TEST BANK FOR
g g
Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds
g g g g g g g
Chapter 1-14
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Answers Included ✅ g
Chapter 01 10e
g g
1) Whichgofgthegfollowinggitemsgaregrepresentativegofgmanagerialgaccounting?
Note:gCheckgallgthatgapply.
A) FinancialgstatementgingaccordancegwithgGAAP
B) Monthlygsalesgreportsgusedginternallygtogallocategfundsgtogdivisions
C) Quarterlygfinancialginformationgsentgtoginvestors
D) Auditedgfinancialgstatementsgsubmittedgtogbankersgwithgcreditgapplication
E) Budgetgprojectionsgusedgtogmakeglogisticgdecisions
2) Whichgofgthegfollowinggcostsgaregnotgincludedgingthegcostgofgmanufacturinggagproduct?
Note:gCheckgallgthatgapply.
A) Marketing
B) Productiongworkers'gwages
C) Factorygjanitor'sgwages
D) CEOgsalary
E) Depreciationgongmanufacturinggequipment
3) Whichgofgthegfollowinggisgconsideredgagdownstreamgcost?
Note:gCheckgallgthatgapply.
A) Researchgandgdevelopment
B) Productiongwages
C) Advertisinggcost
D) Warrantygcost
E) Costgofginternetgingmanufacturinggplant
4) Whichgofgthegfollowinggaregexamplesgofginventorygholdinggcosts?
Note:gCheckgallgthatgapply.
, A) Costgofgwarehousegspace
B) Costgofgshippingginventorygtogcustomers
C) Researchgandgdevelopmentgcost
D) Costgofgsupervisingginventory
E) Inventorygspoilagegcost
5) AshleygBradshawgisgthegmanagergofgonegdepartmentgingaglargegstore.gIngthisgcapacity,g
whichgofgthegfollowinggkindsgofginformationgwouldgshegbeginterestedgin?
A) Economicgdata
B) Financialgdata
C) Nonfinancialgdata
D) Financial,geconomic,gandgnonfinancialgdata
6) Allgofgthegfollowinggaregfeaturesgofgmanagerialgaccountingexcept:
A) informationgisgprovidedgprimarilygtoginsidersgsuchgasgmanagers.
B) informationgincludesgeconomicgandgnon-financialgdatagasgwellgasgfinancialgdata.
C) informationgisgcharacterizedgbygobjectivity,greliability,gconsistency,gandgaccuracy.
D) informationgisgreportedgcontinuouslygwithgagpresentgorgfuturegorientation.
7) Choosegtheganswergthatgisnotgagdistinguishinggcharacteristicgofgfinancialgaccountinggi
nformation.
A) Itgisgglobalginformationgthatgreflectsgthegperformancegofgthegwholegcompany.
B) Itgisgfocusedgprimarilygongthegfuture.
C) Itgisgmoregconcernedgwithgfinancialgdatagthangphysicalgorgeconomicgdata.
D) Itgisgmoreghighlygregulatedgthangmanagerialgaccountingginformation.
,8) Managerialgaccountingginformationgisglimitedgorgrestrictedgbygwhichgofgthegfollowingg
authoritiesgorgprinciples?
A) SecuritiesgandgExchangegCommission
B) GenerallygAcceptedgAccountinggPrinciples
C) ManagerialgAccountinggStandardsgBoard
D) Value-AddedgPrinciple
9) Selectgtheincorrectgstatementgregardinggthegrelationshipgbetweengtypegofgusergandgtypegofgi
nformation.
A) Middlegmanagersgneedgmoregnonfinancial,gorgoperationalgdatagthangdogseniorg
executives.
B) Assemblyglinegsupervisorsgneedgmoregimmediategfeedbackgongperformancegthangdogs
eniorgexecutives.
C) Seniorgexecutivesgneedglessgaggregatedginformationgthangdoglower-levelgmanagers.
D) Seniorgexecutivesguseggeneralgeconomicginformationgasgwellgasgfinancialginformation.
