美国注册管理会计师CMA考试例题

1. If a firm currently producing 500 units of output incurs total fixed costs of $10,000 and total variable costs of $15,000, the average total cost per unit is

a. $25.
b. $20.
c. $30.
d. $50.

2. Lyman Company has the opportunity to increase annual sales $100,000 by selling to a new, riskier group of customers. The uncollectible expense is expected to be 15%, and collection costs will be 5%. The company's manufacturing and selling expenses are 70% of sales, and its effective rate 40%. If Lyman should accept this opportunity, the company's after-tax profits would increase by
a. $6,000
b. $10,000
c. $10,200
d. $14,400

3. A manufacturing concern sells its sole product for $10 per unit, with a unit contribution margin of $6. The fixed manufacturing cost rate per unit is $2 based on a denominator capacity of 1 million units, and fixed marketing costs are $1.5 million. If 900,000 units are produced, the absorption-costing breakeven point in units sold is

a. 425,000 units.
b. 583,333 units.
c. 900,000 units.
d. 1,000,000 units


4. The principle of substitution states that
a. The firm is indifferent to using either factor of production.
b. Profit maximization is maintained while choosing either factor of production.
c. The firm chooses more of the less expensive factor of production.
d. The firm chooses more of the more expensive factor of production.

5. A firm experiences increasing returns due to
a. The substitution of one factor of production that uses a greater proportion of resources for another factor.
b. Economies of scale.
c. Opportunity costs.
d. Equal costs of the factors of production.

6. Colt Inc. is planning to use retained earnings to finance anticipated capital expenditures. The beta coefficient for Colt’s stock is 1.15, the risk-free rate of interest is 8.5 percent, and the market return is estimated at 12.4 percent. If a new issue of common stock was used in this model, the flotation costs would be 7 percent. By using the Capital Asset Pricing Model equation [R=RF + B(RM-RF)], the cost of using retained earnings to finance the capital expenditures is
a. 13.21 percent.
b. 12.99 percent.
c. 12.40 percent.
d. 14.26 percent.

7. The firm’s technological improvements in the production of a normal good will

a. Shift the supply curve to the right.
b. Not affect either the demand curve or the supply curve.
c. Shift the supply curve the left.
d. Shift the demand curve to the left.

8. If a product is part of the consumers’ basket of goods, and the Consumer Price Index increased seven percent for the year while the
price of this normal good increased three percent, then

a. The supply curve will shift to the left.
b. Neither the demand curve nor the supply curve will be affected.
c. The relative price of the good is equal to other goods.
d. The demand curve will shift to the right.

9. When the demand for a normal good is considered inelastic, then a(n)

a. Decrease in price will increase total revenue.
b. Increase in price will reduce total revenue.
c. Rise or fall in price will affect demand.
d. Decrease in price will reduce total revenue.

10. The following information regarding inventory policy was assembled by the JRJ Corporation. The company uses a 50 - week year in all calculations.

Sales(annual) 10,000 units
Order quantity 2,000 units
Safety stock 1,500 units
Lead time 5 weeks
The reorder point is

a. 3,300 units.
b. 2,500 units.
c. 100 units.
d. 1,300 units.

11. The principal advantage of using commercial paper as a short-term financing instrument is that it

a. Is generally cheaper than a commercial bank loan.
b. Is readily available to almost all companies.
c. Offers security, i.e., collateral, to the lender.
d. Can be purchased without commission costs.

12. Since Marsh Inc. is experiencing a sharp increase in sales activity and a steady increase in production, the management of Marsh has adopted an aggressive working capital policy. Therefore, the company’s current level of net working capital

a.Would most likely be the same as in any other type of business condition as business cycles tend to balance out over time.
b.Would most likely be lower than under other business conditions in order that the company can maximize profits while minimizing working capital investment.
c.Would most likely be higher than under other business conditions so that there will be sufficient funds to replenish assets.
d.Can be financed most economically through the sale of common stock.

13. On January 1, 19x6, Boggs Inc. paid $700,000 for 100,000 shares of Mattly corporation representing 30 percent of Mattly's outstanding common stock. The following computation was made by Boggs.

Purchase price $700,000
30 percent equity in book value
of Mattly's net assets 500,000
Excess cost over book value $200,000
The excess cost over book value was attributed to goodwill and will be amortized over 20 years.
Mattly reported net income for the year ended December 31, 19x6, of $300,000. Mattly Corporation paid cash dividends of $100,000 on July l, 19x6.
If Boggs Inc. exercised significant influence over Mattly corporation and properly accounted for the long-term investment under the equity method, the amount of net investment revenue Boggs should report from its investment in Mattly would be

a. $30,000.
b. $60,000.
c. $80,000.
d. $90,000.

