Here are few questions ❓ most probably ask in essay section of Us CMA part 1 exam
Budgetary Control
1. What is the primary purpose of a cash budget?
Answer: A cash budget is a detailed budget of cash receipts and cash expenditure incorporating both revenue and capital items.
2. What item would not be included in a cash budget?
Answer: Depreciation of machinery would not be included in a cash budget.
Variance Analysis
1. What is the formula for Sales Volume Variance?
Answer: Sales Volume Variance = (Actual Quantity - Budgeted Quantity) x Standard Price
Responsibility Accounting
1. What is the primary goal of responsibility accounting?
Answer: To hold managers responsible for their departments' performance and costs.
ROI and RI
1. What is Return on Investment (ROI)?
Answer: ROI is a measure of profitability calculated by dividing net income by total assets.
2. What is Residual Income (RI)?
Answer: RI is the excess of net income over the minimum required return on investment.
FCPA and SOX
1. What is the Foreign Corrupt Practices Act (FCPA)?
Answer: The FCPA is a law that prohibits companies from bribing foreign officials.
2. What is the Sarbanes-Oxley Act (SOX)?
Answer: SOX is a law that regulates corporate financial reporting and disclosure.
JIT and MRP
1. What is Just-In-Time (JIT)?
Answer: JIT is a production system where inventory levels are minimized.
2. What is Material Requirements Planning (MRP)?
Answer: MRP is a system used to manage inventory and production planning.
1. What is COSO?
Answer: COSO is a framework for internal control and risk management.
2. What is COBIT?
Answer: COBIT is a framework for IT governance and management.
Impairment Loss
1. What is an impairment loss?
Answer: An impairment loss occurs when the carrying amount of an asset exceeds its recoverable amount.
Data Analytics and Visualization
1. What is data analytics?
Answer: Data analytics is the process of analyzing data to extract insights.
2. What is data visualization?
Answer: Data visualization is the process of presenting data in a graphical format.
Customer Profitability Analysis
1. What is customer profitability analysis?
Answer: Customer profitability analysis is the process of analyzing the profitability of individual customers or customer segments.
Big Data
1. What is big data?
Answer: Big data refers to large and complex datasets that require specialized processing and analysis.
Investment in Associates
1. What is investment in associates?
Answer: Investment in associates refers to investments in companies where the investor has significant influence but not control.
EPS and Diluted EPS
1. What is Earnings Per Share (EPS)?
Answer: EPS is a measure of profitability calculated by dividing net income by the number of outstanding shares.
2. What is diluted EPS?
Answer: Diluted EPS is a measure of profitability that takes into account the potential dilution of shares.
Above is not the exhaustive list.But this gives idea, how examiner ask questions in essay,how much student write answers
Best wishes
Prof Mahaley Head Gmsisuccess Goregaon West Mumbai
Feel Free to ask questions WA 9773464206
