Chapter 1—Introduction to Cost Management
LEARNING OBJECTIVES
LO 1 What are the relationships among financial, management, and cost accounting?
LO 2 What are two common organizational strategies?
LO 3 What is a value chain, and what are the major value chain functions?
LO 4 How is a balanced scorecard used to implement an organization’s strategy?
LO 5 Why must accountants understand an organization’s structure to perform effectively
in that organization?
LO 6 What are the sources of ethical standards for cost accountants?
LO 7 What are the sources of authoritative pronouncements for the practice of cost
accounting?
QUESTION GRID
True/False
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
1 X x
2 X x
3 X x
4 X x
5 X x
6 X x
7 X x
8 X x
, 9 X x
10 X x
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21 x x
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25 x x
26 x x
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28 x x
29 x x
30 x x
31 x x
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
32 X x
33 X x
, 34 X x
35 X X
36 X X
Completion
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
1 X x
2 X x
3 X x
4 x x
5 x x
6 x x
7 x x
8 X x
9 X x
10 X x
11 X x
12 X x
13 X x
14 X X
Multiple Choice
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
1 X x
2 X x
3 X x
4 X x
, 5 X x
6 X x
7 x x
8 X x
9 X x
10 x x
11 X x
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13 X x
14 x x
15 X x
16 x x
17 x x
18 X x
19 X x
20 X x
21 X x
22 X x
23 X x
24 X x
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
25 X X
26 x X
27 x X
28 X x
29 X x
LEARNING OBJECTIVES
LO 1 What are the relationships among financial, management, and cost accounting?
LO 2 What are two common organizational strategies?
LO 3 What is a value chain, and what are the major value chain functions?
LO 4 How is a balanced scorecard used to implement an organization’s strategy?
LO 5 Why must accountants understand an organization’s structure to perform effectively
in that organization?
LO 6 What are the sources of ethical standards for cost accountants?
LO 7 What are the sources of authoritative pronouncements for the practice of cost
accounting?
QUESTION GRID
True/False
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
1 X x
2 X x
3 X x
4 X x
5 X x
6 X x
7 X x
8 X x
, 9 X x
10 X x
11 X x
12 X x
13 X x
14 X x
15 X x
16 x x
17 x x
18 x x
19 x x
20 x x
21 x x
22 x x
23 x x
24 x x
25 x x
26 x x
27 x x
28 x x
29 x x
30 x x
31 x x
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
32 X x
33 X x
, 34 X x
35 X X
36 X X
Completion
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
1 X x
2 X x
3 X x
4 x x
5 x x
6 x x
7 x x
8 X x
9 X x
10 X x
11 X x
12 X x
13 X x
14 X X
Multiple Choice
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
1 X x
2 X x
3 X x
4 X x
, 5 X x
6 X x
7 x x
8 X x
9 X x
10 x x
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12 X x
13 X x
14 x x
15 X x
16 x x
17 x x
18 X x
19 X x
20 X x
21 X x
22 X x
23 X x
24 X x
Difficulty Level Learning Objectives
Easy Moderate Difficult LO 1 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7
25 X X
26 x X
27 x X
28 X x
29 X x
