,TEST BANK
Principles of Cost Accounting,
17th Edition By Edward J. Vander beck
Chapters 1 - 10, Complete
Cengage Learning Testing, Powered by Cognero Page 1
,Contents
1. Ch. 1: Introduction to Cost Accounting
2. Ch. 2: Accounting for Materials
3. Ch. 3: Accounting for Labor
4. Ch. 4: Accounting for Factory Overhead
5. Ch. 5: Process Cost Accounting-General Procedures
6. Ch. 6: Process Cost Accounting-Additional Procedures; Accounting for Joint Products and By-Products
7. Ch. 7: The Master Budget and Flexible Budgeting
8. Ch. 8: Standard Cost Accounting-Materials, Labor, and Factory Overhead
9. Ch. 9: Cost Accounting for Service Businesses, the Balanced Scorecard, and Quality Costs
10. Ch. 10: Cost Analysis for Management Decision Making
Cengage Learning Testing, Powered by Cognero Page 2
, The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilitiesis
a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Not-for-profit service agency.
ANSWER: a
RATIONALE: The business entity that converts purchased raw materials into finished goods by using labor,
technology, and facilities is a manufacturer.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
ACCREDITING STAN AACSB Analytic
DARDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
2. The business entity that purchases finished goods for resale is a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is a merchandiser.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
ACCREDITING STANDA AACSB Analytic
RDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to the
consumer is a:
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service business.
ANSWER: c
RATIONALE: A wholesaler purchases goods from the producer and sells them to the retailer.
POINTS: 1
DIFFICULTY: Easy
Cengage Learning Testing, Powered by Cognero Page 3
Principles of Cost Accounting,
17th Edition By Edward J. Vander beck
Chapters 1 - 10, Complete
Cengage Learning Testing, Powered by Cognero Page 1
,Contents
1. Ch. 1: Introduction to Cost Accounting
2. Ch. 2: Accounting for Materials
3. Ch. 3: Accounting for Labor
4. Ch. 4: Accounting for Factory Overhead
5. Ch. 5: Process Cost Accounting-General Procedures
6. Ch. 6: Process Cost Accounting-Additional Procedures; Accounting for Joint Products and By-Products
7. Ch. 7: The Master Budget and Flexible Budgeting
8. Ch. 8: Standard Cost Accounting-Materials, Labor, and Factory Overhead
9. Ch. 9: Cost Accounting for Service Businesses, the Balanced Scorecard, and Quality Costs
10. Ch. 10: Cost Analysis for Management Decision Making
Cengage Learning Testing, Powered by Cognero Page 2
, The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilitiesis
a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Not-for-profit service agency.
ANSWER: a
RATIONALE: The business entity that converts purchased raw materials into finished goods by using labor,
technology, and facilities is a manufacturer.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
ACCREDITING STAN AACSB Analytic
DARDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
2. The business entity that purchases finished goods for resale is a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is a merchandiser.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
ACCREDITING STANDA AACSB Analytic
RDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to the
consumer is a:
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service business.
ANSWER: c
RATIONALE: A wholesaler purchases goods from the producer and sells them to the retailer.
POINTS: 1
DIFFICULTY: Easy
Cengage Learning Testing, Powered by Cognero Page 3
