Principles of Cost Accounting (17th Edition) – Test Bank for Chapters 1–10 | Edward J. Vanderbeck

, CHAPTER 1: INTRODUCTION TO COST ACCOUNTING
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Test Bank for Principles Of Cost Accounting,
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17th Edition Edward J. Vanderbeck hapters 1 - 10,
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Complete




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, CHAPTER 1: INTRODUCTION TO COST ACCOUNTING
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Contents

1. Ch--1:--Introduction--to--Cost--Accounting


2. Ch--2:--Accounting--for--Materials


3. Ch--3:--Accounting--for--Labor

4. Ch--4:--Accounting--for--Factory--Overhead


5. Ch--5:--Process--Cost--Accounting-General--Procedures

6. Ch--6:--Process--Cost--Accounting-Additional--Procedures;--Accounting--for--Joint--Products--and--By-Products


7. Ch--7:--The--Master--Budget--and--Flexible--Budgeting

8. Ch--8:--Standard--Cost--Accounting-Materials,--Labor,--and--Factory--Overhead


9. Ch--9:--Cost--Accounting--for--Service--Businesses,--the--Balanced--Scorecard,--and--Quality--Costs

10. Ch--10:--Cost--Analysis--for--Management--Decision--Making




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, CHAPTER 1: INTRODUCTION TO COST ACCOUNTING
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The--business--entity--that--converts--purchased--raw--materials--into--finished--goods--by--using--labor,--technology,--and--facilities-
is--a:
a. Manufacturer.
b. Merchandiser.
c. Service--business.
d. Not-for-profit--service--agency.
ANSWER: a
RATIONALE: The--business--entity--that--converts--purchased--raw--materials--into--finished--goods--by--using--
labor,-technology,--and--facilities--is--a--manufacturer.
POINTS: 1
DIFFICULTY: Easy
LEARNING--OBJECTI- PRIN.EDWA.16.1-----Introduction
VES:
ACCREDITING--STAN- - AACSB--Analytic
DARDS: ACCT.AICPA.FN.03-----Measurement-
BUSPROG.03-----Analytic
IMA-Business--Applications
OTHER: Bloom's:--Remembering

2. The--business--entity--that--purchases--finished--goods--for--resale--is--a:
a. Manufacturer.
b. Merchandiser.
c. Service--business.
d. Wholesaler.
ANSWER: b
RATIONALE: The--business--entity--that--purchases--finished--goods--for--resale--is--a--merchandiser.
POINTS: 1
DIFFICULTY: Easy
LEARNING--OBJECTIVES--PRIN.EDWA.16.1-----Introduction
:
ACCREDITING--STANDA- AACSB--Analytic--
RDS: ACCT.AICPA.FN.03-----Measurement-
BUSPROG.03-----Analytic
IMA-Business--Applications
OTHER: Bloom's:--Remembering

3. The--type--of--merchandiser--who--purchases--goods--from--the--producer--and--sells--them--to--retailers--that--sell--them--to--
the-consumer--is--a:
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service--business.
ANSWER: c
RATIONALE: A--wholesaler--purchases--goods--from--the--producer--and--sells--them--to--the--retailer.
POINTS: 1
DIFFICULTY: Easy

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