Free IMANET FMAA Exam Questions
Absolute Free FMAA Exam Practice for Comprehensive Preparation
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IMANET FMAA Exam Questions
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Provided By: IMANET
- Exam: Financial and Managerial Accounting Associate
- Certification: IMA Certified Associate
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Total Questions: 162
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Updated On: Jan 12, 2026
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Rated: 4.9 |
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Online Users: 324
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Question 1
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A company had sales in its first year of operation of $3,450,800 and $4,576,000 in the second year. Salary expense for the business was $568,920 in year one and $622,310 in year two.What is the annual growth rate in salaries?
Answer: A
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A company had sales in its first year of operation of $3,450,800 and $4,576,000 in the second year. Salary expense for the business was $568,920 in year one and $622,310 in year two.What is the annual growth rate in salaries?
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Question 2
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A corporation utilizes an activity-based costing system for applying costs to its two products, P and Q. In the assembly department, material handling costs vary directly with the number of parts inserted into the product. Machinery is recalibrated and oiled each weekend regardless of the number of parts inserted during the previous week. Both material handling and machinery maintenance costs are charged to the product on the basis of the number of parts inserted. Due to reengineering of the production process for Product P, the number of insertion parts per finished unit has been reduced. How will the redesign of the production process for Product P affect the activity-based cost of Product Q?
Answer: C
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A corporation utilizes an activity-based costing system for applying costs to its two products, P and Q. In the assembly department, material handling costs vary directly with the number of parts inserted into the product. Machinery is recalibrated and oiled each weekend regardless of the number of parts inserted during the previous week. Both material handling and machinery maintenance costs are charged to the product on the basis of the number of parts inserted. Due to reengineering of the production process for Product P, the number of insertion parts per finished unit has been reduced. How will the redesign of the production process for Product P affect the activity-based cost of Product Q?
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Question 3
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A company decided to implement life-cycle costing in order to achieve cost leadership in its industry. An accountant prepared a draft presentation explaining that life-cycle costing covers costs from the production stage to the sales and service stage of the product. After reviewing the draft, her supervisor asked the accountant to include a statement that life-cycle costing
Answer: B
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A company decided to implement life-cycle costing in order to achieve cost leadership in its industry. An accountant prepared a draft presentation explaining that life-cycle costing covers costs from the production stage to the sales and service stage of the product. After reviewing the draft, her supervisor asked the accountant to include a statement that life-cycle costing
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Question 4
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Life-cycle costing
Answer: A
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Life-cycle costing
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Question 5
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Dividends paid to company shareholders would be shown on the statement of cash flows as
Answer: B
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Dividends paid to company shareholders would be shown on the statement of cash flows as