Test Bank for Managerial Accounting, 5th Edition by Stacey Whitecotton
#z #z #z #z #z #z #z #z #z
Answers Included
#z
Chapter 01 #z
5e
#z
TRUE/FALSE #z- #zWrite #z'T' #zif #zthe #zstatement #zis #ztrue #zand #z'F' #zif #zthe #zstatement #zis #zfalse.
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.
1
, ⊚ true
⊚ false
8) The #zterm #z"big #zdata" #zrefers #zto #zthe #zvolume, #zvelocity, #zand #zveracity #zof #zdata.
⊚ true
⊚ false
9) Predictive #zanalytics #zis #zthe #zprocess #zof #zrecommending #za #zcourse #zof #zaction #zbased
#zupon #zmeaningful #zpatterns #zand #zinsights #zfrom #zcollected #zdata.
⊚ true
⊚ false
10) Descriptive #zanalytics #zuses #zpatterns #zand #zinsights #zfrom #zcollected #zdata #zto #zshow
#zwhat #zhas #zhappened.
⊚ true
⊚ false
11) An #zopportunity #zcost #zis #zthe #zcost #zof #znot #zdoing #zsomething.
⊚ true
⊚ false
12) Whether #za #zcost #zis #ztreated #zas #zdirect #zor #zindirect #zdepends #zon #zwhether #ztracing #zthe #zcost
#zis #zboth #zpossible #zand #zpractical.
⊚ true
⊚ false
13) Variable #zcosts #zare #zalways #zdirect #zcosts.
⊚ true
⊚ false
14) Fixed #zcosts #zstay #zthe #zsame, #zon #za #zper-unit #zbasis, #zas #zactivity #zlevel #zchanges.
⊚ true
⊚ false
2
,15) Prime #zcosts #zinclude #zdirect #zmaterials, #zdirect #zlabor, #zand #zmanufacturing #zoverhead.
⊚ true
⊚ false
16) All #zmanufacturing #zcosts #zare #ztreated #zas #zproduct #zcosts.
⊚ true
⊚ false
17) All #zmanufacturing #zcosts #zare #zinventoriable #zcosts.
⊚ true
⊚ false
18) A #zcost #zthat #zwill #zoccur #zin #zthe #zfuture #zand #zdiffers #zbetween #zvarious #zalternatives
#zunder #zconsideration #zis #za #zrelevant #zcost.
⊚ true
⊚ false
19) Managerial #zaccounting #zinformation #zis #zmandated #zby #zthe #zSEC #zand #zother
#zregulatory #zagencies.
⊚ true
⊚ false
20) Managerial #zaccounting #zinformation #zis #zconsidered #zproprietary #zin #znature.
⊚ true
⊚ false
21) Opportunity #zcosts #zoccur #zin #zbusiness #zwhen #zresources #zare #zconstrained.
⊚ true
⊚ false
3
, MULTIPLE #zCHOICE #z- #zChoose #zthe #zone #zalternative #zthat #zbest #zcompletes #zthe #zstatement
#zor #zanswers #zthe #zquestion.
22) What #zis #zthe #zprimary #zgoal #zof #zaccounting?
A) To #zset #zlong-term #zgoals #zand #zobjectives
B) To #zarrange #zfor #zthe #znecessary #zresources #zto #zachieve #za #zplan
C) To #zprovide #zinformation #zfor #zdecision-making
D) To #zmotivate #zothers #zto #zwork #ztowards #za #zplan's #zsuccess
23) Of #zthe #zfollowing #zgroups, #zwhich #zis #zthe #zprimary #zuser #zof #zmanagerial
#zaccounting #zinformation?
A) Investors
B) Creditors
C) Regulators
D) Managers
24) Managerial #zaccounting, #zas #zcompared #zto #zfinancial #zaccounting, #zis #zprimarily
#zintended #zto #zfacilitate:
A) understanding #zthe #zGAAP.
B) making #zdecisions #zwith #ztimely, #zrelevant #zinformation.
C) conducting #zethics #zinvestigations #zunder #zSOX.
D) reporting #zresults #zto #zshareholders.
25) Managerial #zaccounting #zinformation #zincludes #zall #zof #zthe #zfollowing #zexcept:
A) budgets.
B) performance #zevaluations, #zfor #zexample, #zbudget-to-actual #zreports.
C) cost #zreports.
D) financial #zstatements #zprepared #zin #zaccordance #zwith #zgenerally #zaccepted
#zaccounting #zprinciples.
26) Which #zof #zthe #zfollowing #zis #znot #za #zcharacteristic #zof #zfinancial #zaccounting?