14.Ram Company uses the specific identification method of inventory valuation for internal reporting purposes and the last-in, first-out (LIFO) method for external reporting and tax purposes. The inventory at November 30, 19x1, the end of Ram's fiscal year, was valued at $500,000 using specific identification and $450,000 using LIFO. The preadjusted credit balance in the LIFO reserve account on November 30, 19x1, was $30,000. The adjusting entry required to reflect inventory on the LIFO basis as of November 31, 19x1, would be to

a. Debit inventory for $20,000 and credit LIFO reserve for $20,000.
b. Debit inventory for $20,000 and credit cost of goods sold for $20,000.
c. Debit cost of goods sold for $50,000 and credit LIFO reserve for $50,000.
d. Debit cost of goods sold for $20,000 and credit LIFO reserve for $20,000.

15 The accounting records of The Sarah Boutique contain the following amounts on November 30,19x2, the end of its fiscal year:
Cost Retail
Beginning inventory $ 68,000 $100,000
Purchases 262,000 400,000
Net markups 50,000
Net markdowns 110,000
Sales 360,000
The Sarah Boutique's ending inventory as of November 30, 19x2, computed by the conventional retail method is

a. $80,000.
b. $60,000.
c. $54,400.
d. $48,000.

16. On July 1, 19x7, Sandell Corporation traded in a piece of equipment for a larger model with a fair market price of $500,000. Sandell had purchased the original equipment in 19x5 for $280,000 and recognized depreciation of $120,000 up to the date of the trade. The seller gave Sandell a trade-in-allowance of $180,000 on the original equipment. To record this disposal for book purposes, the accountant should recognize

a. a gain on disposal, with the new unit recorded at $500,000.
b. a loss on disposal, with the new unit recorded at $500,000.
c. a gain on disposal, with the new unit recorded at $500,000.
d. no gain or loss on disposal, with the new unit recorded at book value of the traded unit plus cash paid (or owed).

17. The following is Gold Corp.'s June 30 trial balance:
Cash overdraft $ 10,000
Accounts receivable (net) $ 35,000
Inventory 58,000
Prepaid expenses 12,000
Land held for resale 100,000
Property, plant, and
equipment (net) 95,000
Accounts payable and
accrued expenses 32,000
Common stock 25,000
Additional paid-in capital 150,000
Retained earnings 83,000
$300,000 $300,000
Additional information:
Checks amounting to $30,000 were written to vendors and recorded on June 29, resulting in a cash
overdraft of $10,000. The checks were mailed on July 9.
Land held for resale was sold for cash on July 15.
Gold issued its financial statements on July 31.
In its June 30 balance sheet, what amount should Gold report as current assets?

a. $225,000.
b. $205,000.
c. $195,000.
d. $125,000.

PART-4考试例题:

1、Scenario for Essay Questions
Questions
What actions might the company take to mitigate negative behavioral consequences of tightening standards?

2、Scenario for Essay Questions

Environmental Engineering Research, Inc. (EER) manufactures and installs waste disposal systems for private industry and governmental units. Early in 2004, the company completed a large facility devoted to the research and development (R&D) of new solutions to the waste disposal problems encountered around the world. Besides developing systems for sale, the company is engaged in providing R&D services for several companies under contractual arrangements.
The following expenditures apply to the R&D activities of EER for the fiscal year ended may 31, 2004. The research facility was completed in March 2004 for a total cost of $135 million, and it is being used to conduct all of the company's R&D activities,including R&D under contract for others.Salaries and wages of the employees engaged in R&D at the new facility were $2,485,000.
During August 2003, the company fabricated equipment specifically for use in a project to develop new methods of cleaning up oil spills. The equipment cost $540,000 and is expected to operate for 4 years. The equipment has no alternative use other than this project.
 The city of Cleveland has contracted with EER to design a pilot plant for removing heavy metal waste from river beds. To date, costs of $496,500 have been expended on the project, which is expected to take 2 more years to complete. The total estimated cost to complete this project is $1,342,000.
EER acquired sludge and other waste products for use in testing the effectiveness of various R&D projects. The only costs involved in acquiring this material were transportation costs of $25,000.

