TEST BANK FOR
#z #z
Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds
#z #z #z #z #z #z #z
Chapter 1-14
#z
Answers Included ✅ #z
Chapter 01 10e#z #z
1) Which #zof #zthe #zfollowing #zitems #zare #zrepresentative #zof #zmanagerial #zaccounting?
Note: #zCheck #zall #zthat #zapply.
A) Financial #zstatement #zin #zaccordance #zwith #zGAAP
B) Monthly#zsales #zreports #zused #zinternally #zto #zallocate #zfunds #zto #zdivisions
C) Quarterly #zfinancial #zinformation #zsent #zto #zinvestors
D) Audited #zfinancial #zstatements #zsubmitted #zto #zbankers #zwith #zcredit #zapplication
E) Budget #zprojections #zused #zto #zmake #zlogistic #zdecisions
2) Which #zof #zthe #zfollowing #zcosts #zare #znot #zincluded #zin #zthe #zcost #zof #zmanufacturing #za #zproduct?
Note: #zCheck #zall #zthat #zapply.
A) Marketing
B) Production #zworkers' #zwages
C) Factory #zjanitor's #zwages
D) CEO #zsalary
E) Depreciation #zon #zmanufacturing #zequipment
3) Which #zof #zthe #zfollowing #zis #zconsidered #za #zdownstream #zcost?
Note: #zCheck #zall #zthat #zapply.
A) Research #zand #zdevelopment
B) Production #zwages
C) Advertising #zcost
D) Warranty #zcost
E) Cost #zof #zinternet #zin #zmanufacturing #zplant
4) Which #zof #zthe #zfollowing #zare #zexamples #zof #zinventory #zholding #zcosts?
Note: #zCheck #zall #zthat #zapply.
, A) Cost #zof #zwarehouse #zspace
B) Cost #zof #zshipping #zinventory #zto #zcustomers
C) Research #zand #zdevelopment #zcost
D) Cost #zof #zsupervising #zinventory
E) Inventory#zspoilage #zcost
5) Ashley #zBradshaw #zis #zthe #zmanager #zof #zone #zdepartment #zin #za #zlarge #zstore. #zIn #zthis
#zcapacity, #zwhich #zof #zthe #zfollowing #zkinds #zof #zinformation #zwould #zshe #zbe #zinterested #zin?
A) Economic #zdata
B) Financial #zdata
C) Nonfinancial #zdata
D) Financial, #zeconomic, #zand #znonfinancial #zdata
6) All #zof #zthe #zfollowing #zare #zfeatures #zof #zmanagerial #zaccountingexcept:
A) information #zis #zprovided #zprimarily #zto #zinsiders #zsuch #zas #zmanagers.
B) information #zincludes #zeconomic #zand #znon-financial #zdata #zas #zwell #zas #zfinancial #zdata.
C) information #zis #zcharacterized #zby#zobjectivity, #zreliability, #zconsistency, #zand #zaccuracy.
D) information #zis #zreported #zcontinuously #zwith #za #zpresent #zor #zfuture #zorientation.
7) Choose #zthe #zanswer #zthat #zisnot #za #zdistinguishing #zcharacteristic #zof #zfinancial
#zaccounting #zinformation.
A) It #zis #zglobal #zinformation #zthat #zreflects #zthe #zperformance #zof #zthe #zwhole #zcompany.
B) It #zis #zfocused #zprimarily #zon #zthe #zfuture.
C) It #zis #zmore #zconcerned #zwith #zfinancial #zdata #zthan #zphysical #zor #zeconomic #zdata.
D) It #zis #zmore #zhighly #zregulated #zthan #zmanagerial #zaccounting #zinformation.
,8) Managerial #zaccounting #zinformation #zis #zlimited #zor #zrestricted #zby #zwhich #zof #zthe
#zfollowing #zauthorities #zor #zprinciples?
A) Securities #zand #zExchange #zCommission
B) Generally #zAccepted #zAccounting #zPrinciples
C) Managerial #zAccounting #zStandards #zBoard
D) Value-Added #zPrinciple
9) Select #ztheincorrect #zstatement #zregarding #zthe #zrelationship #zbetween #ztype #zof #zuser #zand
#ztype #zof #zinformation.
