Managerial Accounting
5th Edition
ST
UV
TEST BANK
IA
_A
Stacey M. Whitecotton
PP
Robert Libby
Fred Phillips
RO
────────────────────────────────────────────────────
Comprehensive Test Bank for Instructors
VE
and Students
D
© Stacey M. Whitecotton, Robert Libby & Fred Phillips.
?
All rights reserved. Reproduction or distribution without permission is prohibited.
© BooksbyMed
, Managerial Accounting – 5th Edition
(ISBN 9781265317515)
Stacey M. Whitecotton, Robert Libby, and Fred Phillips
TABLE OF CONTENTS
Chapter 1. Introduction to Managerial Accounting
ST
Chapter 2. Job Order Costing
Chapter 3. Process Costing
Chapter 4. Activity-Based Costing and Cost Management
UV
Chapter 5. Cost Behavior
Chapter 6. Cost-Volume-Profit Analysis
Chapter 7. Incremental Analysis for Short-Term Decision Making
IA
Chapter 8. Budgetary Planning
Chapter 9. Standard Costing and Variance Analysis
Chapter 10. Decentralized Performance Evaluation
_A
Chapter 11. Capital Budgeting
Chapter 12. Statement of Cash Flows
Chapter 13. Measuring and Evaluating Financial Performance
PP
RO
VE
D ?
© BooksbyMed
,Student name:__________
1) Financial accounting information is generally used exclusively by internal parties such as
managers.
⊚ true
⊚ false
ST
2) Financial accounting information is reported for the company as a whole.
⊚ true
⊚ false
UV
3) Managers must direct, lead, and motivate during the implementation function.
⊚ true
IA
⊚ false
4) Managers of small, private corporations use managerial accounting information, whereas
_A
managers of large, public corporations use financial accounting information.
⊚ true
⊚ false
PP
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the
accuracy of the reporting system.
RO
⊚ true
⊚ false
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting
VE
environment: ethics, fraud, and management.
⊚ true
⊚ false
D?
Version 1 1
, 7) A sustainable business is one with the ability to meet the needs of today without sacrificing
the ability of future generations to meet their own needs.
⊚ true
⊚ false
8) The term "big data" refers to the volume, velocity, and veracity of data.
ST
⊚ true
⊚ false
UV
9) Predictive analytics is the process of recommending a course of action based upon
meaningful patterns and insights from collected data.
⊚ true
⊚ false
IA
10) Descriptive analytics uses patterns and insights from collected data to show what has
_A
happened.
⊚ true
⊚ false
PP
11) An opportunity cost is the cost of not doing something.
⊚ true
⊚ false
RO
12) Whether a cost is treated as direct or indirect depends on whether tracing the cost is both
possible and practical.
VE
⊚ true
⊚ false
D?
13) Variable costs are always direct costs.
⊚ true
⊚ false
Version 1 2
5th Edition
ST
UV
TEST BANK
IA
_A
Stacey M. Whitecotton
PP
Robert Libby
Fred Phillips
RO
────────────────────────────────────────────────────
Comprehensive Test Bank for Instructors
VE
and Students
D
© Stacey M. Whitecotton, Robert Libby & Fred Phillips.
?
All rights reserved. Reproduction or distribution without permission is prohibited.
© BooksbyMed
, Managerial Accounting – 5th Edition
(ISBN 9781265317515)
Stacey M. Whitecotton, Robert Libby, and Fred Phillips
TABLE OF CONTENTS
Chapter 1. Introduction to Managerial Accounting
ST
Chapter 2. Job Order Costing
Chapter 3. Process Costing
Chapter 4. Activity-Based Costing and Cost Management
UV
Chapter 5. Cost Behavior
Chapter 6. Cost-Volume-Profit Analysis
Chapter 7. Incremental Analysis for Short-Term Decision Making
IA
Chapter 8. Budgetary Planning
Chapter 9. Standard Costing and Variance Analysis
Chapter 10. Decentralized Performance Evaluation
_A
Chapter 11. Capital Budgeting
Chapter 12. Statement of Cash Flows
Chapter 13. Measuring and Evaluating Financial Performance
PP
RO
VE
D ?
© BooksbyMed
,Student name:__________
1) Financial accounting information is generally used exclusively by internal parties such as
managers.
⊚ true
⊚ false
ST
2) Financial accounting information is reported for the company as a whole.
⊚ true
⊚ false
UV
3) Managers must direct, lead, and motivate during the implementation function.
⊚ true
IA
⊚ false
4) Managers of small, private corporations use managerial accounting information, whereas
_A
managers of large, public corporations use financial accounting information.
⊚ true
⊚ false
PP
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the
accuracy of the reporting system.
RO
⊚ true
⊚ false
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting
VE
environment: ethics, fraud, and management.
⊚ true
⊚ false
D?
Version 1 1
, 7) A sustainable business is one with the ability to meet the needs of today without sacrificing
the ability of future generations to meet their own needs.
⊚ true
⊚ false
8) The term "big data" refers to the volume, velocity, and veracity of data.
ST
⊚ true
⊚ false
UV
9) Predictive analytics is the process of recommending a course of action based upon
meaningful patterns and insights from collected data.
⊚ true
⊚ false
IA
10) Descriptive analytics uses patterns and insights from collected data to show what has
_A
happened.
⊚ true
⊚ false
PP
11) An opportunity cost is the cost of not doing something.
⊚ true
⊚ false
RO
12) Whether a cost is treated as direct or indirect depends on whether tracing the cost is both
possible and practical.
VE
⊚ true
⊚ false
D?
13) Variable costs are always direct costs.
⊚ true
⊚ false
Version 1 2
