TEST BANK For Managerial Accounting: Creating Value in a Dynamic Business Environment, 13th Edition by Hilton | Verified Chapter's 1 - 17 | Complete Newest Version

1-1 Test Bank for Managerial Accounting: Creating Value in a Dynamic Business Environment, 13th Edition by Hilton Chapter 1 - 17 1-2 Chapter 1: The Changing Role of Managerial Accounting in a Dynamic Business Environment Chapter 2: Basic Cost Management Concepts Chapter 3: Product Costing and Cost Accumulation in a Batch Production Environment Chapter 4: Process Costing and Hybrid Product -Costing Systems Chapter 5: Activity -Based Costing and Management Chapter 6: Activity Analysis, Cost Behavior, and Cost Estimation Chapt er 7: Cost -Volume -Profit Analysis Chapter 8: Variable Costing and the Measurement of ESG and Quality Costs Chapter 9: Financial Planning and Analysis: The Master Budget Chapter 10: Standard Costing and Analysis of Direct Costs Chapter 11: Flexible Budgetin g and the Management of Overhead and Support Activity Costs Chapter 12: Responsibility Accounting and the Balanced Scorecard Chapter 13: Investment Centers and Transfer Pricing Chapter 14: Decision Making: Relevant Costs and Benefits Chapter 15: Target Costing and Cost Analysis for Pricing Decisions Chapter 16: Capital Expenditure Decisions Chapter 17: Allocation of Support Activity Costs and Joint Costs Appendix I: The Sarbanes -Oxley Act, Internal Controls, and Management Accounting Appendix II: Compo und Interest and the Concept of Present Value Appendix III: Inventory Management 1-3 Chapter 1 The Changing Role of Managerial Accounting in a Dynamic Business Environment True / False Questions 1. Two things that all organizations have in common are a set of goals and information needed by managers. TRUE AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Feedback True: Correct! All organizations have a set of goals and managers need information to accomplish these goals. Feedback False: It is true that all organizations have a set of goals and managers need information to accomplish these goals. 2. The role of managerial accounting in organizations is the same as it has been over many years. FALSE AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Feedback True: The role of managerial accounting has been changing in recent years. Feedback False: Correct! The role of managerial accounting has been changing in recent years. 1-4 3. Controlling involves the coordination of daily business functions within an organization. FALSE AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-02 Feedback True: This is actually the definition for directing operational activities, which is a managerial activity. Feedback False: Correct! This is actually the definition for directing operational activities, which is a managerial activity. 4. Decision making requires managers to choose among the available alternatives. TRUE AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-02 Feedback True: Correct! This is the correct definition for decision making. Feedback False: This is the correct definition for decision making. 5. The balanced scorecard is an important managerial accounting tool for short -run competitiveness. FALSE AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-03 Feedback True: The balanced scorecard is an important managerial accounting tool for long -run competitiveness. Feedback False: Correct! The balanced scorecard is an important managerial accounting tool for long-run competitiveness.