TEST BANK Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition, Mowen, Hansen, Heitger

TEST BANK
Managerial Accounting: The Cornerstone of Business Decision Making,

8th Edition, Mowen, Hansen, Heitger Chapters 1 - 15




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,Table of Contents i i




WHY Is Managerial Accounting Important?
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1. Introduction to Managerial Accounting.
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2. Basic Managerial Accounting Concepts.
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WHAT Is Managerial Accounting?
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3. Cost Behavior, Cost Forecasting, and Segmented Income Statements.
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WHERE Does Managerial Accounting Come From?
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4. Job-Order Costing and Normal Cost (Overhead Application).
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5. Activity-Based Costing and Management
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6. Process Costing.
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HOW Is Managerial Accounting USED for Decision Making?
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7. Cost-Volume-Profit Analysis.
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8. Tactical Decision Making and Relevant Costing.
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9. Profit Planning and Flexible Budgets.
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10. Standard Costing and Variance Analysis.
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11. Performance Evaluation and Decentralization.
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12. Capital Investment Decisions.
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13. Emerging Topics in Managerial Accounting: Sustainability, Quality Cost, Lean Accounting, Int
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ernational Issues, Enterprise Risk Management, The Managerial Accountant in Forensic/Fraud A
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ccounting
14. Statement of Cash Flows.
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15. Financial Statement Analysis.
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,Chapi 01_8e_Mowen

Answers at the end of each chapter
i i i i i i




Indicatei whetheri thei statementi isi truei ori false.
i i 1.iAicostiaccountantiwouldinormallyioccupyiaistaffipositioniwithinianiorganization.
a. True
b. False

i
i 2.iTheifouriemphasizediareasiofitheiCMAiexaminationireflectitheineedsiofimanagerialiaccountingiandihighlight

thatimanagerialiaccountingihasimoreiofianiinterdisciplinaryiflavorithaniotheriareasiofiaccounting.
i

a. True
b. False

i i 3.iManagementiaccountingiinformationiisiusedionlyibyimanufacturingiorganizations.
a. True
b. False

i i 4.iPositionsithatihaveidirectiresponsibilityiforitheibasiciobjectivesiofianiorganizationiareireferreditoiasilineipositions.
a. True
b. False

i i 5.iVirtuallyiallimanagerialiaccountingipracticesiwereidevelopeditoiassistimanagersiinimaximizingiprofits.
a. True
b. False

i i 6.iManagerialiaccountingiisidesignediprimarilyiforiinternaliusers.
a. True
b. False

i i 7.iManagerialiaccountingiinformationiisinotiimportantiforinot-for-profitiorganizations.
a. True
b. False

i i 8.iTimeiisinotiaicrucialielementiinialliphasesiofitheivalueichain.
a. True
b. False

i i 9.iActivity-
basedicostingiisiailessidetailediapproachitoideterminingitheicostiofigoodsiandiservicesithanitraditionalicostiaccounting
.
a. True
b. False
i
i 10.iAmeliaicompareditheibudgetedispendingionilaboriandimaterialsiusediiniproductionitoitheiactualispendingionila

boriandimaterialsiusediiniproduction.iLaborispendingiwasihigherithaniexpected.iAmeliaiemailediRobbieitoidiscussithisi
outcome.iThisiisiaimanagerialiaccounting-orientediissue.
a. True
b. False

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, Name: Class: Date:i

Chapi 01_8e_Mowen

i i 11.iTheipurposeiofitheiCertificateiiniPubliciAccountingiisitoiprovideiminimaliprofessionaliqualificationiforiexternaliauditors.
a. True
b. False

i i 12.iExcellenticustomeriserviceiisianiexampleiofiaivalue-addediactivity.
a. True
b. False

i i 13.iGAAPigovernsifinancialiaccounting.
a. True
b. False

i i 14.iManagerialiaccountingiemphasizesitheifuture.
a. True
b. False
i
15.iTheivalueichainiisitheisetiofiactivitiesirequireditoidesign,idevelop,iproduce,imarket,iandideliveriproductsian
i

diservicesitoicustomers.
a. True
b. False

i i 16.iTheibeliefithatieachimemberiofiaigroupibearsinoiresponsibilityiforitheiwell-
beingiofiotherimembersiisiaicommoniprincipleiunderlyingialliethicalisystems.
a. True
b. False

i i 17.iTheiprocessiofichoosingiamongicompetingialternativesiisicalledidecisionimaking.
a. True
b. False
i
18.iTheimanagerialiactivityiofimonitoringiaiplan'siimplementationianditakingicorrectiveiactioniasineedediisireferr
i

editoiasidecisionimaking.
a. True
b. False

Indicatei thei answeri choicei thati besti completesi thei statementi ori answersi thei question.
i i 19.iWhichiofitheifollowingiwouldinormallyiholdiailineiposition?
a. Staffiaccountant
b. Purchasingimanager
c. Generalimanager
d. Costiaccountant




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