FUNDAMENTALS OF COST ACCOUNTING
TEST BANK FULL QUESTIONS AND
ANSWERS GUARANTEED TO PASS
●● FALSE
Answer: TRUE OR FALSE
Managers does not add value to the organization by decisions they make
●● TRUE
Answer: TRUE OR FALSE
In cost accounting, the goal is to assist managers in achieving the
maximum value for their organization
●● value chain
Answer: Refers to set of activities that transforms raw resources into the
goods and services that end users purchase and consume and the
treatment or disposal of any waste generated by them
●● ensure that the entire value chain is as efficient as possible
Answer: What is the important objective of modern cost accounting?
, ●● value-added activities
Answer: Refers to activities that customers perceive as adding utility to
the goods or services they purchase
●● 1. research and development
2. design of products, services or processes
3. production
4. marketing
5. distribution
6. customer service
Answer: 6 business functions in which management/cost accountants
provide information to help managers make decisions are:
●● research and development
Answer: This involves generating and experimenting with ideas related
to new products, services, or processes
●● design of products, services or processes
Answer: This is concerned with detailed planning and engineering of
products, services or processes
●● production
TEST BANK FULL QUESTIONS AND
ANSWERS GUARANTEED TO PASS
●● FALSE
Answer: TRUE OR FALSE
Managers does not add value to the organization by decisions they make
●● TRUE
Answer: TRUE OR FALSE
In cost accounting, the goal is to assist managers in achieving the
maximum value for their organization
●● value chain
Answer: Refers to set of activities that transforms raw resources into the
goods and services that end users purchase and consume and the
treatment or disposal of any waste generated by them
●● ensure that the entire value chain is as efficient as possible
Answer: What is the important objective of modern cost accounting?
, ●● value-added activities
Answer: Refers to activities that customers perceive as adding utility to
the goods or services they purchase
●● 1. research and development
2. design of products, services or processes
3. production
4. marketing
5. distribution
6. customer service
Answer: 6 business functions in which management/cost accountants
provide information to help managers make decisions are:
●● research and development
Answer: This involves generating and experimenting with ideas related
to new products, services, or processes
●● design of products, services or processes
Answer: This is concerned with detailed planning and engineering of
products, services or processes
●● production
