Test Bank for Managerial Accounting 5th Edition by Stacey Whitecotton – Complete Practice Q&A

TestMBankMforMManagerialMAccounting,M5thMEditionMbyMStaceyMWhitecotto
n


AnswersMIncluded
ChapterM01M5 ✅
e
TRUE/FALSEM-MWriteM'T'MifMtheMstatementMisMtrueMandM'F'MifMtheMstatementMisMfalse.
1) FinancialMaccountingMinformationMisMgenerallyMusedMexclusivelyMbyMinternalMpartiesM
suchMasMmanagers.
⊚ true
⊚ false


2) FinancialMaccountingMinformationMisMreportedMforMtheMcompanyMasMaMwhole.
⊚ true
⊚ false


3) ManagersMmustMdirect,Mlead,MandMmotivateMduringMtheMimplementationMfunction.
⊚ true
⊚ false


4) ManagersMofMsmall,MprivateMcorporationsMuseMmanagerialMaccountingMinformation,Mw
hereasMmanagersMofMlarge,MpublicMcorporationsMuseMfinancialMaccountingMinformation.
⊚ true
⊚ false


5) TheMSarbanes-
OxleyMActMofM2002MplacesMfullMresponsibilityMonMtheMboardMofMdirectorsMforMtheMaccuracy
MofMtheMreportingMsystem.

⊚ true
⊚ false


6) TheMSarbanes-
OxleyMActMofM2002MfocusesMonMthreeMfactorsMthatMaffectMtheMaccountingMreportingMen
vironment:Methics,Mfraud,MandMmanagement.
⊚ true
⊚ false


7) AMsustainableMbusinessMisMoneMwithMtheMabilityMtoMmeetMtheMneedsMofMtoda
1

,yMwithoutMsacrificingMtheMabilityMofMfutureMgenerationsMtoMmeetMtheirMownMneeds.




2

, ⊚ true
⊚ false


8) TheMtermM"bigMdata"MrefersMtoMtheMvolume,Mvelocity,MandMveracityMofMdata.
⊚ true
⊚ false


9) PredictiveManalyticsMisMtheMprocessMofMrecommendingMaMcourseMofMactionMbas
edMuponMmeaningfulMpatternsMandMinsightsMfromMcollectedMdata.
⊚ true
⊚ false


10) DescriptiveManalyticsMusesMpatternsMandMinsightsMfromMcollectedMdataMtoMshowM
whatMhasMhappened.
⊚ true
⊚ false


11) AnMopportunityMcostMisMtheMcostMofMnotMdoingMsomething.
⊚ true
⊚ false


12) WhetherMaMcostMisMtreatedMasMdirectMorMindirectMdependsMonMwhetherMtracingMtheMc
ostMisMbothMpossibleMandMpractical.
⊚ true
⊚ false


13) VariableMcostsMareMalwaysMdirectMcosts.
⊚ true
⊚ false


14) FixedMcostsMstayMtheMsame,MonMaMper-unitMbasis,MasMactivityMlevelMchanges.
⊚ true
⊚ false


3

, 15) PrimeMcostsMincludeMdirectMmaterials,MdirectMlabor,MandMmanufacturingMoverhead.
⊚ true
⊚ false


16) AllMmanufacturingMcostsMareMtreatedMasMproductMcosts.
⊚ true
⊚ false


17) AllMmanufacturingMcostsMareMinventoriableMcosts.
⊚ true
⊚ false


18) AMcostMthatMwillMoccurMinMtheMfutureMandMdiffersMbetweenMvariousMalternativ
esMunderMconsiderationMisMaMrelevantMcost.
⊚ true
⊚ false


19) ManagerialMaccountingMinformationMisMmandatedMbyMtheMSECMandMotherMreg
ulatoryMagencies.
⊚ true
⊚ false


20) ManagerialMaccountingMinformationMisMconsideredMproprietaryMinMnature.
⊚ true
⊚ false


21) OpportunityMcostsMoccurMinMbusinessMwhenMresourcesMareMconstrained.
⊚ true
⊚ false




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