Vendor: IMANET
Certifications: IMANET Certifications
Exam Name: Certified Management Accountant (CMA)
Exam Code: IMANET-CMA
Total Questions: 1336 Q&As
Last Updated: Mar 26, 2023
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IMANET-CMA Online Practice Questions and Answers
Policies and procedures provide guidance to management and employees. Would policies and procedures normally be found for the senior management of a multinational organization?
A. Yes, all policies and procedures are developed by senior management.
B. No, senior management develops policies and procedures for lower levels only.
C. Yes, policies and procedures are used throughout an organization's ranks.
D. No, only middle managers and below develop and use policies and procedures.
The following data pertain to the Rees Company for the year just ended:
What was Rees Company's residual income?
A.$0
B. $8,000
C. $20,000
D. $60,000
A corporation is currently experiencing cash-flow problems and has determined that it is in need of short-term credit. It can either use its trade credit on $100,000 of accounts payable with terms of 1/10, net 30 or a 30-day note with a 20% annual simple interest rate. Which is the best alternative, and what is its effective rate of interest (rounded to a whole percentage and using a 360-day year)?
A. The trade credit. Its effective rate is 10%.
B. The trade credit. Its effective rate is 20%.
C. The note. Its effective rate is 17%
D. The note. Its effective rate is 20%.
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