TESTVBANKVFOR
FundamentalVManagerialVAccountingVConcepts,V10thVEditionVbyVEdmonds
ChapterV1-14
AnswersVIncluded ✅
ChapterV01V10e
1) WhichVofVtheVfollowingVitemsVareVrepresentativeVofVmanagerialVaccounting?
Note:VCheckVallVthatVapply.
A) FinancialVstatementVinVaccordanceVwithVGAAP
B) MonthlyVsalesVreportsVusedVinternallyVtoVallocateVfundsVtoVdivisions
C) QuarterlyVfinancialVinformationVsentVtoVinvestors
D) AuditedVfinancialVstatementsVsubmittedVtoVbankersVwithVcreditVapplication
E) BudgetVprojectionsVusedVtoVmakeVlogisticVdecisions
2) WhichVofVtheVfollowingVcostsVareVnotVincludedVinVtheVcostVofVmanufacturingVaVproduct?
Note:VCheckVallVthatVapply.
A) Marketing
B) ProductionVworkers'Vwages
C) FactoryVjanitor'sVwages
D) CEOVsalary
E) DepreciationVonVmanufacturingVequipment
3) WhichVofVtheVfollowingVisVconsideredVaVdownstreamVcost?
Note:VCheckVallVthatVapply.
A) ResearchVandVdevelopment
B) ProductionVwages
C) AdvertisingVcost
D) WarrantyVcost
E) CostVofVinternetVinVmanufacturingVplant
4) WhichVofVtheVfollowingVareVexamplesVofVinventoryVholdingVcosts?
Note:VCheckVallVthatVapply.
, A) CostVofVwarehouseVspace
B) CostVofVshippingVinventoryVtoVcustomers
C) ResearchVandVdevelopmentVcost
D) CostVofVsupervisingVinventory
E) InventoryVspoilageVcost
5) AshleyVBradshawVisVtheVmanagerVofVoneVdepartmentVinVaVlargeVstore.VInVthisVc
apacity,VwhichVofVtheVfollowingVkindsVofVinformationVwouldVsheVbeVinterestedVin?
A) EconomicVdata
B) FinancialVdata
C) NonfinancialVdata
D) Financial,Veconomic,VandVnonfinancialVdata
6) AllVofVtheVfollowingVareVfeaturesVofVmanagerialVaccountingexcept:
A) informationVisVprovidedVprimarilyVtoVinsidersVsuchVasVmanagers.
B) informationVincludesVeconomicVandVnon-financialVdataVasVwellVasVfinancialVdata.
C) informationVisVcharacterizedVbyVobjectivity,Vreliability,Vconsistency,VandVaccuracy.
D) informationVisVreportedVcontinuouslyVwithVaVpresentVorVfutureVorientation.
7) ChooseVtheVanswerVthatVisnotVaVdistinguishingVcharacteristicVofVfinancialVacco
untingVinformation.
A) ItVisVglobalVinformationVthatVreflectsVtheVperformanceVofVtheVwholeVcompany.
B) ItVisVfocusedVprimarilyVonVtheVfuture.
C) ItVisVmoreVconcernedVwithVfinancialVdataVthanVphysicalVorVeconomicVdata.
D) ItVisVmoreVhighlyVregulatedVthanVmanagerialVaccountingVinformation.
,8) ManagerialVaccountingVinformationVisVlimitedVorVrestrictedVbyVwhichVofVtheVfoll
owingVauthoritiesVorVprinciples?
A) SecuritiesVandVExchangeVCommission
B) GenerallyVAcceptedVAccountingVPrinciples
C) ManagerialVAccountingVStandardsVBoard
D) Value-AddedVPrinciple
9) SelectVtheincorrectVstatementVregardingVtheVrelationshipVbetweenVtypeVofVuserVandVt
ypeVofVinformation.
A) MiddleVmanagersVneedVmoreVnonfinancial,VorVoperationalVdataVthanVdoV
seniorVexecutives.
B) AssemblyVlineVsupervisorsVneedVmoreVimmediateVfeedbackVonVperformanceVth
anVdoVseniorVexecutives.
C) SeniorVexecutivesVneedVlessVaggregatedVinformationVthanVdoVlower-levelVmanagers.