10) WhichggroupgwouldgusegmanagerialgaccountinggdatagofgXYgCompany?
A) Stockholders
B) Managers
C) Executives
D) Bothgmanagersgandgexecutives
E) Allgofgtheggroupsgwouldgusegmanagerialgaccountinggdata
11) Whichgofgthegfollowinggisgagfeaturegofgmanagerialgaccountingginformation?
, A) Informationgisgnotgdistributedgtogthegpublic
B) Informationgreportsgongthegcompanygasgagwhole
C) Informationgisgfocusedgongthegpast
D) Informationgisgreportedgannually
12) Selectgthecorrectgstatementgregardinggmanagerialgandgfinancialgaccounting.
A) Usersgofgmanagerialgaccountingginformationgdesireggreatergaggregationgthangdogusersg
ofgfinancialgaccountingginformation.
B) Bothgmanagerialgandgfinancialgaccountinggusegeconomicgandgphysicalgdatagingadditiongt
ogfinancialgdata.
C) Financialgaccountinggisgmoreghighlygregulatedgthangmanagerialgaccounting.
D) Timelinessgisgmoregimportantgingfinancialgaccountinggthangingmanagerialgaccounting.
13) Whichgofgthegfollowinggmostgexemplifiesgthegvalue-addedgprinciple?
A) Angongoinggprocessgwheregcontinuousgimprovementgisgtheggoal.
B) Agcompetitivegmanagementgprogramgthatgemphasizesgquality.
C) Informationggatheringgandgreportinggactivitiesgshouldgbegrestrictedgtogthosegactivitiesgt
hatgaddgvaluegingexcessgofgtheirgcost.
D) Managerialgaccountingginformationgisgmeasuredgingeconomic,gphysical,gandgfinancial
terms.
14) Whichgofgthegfollowinggcostsgwouldgbegclassifiedgasgagdirectgcostgforgagcompanygthatgp
roducesgmotorcycles?
g g
Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds
g g g g g g g
Chapter 1-14
g
Answers Included ✅ g
Chapter 01 10e
g g
1) Whichgofgthegfollowinggitemsgaregrepresentativegofgmanagerialgaccounting?
Note:gCheckgallgthatgapply.
A) FinancialgstatementgingaccordancegwithgGAAP
B) Monthlygsalesgreportsgusedginternallygtogallocategfundsgtogdivisions
C) Quarterlygfinancialginformationgsentgtoginvestors
D) Auditedgfinancialgstatementsgsubmittedgtogbankersgwithgcreditgapplication
E) Budgetgprojectionsgusedgtogmakeglogisticgdecisions
2) Whichgofgthegfollowinggcostsgaregnotgincludedgingthegcostgofgmanufacturinggagproduct?
Note:gCheckgallgthatgapply.
A) Marketing
B) Productiongworkers'gwages
C) Factorygjanitor'sgwages
D) CEOgsalary
E) Depreciationgongmanufacturinggequipment
3) Whichgofgthegfollowinggisgconsideredgagdownstreamgcost?
Note:gCheckgallgthatgapply.
A) Researchgandgdevelopment
B) Productiongwages
C) Advertisinggcost
D) Warrantygcost
E) Costgofginternetgingmanufacturinggplant
4) Whichgofgthegfollowinggaregexamplesgofginventorygholdinggcosts?
Note:gCheckgallgthatgapply.
, A) Costgofgwarehousegspace
B) Costgofgshippingginventorygtogcustomers
C) Researchgandgdevelopmentgcost
D) Costgofgsupervisingginventory
E) Inventorygspoilagegcost
5) AshleygBradshawgisgthegmanagergofgonegdepartmentgingaglargegstore.gIngthisgcapacity,g
whichgofgthegfollowinggkindsgofginformationgwouldgshegbeginterestedgin?
