Test Bank for Management Accounting 5th Edition by Leslie G. Eldenburg, Albie Brooks, Gillian Vesty & Nicolas – Practice Questions, Cost Accounting Concepts, Study Guide & Exam Preparation

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Testbank
to accompany

Management accounting

5th edition
by
Eldenburg et al.




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Chapter 1: The role of accounting information in management decision
making


True/false questions


1. A vision statement is a theoretical description of what an organisation should become.

*a. True
b. False

Correct answer: a
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation


2. An organisational vision is a short-term plan for maximising financial results.

a. True
*b. False

Correct answer: b
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation


3. Most organisations have one stakeholder.

a. True
*b. False

Correct answer: b
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation


4. Organisational core competencies unrelated to the organisational vision.

a. True
*b. False

Correct answer: b
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation



1.2

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5. Organisational strategies are the tactics that managers use to take advantage of core
competencies while working towards the organisational vision.

*a. True
b. False

Correct answer: a
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation


6. Most organisations have databases that contain information collected formally or
informally from internal sources only.

a. True
*b. False

Correct answer: b
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation


7. Desirable employee behaviour can be motivated by tying employee performance
evaluation and pay to long-term or short-term results.

*a. True
b. False

Correct answer: a
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation


8. Organisational information systems only collect accounting information.

a. True
*b. False

Correct answer: b
Learning objective 1.2 ~ Discuss the role of cost and management accounting information
in management decision making




1.3

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edition
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pawsey chapter.pdfhttps://online2pdf.com/remove-pdf-heade

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9. Cost accounting information is used for both management accounting and financial
accounting activities.

*a. True
b. False

Correct answer: a
Learning objective 1.2 ~ Discuss the role of cost and management accounting information
in management decision making


10. Management accounting is the process of gathering, summarising and reporting
financial and non-financial information used internally to make decisions.

*a. True
b. False

Correct answer: a
Learning objective 1.2 ~ Discuss the role of cost and management accounting information
in management decision making


11. Intellectual capital is a type of financial resource that is captured by the organisation’s
information system.

a. True
*b. False

Correct answer: b
Learning objective 1.2 ~ Discuss the role of cost and management accounting information
in management decision making


12. It is easy to differentiate between internal and external reports.

a. True
*b. False

Correct answer: b
Learning objective 1.2 ~ Discuss the role of cost and management accounting information
in management decision making




1.4

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