D) SeniorVexecutivesVuseVgeneralVeconomicVinformationVasVwellVasVfinancialVinformation.
10) WhichVgroupVwouldVuseVmanagerialVaccountingVdataVofVXYVCompany?
A) Stockholders
B) Managers
C) Executives
D) BothVmanagersVandVexecutives
E) AllVofVtheVgroupsVwouldVuseVmanagerialVaccountingVdata
11) WhichVofVtheVfollowingVisVaVfeatureVofVmanagerialVaccountingVinformation?
, A) InformationVisVnotVdistributedVtoVtheVpublic
B) InformationVreportsVonVtheVcompanyVasVaVwhole
C) InformationVisVfocusedVonVtheVpast
D) InformationVisVreportedVannually
12) SelectVthecorrectVstatementVregardingVmanagerialVandVfinancialVaccounting.
A) UsersVofVmanagerialVaccountingVinformationVdesireVgreaterVaggregationVthanVdo
VusersVofVfinancialVaccountingVinformation.
B) BothVmanagerialVandVfinancialVaccountingVuseVeconomicVandVphysicalVdataVinVa
dditionVtoVfinancialVdata.
C) FinancialVaccountingVisVmoreVhighlyVregulatedVthanVmanagerialVaccounting.
D) TimelinessVisVmoreVimportantVinVfinancialVaccountingVthanVinVmanagerialVaccounting.
13) WhichVofVtheVfollowingVmostVexemplifiesVtheVvalue-addedVprinciple?
A) AnVongoingVprocessVwhereVcontinuousVimprovementVisVtheVgoal.
B) AVcompetitiveVmanagementVprogramVthatVemphasizesVquality.
C) InformationVgatheringVandVreportingVactivitiesVshouldVbeVrestrictedVtoVthoseVacti
vitiesVthatVaddVvalueVinVexcessVofVtheirVcost.
D) ManagerialVaccountingVinformationVisVmeasuredVinVeconomic,Vphysical,VandVfinancial
terms.
14) WhichVofVtheVfollowingVcostsVwouldVbeVclassifiedVasVaVdirectVcostVforVaVcomp
anyVthatVproducesVmotorcycles?
FundamentalVManagerialVAccountingVConcepts,V10thVEditionVbyVEdmonds
ChapterV1-14
AnswersVIncluded ✅
ChapterV01V10e
1) WhichVofVtheVfollowingVitemsVareVrepresentativeVofVmanagerialVaccounting?
Note:VCheckVallVthatVapply.
A) FinancialVstatementVinVaccordanceVwithVGAAP
B) MonthlyVsalesVreportsVusedVinternallyVtoVallocateVfundsVtoVdivisions
C) QuarterlyVfinancialVinformationVsentVtoVinvestors
D) AuditedVfinancialVstatementsVsubmittedVtoVbankersVwithVcreditVapplication
E) BudgetVprojectionsVusedVtoVmakeVlogisticVdecisions
2) WhichVofVtheVfollowingVcostsVareVnotVincludedVinVtheVcostVofVmanufacturingVaVproduct?
Note:VCheckVallVthatVapply.
A) Marketing
B) ProductionVworkers'Vwages
C) FactoryVjanitor'sVwages
D) CEOVsalary
E) DepreciationVonVmanufacturingVequipment
3) WhichVofVtheVfollowingVisVconsideredVaVdownstreamVcost?
Note:VCheckVallVthatVapply.
A) ResearchVandVdevelopment
B) ProductionVwages
C) AdvertisingVcost
D) WarrantyVcost
E) CostVofVinternetVinVmanufacturingVplant
4) WhichVofVtheVfollowingVareVexamplesVofVinventoryVholdingVcosts?
Note:VCheckVallVthatVapply.
, A) CostVofVwarehouseVspace
B) CostVofVshippingVinventoryVtoVcustomers
C) ResearchVandVdevelopmentVcost
D) CostVofVsupervisingVinventory
E) InventoryVspoilageVcost
5) AshleyVBradshawVisVtheVmanagerVofVoneVdepartmentVinVaVlargeVstore.VInVthisVc
apacity,VwhichVofVtheVfollowingVkindsVofVinformationVwouldVsheVbeVinterestedVin?
