Test Bank for Cost Accounting by (Horngren/Datar/Rajan ) 14th edition

Costv Accounting,v 14ev (Horngren/Datar/Rajan)vChapt
erv1v Thev Accountant'svRolevinvthevOrganization

Objectivev1.1

1) vManagementv accounting:
A) focusesvonvestimatingvfuturevrevenues,vcosts,vandvothervmeasuresvtovforecastvactivitiesvandvtheirvr
esults
B) providesvinformationvaboutvthevcompanyvasvavwhole
C) reportsvinformationvthatvhasvoccurredvinvthevpastvthatvisvverifiablevandvreliable
D) providesvinformationvthatvisv generallyvavailablevonlyvonvavquarterlyvorvannualvbasisv
Answer:vA
Diff:v2
Terms:v treasuryvObjective
:v 1
AACSB:v Reflectivevthinking

2) Managersvusevmanagementvaccountingv informationv to strategy.
A) choose
B) communicate
C) implement
D) Allvofvthesevanswersvarevcorrect.v
Answer:vD
Diff:v1
Terms:vtotalvqualityvmanagementv(TQM)vOb
jective:v1
AACSB:v Analyticalvskills

3) Financialvaccounting:
A) focusesvonv thev futurevandvincludesvactivitiesvsuchvasv preparingvnextv year'svoperatingvbudget
B) mustvcomplyv withv GAAPv (generallyv acceptedv accountingvprinciples)
C) reportsvincludevdetailedvinformationvonvthevvariousvoperatingvsegmentsvofvthevbusinessvsuchvasvp
roductvlinesvorvdepartments
D) isvpreparedvforvthevusevofvdepartmentvheadsvandvothervemployeesv
Answer:vB
Diff:v2
Terms:v financialvaccountingvObjec
tive:v1
AACSB:v Reflectivevthinking




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,4) Thevpersonv mostvlikelyvtov usevONLYv financialvaccountingvinformationvisva:
A) factoryvshiftvsupervisor
B) vicevpresidentvofvoperations
C) currentvshareholder
D) departmentv managerv
Answer:vC
Diff:v1
Terms:v financialvaccountingvObjec
tive:v1
AACSB:v Analyticalvskills

5) Whichvofvthev followingvpeoplevisv LEASTvlikelyv tovusevmanagementvaccountingvinformation?
A) thevcontroller
B) avshareholdervevaluatingvavstockvinvestment
C) thevtreasurer
D) anv assemblyv departmentv supervisorv
Answer:vB
Diff:v1
Terms:v treasuryvObjective
:v 1
AACSB:v Analyticalvskills

6) Financialvaccountingvprovidesvthevprimaryv sourcevofv informationv for:
A) decisionvmakingvinvthevfinishingvdepartment
B) improvingvcustomervservice
C) preparingvthevincomevstatementvforvshareholders
D) planningvnextv year'svoperatingvbudgetv
Answer:vC
Diff:v2
Terms:v financialvaccountingvObjec
tive:v1
AACSB:v Reflectivevthinking

7) Whichvofvthevfollowingvdescriptorsvrefersvtovmanagementvaccountingvinformation?
A) Itvisvverifiablevandvreliable.
B) Itvisvdrivenvbyvrules.
C) Itvisvpreparedvforvshareholders.
D) Itvprovidesvreasonablevandvtimelyvestimates.v
Answer:vD
Diff:v2
Terms:v treasuryvObjective
:v 1
AACSB:v Reflectivevthinking




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,8) Whichvofvthevfollowingvstatementsvrefersvtov managementvaccountingvinformation?
A) Therevarevnovregulationsvgoverningvthevreports.
B) Thevreportsvarevgenerallyv delayedvandvhistorical.
C) Thevaudiencevtendsvtovbevstockholders,vcreditors,vandvtaxvauthorities.
D) Itvprimarilyv measuresvandv recordsvbusinessvtransactions.v
Answer:vA
Diff:v2
Terms:v treasuryvObjective
:v 1
AACSB:v Reflectivevthinking

9) WhichvofvthevfollowingvgroupsvwouldvbevLEASTvlikelyvtovreceivevdetailedvmanagementvaccountingvr
eports?
A) stockholders
B) salesv representatives
C) productionv supervisors
D) managersv
Answer:vAv
Diff:v1
Terms:v treasuryvObjective
:v 1
AACSB:v Analyticalvskills

10) Managementvaccountingv informationv includes:
A) tabulatedvresultsvofvcustomervsatisfactionvsurveys
B) thevcostvofvproducingvavproduct
C) thevpercentagevofvunitsvproducedvthatvarevdefective
D) Allvofvthesevanswersvarevcorrect.v
Answer:vD
Diff:v1
Terms:v treasuryvObjective
:v 1
AACSB:v Reflectivevthinking

11) Costvaccounting:
A) providesvinformationvonvthevefficiencyvofv factoryvlabor
B) providesvinformationvonvthevcostvofvservicingvcommercialvcustomers
C) providesvinformationvonv thevperformancevofvanvoperatingvdivision
D) Allvofvthesevanswersvarevcorrect.v
Answer:vD
Diff:v1
Terms:v costvaccountingvO
bjective:v1
AACSB:v Reflectivevthinking




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, 12) Whichvofvthevfollowingvtypesvofvinformationvarevusedvinvmanagementvaccounting?
A) financialvinformation
B) nonfinancialv information
C) informationvfocusedvonvthevlongvterm
D) Allvofvthesevanswersvarevcorrect.v
Answer:vD
Diff:v2
Terms:v treasuryvObjective
:v 1
AACSB:v Reflectivevthinking

13) Modernvcostvaccountingvplaysvavrolevin:
A) planningvnewvproducts
B) evaluatingvoperationalvprocesses
C) controllingvcosts
D) Allvofvthesevanswersvarevcorrect.v
Answer:vD
Diff:v1
Terms:v costvaccountingvO
bjective:v1
AACSB:v Reflectivevthinking

14) Avdatavwarehousevorvinfobarn:
A) isvreservedvforvexclusivevusevbyvthevCFO
B) isvprimarilyvusedv forvfinancialvreportingvpurposes
C) storesvinformationvusedvbyvdifferentvmanagersvforvmultiplevpurposes
D) gathersvonlyv nonfinancialvinformationv
Answer:vC
Diff:v1
Terms:v costvaccountingvO
bjective:v1
AACSB:v Reflectivevthinking

15) Costvaccountingvprovidesv allvofvthevfollowingvEXCEPT:
A) informationvforvmanagementvaccountingvandv financialvaccounting
B) pricingvinformationvfromv marketingvstudies
C) financialvinformationvregardingvthevcostvofvacquiringvresources
D) nonfinancialvinformationv regardingvthevcostvofvoperationalvefficienciesv
Answer:vB
Diff:v2
Terms:v costvaccountingvO
bjective:v1
AACSB:v Reflectivevthinking




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