A) Economicgdata
B) Financialgdata
C) Nonfinancialgdata
D) Financial,geconomic,gandgnonfinancialgdata
6) Allgofgthegfollowinggaregfeaturesgofgmanagerialgaccountingexcept:
A) informationgisgprovidedgprimarilygtoginsidersgsuchgasgmanagers.
B) informationgincludesgeconomicgandgnon-financialgdatagasgwellgasgfinancialgdata.
C) informationgisgcharacterizedgbygobjectivity,greliability,gconsistency,gandgaccuracy.
D) informationgisgreportedgcontinuouslygwithgagpresentgorgfuturegorientation.
7) Choosegtheganswergthatgisnotgagdistinguishinggcharacteristicgofgfinancialgaccountinggi
nformation.
A) Itgisgglobalginformationgthatgreflectsgthegperformancegofgthegwholegcompany.
B) Itgisgfocusedgprimarilygongthegfuture.
C) Itgisgmoregconcernedgwithgfinancialgdatagthangphysicalgorgeconomicgdata.
D) Itgisgmoreghighlygregulatedgthangmanagerialgaccountingginformation.
,8) Managerialgaccountingginformationgisglimitedgorgrestrictedgbygwhichgofgthegfollowingg
authoritiesgorgprinciples?
A) SecuritiesgandgExchangegCommission
B) GenerallygAcceptedgAccountinggPrinciples
C) ManagerialgAccountinggStandardsgBoard
D) Value-AddedgPrinciple
9) Selectgtheincorrectgstatementgregardinggthegrelationshipgbetweengtypegofgusergandgtypegofgi
nformation.
A) Middlegmanagersgneedgmoregnonfinancial,gorgoperationalgdatagthangdogseniorg
executives.
B) Assemblyglinegsupervisorsgneedgmoregimmediategfeedbackgongperformancegthangdogs
eniorgexecutives.
C) Seniorgexecutivesgneedglessgaggregatedginformationgthangdoglower-levelgmanagers.
D) Seniorgexecutivesguseggeneralgeconomicginformationgasgwellgasgfinancialginformation.
10) WhichggroupgwouldgusegmanagerialgaccountinggdatagofgXYgCompany?
A) Stockholders
B) Managers
C) Executives
D) Bothgmanagersgandgexecutives
E) Allgofgtheggroupsgwouldgusegmanagerialgaccountinggdata
11) Whichgofgthegfollowinggisgagfeaturegofgmanagerialgaccountingginformation?
, A) Informationgisgnotgdistributedgtogthegpublic
B) Informationgreportsgongthegcompanygasgagwhole
C) Informationgisgfocusedgongthegpast
D) Informationgisgreportedgannually
12) Selectgthecorrectgstatementgregardinggmanagerialgandgfinancialgaccounting.
A) Usersgofgmanagerialgaccountingginformationgdesireggreatergaggregationgthangdogusersg
ofgfinancialgaccountingginformation.
B) Bothgmanagerialgandgfinancialgaccountinggusegeconomicgandgphysicalgdatagingadditiongt
ogfinancialgdata.
C) Financialgaccountinggisgmoreghighlygregulatedgthangmanagerialgaccounting.
D) Timelinessgisgmoregimportantgingfinancialgaccountinggthangingmanagerialgaccounting.
13) Whichgofgthegfollowinggmostgexemplifiesgthegvalue-addedgprinciple?
A) Angongoinggprocessgwheregcontinuousgimprovementgisgtheggoal.
B) Agcompetitivegmanagementgprogramgthatgemphasizesgquality.
C) Informationggatheringgandgreportinggactivitiesgshouldgbegrestrictedgtogthosegactivitiesgt
hatgaddgvaluegingexcessgofgtheirgcost.
D) Managerialgaccountingginformationgisgmeasuredgingeconomic,gphysical,gandgfinancial
terms.
14) Whichgofgthegfollowinggcostsgwouldgbegclassifiedgasgagdirectgcostgforgagcompanygthatgp
roducesgmotorcycles?
