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

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

Question 3

A company had 100.000 shares of common stock issued and outstanding at January 1. During the year, thecompany took the following actions: CMA-Financial-Planning-Performance-and-Analytics-page55-image8

Options :

A : $50.000

B : $75,000.

C : $100,000.

D : $150,000

Answer: C

Question 4

Which one of the following activities is not a pan of the data mining process?

Options :

A : Applying statistical techniques to derive information from large sets of data

B : Using artificial intelligence to identify patterns in large data sets

C : Generating recommendations based on insights derived from large databases

D : Creating valid and useful information from large data sets using statistical methods

Answer: C

Question 5

Collins Corporation manufactures its products in a highly automated, just-in-time environment and uses a standard cost system. The variance that would cause the least concern would be a

Options :

A : 6% unfavorable fixed overhead volume variance caused by work stoppages because of missing parts

B : 9% unfavorable material price variance caused by changing to a supplier that would support the company-s just-in-time needs.

C : 30% unfavorable direct labor efficiency variance caused by idle time while waiting for goods to be received from a previous manufacturing department

D : 12% unfavorable variable overhead spending variance caused by keeping equipment running during times when there is no production activity

Answer: B

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