : the learning rate is assumed to be constant

D : it is appropriate only for labor-intensive repetitive tasks

Answer: A

Question 3

Which one of the following items is included in accumulated other comprehensive income?

Options :

A : Gains and losses on the sale of equipment

B : Effect of a change in accounting method

C : Realized gains on available-for-sale securities

D : Foreign currency translation adjustments

Answer: D

Question 4

Faxton and Rexford are competitor in the same industry Faxton utilizes an incentive program mat focuses

solely on net income Rexford uses customer service and employee development in addition to net income in

its incentive program. Over time. Faxton can be expected to

Options :

A : have higher sales growth than Rexford due to management s strong focus

B : be less likely to misstate earnings due to the importance of earnings to management

C : be more profitable than Rexford initially Put lose this advantage

D : consistently be more profitable than Rexford due to not funding training programs

Answer: B

Question 5

Which oneof the following best describes the difference between a normal costing system and an actual costing system?

Options :

A : Direct labor cost is estimated using a predetermined rate under a normal costing system, while it is the actual value under an actual costing system.

B : Direct material cost is estimated using a predetermined rate under a normal costing system while it is the actual value under an actual costing system

C : Factory overhead cost is estimated using a predetermined rate under a normal costing system,while it is me actual value under an actual costing system.

D : Both direct labor cost and direct material cost are estimated using a predetermined rate under a normal costing system, while they are the actual value under an actual costing system

Answer: C

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