Rock Industries has four divisions.In the quest to develop a more achievable budget for th

o design anew budgeting system.Joyce has changed to a monthly budgeting system by dividing the company’s annual budget by twelve.Joyce then prepared monthly budgets for each department and asked the managers to submit monthly reports comparing actual to budget.A sample monthly report for Department A is shown below.彩虹公司最近任命 Margaret Joyce 为负责财务的副总裁，要求她设计一套新 的预算编制制度。Joyce 做了改变，通过把公司的年度预算除以十二，这样就成了一种按月编制预算的制度。 然后 Joyce 为每个部门编制一份月度预算，并让各部门经理每个月呈上一份实际和预算作对比的报告。下 面是一份 A 部门的月度报表的样本：

This monthly budget has been imposed from the top and will create behavior. problems、All of the following are causes of such problems except 这份月度报告自上而下执行，且会引起一些行为问题（behavior. problems）。下列各项中，哪一项不是引 起这些行为问题的原因所在？

A.the use of a flexible budget rather than a fixed budget.采用的是弹性预算而不是固定预算

B.top management authoritarian attitude toward the budget process.最高管理当局对预算流程的态度

C.the inclusion of noncontrollable costs such as depreciation.包括了一些不可控的成本，比如折旧

D.the lack of consideration for factors such as seasonality.因素考虑不周，比如说季节性因素

When compared to static budgets, flexible budgets 和固定预算相比，弹性预算

A.offer managers a more realistic comparison of budget and actual fixed cost items under their control、为经理人员提供了更加切合实际的可控固定成本的预算和实际比较

B.provide a better understanding of the capacity variances during the period being evaluated.能更 好地理解考核期间的产能差异。

C.encourage managers to use less fixed costs items and more variable cost items that are under their control.鼓励经理人员少耗用固定成本以及多耗用可控变动成本。

D.offer managers a more realistic comparison of budget and actual revenue and cost items under their control.为经理人员提供更加切合实际的可控收入及成本项目的预算和实际的比较.

oal congruence，也有直译作“目标相容”或“目标一致”的。可能有的读者（应试者）只熟悉其中的一种译法，也可能不熟悉 这两种译法的任何一种，所以意译为“各部门的目标与企业总体目标趋于一致”，目的是使任何读者都能懂得在讲些什么。以下用 直译，也用意译表明。在目前对管理学科方面英语词汇译法不统一的情况下，不得已而如此做了。—译者 CMA Exam Retired Questions ? 2008 Institute of Certified Management Accountants 下列哪一项不是参与型预算编制流程的优点？

A.Coordination between departments.部门之间的协调

B.Communication between departments.部门之间的沟通

C.Goal congruence.目标相容（各部门的目标与企业总体目标趋于一致）

D.Control of uncertainties.对不确定性的控制

n.下面是某 家公司编制年度利润计划的步骤顺序： ? Planning guidelines are disseminated downward by top management after receiving input from all levels of management.在汇总各管理层提供的信息后，由最高管理当局编制计划的框架，并向下传 达 ? 1.A sales budget is prepared by individual sales units reflecting the sales targets of the various segments.This provides the basis for departmental production budgets and other related CMA Exam Retired Questions ? 2008 Institute of Certified Management Accountants components by the various operating units.Communication is primarily lateral with some upward communication possible.各销售单位编制销售预算，该预算体现各分部的销售目标。这为各部门的 生产预算提供基础以及为各营运单位提供预算的其它组成部分。沟通以横向为主，向上纵向为辅。 ? A profit plan is submitted to top management for coordination and review.Top management's recommendations and revisions are acted upon by middle management.A revised profit plan is resubmitted for further review to top management.利润计划呈送最高管理当局进行协调和审查。最 高管理当局的建议和修改，由中级管理层据以执行。经中级管理层修订后的利润计划，重新提交最 高管理当局作进一步审查 ? Top management grants final approval and distributes the formal plan downward to the various operating units.最高管理当局最终通过后，把正式的计划下达给各营运单位 This outline of steps best describes which one of the following approaches to budget development?以上对各步骤的概述和下列哪一项预算编制方法最为契合？

A.Imposed budgeting by top management.通过高级管理层强制执行

B.Bottom-up approach.自下而上

C.Top-down approach.自上而下

D.Total justification of all activities by operating units.由各营运单位定夺各项业务的总体合理性

列哪一项不是对传统预算编制流程的批评？

A.makes across-the-board cuts when early budget iterations show that planned expenses are too high.当之前的反复预算讨论显示出计划支出过高时,对其做全面削减

B.incorporates non-financial measures as well as financial measures into its output.预算的结果中揉 合了财务指标和非财务指标

C.overemphasizes a fixed time horizon such as one year.过分强调一个固定时间范围，比如一年

D.is not used until the end of the budget period to evaluate performance.直到预算期结束之后, 传统 预算才被用来考评业绩.

eting, except that it 和参与型预算编制相比，自上而下的编制预算有它的优势。下列哪一项不属于其优势之列？

A.increases coordination of divisional objectives.增加各分部之间的目标的协调性

B.reduces the time required for budgeting.减少预算编制时间

C.may limit the acceptance of proposed goals and objectives.可能限制被提议的目标的接受程度

D.facilitates implementation of strategic plans.战略计划更易贯彻执行

xcept that budgets 下列哪一项不是在管理控制制度中采用预算的优点所在？

A.force management planning.敦促管理层编制计划

B.provide performance criteria.提供业绩考核的标准

C.promote communication and coordination within the organization.在组织内部促进沟通和加强协调

D.limit unauthorized expenditures.限制未经授权审批的费用开支

投资 $500,000 前三年经营活动现金流流入 第一年 185,000 第二年 175,000 第三年 152,000 使用直线折旧法，预期使用年限为8年，净残值为$50,000。在预测税后现金流量时，Regis公司应该考虑税后经营的现金流

A.只流入。

B.流入加年折旧费用。

C.流入加年折旧税收抵扣。

D.流入加年折旧费用和年折旧税盾的净影响。

rage rate of return） ? 回收期（payback） ? 净现值（net present value） 以下选项中，哪一项正确地辨别出使用了现金流量贴现（DCF）方法？ 内部报酬率 平均报酬率 回收期 净现值

A.是 是 否 否

B.否 否 是 是

C.是 否 是 否

D.是 否 否 是

求的投资回报率为9%。如果项目净现值（NPV）为$3,000，那么该项目的初始投资额为多少？

A.$11,253.

B.$13,236.

C.$26,160.

D.$29,160.