CHAPTER1:INTRODUCTIONTOCOSTACCOUNTING
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TestBankForPrinciplesOfCostAccounting,
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17thEditionEdwardJ. Vanderbeck
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Chapters1-10,Complete z z z z
Cengage Learning Testing, Powered by Cognero
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, CHAPTER1:INTRODUCTIONTOCOSTACCOUNTING
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Contents
1. Ch 1: Introduction to Cost Accounting
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2. Ch 2: Accounting for Materials
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3. Ch 3: Accounting for Labor
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4. Ch 4: Accounting for Factory Overhead
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5. Ch 5: Process Cost Accounting-General Procedures
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6. Ch 6: Process Cost Accounting-Additional Procedures; Accounting for Joint Products and By-Products
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7. Ch 7: The Master Budget and Flexible Budgeting
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8. Ch 8: Standard Cost Accounting-Materials, Labor, and Factory Overhead
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9. Ch 9: Cost Accounting for Service Businesses, the Balanced Scorecard, and Quality Costs
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10. Ch 10: Cost Analysis for Management Decision Making
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Cengage Learning Testing, Powered by Cognero
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,CHAPTER1:INTRODUCTIONTOCOSTACCOUNTING z z z z z
The businessentitythat converts purchased rawmaterials intofinishedgoods byusinglabor, technology, andfacilitiesis a:
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a. Manufacturer.
b. Merchandiser.
c. Servicebusiness. z
d. Not-for-profitservice agency. z z
ANSWER: a
RATIONALE: The business entity that converts purchasedraw materials into finished goodsbyusing labor,technology,
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and facilities is a manufacturer.
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POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTI PRIN.EDWA.16.1-Introduction
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VES:
z
ACCREDITING STAN AACSBAnalytic z z z
DARDS: ACCT.AICPA.FN.03-Measurement z z
BUSPROG.03 - Analytic z z z
IMA-BusinessApplications z
OTHER: Bloom's:Remembering z
2. The business entitythat purchases finished goods for resale is a:
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a. Manufacturer.
b. Merchandiser.
c. Servicebusiness. z
d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is amerchandiser. z z z z z z z z z z z
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVESPRIN.EDWA.16.1-Introduction
z z z z
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03-
z z z z
RDS:
z MeasurementBUSPROG.03 - Analytic z z z z
IMA-BusinessApplications z
OTHER: Bloom's:Remembering z
3. The type of merchandiser who purchases goods fromthe producer andsells themto retailers that sell them to the
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consumer is a:
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a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Servicebusiness. z
ANSWER: c
RATIONALE: Awholesaler purchasesgoods from the producerandsells themtothe retailer.
z z z z z z z z z z z z
POINTS: 1
DIFFICULTY: Easy
Cengage Learning Testing, Powered by Cognero
z z z z z Page 3
z
, CHAPTER1:INTRODUCTIONTOCOSTACCOUNTING
z z z z z
LEARNING OBJECTIVESPRIN.EDWA.16.1-Introduction
z z z z
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03-
z z z z
RDS:
z MeasurementBUSPROG.03 - Analytic z z z z
IMA-BusinessApplications z
OTHER: Bloom's:Remembering z
4. Examplesof servicebusinesses include:
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a. Airlines, accountants,andhairstylists. z z z z
b. Departmentstores, postershops, andwholesalers. z z z z z
c. Aircraftproducers, home builders,andmachine toolmakers. z z z z z z z
d. None ofthese are correct. z z z z
ANSWER: a
RATIONALE: Examplesof service businesses includeairlines,architects, andhairstylists. z z z z z z z z z
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTI z PRIN.EDWA.16.1-Introduction z z
VES:
z
ACCREDITING STAN AACSBReflectiveThinking z z z z
DARDS: ACCT.AICPA.FN.03 - Measurement z z
BUSPROG.06 - Reflective Thinking z z z z
IMA-Business Applications z z
OTHER: Bloom's: Understanding z
5. ISO 9000 is a set of internationalstandards for:
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a. determiningthe selling priceof aproduct. z z z z z z
b. costcontrol. z
c. qualitymanagement. z
d. deliveringproduct, z
ANSWER: c
RATIONALE: ISO 9000is aset ofinternational standards for qualitymanagement. z z z z z z z z z z
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES:PRIN.EDWA.16.1-Introduction
z z z z
ACCREDITINGSTANDARAACSBAnalytic z z z
DS: ACCT.AICPA.FN.03-Measurement z z
BUSPROG.03 - Analytic z z z
IMA-StrategicPlanning z
OTHER: Bloom's:Remembering z
6. Unit cost informationis important for making allof the following marketingdecisions except:
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a. Determiningthe sellingpriceof a product. z z z z z z
b. Biddingoncontracts. z z
Cengage Learning Testing, Powered by Cognero
z z z z z Page 4
z
z z z z z
TestBankForPrinciplesOfCostAccounting,
z z z z z z z
17thEditionEdwardJ. Vanderbeck
z z z z z
Chapters1-10,Complete z z z z
Cengage Learning Testing, Powered by Cognero
z z z z z Page 1
z
, CHAPTER1:INTRODUCTIONTOCOSTACCOUNTING
z z z z z
Contents
1. Ch 1: Introduction to Cost Accounting
z z z z z
2. Ch 2: Accounting for Materials
z z z z
3. Ch 3: Accounting for Labor
z z z z
4. Ch 4: Accounting for Factory Overhead
z z z z z
5. Ch 5: Process Cost Accounting-General Procedures
z z z z z
6. Ch 6: Process Cost Accounting-Additional Procedures; Accounting for Joint Products and By-Products
z z z z z z z z z z z
7. Ch 7: The Master Budget and Flexible Budgeting
z z z z z z z
8. Ch 8: Standard Cost Accounting-Materials, Labor, and Factory Overhead
z z z z z z z z
9. Ch 9: Cost Accounting for Service Businesses, the Balanced Scorecard, and Quality Costs
z z z z z z z z z z z z
10. Ch 10: Cost Analysis for Management Decision Making
z z z z z z z
Cengage Learning Testing, Powered by Cognero
z z z z z Page 2
z
,CHAPTER1:INTRODUCTIONTOCOSTACCOUNTING z z z z z
The businessentitythat converts purchased rawmaterials intofinishedgoods byusinglabor, technology, andfacilitiesis a:
z z z z z z z z z z z z z z z z z z
a. Manufacturer.
