Test Bank for Managerial Accounting, 5th Edition by Stacey
Whitecotton All Chapters Completed
,Chapter 01 5e
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Financial accounting information is generally used exclusively by internal parties
such as managers.
⊚ true
⊚ false
2) Financial accounting information is reported for the company as a whole.
⊚ true
⊚ false
3) Managers must direct, lead, and motivate during the implementation function.
⊚ true
⊚ false
4) Managers of small, private corporations use managerial accounting information,
whereas managers of large, public corporations use financial accounting information.
⊚ true
⊚ false
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of
directors for the accuracy of the reporting system.
⊚ true
⊚ false
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the
accounting reporting environment: ethics, fraud, and management.
⊚ true
⊚ false
7) A sustainable business is one with the ability to meet the needs of today
without sacrificing the ability of future generations to meet their own needs.
, ⊚ true
⊚ false
8) The Nterm N"big Ndata" Nrefers Nto Nthe Nvolume, Nvelocity, Nand Nveracity Nof Ndata.
⊚ true
⊚ false
9) Predictive Nanalytics Nis Nthe Nprocess Nof Nrecommending Na Ncourse Nof Naction
Nbased N upon Nmeaningful Npatterns Nand Ninsights Nfrom Ncollected Ndata.
⊚ true
⊚ false
10) Descriptive Nanalytics Nuses Npatterns Nand Ninsights Nfrom Ncollected Ndata Nto
Nshow N what Nhas Nhappened.
⊚ true
⊚ false
11) An Nopportunity Ncost Nis Nthe Ncost Nof Nnot Ndoing Nsomething.
⊚ true
⊚ false
12) Whether Na Ncost Nis Ntreated Nas Ndirect Nor Nindirect Ndepends Non Nwhether Ntracing
Nthe Ncost N is Nboth Npossible Nand Npractical.
⊚ true
⊚ false
13) Variable Ncosts Nare Nalways Ndirect Ncosts.
⊚ true
⊚ false
14) Fixed Ncosts Nstay Nthe Nsame, Non Na Nper-unit Nbasis, Nas Nactivity Nlevel Nchanges.
⊚ true
⊚ false
, 15) Prime Ncosts Ninclude Ndirect Nmaterials, Ndirect Nlabor, Nand Nmanufacturing
Noverhead.
⊚ true
⊚ false
16) All Nmanufacturing Ncosts Nare Ntreated Nas Nproduct Ncosts.
⊚ true
⊚ false
17) All Nmanufacturing Ncosts Nare Ninventoriable Ncosts.
⊚ true
⊚ false
18) A Ncost Nthat Nwill Noccur Nin Nthe Nfuture Nand Ndiffers Nbetween Nvarious
Nalternatives N under Nconsideration Nis Na Nrelevant Ncost.
⊚ true
⊚ false
19) Managerial Naccounting Ninformation Nis Nmandated Nby Nthe NSEC Nand
Nother N regulatory Nagencies.
⊚ true
⊚ false
20) Managerial Naccounting Ninformation Nis Nconsidered Nproprietary Nin Nnature.
⊚ true
⊚ false
21) Opportunity Ncosts Noccur Nin Nbusiness Nwhen Nresources Nare Nconstrained.
⊚ true
⊚ false
Whitecotton All Chapters Completed
,Chapter 01 5e
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Financial accounting information is generally used exclusively by internal parties
such as managers.
⊚ true
⊚ false
2) Financial accounting information is reported for the company as a whole.
⊚ true
⊚ false
3) Managers must direct, lead, and motivate during the implementation function.
⊚ true
⊚ false
4) Managers of small, private corporations use managerial accounting information,
whereas managers of large, public corporations use financial accounting information.
⊚ true
⊚ false
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of
directors for the accuracy of the reporting system.
⊚ true
⊚ false
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the
accounting reporting environment: ethics, fraud, and management.
⊚ true
⊚ false
7) A sustainable business is one with the ability to meet the needs of today
without sacrificing the ability of future generations to meet their own needs.
, ⊚ true
⊚ false
8) The Nterm N"big Ndata" Nrefers Nto Nthe Nvolume, Nvelocity, Nand Nveracity Nof Ndata.
⊚ true
⊚ false
9) Predictive Nanalytics Nis Nthe Nprocess Nof Nrecommending Na Ncourse Nof Naction
Nbased N upon Nmeaningful Npatterns Nand Ninsights Nfrom Ncollected Ndata.
⊚ true
⊚ false
10) Descriptive Nanalytics Nuses Npatterns Nand Ninsights Nfrom Ncollected Ndata Nto
Nshow N what Nhas Nhappened.
⊚ true
⊚ false
11) An Nopportunity Ncost Nis Nthe Ncost Nof Nnot Ndoing Nsomething.
⊚ true
⊚ false
12) Whether Na Ncost Nis Ntreated Nas Ndirect Nor Nindirect Ndepends Non Nwhether Ntracing
Nthe Ncost N is Nboth Npossible Nand Npractical.
⊚ true
⊚ false
13) Variable Ncosts Nare Nalways Ndirect Ncosts.
⊚ true
⊚ false
14) Fixed Ncosts Nstay Nthe Nsame, Non Na Nper-unit Nbasis, Nas Nactivity Nlevel Nchanges.
⊚ true
⊚ false
, 15) Prime Ncosts Ninclude Ndirect Nmaterials, Ndirect Nlabor, Nand Nmanufacturing
Noverhead.
⊚ true
⊚ false
16) All Nmanufacturing Ncosts Nare Ntreated Nas Nproduct Ncosts.
⊚ true
⊚ false
17) All Nmanufacturing Ncosts Nare Ninventoriable Ncosts.
⊚ true
⊚ false
18) A Ncost Nthat Nwill Noccur Nin Nthe Nfuture Nand Ndiffers Nbetween Nvarious
Nalternatives N under Nconsideration Nis Na Nrelevant Ncost.
⊚ true
⊚ false
19) Managerial Naccounting Ninformation Nis Nmandated Nby Nthe NSEC Nand
Nother N regulatory Nagencies.
⊚ true
⊚ false
20) Managerial Naccounting Ninformation Nis Nconsidered Nproprietary Nin Nnature.
⊚ true
⊚ false
21) Opportunity Ncosts Noccur Nin Nbusiness Nwhen Nresources Nare Nconstrained.
⊚ true
⊚ false
