Cornerstones of Managerial Accounting 6th Edition Maryanne M Mowen Don R Hansen Dan L Heitger- Test Bank

Chapter 1 - Introduction to Managerial Accounting 1. The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referred to as decision making. ANSWER: False POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : a. True b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTJ1 QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMF-GR3D-NAUD-GPTU-CC3W-GESS-R3MB-CESU- YAMR-GOSU-NAMB-GHSU-YPDR-CI1U-E3TI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 2. The process of choosing among competing alternatives is decision making. a. True ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: Cengage Learning Testing, Powered by Cognero Page 1 b. False Chapter 1 - Introduction to Managerial Accounting STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTJT QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJW-GAAU-GA3O-G7UD-CC5G-GOSU-GPBA-CRSU- 1CJ3-GOSU-KCJS-8RSU-NP33-GCAU-EQMB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 3. Managerial accounting information is not important for not-for-profit organizations. a. True ANSWER: RATIONALE: POINTS: DIFFICULTY: False b. False Managerial accounting information is important for all types of organizations. 1 Easy QUESTION TYPETrue / False : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: FN-Reporting United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTJO QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJO-GC3D-OPMF-GE3D-K3JO-8YSU-NCTO-CESU- E3BS-GOSS-GCUF-COSS-ECBO-GAAS-N3T3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 4. Management accounting information is only used by manufacturing organizations. a. True Cengage Learning Testing, Powered by Cognero Page 2 Chapter 1 - Introduction to Managerial Accounting b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTJZ QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJU-GBUG-GQBA-8Y5D-KPJZ-GRSU-NQMR-8RSU- OPUF-GOSU-EPBU-CCSU-YP31-CA4G-KA3U-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 5. Managerial Accounting is designed primarily for internal users. a. True ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: ACCT.MOWE.16.1-2 - LO: 1-2 NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: FN-Reporting United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. Cengage Learning Testing, Powered by Cognero Page 3 Chapter 1 - Introduction to Managerial Accounting DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTJS QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMG-CC5D-KCUG-G7OU-RPUR-GRSU-QPTT-CRSS- G3UB-GOSS-RQDB-8RSS-NA31-GR5U-YPUG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 6. Managerial accounting has its emphasis on the future. a. True ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-2 - LO: 1-2 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTJI QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMB-CJ1D-K3TS-CITU-CC5B-CRSU-EA5R-8YSU- CPBT-GOSU-YPTW-8RSS-K3DD-G31G-GAUB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 7. Financial accounting is governed by GAAP. a. True ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: True 1 Easy True / False False Cengage Learning Testing, Powered by Cognero Page 4 b. False Chapter 1 - Introduction to Managerial Accounting LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: ACCT.MOWE.16.1-2 - LO: 1-2 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-02-GAAP United States - AK - AICPA: FN-Reporting United States - AK - IMA: Cost Management Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KTJW QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJS-GBTD-EQJW-GRHS-KQJT-CWSU-CA5F-CESS- R3JO-GOSU-GAT3-COSS-EQB3-GWHS-RPUG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 8. The value chain is the set of activities required to design, develop, produce, market, and deliver products and service to customers. ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : a. True b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KT1N QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJU-GYAG-G3TU-8Y4U-CAMR-CCSU-RPTO-CESU- QPDF-GOSU-EA3S-GASU-OQDB-GC5D-GATW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 9. Time is not a crucial element in all phases of the value chain. Cengage Learning Testing, Powered by Cognero Page 5 Chapter 1 - Introduction to Managerial Accounting ANSWER: False POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : ANSWER: RATIONALE: POINTS: DIFFICULTY: False a. True b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KT1B QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMD-GFTU-GQJI-GE4D-QCTW-CCSU-1C3S-CRSU- Y3TS-GOSS-KCJI-CCSU-GATU-GE4D-RCUG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 10. Activity-based costing is a less detailed approach to determining the cost of goods and services than traditional cost accounting. a. True b. False ABC costing is a more detailed approach to determining the cost of goods and services. 