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Managerial Accounting The Cornerstone of Business Decision Making 9th Edition by Maryanne M.
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Mowen, Don R. Hansen, Dan L. Heitger Copyright 2026
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Chapter 1-14 ma




Ch01 - Introduction to Managerial Accounting
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True / False
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1. The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to a
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s
decision making. ma



a. True
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b. False
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ANSWER: False
RATIONALE: The managerial activity of monitoring a plan's implementation and taking corrective action as
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needed is referred to as controlling. ma ma ma ma ma




POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
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LEARNING OBJECTIVES: MANG.MOWE.9e.26.01-01 - Explain the meaning of managerial accounting.
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NATIONAL STANDARDS: United States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-26 - Management Functions ma ma ma ma ma ma ma ma ma



United States - AK - AICPA: FN-Decision Modeling ma ma ma ma ma ma ma



United States - AK - IMA: Decision Analysis ma ma ma ma ma ma ma




KEYWORDS: Bloom's: Remember ma




2. The process of choosing
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a. True
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b. False
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ANSWER: True
RATIONALE: The process of choosing among competing alternatives is called decision making.
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POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: ma True / False
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LEARNING OBJECTIVES: ma m a MANG.MOWE.9e.26.01-01 - Explain the meaning of managerial accounting. ma ma ma ma ma ma ma




NATIONAL STANDARDS: ma m a United States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-26 - Management Functions
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United States - AK - AICPA: FN-Decision Modeling
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United States - AK - IMA: Decision Analysis
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KEYWORDS: Bloom's: Remember ma




3. Managerial accounting information is not important for not-for-profit organizations.
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a. True
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b. False
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ANSWER: False
RATIONALE: Managerial accounting information is important for all types of organizations. ma ma ma ma ma ma ma ma ma




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POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: ma True / False
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LEARNING OBJECTIVES:
ma m aMANG.MOWE.9e.26.01-01 - Explain the meaning of managerial accounting. ma ma ma ma ma ma ma




NATIONAL STANDARDS:
ma m a United States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-25 - Managerial Characteristics/Terminology
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United States - AK - AICPA: FN-Reporting
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United States - AK - IMA: Cost Management
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KEYWORDS: Bloom's: Understand
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4. Management accounting information is used only by manufacturing organizations.
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a. True
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b. False
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ANSWER: False
RATIONALE: Management accounting information is used by all manufacturing, merchandising, and
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service organizations. ma




POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: ma True / False ma ma




LEARNING OBJECTIVES: MANG.MOWE.9e.26.01-01 - Explain the meaning of managerial accounting.
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NATIONAL STANDARDS: United States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-25 - Managerial Characteristics/Terminology
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United States - AK - AICPA: FN-Reporting
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United States - AK - IMA: Cost Management
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KEYWORDS: Bloom's: Understand ma




5. Managerial accounting is designed primarily for internal users.
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a. True
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b. False
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ANSWER: True
RATIONALE: Managerial accounting is the provision of accounting information for a company’s internal
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users.
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: ma True / False ma ma




LEARNING OBJECTIVES: MANG.MOWE.9e.26.01-01 - Explain the meaning of managerial accounting.
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NATIONAL STANDARDS: United States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-25 - Managerial Characteristics/Terminology
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United States - AK - AICPA: FN-Reporting
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United States - AK - IMA: Cost Management
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KEYWORDS: Bloom's: Understand ma




6. Managerial accounting emphasizes the future.
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a. True
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b. False
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ANSWER: True
RATIONALE: Although managerial accounting records and reports events that have already occurred, it
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strongly emphasizes providing information about future events. ma ma ma ma ma ma




POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
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LEARNING OBJECTIVES: MANG.MOWE.9e.26.01-02 - Explain the differences between managerial accounting and
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financial accounting. ma




NATIONAL STANDARDS: United States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-25 - Managerial Characteristics/Terminology ma ma ma ma ma ma ma ma ma



United States - AK - AICPA: FN-Reporting ma ma ma ma ma ma



United States - AK - IMA: Cost Management ma ma ma ma ma ma ma




KEYWORDS: Bloom's: Understand ma




7. GAAP governs financial accounting.
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a. True
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b. False
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ANSWER: True
RATIONALE: Financial accounting is subject to externally imposed rules (e.g., GAAP and SEC ma ma ma ma ma ma ma ma ma ma ma



regulations).
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
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LEARNING OBJECTIVES: MANG.MOWE.9e.26.01-02 - Explain the differences between managerial accounting and
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financial accounting. ma




NATIONAL STANDARDS: United States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-02-GAAP ma ma ma ma ma ma



United States - AK - AICPA: FN-Reporting ma ma ma ma ma ma



United States - AK - IMA: Reporting ma ma ma ma ma ma




KEYWORDS: Bloom's: Remember ma




8. The value chain is the set of activities required to design, develop, produce, market, and deliver products and services
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to
customers.
a. True
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b. False
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ANSWER: True
RATIONALE: The value chain is the set of activities required to design, develop, produce, market, an
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d
POINTS: deliver
1 products and services, as well as provide support services to customers.
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DIFFICULTY: Easy
QUESTION TYPE: True / False
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LEARNING OBJECTIVES: MANG.MOWE.9e.26.01-03 -
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Explain the STANDARDS:
NATIONAL
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ma accounting.
States - BUSPROG: Analytic
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STATE STANDARDS:
ma United States - AK - ACBSP: APC-25 - Managerial Characteristics/Terminology ma ma ma ma ma ma ma ma ma



United States - AK - AICPA: BB-Resource Management ma ma ma ma ma ma ma



United States - AK - IMA: Strategic Planning ma ma ma ma ma ma ma




KEYWORDS: Bloom's: Remember ma




9. Time is not a crucial element in all phases of the value chain
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.
a. True
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