DSP 2 TEST EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Uncontrollable Costs - ANSWERS-costs that cannot be
changed or influenced in the short run by management
Relevant Costs - ANSWERS-Are considered when allocating a
price
irrelevant costs - ANSWERS-are unnecessary when allocating
price
fixed costs - ANSWERS-Costs that do not vary with the
quantity of output produced
(A cost that does not vary depending on production or sales
levels, such as rent, property tax, insurance, or interest
expense.)
, The four primary responsibilities of a manager - ANSWERS-
Planning
Directing
Controlling
Decision Making
planning - ANSWERS-setting goals and objectives for the
company and determining how to achieve them
Directing - ANSWERS-overseeing the companies day to day
operations
Controlling - ANSWERS-evaluating results of the business
operation against the plan and making adjustments to keep
company pressing towards goal
management accounting - ANSWERS-specializes in the study
of how managers use accounting and/or financial
information in current or future business decisions.
Management accountants use both qualitative and
quantitative information in their work. Unlike other
accountants, they primarily report to the internal
management of a company, rather than to an external body
like shareholders or tax collection agencies.
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Uncontrollable Costs - ANSWERS-costs that cannot be
changed or influenced in the short run by management
Relevant Costs - ANSWERS-Are considered when allocating a
price
irrelevant costs - ANSWERS-are unnecessary when allocating
price
fixed costs - ANSWERS-Costs that do not vary with the
quantity of output produced
(A cost that does not vary depending on production or sales
levels, such as rent, property tax, insurance, or interest
expense.)
, The four primary responsibilities of a manager - ANSWERS-
Planning
Directing
Controlling
Decision Making
planning - ANSWERS-setting goals and objectives for the
company and determining how to achieve them
Directing - ANSWERS-overseeing the companies day to day
operations
Controlling - ANSWERS-evaluating results of the business
operation against the plan and making adjustments to keep
company pressing towards goal
management accounting - ANSWERS-specializes in the study
of how managers use accounting and/or financial
information in current or future business decisions.
Management accountants use both qualitative and
quantitative information in their work. Unlike other
accountants, they primarily report to the internal
management of a company, rather than to an external body
like shareholders or tax collection agencies.
