BUS 215 Quiz 1 || Correctly Solved!!
Which of the following concepts are considered one of the three pillars of managerial
accounting? correct answers decision making
true or false: managerial accounting reports does not need to follow generally accepted
accounting principals (GAAP)? correct answers True
The process used by a company to identify risks and develop responses to those risks that
enable a company to be reasonably assured of meetings its goals is known as: correct answers
enterprise risk management
The focal point of a company's strategy should be: correct answers its target customers
The customer value proposition that focuses on delivering products and services faster, more
conveniently, and at a lower price is known as: correct answers operational excellence
A company's corporate social responsibility is a concept whereby organizations consider the
needs of all stakeholders when making decisions. Which of the following are not considered
a stakeholder when considering a company's corporate social responsibility? correct answers
competitors
the costs of the Accounting Department at Nike Inc. would be considered by the Air Jordan
product line to be: correct answers indirect costs
Are wages of assembly-line workers a direct labor cost? correct answers yes
Are wages of a factory supervisor a direct labor cost? correct answers No
Which of the following would most likely be included as part of manufacturing overhead in
the production of a Dell PC desktop computer? correct answers
True or false: period costs start on the balance sheet and are expensed to the income
statement as sales occur correct answers false
when the level of activity decreases, fixed costs will correct answers remain constant in total
Lemon Aid operates a number of lemonade stands downtown SLO. The fixed expense of a
lemonade stand is $1,200 per
week. The variable cost per cup of lemonade served is $0.22. Each cup of lemonade sells for
a $1.00. Lemon Aid budgets
to sell 3,000 cups of lemonade per week. Last week, they sold only 2,800 cups of lemonade.
What was Lemon Aid's total
variable cost incurred last week. correct answers $616
Lemon Aid operates a number of lemonade stands downtown SLO. The fixed expense of a
lemonade stand is $1,200 per
week. The variable cost per cup of lemonade served is $0.22. Each cup of lemonade sells for
a $1.00. Lemon Aid budgets
Which of the following concepts are considered one of the three pillars of managerial
accounting? correct answers decision making
true or false: managerial accounting reports does not need to follow generally accepted
accounting principals (GAAP)? correct answers True
The process used by a company to identify risks and develop responses to those risks that
enable a company to be reasonably assured of meetings its goals is known as: correct answers
enterprise risk management
The focal point of a company's strategy should be: correct answers its target customers
The customer value proposition that focuses on delivering products and services faster, more
conveniently, and at a lower price is known as: correct answers operational excellence
A company's corporate social responsibility is a concept whereby organizations consider the
needs of all stakeholders when making decisions. Which of the following are not considered
a stakeholder when considering a company's corporate social responsibility? correct answers
competitors
the costs of the Accounting Department at Nike Inc. would be considered by the Air Jordan
product line to be: correct answers indirect costs
Are wages of assembly-line workers a direct labor cost? correct answers yes
Are wages of a factory supervisor a direct labor cost? correct answers No
Which of the following would most likely be included as part of manufacturing overhead in
the production of a Dell PC desktop computer? correct answers
True or false: period costs start on the balance sheet and are expensed to the income
statement as sales occur correct answers false
when the level of activity decreases, fixed costs will correct answers remain constant in total
Lemon Aid operates a number of lemonade stands downtown SLO. The fixed expense of a
lemonade stand is $1,200 per
week. The variable cost per cup of lemonade served is $0.22. Each cup of lemonade sells for
a $1.00. Lemon Aid budgets
to sell 3,000 cups of lemonade per week. Last week, they sold only 2,800 cups of lemonade.
What was Lemon Aid's total
variable cost incurred last week. correct answers $616
Lemon Aid operates a number of lemonade stands downtown SLO. The fixed expense of a
lemonade stand is $1,200 per
week. The variable cost per cup of lemonade served is $0.22. Each cup of lemonade sells for
a $1.00. Lemon Aid budgets
