BUS 215 QUIZ 1

BUS 215 QUIZ 1 Which of the following concepts are considered one of the three pillars of managerial accounting? - CORRECT ANSWER-decision making true or false: managerial accounting reports does not need to follow generally accepted accounting principals (GAAP)? - CORRECT ANSWER-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 ANSWER-enterprise risk management The focal point of a company's strategy should be: - CORRECT ANSWER-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 ANSWER-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 ANSWER-competitors the costs of the Accounting Department at Nike Inc. would be considered by the Air Jordan product line to be: - CORRECT ANSWER-indirect costs Are wages of assembly-line workers a direct labor cost? - CORRECT ANSWER-yes Are wages of a factory supervisor a direct labor cost? - CORRECT ANSWER-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 ANSWER- True or false: period costs start on the balance sheet and are expensed to the income statement as sales occur - CORRECT ANSWER-false when the level of activity decreases, fixed costs will - CORRECT