A) Middle #zmanagers #zneed #zmore #znonfinancial, #zor #zoperational #zdata #zthan #zdo
#zsenior #zexecutives.
B) Assembly#zline #zsupervisors #zneed #zmore #zimmediate #zfeedback #zon #zperformance
#zthan #zdo #zsenior #zexecutives.
C) Senior #zexecutives #zneed #zless #zaggregated #zinformation #zthan #zdo #zlower-level #zmanagers.
D) Senior #zexecutives #zuse #zgeneral #zeconomic #zinformation #zas #zwell #zas #zfinancial #zinformation.
10) Which #zgroup #zwould #zuse #zmanagerial #zaccounting #zdata #zof #zXY #zCompany?
A) Stockholders
B) Managers
C) Executives
D) Both #zmanagers #zand #zexecutives
E) All #zof #zthe #zgroups #zwould #zuse #zmanagerial #zaccounting #zdata
11) Which #zof #zthe #zfollowing #zis #za #zfeature #zof #zmanagerial #zaccounting #zinformation?
, A) Information is not distributed to the public
B) Information reports on the company as a whole
C) Information is focused on the past
D) Information is reported annually
12) Select thecorrect statement regarding managerial and financial accounting.
A) Users of managerial accounting information desire greater aggregation than do users
of financial accounting information.
B) Both managerial and financial accounting use economic and physical data in addition
to financial data.
C) Financial accounting is more highly regulated than managerial accounting.
D) Timeliness is more important in financial accounting than in managerial accounting.
13) Which of the following most exemplifies the value-added principle?
A) An ongoing process where continuous improvement is the goal.
B) A competitive management program that emphasizes quality.
C) Information gathering and reporting activities should be restricted to those activities
that add value in excess of their cost.
D) Managerial accounting information is measured in economic, physical, and financial
terms.
14) Which of the following costs would be classified as a direct cost for a company that
produces motorcycles?
#z #z
Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds
#z #z #z #z #z #z #z
Chapter 1-14
#z
Answers Included ✅ #z
Chapter 01 10e#z #z
1) Which #zof #zthe #zfollowing #zitems #zare #zrepresentative #zof #zmanagerial #zaccounting?
Note: #zCheck #zall #zthat #zapply.
A) Financial #zstatement #zin #zaccordance #zwith #zGAAP
B) Monthly#zsales #zreports #zused #zinternally #zto #zallocate #zfunds #zto #zdivisions
C) Quarterly #zfinancial #zinformation #zsent #zto #zinvestors
D) Audited #zfinancial #zstatements #zsubmitted #zto #zbankers #zwith #zcredit #zapplication
E) Budget #zprojections #zused #zto #zmake #zlogistic #zdecisions
2) Which #zof #zthe #zfollowing #zcosts #zare #znot #zincluded #zin #zthe #zcost #zof #zmanufacturing #za #zproduct?
Note: #zCheck #zall #zthat #zapply.
A) Marketing
B) Production #zworkers' #zwages
C) Factory #zjanitor's #zwages
D) CEO #zsalary
E) Depreciation #zon #zmanufacturing #zequipment
3) Which #zof #zthe #zfollowing #zis #zconsidered #za #zdownstream #zcost?
Note: #zCheck #zall #zthat #zapply.
A) Research #zand #zdevelopment
B) Production #zwages
C) Advertising #zcost
D) Warranty #zcost
E) Cost #zof #zinternet #zin #zmanufacturing #zplant
4) Which #zof #zthe #zfollowing #zare #zexamples #zof #zinventory #zholding #zcosts?
Note: #zCheck #zall #zthat #zapply.
, A) Cost #zof #zwarehouse #zspace
B) Cost #zof #zshipping #zinventory #zto #zcustomers
C) Research #zand #zdevelopment #zcost
D) Cost #zof #zsupervising #zinventory
E) Inventory#zspoilage #zcost
5) Ashley #zBradshaw #zis #zthe #zmanager #zof #zone #zdepartment #zin #za #zlarge #zstore. #zIn #zthis
#zcapacity, #zwhich #zof #zthe #zfollowing #zkinds #zof #zinformation #zwould #zshe #zbe #zinterested #zin?