b. Merchandiser.
c. Servicebusiness. z
d. Not-for-profitservice agency. z z
ANSWER: a
RATIONALE: The business entity that converts purchasedraw materials into finished goodsbyusing labor,technology,
z z z z z z z z z z z z z z
and facilities is a manufacturer.
z z z z z
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTI PRIN.EDWA.16.1-Introduction
z z z
VES:
z
ACCREDITING STAN AACSBAnalytic z z z
DARDS: ACCT.AICPA.FN.03-Measurement z z
BUSPROG.03 - Analytic z z z
IMA-BusinessApplications z
OTHER: Bloom's:Remembering z
2. The business entitythat purchases finished goods for resale is a:
z z z z z z z z z z
a. Manufacturer.
b. Merchandiser.
c. Servicebusiness. z
d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is amerchandiser. z z z z z z z z z z z
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVESPRIN.EDWA.16.1-Introduction
z z z z
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03-
z z z z
RDS:
z MeasurementBUSPROG.03 - Analytic z z z z
IMA-BusinessApplications z
OTHER: Bloom's:Remembering z
3. The type of merchandiser who purchases goods fromthe producer andsells themto retailers that sell them to the
z z z z z z z z z z z z z z z z z z z
consumer is a:
z z z
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Servicebusiness. z
ANSWER: c
RATIONALE: Awholesaler purchasesgoods from the producerandsells themtothe retailer.
z z z z z z z z z z z z
POINTS: 1
DIFFICULTY: Easy
Cengage Learning Testing, Powered by Cognero
z z z z z Page 3
z
, CHAPTER1:INTRODUCTIONTOCOSTACCOUNTING
z z z z z
LEARNING OBJECTIVESPRIN.EDWA.16.1-Introduction
z z z z
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03-
z z z z
RDS:
z MeasurementBUSPROG.03 - Analytic z z z z
IMA-BusinessApplications z
OTHER: Bloom's:Remembering z
4. Examplesof servicebusinesses include:
z z z z
a. Airlines, accountants,andhairstylists. z z z z
b. Departmentstores, postershops, andwholesalers. z z z z z
c. Aircraftproducers, home builders,andmachine toolmakers. z z z z z z z
d. None ofthese are correct. z z z z
ANSWER: a
RATIONALE: Examplesof service businesses includeairlines,architects, andhairstylists. z z z z z z z z z
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTI z PRIN.EDWA.16.1-Introduction z z
VES:
z
ACCREDITING STAN AACSBReflectiveThinking z z z z
DARDS: ACCT.AICPA.FN.03 - Measurement z z
BUSPROG.06 - Reflective Thinking z z z z
IMA-Business Applications z z
OTHER: Bloom's: Understanding z
5. ISO 9000 is a set of internationalstandards for:
z z z z z z z z
a. determiningthe selling priceof aproduct. z z z z z z
b. costcontrol. z
c. qualitymanagement. z
d. deliveringproduct, z
ANSWER: c
RATIONALE: ISO 9000is aset ofinternational standards for qualitymanagement. z z z z z z z z z z
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES:PRIN.EDWA.16.1-Introduction
z z z z
ACCREDITINGSTANDARAACSBAnalytic z z z
DS: ACCT.AICPA.FN.03-Measurement z z
BUSPROG.03 - Analytic z z z
IMA-StrategicPlanning z
OTHER: Bloom's:Remembering z
6. Unit cost informationis important for making allof the following marketingdecisions except:
z z z z z z z z z z z z z
a. Determiningthe sellingpriceof a product. z z z z z z
b. Biddingoncontracts. z z
Cengage Learning Testing, Powered by Cognero
z z z z z Page 4
z