A) EconomicVdata
B) FinancialVdata
C) NonfinancialVdata
D) Financial,Veconomic,VandVnonfinancialVdata
6) AllVofVtheVfollowingVareVfeaturesVofVmanagerialVaccountingexcept:
A) informationVisVprovidedVprimarilyVtoVinsidersVsuchVasVmanagers.
B) informationVincludesVeconomicVandVnon-financialVdataVasVwellVasVfinancialVdata.
C) informationVisVcharacterizedVbyVobjectivity,Vreliability,Vconsistency,VandVaccuracy.
D) informationVisVreportedVcontinuouslyVwithVaVpresentVorVfutureVorientation.
7) ChooseVtheVanswerVthatVisnotVaVdistinguishingVcharacteristicVofVfinancialVacco
untingVinformation.
A) ItVisVglobalVinformationVthatVreflectsVtheVperformanceVofVtheVwholeVcompany.
B) ItVisVfocusedVprimarilyVonVtheVfuture.
C) ItVisVmoreVconcernedVwithVfinancialVdataVthanVphysicalVorVeconomicVdata.
D) ItVisVmoreVhighlyVregulatedVthanVmanagerialVaccountingVinformation.
,8) ManagerialVaccountingVinformationVisVlimitedVorVrestrictedVbyVwhichVofVtheVfoll
owingVauthoritiesVorVprinciples?
A) SecuritiesVandVExchangeVCommission
B) GenerallyVAcceptedVAccountingVPrinciples
C) ManagerialVAccountingVStandardsVBoard
D) Value-AddedVPrinciple
9) SelectVtheincorrectVstatementVregardingVtheVrelationshipVbetweenVtypeVofVuserVandVt
ypeVofVinformation.
A) MiddleVmanagersVneedVmoreVnonfinancial,VorVoperationalVdataVthanVdoV
seniorVexecutives.
B) AssemblyVlineVsupervisorsVneedVmoreVimmediateVfeedbackVonVperformanceVth
anVdoVseniorVexecutives.
C) SeniorVexecutivesVneedVlessVaggregatedVinformationVthanVdoVlower-levelVmanagers.
D) SeniorVexecutivesVuseVgeneralVeconomicVinformationVasVwellVasVfinancialVinformation.
10) WhichVgroupVwouldVuseVmanagerialVaccountingVdataVofVXYVCompany?
A) Stockholders
B) Managers
C) Executives
D) BothVmanagersVandVexecutives
E) AllVofVtheVgroupsVwouldVuseVmanagerialVaccountingVdata
11) WhichVofVtheVfollowingVisVaVfeatureVofVmanagerialVaccountingVinformation?
, A) InformationVisVnotVdistributedVtoVtheVpublic
B) InformationVreportsVonVtheVcompanyVasVaVwhole
C) InformationVisVfocusedVonVtheVpast
D) InformationVisVreportedVannually
12) SelectVthecorrectVstatementVregardingVmanagerialVandVfinancialVaccounting.
A) UsersVofVmanagerialVaccountingVinformationVdesireVgreaterVaggregationVthanVdo
VusersVofVfinancialVaccountingVinformation.
B) BothVmanagerialVandVfinancialVaccountingVuseVeconomicVandVphysicalVdataVinVa
dditionVtoVfinancialVdata.
C) FinancialVaccountingVisVmoreVhighlyVregulatedVthanVmanagerialVaccounting.
D) TimelinessVisVmoreVimportantVinVfinancialVaccountingVthanVinVmanagerialVaccounting.
13) WhichVofVtheVfollowingVmostVexemplifiesVtheVvalue-addedVprinciple?
A) AnVongoingVprocessVwhereVcontinuousVimprovementVisVtheVgoal.
B) AVcompetitiveVmanagementVprogramVthatVemphasizesVquality.
C) InformationVgatheringVandVreportingVactivitiesVshouldVbeVrestrictedVtoVthoseVacti
vitiesVthatVaddVvalueVinVexcessVofVtheirVcost.
D) ManagerialVaccountingVinformationVisVmeasuredVinVeconomic,Vphysical,VandVfinancial
terms.
14) WhichVofVtheVfollowingVcostsVwouldVbeVclassifiedVasVaVdirectVcostVforVaVcomp
anyVthatVproducesVmotorcycles?