A) Economic #zdata
B) Financial #zdata
C) Nonfinancial #zdata
D) Financial, #zeconomic, #zand #znonfinancial #zdata
6) All #zof #zthe #zfollowing #zare #zfeatures #zof #zmanagerial #zaccountingexcept:
A) information #zis #zprovided #zprimarily #zto #zinsiders #zsuch #zas #zmanagers.
B) information #zincludes #zeconomic #zand #znon-financial #zdata #zas #zwell #zas #zfinancial #zdata.
C) information #zis #zcharacterized #zby#zobjectivity, #zreliability, #zconsistency, #zand #zaccuracy.
D) information #zis #zreported #zcontinuously #zwith #za #zpresent #zor #zfuture #zorientation.
7) Choose #zthe #zanswer #zthat #zisnot #za #zdistinguishing #zcharacteristic #zof #zfinancial
#zaccounting #zinformation.
A) It #zis #zglobal #zinformation #zthat #zreflects #zthe #zperformance #zof #zthe #zwhole #zcompany.
B) It #zis #zfocused #zprimarily #zon #zthe #zfuture.
C) It #zis #zmore #zconcerned #zwith #zfinancial #zdata #zthan #zphysical #zor #zeconomic #zdata.
D) It #zis #zmore #zhighly #zregulated #zthan #zmanagerial #zaccounting #zinformation.
,8) Managerial #zaccounting #zinformation #zis #zlimited #zor #zrestricted #zby #zwhich #zof #zthe
#zfollowing #zauthorities #zor #zprinciples?
A) Securities #zand #zExchange #zCommission
B) Generally #zAccepted #zAccounting #zPrinciples
C) Managerial #zAccounting #zStandards #zBoard
D) Value-Added #zPrinciple
9) Select #ztheincorrect #zstatement #zregarding #zthe #zrelationship #zbetween #ztype #zof #zuser #zand
#ztype #zof #zinformation.
A) Middle #zmanagers #zneed #zmore #znonfinancial, #zor #zoperational #zdata #zthan #zdo
#zsenior #zexecutives.
B) Assembly#zline #zsupervisors #zneed #zmore #zimmediate #zfeedback #zon #zperformance
#zthan #zdo #zsenior #zexecutives.
C) Senior #zexecutives #zneed #zless #zaggregated #zinformation #zthan #zdo #zlower-level #zmanagers.
D) Senior #zexecutives #zuse #zgeneral #zeconomic #zinformation #zas #zwell #zas #zfinancial #zinformation.
10) Which #zgroup #zwould #zuse #zmanagerial #zaccounting #zdata #zof #zXY #zCompany?
A) Stockholders
B) Managers
C) Executives
D) Both #zmanagers #zand #zexecutives
E) All #zof #zthe #zgroups #zwould #zuse #zmanagerial #zaccounting #zdata
11) Which #zof #zthe #zfollowing #zis #za #zfeature #zof #zmanagerial #zaccounting #zinformation?
, A) Information is not distributed to the public
B) Information reports on the company as a whole
C) Information is focused on the past
D) Information is reported annually
12) Select thecorrect statement regarding managerial and financial accounting.
A) Users of managerial accounting information desire greater aggregation than do users
of financial accounting information.
B) Both managerial and financial accounting use economic and physical data in addition
to financial data.
C) Financial accounting is more highly regulated than managerial accounting.
D) Timeliness is more important in financial accounting than in managerial accounting.
13) Which of the following most exemplifies the value-added principle?
A) An ongoing process where continuous improvement is the goal.
B) A competitive management program that emphasizes quality.
C) Information gathering and reporting activities should be restricted to those activities
that add value in excess of their cost.
D) Managerial accounting information is measured in economic, physical, and financial
terms.
14) Which of the following costs would be classified as a direct cost for a company that
produces motorcycles?