4
#z #z #z #z #z #z #z #z #z
Answers Included
#z
Chapter 01 #z
5e
#z
TRUE/FALSE #z- #zWrite #z'T' #zif #zthe #zstatement #zis #ztrue #zand #z'F' #zif #zthe #zstatement #zis #zfalse.
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.
1
, ⊚ true
⊚ false
8) The #zterm #z"big #zdata" #zrefers #zto #zthe #zvolume, #zvelocity, #zand #zveracity #zof #zdata.
⊚ true
⊚ false
9) Predictive #zanalytics #zis #zthe #zprocess #zof #zrecommending #za #zcourse #zof #zaction #zbased
#zupon #zmeaningful #zpatterns #zand #zinsights #zfrom #zcollected #zdata.
⊚ true
⊚ false
10) Descriptive #zanalytics #zuses #zpatterns #zand #zinsights #zfrom #zcollected #zdata #zto #zshow
#zwhat #zhas #zhappened.
⊚ true
⊚ false
11) An #zopportunity #zcost #zis #zthe #zcost #zof #znot #zdoing #zsomething.
⊚ true
⊚ false
12) Whether #za #zcost #zis #ztreated #zas #zdirect #zor #zindirect #zdepends #zon #zwhether #ztracing #zthe #zcost
#zis #zboth #zpossible #zand #zpractical.
⊚ true
⊚ false
13) Variable #zcosts #zare #zalways #zdirect #zcosts.
⊚ true
⊚ false
14) Fixed #zcosts #zstay #zthe #zsame, #zon #za #zper-unit #zbasis, #zas #zactivity #zlevel #zchanges.
⊚ true
⊚ false
2
,15) Prime #zcosts #zinclude #zdirect #zmaterials, #zdirect #zlabor, #zand #zmanufacturing #zoverhead.
⊚ true
⊚ false
16) All #zmanufacturing #zcosts #zare #ztreated #zas #zproduct #zcosts.
⊚ true
⊚ false
17) All #zmanufacturing #zcosts #zare #zinventoriable #zcosts.
⊚ true
⊚ false
18) A #zcost #zthat #zwill #zoccur #zin #zthe #zfuture #zand #zdiffers #zbetween #zvarious #zalternatives
#zunder #zconsideration #zis #za #zrelevant #zcost.
⊚ true
⊚ false
19) Managerial #zaccounting #zinformation #zis #zmandated #zby #zthe #zSEC #zand #zother
#zregulatory #zagencies.
⊚ true
⊚ false
20) Managerial #zaccounting #zinformation #zis #zconsidered #zproprietary #zin #znature.
⊚ true
⊚ false
21) Opportunity #zcosts #zoccur #zin #zbusiness #zwhen #zresources #zare #zconstrained.
⊚ true
⊚ false
3
, MULTIPLE #zCHOICE #z- #zChoose #zthe #zone #zalternative #zthat #zbest #zcompletes #zthe #zstatement
#zor #zanswers #zthe #zquestion.
22) What #zis #zthe #zprimary #zgoal #zof #zaccounting?
A) To #zset #zlong-term #zgoals #zand #zobjectives
B) To #zarrange #zfor #zthe #znecessary #zresources #zto #zachieve #za #zplan
C) To #zprovide #zinformation #zfor #zdecision-making
D) To #zmotivate #zothers #zto #zwork #ztowards #za #zplan's #zsuccess
23) Of #zthe #zfollowing #zgroups, #zwhich #zis #zthe #zprimary #zuser #zof #zmanagerial
#zaccounting #zinformation?
A) Investors
B) Creditors
C) Regulators
D) Managers
24) Managerial #zaccounting, #zas #zcompared #zto #zfinancial #zaccounting, #zis #zprimarily
#zintended #zto #zfacilitate:
A) understanding #zthe #zGAAP.
B) making #zdecisions #zwith #ztimely, #zrelevant #zinformation.
C) conducting #zethics #zinvestigations #zunder #zSOX.
D) reporting #zresults #zto #zshareholders.
25) Managerial #zaccounting #zinformation #zincludes #zall #zof #zthe #zfollowing #zexcept:
A) budgets.
B) performance #zevaluations, #zfor #zexample, #zbudget-to-actual #zreports.
C) cost #zreports.
D) financial #zstatements #zprepared #zin #zaccordance #zwith #zgenerally #zaccepted
#zaccounting #zprinciples.
26) Which #zof #zthe #zfollowing #zis #znot #za #zcharacteristic #zof #zfinancial #zaccounting?
4