1 Easy QUESTION TYPETrue / False : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting DS: Features/Costs United States - AK - AICPA: FN-Decision Modeling Cengage Learning Testing, Powered by Cognero Page 6 Chapter 1 - Introduction to Managerial Accounting United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTT3 QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMD-CC4S-CPDD-CC5D-NP5B-CRSS-EPMD-CRSU- RCMR-GOSU-NP3A-CASU-NQMD-GE5D-CCBW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 11. Excellent customer service is an example of a value-added activity. a. True ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting DS: Features/Costs United States - AK - AICPA: FN-Measurement - AICPA: FN-Measurement United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTTA QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJW-8BTG-KA31-CTOU-CQBI-CWSS-RCJI-CRSS- GP3O-GOSU-O3DG-CRSU-CQBO-GTUG-KPBS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 12. A cost accountant would normally occupy a staff position within an organization. a. True b. False ANSWER: True Cengage Learning Testing, Powered by Cognero Page 7 Chapter 1 - Introduction to Managerial Accounting POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-4 - LO: 1-4 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KT1G QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMG-CT1G-EC5B-CTTU-EAMN-GRSS-C3DG-8YSS- EC5D-GOSU-OC33-8YSS-EPMB-GO3G-E3UD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 13. Positions that have direct responsibility for the basic objectives of an organization are referred to as line positions. a. True ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-4 - LO: 1-4 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM Cengage Learning Testing, Powered by Cognero Page 8 Chapter 1 - Introduction to Managerial Accounting DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KT1F QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMR-CPTG-CA5F-GW4U-KCBA-GASU-OQDB-8RSU- YP3O-GOSU-YAMN-GASU-GCJW-GE3S-CATW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 14. Virtually all managerial accounting practices were developed to assist managers in maximizing profits. a. True ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-5 - LO: 1-5 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KT1R QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJ1-8YHG-GQDF-GC5U-GATT-GHSU-CP33-CESU- OQBS-GOSS-RAMB-GRSU-CPJA-GY3S-CCDG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 15. The belief that each member of a group bears no responsibility for the well-being of other members is a common principle underlying all ethical systems. a. True b. False ANSWER: False RATIONALE: The belief that each member of a group bears some responsibility for the well-being of other members is a common principle underlying all ethical systems. POINTS: 1 DIFFICULTY: Easy QUESTION TYPE True / False : Cengage Learning Testing, Powered by Cognero Page 9 Chapter 1 - Introduction to Managerial Accounting HAS VARIABLES:False LEARNING OBJE ACCT.MOWE.16.1-5 - LO: 1-5 CTIVES: NATIONAL STAN United States - BUSPROG: Ethics DARDS: STATE STANDAR United States - AK - ACBSP: APC-01-Purpose DS: United States - AK - AICPA: BB-Resource Management United States - AK - IMA: Business Applications KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATE MODIFIE 11/4/2014 8:59 AM D: QUESTION ID: JFND-GO4F-EC4U-KT1D QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJT-CE5D-YC3O-GR3U-GAUG-8RSS-CQMN-CRSU- G3JT-GOSS-EPTI-CWSU-CPBZ-G71D-OCUR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 16. The four emphasized areas of the CMA examination reflect the needs of managerial accounting and highlights that managerial accounting has more of an interdisciplinary flavor than other areas of accounting. ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPETrue / False : a. True b. False HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-6 - LO: 1-6 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTTU Cengage Learning Testing, Powered by Cognero Page 10 Chapter 1 - Introduction to Managerial Accounting QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJW-CI1D-1ATS-COHD-N3TO-CWSS-EPUF-CESU- KCBS-GOSS-CA5G-GRSS-C3BA-GYAG-CATW-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 17. The purpose of the Certificate in Public Accounting is to provide minimal professional qualification for external auditors. ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: a. True b. False True 1 Easy True / False False ACCT.MOWE.16.1-6 - LO: 1-6 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KTT1 QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJT-CW3D-1QDG-GIOS-NAMD-CCSU-RQMN-CRSS- RPDD-GOSS-RATU-CWSU-1AUD-GPOU-CQMN-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 18. The detailed formulation of action to achieve a particular end is the management activity called_____________. ANSWER: planning. POINTS: 1 DIFFICULTY: Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Performance Measurement KEYWORDS: Bloom's: Knowledge NOTES: 1 min. Cengage Learning Testing, Powered by Cognero Page 11 Chapter 1 - Introduction to Managerial Accounting DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTTT QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMN-8RHD-KCUF-GBUD-CC5G-COSU-RPTZ-8YSU- G3TZ-GOSU-QQJ3-GYSU-YPBW-CO5S-RA3U-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 19. ______________________________ is the provision of accounting information for a company’s internal users. ANSWER: POINTS: DIFFICULTY: Managerial accounting 1 Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTTO QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJ1-COHG-C3BT-GAAU-CPJW-GASU-1AJI-CESU- OPBZ-GOSU-GC5B-8YSS-EQJO-CE3D-KQJI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 20. The process of choosing among competing alternatives is called ________________________. ANSWER: POINTS: DIFFICULTY: decision making 1 Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: Cengage Learning Testing, Powered by Cognero Page 12 Chapter 1 - Introduction to Managerial Accounting NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Decision Analysis KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTTZ QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJT-8Y3D-OQBW-CRAD-NATW-GCSU-OCUF-8RSU- N3BW-GOSU-CATT-GESU-1CBT-CE3G-GQJI-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 21. The managerial activity of monitoring a plan’s implementation and taking corrective action as needed is referred to as ______________. ANSWER: controlling POINTS: 1 DIFFICULTY: Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Performance Measurement KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTTS QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMN-8B1U-KAMF-GA5U-1AUN-GYSU-GP3U-CESU- GQJZ-GOSU-YPT3-CRSU-GP3S-CR5U-RAUR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 22. The managerial accounting system produces information for __________ users. ANSWER: internal Cengage Learning Testing, Powered by Cognero Page 13 Chapter 1 - Introduction to Managerial Accounting POINTS: 1 DIFFICULTY: Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-2 - LO: 1-2 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Performance Measurement KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTTI QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJA-GT1G-RA3S-GH5U-QAJO-CWSS-GPBS-CESU- R3T3-GOSS-ECB3-CWSU-OCDG-GEAD-RC5F-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 23. ____________________ is primarily concerned with producing information for external users. ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: Financial accounting 1 Easy Completion False ACCT.MOWE.16.1-2 - LO: 1-2 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KTTW QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJS-GO4S-CC5G-GOHU-NA3O-CASU-EPDB-8YSU- C3JO-GOSS-RCUB-COSS-GAMD-8YAU-YC5N-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE Cengage Learning Testing, Powered by Cognero Page 14 Chapter 1 - Introduction to Managerial Accounting 24. Managerial accounting strongly emphasizes providing information about _________________. ANSWER: POINTS: DIFFICULTY: future events 1 Moderate QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-2 - LO: 1-2 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO4N QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJA-GE4S-KAMN-8RHS-KQJ1-CASU-RPDB-CRSU- CAJ1-GOSU-QA33-CASS-R3JW-GJTU-CCUF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 25. The _____________________ is the set of activities required to design, develop, produce, market and deliver products and services as well as provide support services to customers. ANSWER: POINTS: DIFFICULTY: value chain 1 Moderate QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - DARDS: STATE STANDAR United States - DS: Features/Costs United States - United States - BUSPROG: Analytic AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting AK - AICPA: BB-Resource Management AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. Cengage Learning Testing, Powered by Cognero Page 15 Chapter 1 - Introduction to Managerial Accounting DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO4B QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJO-CEAS-RPTA-GAHG-RAUN-CRSS-KPBU-8YSU- GQBA-GOSS-CCBT-8YSU-QATS-CC5G-EA3Z-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 26. __________________________ organizes costs according to the value chain and collects both financial and nonfinancial information. ANSWER: POINTS: DIFFICULTY: Lean accounting 1 Moderate QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting DS: Features/Costs United States - AK - AICPA: BB-Industry United States - AK - AICPA: BB-Resource Management United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO33 QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJI-CO3U-YA31-GTUG-CCTO-GHSS-EATA-8YSU- NATT-GOSU-YCJU-CRSU-N3TW-GY3S-EC3O-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 27. __________________________________________ is a management philosophy in which manufacturers strive to create an environment that will enable workers to manufacture perfect (zero-defect) products. ANSWER: POINTS: DIFFICULTY: Total quality management 1 Moderate QUESTION TYPECompletion : HAS VARIABLES:False Cengage Learning Testing, Powered by Cognero Page 16 Chapter 1 - Introduction to Managerial Accounting LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - DARDS: STATE STANDAR United States - DS: Features/Costs United States - United States - BUSPROG: Analytic AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting AK - AICPA: BB-Resource Management AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO3A QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMG-CCAG-C3UG-8B1G-GCMD-GRSU-1CDN-CESS- K3TW-GOSU-YPBA-CASU-O3J3-CIOU-YQDG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 28. _____________________________ is the continual search for ways to increase the overall efficiency and productivity of activities by reducing waste, increasing quality and managing costs. ANSWER: POINTS: DIFFICULTY: Continuous improvement 1 Moderate QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - DARDS: STATE STANDAR United States - DS: Features/Costs United States - United States - BUSPROG: Analytic AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting AK - AICPA: BB-Resource Management AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO4G QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJU-CA5D-NP3I-CI1D-KCTT-CWSU-Y3TI-8YSS-RQDD- GOSU-OA5N-GWSS-ECMF-8Y3G-R3MF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 29. _________ is a crucial element in all phases of the value chain. Cengage Learning Testing, Powered by Cognero Page 17 Chapter 1 - Introduction to Managerial Accounting ANSWER: Time POINTS: 1 DIFFICULTY: Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting DS: Features/Costs United States - AK - AICPA: FN-Measurement - AICPA: FN-Measurement United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO4F QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMR-G3OS-NAJI-GH5D-Q3BI-GRSS-CQB1-CRSS- C3MF-GOSU-QPJI-CRSS-C3BU-GF1G-C3TT-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 30. The________________supervises all accounting functions and reports directly to the general manager and chief operating officer (COO). ANSWER: controller POINTS: 1 DIFFICULTY: Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-4 - LO: 1-4 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: BB-Critical Thinking United States - AK - IMA: Business Applications KEYWORDS: Bloom's: Knowledge NOTES: 1 min. Cengage Learning Testing, Powered by Cognero Page 18 Chapter 1 - Introduction to Managerial Accounting DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO4R QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJZ-GAHD-G3JA-CC4D-KCTU-CESU-RPDF-CESS- NPUN-GOSU-KQJS-GESU-CPJA-GR3U-O3JS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 31. Positions that are supportive in nature and have only indirect responsibility for an organization’s basic objectives are called ________________________. ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: staff positions 1 Easy Completion False ACCT.MOWE.16.1-4 - LO: 1-4 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KO4D QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMB-COAD-Q3UB-8R3U-CAMN-GCSU-Q3TT-8RSU- G3JU-GOSS-E3JI-GASU-QCUB-8YHD-OPTU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 32. The ____________________ is responsible for the finance function. ANSWER: treasurer POINTS: 1 DIFFICULTY: Easy QUESTION TYPECompletion : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-4 - LO: 1-4 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions Cengage Learning Testing, Powered by Cognero Page 19 Chapter 1 - Introduction to Managerial Accounting United States - AK - AICPA: BB-Industry United States - AK - AICPA: BB-Resource Management United States - AK - IMA: Business Applications KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO3U QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMF-GCAS-KAMD-CAHU-13JS-CESU-QQJT-8RSU- OAJW-GOSU-O3BS-GESS-RAMD-CI1G-NC3Z-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 33. In June 2002, Congress passed the____________________________________ in response to financial scandals such as Enron. ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: LEARNING OBJECT IVES: NATIONAL STANDA RDS: STATE STANDARDS : KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: Sarbanes-Oxley Act (SOX) 1 Easy Completion False ACCT.MOWE.16.1-5 - LO: 1-5 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-10-Internal Control United States - AK - AICPA: BB-Legal United States - AK - IMA: FSA Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KO31 QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJS-GPUD-EQDR-CW4U-NQDB-GCSU-GPB1-8YSU- 1A5D-GOSU-YPT1-CASU-E3BT-CTUD-OPDR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 34. ________________________ involves choosing actions that are right, proper, and just. ANSWER: Ethical behavior POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: Completion HAS VARIABLES: False LEARNING OBJEC ACCT.MOWE.16.1-5 - LO: 1-5 TIVES: Cengage Learning Testing, Powered by Cognero Page 20 Chapter 1 - Introduction to Managerial Accounting NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: United States - BUSPROG: Ethics United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KO3T QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJO-8F1S-K3TI-GHAS-RCBZ-GYSS-RCMB-CESS-NQBI- GOSS-CQBI-GASU-YPBT-GC5S-RCB1-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 35. To promote ethical behavior by managers and employees, organizations commonly establish a__________________________. ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: code of conduct 1 Moderate Completion False ACCT.MOWE.16.1-5 - LO: 1-5 United States - BUSPROG: Ethics United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KO3O QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMD-GAHU-N3MR-CCHD-K3BS-CWSS-GAMB-8RSU- 1CT1-GOSS-NQBA-CESU-OQJZ-GPTU-C3MR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 36. Only a _________________________ is permitted to serve as an external auditor. ANSWER: Certified Public Accountant (CPA) POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: Completion HAS VARIABLES: False LEARNING OBJECTI ACCT.MOWE.16.1-6 - LO: 1-6 Cengage Learning Testing, Powered by Cognero Page 21 Chapter 1 - Introduction to Managerial Accounting VES: NATIONAL STANDA RDS: STATE STANDARDS: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: FSA Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KO3Z QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMN-GW5D-ECTA-CJTU-CAMN-GYSU-GQJO-8YSS- KC3U-GOSU-NP3A-GESS-CC3Z-GO4U-1AT1-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 37. A __________________________ has passed a comprehensive examination designed to ensure technical competence and has two years of experience. ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: Certified Internal Auditor CIA 1 Moderate Completion False ACCT.MOWE.16.1-6 - LO: 1-6 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KO3S QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJS-GY4G-NCDF-CO4D-YQMN-8RSS-ECB3-8RSU- KQMN-GOSS-GA5F-GCSU-G3MD-GPUD-CCUG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 38. Which of the following is not an objective of managerial accounting? a. To prepare external reports for investors, creditors, government agencies, and other outside users. b. To provide information for costing of services, products, and other objects of interest to management. c. To provide information for planning, controlling, evaluating and continuous improvement. d. To provide information for decision making. ANSWER: a Cengage Learning Testing, Powered by Cognero Page 22 Chapter 1 - Introduction to Managerial Accounting POINTS: 1 DIFFICULTY: Easy QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Comprehension NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO3I QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMG-GE3G-N3BO-GFOS-E3DN-8RSS-E3BS-CRSU- KPBU-GOSU-CPB1-8RSU-YAUR-GBOU-YQMD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 39. Which of the following is an example of the management activity referred to as planning? a. b. c. d. ANSWER: POINTS: Developing a strategy for disposing of hazardous waste. The decision to eliminate an unprofitable segment of an organization. The decision to outsource an organization's payroll processing. All of these are correct a 1 DIFFICULTY: Easy QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Comprehension NOTES: 1 min. Cengage Learning Testing, Powered by Cognero Page 23 Chapter 1 - Introduction to Managerial Accounting DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KO3W QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMG-8Y4G-RAUR-GBUG-KP3W-GESU-K3TI-CRSU- QAT3-GOSU-Q3MN-GASU-YCJW-CW3U-G3UG-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 40. Developing a company strategy for responding to anticipated new markets is an example of ANSWER: POINTS: DIFFICULTY: a. b. c. d. planning. controlling. decision making. all of these are correct. a 1 Moderate QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTNN QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJA-GOAD-RCDB-CE3S-NPBT-GHSU-Q3J3-8YSU- OATT-GOSU-OCMD-GOSS-CQDF-CO3S-EQMB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 41. Investigating production variances and adjusting the production process is an example of a. planning. b. controlling. c. decision making. d. all of these. ANSWER: b Cengage Learning Testing, Powered by Cognero Page 24 Chapter 1 - Introduction to Managerial Accounting POINTS: 1 DIFFICULTY: Moderate QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-1 - LO: 1-1 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-26-Management Functio - ACBSP: APC-26-Management DS: Functions United States - AK - AICPA: FN-Risk Analysis United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTNB QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMN-CAHD-13DG-G7UD-RPDD-CCSU-1CJO-8YSU- RPUD-GOSU-1AJO-GESU-RAMD-GOAU-YCDD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 42. The primary objective of managerial accounting is a. to provide stockholders and potential investors with useful information for decision making. b. to provide banks and other creditors with information useful in making credit decisions. c. to provide management with information useful for planning and control of operations. d. to provide the Internal Revenue Service with information about taxable income. ANSWER: c POINTS: 1 DIFFICULTY: Moderate QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-2 - LO: 1-2 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. Cengage Learning Testing, Powered by Cognero Page 25 Chapter 1 - Introduction to Managerial Accounting DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTB3 QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMG-G7TG-CA5G-GE5G-CP5B-CCSU-ECT1-CRSS- NATU-GOSU-QA31-GESU-OQDR-CTUG-GC33-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 43. Managerial accounting a. b. c. d. ANSWER: POINTS: is primarily for external users. has no mandatory rules. provides information based on historical information. must adhere to GAAP. b 1 DIFFICULTY: Easy QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-2 - LO: 1-2 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Business Applications KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTBA QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJZ-8YAG-G3T3-GHAU-EC5B-8RSS-EPTO-CRSS- KCBW-GOSS-NPJI-8YSS-RA3A-GA5D-GC3W-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 