TEST BANK
Managerial Accounting
Stacey M. Whitecotton, Robert Libby, and Fred Phillips
ST
5th Edition
UV
IA
?_
AP
PR
OV
ED
? ?
, TABLE OF CONTENTS
Managerial Accounting (5th Edition)
Stacey M. Whitecotton, Robert Libby, and Fred Phillips
ST
Chapter 1 Introduction to Managerial Accounting
Chapter 2 Job Order Costing
UV
Chapter 3 Process Costing
Chapter 4 Activity-Based Costing and Cost Management
Chapter 5 Cost Behavior
IA
Chapter 6 Cost-Volume-Profit Analysis
Chapter 7 Incremental Analysis for Short-Term Decision Making
?_
Chapter 8 Budgetary Planning
Chapter 9 Standard Costing and Variance Analysis
AP
Chapter 10 Decentralized Performance Evaluation
Chapter 11 Capital Budgeting
PR
Chapter 12 Statement of Cash Flows
Chapter 13 Measuring and Evaluating Financial Performance
OV
ED
??
, Student name:__________
1) Financial accounting information is generally used exclusively by internal parties such as
managers.
⊚ true
⊚ false
ST
2) Financial accounting information is reported for the company as a whole.
UV
⊚ true
⊚ false
3) Managers must direct, lead, and motivate during the implementation function.
IA
⊚ true
⊚ false
?_
4) Managers of small, private corporations use managerial accounting information, whereas
managers of large, public corporations use financial accounting information.
AP
⊚ true
⊚ false
PR
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the
accuracy of the reporting system.
⊚ true
⊚ false
OV
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting
environment: ethics, fraud, and management.
⊚ true
ED
⊚ false
??
Version 1 1
, 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.
⊚ true
⊚ false
ST
8) The term "big data" refers to the volume, velocity, and veracity of data.
⊚ true
⊚ false
UV
9) Predictive analytics is the process of recommending a course of action based upon
meaningful patterns and insights from collected data.
IA
⊚ true
⊚ false
?_
10) Descriptive analytics uses patterns and insights from collected data to show what has
happened.
⊚ true
AP
⊚ false
11) An opportunity cost is the cost of not doing something.
PR
⊚ true
⊚ false
OV
12) Whether a cost is treated as direct or indirect depends on whether tracing the cost is both
possible and practical.
⊚ true
⊚ false
ED
13) Variable costs are always direct costs.
⊚ true
??
⊚ false
Version 1 2
Managerial Accounting
Stacey M. Whitecotton, Robert Libby, and Fred Phillips
ST
5th Edition
UV
IA
?_
AP
PR
OV
ED
? ?
, TABLE OF CONTENTS
Managerial Accounting (5th Edition)
Stacey M. Whitecotton, Robert Libby, and Fred Phillips
ST
Chapter 1 Introduction to Managerial Accounting
Chapter 2 Job Order Costing
UV
Chapter 3 Process Costing
Chapter 4 Activity-Based Costing and Cost Management
Chapter 5 Cost Behavior
IA
Chapter 6 Cost-Volume-Profit Analysis
Chapter 7 Incremental Analysis for Short-Term Decision Making
?_
Chapter 8 Budgetary Planning
Chapter 9 Standard Costing and Variance Analysis
AP
Chapter 10 Decentralized Performance Evaluation
Chapter 11 Capital Budgeting
PR
Chapter 12 Statement of Cash Flows
Chapter 13 Measuring and Evaluating Financial Performance
OV
ED
??
, Student name:__________
1) Financial accounting information is generally used exclusively by internal parties such as
managers.
⊚ true
⊚ false
ST
2) Financial accounting information is reported for the company as a whole.
UV
⊚ true
⊚ false
3) Managers must direct, lead, and motivate during the implementation function.
IA
⊚ true
⊚ false
?_
4) Managers of small, private corporations use managerial accounting information, whereas
managers of large, public corporations use financial accounting information.
AP
⊚ true
⊚ false
PR
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the
accuracy of the reporting system.
⊚ true
⊚ false
OV
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting
environment: ethics, fraud, and management.
⊚ true
ED
⊚ false
??
Version 1 1
, 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.
⊚ true
⊚ false
ST
8) The term "big data" refers to the volume, velocity, and veracity of data.
⊚ true
⊚ false
UV
9) Predictive analytics is the process of recommending a course of action based upon
meaningful patterns and insights from collected data.
IA
⊚ true
⊚ false
?_
10) Descriptive analytics uses patterns and insights from collected data to show what has
happened.
⊚ true
AP
⊚ false
11) An opportunity cost is the cost of not doing something.
PR
⊚ true
⊚ false
OV
12) Whether a cost is treated as direct or indirect depends on whether tracing the cost is both
possible and practical.
⊚ true
⊚ false
ED
13) Variable costs are always direct costs.
⊚ true
??
⊚ false
Version 1 2
