Test Bank - for Managerial Accounting, 5th Edition by Stacey Whitecotton, All Chapters 1-13 |Complete Guide A+

Test Bank for Managerial Accounting, 5th Edition by Stacey Whitecotton


Answers Included
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.




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, ⊚ true
⊚ false


8) The #bvterm #bv"big #bvdata" #bvrefers #bvto #bvthe #bvvolume, #bvvelocity, #bvand #bvveracity #bvof #bvdata.
⊚ true
⊚ false


9) Predictive #bvanalytics #bvis #bvthe #bvprocess #bvof #bvrecommending #bva #bvcourse #bvof #bvaction
#bvbased #bvupon #bvmeaningful #bvpatterns #bvand #bvinsights #bvfrom #bvcollected #bvdata.


⊚ true
⊚ false


10) Descriptive #bvanalytics #bvuses #bvpatterns #bvand #bvinsights #bvfrom #bvcollected #bvdata #bvto
#bvshow #bvwhat #bvhas #bvhappened.


⊚ true
⊚ false


11) An #bvopportunity #bvcost #bvis #bvthe #bvcost #bvof #bvnot #bvdoing #bvsomething.
⊚ true
⊚ false


12) Whether #bva #bvcost #bvis #bvtreated #bvas #bvdirect #bvor #bvindirect #bvdepends #bvon #bvwhether #bvtracing
#bvthe #bvcost #bvis #bvboth #bvpossible #bvand #bvpractical.


⊚ true
⊚ false


13) Variable #bvcosts #bvare #bvalways #bvdirect #bvcosts.
⊚ true
⊚ false


14) Fixed #bvcosts #bvstay #bvthe #bvsame, #bvon #bva #bvper-unit #bvbasis, #bvas #bvactivity #bvlevel #bvchanges.
⊚ true
⊚ false


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,15) Prime #bvcosts #bvinclude #bvdirect #bvmaterials, #bvdirect #bvlabor, #bvand #bvmanufacturing #bvoverhead.
⊚ true
⊚ false


16) All #bvmanufacturing #bvcosts #bvare #bvtreated #bvas #bvproduct #bvcosts.
⊚ true
⊚ false


17) All #bvmanufacturing #bvcosts #bvare #bvinventoriable #bvcosts.
⊚ true
⊚ false


18) A #bvcost #bvthat #bvwill #bvoccur #bvin #bvthe #bvfuture #bvand #bvdiffers #bvbetween #bvvarious
#bvalternatives #bvunder #bvconsideration #bvis #bva #bvrelevant #bvcost.


⊚ true
⊚ false


19) Managerial #bvaccounting #bvinformation #bvis #bvmandated #bvby #bvthe #bvSEC #bvand #bvother
#bvregulatory #bvagencies.


⊚ true
⊚ false


20) Managerial #bvaccounting #bvinformation #bvis #bvconsidered #bvproprietary #bvin #bvnature.
⊚ true
⊚ false


21) Opportunity #bvcosts #bvoccur #bvin #bvbusiness #bvwhen #bvresources #bvare #bvconstrained.
⊚ true
⊚ false




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, MULTIPLE #bvCHOICE #bv- #bvChoose #bvthe #bvone #bvalternative #bvthat #bvbest #bvcompletes #bvthe
#bvstatement #bvor #bvanswers #bvthe #bvquestion.


22) What #bvis #bvthe #bvprimary #bvgoal #bvof #bvaccounting?

A) To #bvset #bvlong-term #bvgoals #bvand #bvobjectives
B) To #bvarrange #bvfor #bvthe #bvnecessary #bvresources #bvto #bvachieve #bva #bvplan
C) To #bvprovide #bvinformation #bvfor #bvdecision-making
D) To #bvmotivate #bvothers #bvto #bvwork #bvtowards #bva #bvplan's #bvsuccess



23) Of #bvthe #bvfollowing #bvgroups, #bvwhich #bvis #bvthe #bvprimary #bvuser #bvof #bvmanagerial
#bvaccounting #bvinformation?




A) Investors
B) Creditors
C) Regulators
D) Managers



24) Managerial #bvaccounting, #bvas #bvcompared #bvto #bvfinancial #bvaccounting, #bvis #bvprimarily
#bvintended #bvto #bvfacilitate:




A) understanding #bvthe #bvGAAP.
B) making #bvdecisions #bvwith #bvtimely, #bvrelevant #bvinformation.
C) conducting #bvethics #bvinvestigations #bvunder #bvSOX.
D) reporting #bvresults #bvto #bvshareholders.



25) Managerial #bvaccounting #bvinformation #bvincludes #bvall #bvof #bvthe #bvfollowing #bvexcept:

A) budgets.
B) performance #bvevaluations, #bvfor #bvexample, #bvbudget-to-actual #bvreports.
C) cost #bvreports.
D) financial #bvstatements #bvprepared #bvin #bvaccordance #bvwith #bvgenerally #bvaccepted
#bvaccounting #bvprinciples.




26) Which #bvof #bvthe #bvfollowing #bvis #bvnot #bva #bvcharacteristic #bvof #bvfinancial #bvaccounting?


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