Free IMA CMA-Financial-Planning-Performance-and-Analytics Exam Dumps Questions & Answers

Stone Ltd manufactures socket wrenches .The company produced 400 000 wrenches and sold 350,000 this year. The following information pertains to the costs accumulated in Stone's inventory.

What is the difference between Stones operating income under absorption costing and variable costings

• A.$28,000 lower using variable costing
• B.$19,750 lower using variable costing
• C.$36.500 higher using absorption costing
• D.$16,750 higher using absorption costing.

A building materials retailer uses a LIFO method of valuing its inventory. The company has just introduced a new product. The following is the activity for the first month of this new product.
* Purchase of 3,000 units on the 2nd of the month at $5.00.
* Purchase of 6,000 units on the 12th of the month at $4.80.
* Purchase of 2,000 units on the 31st of the month at $5 60.
* Sales of the product were 4,000 units on the 20th of the month.
Using the periodic method, the ending value of the inventory would be

• A.$35, 800.
• B.$34,200.
• C.$35,200.
• D.$35,000.

Comprehensive income is best defined as

• A.the change in net assets for the period including contributions from owners and distributions to owners
• B.total revenues minus total expenses
• C.net income excluding realized gams and losses
• D.the change In net assets for the period excluding owner transactions

Which one of the following statements best describes data governance?

• A.The union of data quality, data management, data policies, and risk management
• B.A process of securing all company data points, both structured and unstructured
• C.The convergence of accounting data, finance data and information technology
• D.Performance of data-based audits on a continuous basis

Aeronautics Inc. has designed a new airplane that entails an extremely complex manufacturing process Upon reviewing the market Aeronautics' management believes the price of the plane will need to be set below current manufacturing costs. Some on the management team have recommended stopping the project, however, the CFO believes that the plane will become profitable in the near future. The CFO most likely used which forecasting method?

• A.Time series.
• B.Cost-volume-profit analysis
• C.Exponential smoothing
• D.Learning curve analysis