Test Bank for Managerial Accounting 4th Edition By Charles Davis & Elizabeth Davis, ISBN: 9781119577669, All 13 Chapters Covered, Verified Latest Edition

1-1 TestZBankZforZDavisZ&ZDavis,ZManagerialZAccounting,Z4/e



TEST BANK
Managerial Accounting 4th Edition
By Charles Davis Elizabeth Davis Chapter 1 - 13

, 1-2 TestZBankZforZDavisZ&ZDavis,ZManagerialZAccounting,Z4/e



Table Of Contents
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1. Accounting as a Tool for Management
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2.Cost Behavior and Cost Estimation
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3. Cost-Volume-Profit Analysis and Pricing Decisions
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4. Product Costs and Job Order Costing
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5. Planning and Forecasting
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5A: Planning and Forecasting in a Retail Setting* (online only)
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6. Performance Evaluation: Variance Analysis
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7. Activity-Based Costing and Activity-Based Management
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8. Using Accounting Information to Make Managerial Decisions
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9. Capital Budgeting
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10. Decentralization and Performance Evaluation
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11. Performance Evaluation Revisited: A Balanced Approach
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12. Financial Statement Analysis
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13. Statement of Cash Flows
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ChapterZ1
AccountingZasZaZToolZforZManagement

CHAPTERZLEARNINGZOBJECTIVES

1. DefineZmanagerialZaccountingZ(UnitZ1.1)
ThereZareZseveralZformalZdefinitionsZofZmanagerialZaccounting.ZAZsimpleZoneZisZ“theZg
enerationZofZrelevantZinformationZtoZsupportZmanagement’sZdecision-
makingZactivities.”
2. DescribeZtheZdifferencesZbetweenZmanagerialZandZfinancialZaccountingZ(
UnitZ1.1)
ManagerialZaccounting’sZprimaryZusersZareZmanagersZandZdecisionZmakersZwithinZanZorga
nization,ZwhereasZfinancialZaccountingZisZaimedZprimarilyZatZexternalZusers.ZUnlikeZGAAPZt
hatZguidesZfinancialZaccounting,ZthereZareZnoZmandatedZrulesZinZmanagerialZaccounting.ZM
anagerialZaccountingZreportsZfocusZonZoperatingZsegments,ZwhileZfinancialZaccountingZstat
ementsZreportZresultsZforZtheZorganizationZasZaZwhole.ZManagerialZaccountingZisZconcerne
dZmoreZwithZprojectingZfutureZresultsZthanZreportingZpastZresults.ZManagerialZinformationZ
isZpreparedZtoZtakeZadvantageZofZaZwindowZofZopportunity,ZevenZifZsomeZaccuracyZmustZbeZ
sacrificed.ZFinancialZaccountingZinformationZisZbalancedZtoZtheZpennyZandZisZdeliveredZafte
rZtheZendZofZtheZaccountingZperiod.
3. ListZandZdescribeZtheZfourZfunctionsZofZmanagersZ(UnitZ1.1)
PlanningZmeansZsettingZaZdirectionZforZtheZorganization.ZLong-
term,ZorZstrategicZplanningZprovidesZdirectionZforZaZfive-ZtoZten-yearZperiod.ZShort-
termZorZoperationalZplanningZprovidesZmoreZdetailedZguidanceZforZtheZcomingZyear;ZitZtran
slatesZtheZcompany’sZstrategyZintoZactionZsteps.ZControllingZisZtheZmonitoringZofZday-to-
dayZoperationsZtoZidentifyZanyZproblemsZthatZrequireZcorrectiveZaction.ZEvaluatingZisZtheZp
rocessZofZcomparingZaZparticularZperiod’sZactualZresultsZtoZplannedZresults,ZforZtheZpurpose
ZofZassessingZmanagerialZperformance.ZDecisionZmakingZmeansZchoosingZbetweenZalterna

tiveZcoursesZofZaction.
4. ExplainZhowZtheZselectionZofZaZparticularZbusinessZstrategyZdeterminesZtheZi
nformationZthatZmanagersZneedZtoZrunZanZorganizationZeffectivelyZ(UnitZ1.
2)
ToZrunZaZbusinessZeffectively,ZmanagersZneedZinformationZthatZshowsZhowZwellZoperati
onsZareZmeetingZtheZorganization’sZstrategicZgoals.ZForZinstance,ZifZtheZorganization’sZst
rategyZisZtoZbeZaZlow-
costZproducer,ZinformationZaboutZproductZcostsZandZcostZvariancesZwillZbeZmoreZusefulZ
toZmanagersZthanZinformationZaboutZresearchZandZdevelopment.

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5. DiscussZtheZimportanceZofZethicalZbehaviorZinZmanagerialZaccountingZ(UnitZ
1.3)
EthicalZbehaviorZmeansZknowingZrightZfromZwrongZandZthenZdoingZtheZrightZthing.ZManyZc
ompaniesZandZmostZprofessionalZorganizationsZhaveZcodesZofZconductZtoZguideZemployee
s’Zactions.ZActingZunethicallyZcanZleadZtoZillegalZactivityZandZultimatelyZtoZtheZdestructionZ
ofZtheZfirm.ZFurthermore,ZresearchZhasZshownZthatZaZpublicZcommitmentZtoZethicalZbehavi
orZcanZleadZtoZsuperiorZfinancialZperformance.