ACC 241 Exam 1 Question and
answers correctly solved 2025/2026
The main focus of managerial accounting is: - correct answer ✔decision making
What are objectives of Management accounting? - correct answer ✔1. to provide information for
planning, controlling, evaluating and continuous improvement
2. to provide information for decision making
3. to provide information for costing of services, products, and other objects of interest to management
What is TRUE about managerial accounting? - correct answer ✔managerial accounting reports provide
detailed internal information
The value chain is used by - correct answer ✔service, manufacturing, and merchandising businesses
What is an ex. of MOH expense in a factory? - correct answer ✔wages of factpry maintenance
personnel
Product Costs - correct answer ✔= all costs required for production (minus sales costs)
wages/direct labor hours, raw materials, factory overhead, consumable production supplies
Total MOH Costs - correct answer ✔Labor and Factory costs
answers correctly solved 2025/2026
The main focus of managerial accounting is: - correct answer ✔decision making
What are objectives of Management accounting? - correct answer ✔1. to provide information for
planning, controlling, evaluating and continuous improvement
2. to provide information for decision making
3. to provide information for costing of services, products, and other objects of interest to management
What is TRUE about managerial accounting? - correct answer ✔managerial accounting reports provide
detailed internal information
The value chain is used by - correct answer ✔service, manufacturing, and merchandising businesses
What is an ex. of MOH expense in a factory? - correct answer ✔wages of factpry maintenance
personnel
Product Costs - correct answer ✔= all costs required for production (minus sales costs)
wages/direct labor hours, raw materials, factory overhead, consumable production supplies
Total MOH Costs - correct answer ✔Labor and Factory costs