Questions
2-1.Statement of Financial Accounting Standards No. 2(SFAS 2), Accounting for Research and Development Costs, requires that all research and development expenditures be expensed in the period incurred.
a. Explain the rationale underlying the expensing requirement.
b. Discuss the criticisms of the expensing requirement.
2-2.Describe how each of the costs described above should be presented on Environmental Engineering Research, Inc.'s financial statements and/or in the footnotes to be in compliance with the requirements of SFAS 2.

3、Scenario for Essay Questions

Sullivan Sport is a distributor of recreational equipment. Sales are made on account with terms of net 30 days from the date of shipment. The number of delinquent accounts and uncollectible accounts has increased during the last twelve months. Customers complain of errors in their accounts. Management believes that the information generated is inadequate and untimely.
The current accounts receivable system was developed when Sullivan began operations in 1983. A new computer was installed 18 months ago. The accounts receivable application was not revised at that time because other applications were considered more important. Management has now asked the Systems Department to design a new accounts receivable system to satisfy these objectives.
 Produce current and timely reports about customers that will Aid in controlling bad debts. Notify the Sales Department of delinquent customer accounts (those which should lose credit privileges).Notify the Sales Department of customers with uncollectible accounts (accounts to be closed and written off).Notify customers on a timely basis regarding Amounts owed to Sullivan. Changes in account status (loss of charge privileges).
Minimize the chance for errors in customers' accounts.
Input data for the system will be taken from four source documents-credit applications, sales invoices, cash payment remittances, and credit memoranda. The accounts receivable master file will be maintained on a machine-readable file by customer account number.
The preliminary design of the new receivables system has been completed by the Systems Department. A desc ription of the proposed reports and other output generated by the system are detailed below.Accounts Receivable Register. A daily alphabetical listing of all customer accounts that shows the balance as of the last statement, activity since the last statement, and the current account balance.
Customer Statements. Monthly statements for each customer showing activity since the last statement and new account balance; the top portion of the statement is to be returned with the payment and serves as the cash payment remittance.
 Activity Reports. Monthly reports that show

a. Customers who have not purchased any merchandise for 90 days.
b. Customers whose account balances exceed their credit limit.
c. Customers who have current sales on account but are delinquent.Delinquency and Write-off Register. A monthly alphabetical listing of delinquent or closed customers' accounts.

Questions
3-1.Identify the data that Sullivan Sport should capture and store in the computer-based accounts receivable file records for each customer.
3-2.a. Review the proposed reports to be generated by Sullivan's new accounts receivable system, and discuss whether these reports are adequate to satisfy the objectives designated by management.
b. Recommend changes, additions, and/or deletions that should be made to the reporting structure to be generated from Sullivan's new system.

4、Scenario for Essay Questions
Questions
Based on specific standards of competence, confidentiality, integrity, or objectivity from "Standards of Ethical Conduct for Management Accountants," why may Gleason Company's use of budgetary slack be unethical?

5.Scenario for Essay Questions
Questions
How will the new standards be "tighter?"


6、Scenario for Essay Questions
Questions
What actions might the company take to mitigate negative behavioral consequences of tightening standards?

7、Scenario for Essay Questions

In the early 1930s, as countries sought to increase employment by raising tariffs, world-wide protectionism reached a new high. Since then, there has been a downward trend in tariffs resulting from many international and regional agreements. In 1947, twenty-three nations signed a General Agreement on Tariffs and Trade (GATT) which has resulted in several rounds of negotiations aimed at reducing trade barriers. Today, over one hundred nations belong to GATT, and these negotiations have been a driving force in the trend toward liberalized trade.
Examples of regional agreements include the 1993 North American Free Trade Agreement joining Canada, Mexico, and the United States as a tariff-free trading zone, and the 1957 Treaty of Rome which was the beginning of the European Community. The European Community, a common market, not only provides for free trade among its members but also facilitates the free movement of labor and capital. Despite these efforts to increase free trade, protectionist sentiments remain strong in both the United States and Europe.
Questions
7-1. Increased tariffs were used in the 1930s in an effort to increase employment. Discuss why this may not be a valid argument for the use of tariffs or other trade barriers.
7-2. In conjunction with the reduction in tariffs and quotas in the 1970s and 1980s, there has been an increase in the use of nontariff barriers to trade. Identify and describe at least two nontariff barriers to international trade.
7-3. Discuss at least five arguments, other than increased employment, that are used to justify protectionism.