44. Managerial accounting reports are prepared a. according to GAAP guidelines. b. to meet the needs of decision makers within the firm. c. for external users. d. all of these are correct ANSWER: b Cengage Learning Testing, Powered by Cognero Page 26 Chapter 1 - Introduction to Managerial Accounting POINTS: 1 DIFFICULTY: Easy QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-2 - LO: 1-2 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTNG QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMG-GI1D-GPBA-GHHU-RQBS-GASS-KC3Z-8YSU- 1PMD-GOSU-EPMR-GCSU-RQBO-8Y3D-CPMD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 45. Financial accounting a. is concerned with the information about the firm as a whole. b. has to adhere to GAAP policies. c. focuses on external users. d. all of these are correct ANSWER: POINTS: DIFFICULTY: QUESTIONTYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: d 1 Easy MultipleChoice False ACCT.MOWE.16.1-2 - LO: 1-2 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: FN-Reporting United States - AK - IMA: Cost Management Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM Cengage Learning Testing, Powered by Cognero Page 27 Chapter 1 - Introduction to Managerial Accounting QUESTION ID: JFND-GO4F-EC4U-KTNF QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMD-GCAU-YQJT-GEHD-G3BT-GYSU-13B1-CESU- 13TW-GOSU-GQMG-8RSS-CPJ1-8R4D-QPBU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 46. Which of the following would not be an example of a value-added activity? a. b. c. d. ANSWER: POINTS: DIFFICULTY: timely delivery of products offering the customer a variety of products storage of finished products excellent customer service c 1 Easy QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTNR QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJA-GRHG-KCMF-GW3G-NCBA-GHSS-CC3W-CESS- R3BT-GOSU-ECUB-CRSS-GQJW-CF1S-CQB1-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 47. Total quality a. b. c. d. ANSWER: POINTS: DIFFICULTY: management emphasizes zero defects. continuous improvement. elimination of waste. all of these are correct. d 1 Moderate QUESTION TYPEMultiple Choice : Cengage Learning Testing, Powered by Cognero Page 28 Chapter 1 - Introduction to Managerial Accounting HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: FN-Decision Modeling United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTND QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJ1-C3TU-O3DD-C31D-QA3O-8RSS-KPDB-CRSU-G3J1- GOSU-QAJA-GASS-GCT3-GJTG-N3BO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 48. Activity-based costing a. strives to create an environment that will enable workers to manufacture zero-defect products. b. is the process of choosing among competing alternatives. c. was established in response to financial scandals. d. encourages process-value analysis. ANSWER: d POINTS: 1 DIFFICULTY: Moderate QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-3 - LO: 1-3 CTIVES: NATIONAL STAN United States - DARDS: STATE STANDAR United States - DS: Features/Costs United States - United States - BUSPROG: Analytic AK - ACBSP: APC-27-Managerial Account - ACBSP: APC-27-Managerial Accounting AK - AICPA: FN-Decision Modeling AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: Cengage Learning Testing, Powered by Cognero Page 29 Chapter 1 - Introduction to Managerial Accounting QUESTION ID: JFND-GO4F-EC4U-KTBU QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJ1-8R3D-YAJS-GIOU-N3UN-GRSU-NCMN-CRSU- NCJI-GOSU-QPUB-GESS-RC3W-GFUD-O3JS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 49. Which of the following would normally occupy a line position? a. b. c. d. DIFFICULTY: staff accountant accounting manager vice-president of marketing treasurer c 1 Moderate ANSWER: POINTS: QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-4 - LO: 1-4 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Resource Management United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Comprehension NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTB1 QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMF-GIUG-GQMG-CIOS-NPT3-GESU-C3JO-CRSU- EQJ3-GOSS-K3UN-CESS-E3BI-GT1S-NC3Z-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 50. Which of the a. b. c. d. following would normally occupy a staff position? assembly worker cost accounting manager factory manager all of these b 1 Moderate Multiple Choice False ANSWER: POINTS: DIFFICULTY: QUESTION TYPE: HAS VARIABLES: Cengage Learning Testing, Powered by Cognero Page 30 Chapter 1 - Introduction to Managerial Accounting LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: ACCT.MOWE.16.1-4 - LO: 1-4 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management Bloom's: Comprehension 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KTBT QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMMF-CJOU-YATU-GHHG-KCBS-GRSU-1QBI-CRSU- C3DB-GOSS-RA5B-CESU-1PT1-GH5G-CP3A-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 51. Which of the following would occupy a line position in a hospital? a. b. c. d. DIFFICULTY: QUESTION TYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: manager of the cafeteria hospital administrator chief of surgery none of these c 1 Moderate Multiple Choice False ACCT.MOWE.16.1-4 - LO: 1-4 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management Bloom's: Comprehension 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KTBO ANSWER: POINTS: QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJT-CWAS-GCBA-CE4D-KPJW-CESU-1CTW-CESU- O3MG-GOSS-GPDR-GOSU-ECB1-CT1D-YQJS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 52. The controller of an organization participates in a. planning. b. controlling. c. decision making. Cengage Learning Testing, Powered by Cognero Page 31 Chapter 1 - Introduction to Managerial Accounting d. QUESTION TYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: all of these are correct d 1 Easy Multiple Choice False ACCT.MOWE.16.1-4 - LO: 1-4 United States - BUSPROG: Analytic United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KTBZ ANSWER: POINTS: DIFFICULTY: QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJU-CR3S-KQBI-CRAG-KCDG-CWSU-QPBO-CESS- C3UR-GOSS-GCBW-CCSU-1PUD-CJTD-NPUF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 53. The objective of profit maximization a. should be the only goal of an organization. b. is an objective of financial accounting but not managerial accounting. c. should be achieved through legal and ethical means. d. should outweigh the goal of product quality. ANSWER: POINTS: DIFFICULTY: QUESTIONTYPE: HAS VARIABLES: LEARNING OBJEC TIVES: NATIONAL STAND ARDS: STATE STANDARD S: KEYWORDS: NOTES: DATE CREATED: DATE MODIFIED: QUESTION ID: c 1 Challenging MultipleChoice False ACCT.MOWE.16.1-5 - LO: 1-5 United States - BUSPROG: Ethics United States - AK - ACBSP: APC-01-Purpose United States - AK - AICPA: BB-Legal United States - AK - IMA: Business Applications Bloom's: Knowledge 1 min. 11/4/2014 8:59 AM 11/4/2014 8:59 AM JFND-GO4F-EC4U-KTBS Cengage Learning Testing, Powered by Cognero Page 32 Chapter 1 - Introduction to Managerial Accounting QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJI-GWAD-1AJA-CO4S-CCBU-8RSU-OQJA-8RSS- NQJU-GOSS-GPMN-GHSU-NAJZ-CCHU-EP3A-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 54. The standards of ethical conduct for managerial accountants include a. b. c. d. ANSWER: POINTS: competence and performance. integrity and respect for others. confidentiality, confidence, integrity, and observance. competence, confidentiality, integrity, and credibility. d 1 DIFFICULTY: Moderate QUESTION TYPEMultiple Choice : HAS VARIABLES:False LEARNING OBJEACCT.MOWE.16.1-5 - LO: 1-5 CTIVES: NATIONAL STAN United States - BUSPROG: Analytic DARDS: STATE STANDAR United States - AK - ACBSP: APC-25-Managerial Charact - ACBSP: APC-25-Managerial DS: Characteristics/Terminology United States - AK - AICPA: BB-Industry United States - AK - IMA: Cost Management KEYWORDS: Bloom's: Knowledge NOTES: 1 min. DATE CREATED:11/4/2014 8:59 AM DATEMODIFIE 11/4/20148:59AM D: QUESTION ID: JFND-GO4F-EC4U-KTBI QUESTION G GCID-E7BW-1TBP-CW4U-EQMR-GYAD-CCJZ-CFTN-4CJO-GRHN-4QMD-GE4N-4C33-8RHN- LOBAL ID: 4AUB-CIOU-OC5R-C3DI-GWN8-EPRW-EMJW-8RAU-GCUB-GYAD-KAJO-CASU-GPDF-CRSU- YPMD-GOSU-1P3A-GHSU-O3JZ-CEAU-EQMR-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE 55. Which of the following areas is not emphasized on the CMA examination? a. b. c. d. ANSWER: POINTS: DIFFICULTY: external auditing and business law economics, finance, and management decision analysis and information systems financial accounting and reporting a 1 Moderate QUESTION TYPEMultiple Choice : Cengage Learning Testing, Powered by Cognero Page 33 cornerstone accounting - test bank, cornerstone test answers, accounting test bank, cornerstone accounting and tax services, basic accounting test bank pdf,