Test Bank for Managerial Accounting, 5th Edition by Stacey Whitecotton

TestKBankKforKManagerialKAccounting,K5thKEditionKbyKStaceyKWhitecotton


AnswersKIncluded
Chapter’01K5e
TRUE/FALSEK-’WriteK'T'KifKtheKstatement’isKtrueKandK'F'KifKtheKstatementKisKfalse.
1) FinancialKaccountingKinformationKisKgenerallyKusedKexclusivelyKbyKinternalKpartiesKs
uchKasKmanagers.
⊚ true
⊚ false


2) FinancialKaccountingKinformationKisKreportedKfor’theKcompanyKasKaKwhole.
⊚ true
⊚ false


3) ManagersKmustKdirect,Klead,KandKmotivateKduringKtheKimplementationKfunction.
⊚ true
⊚ false


4) ManagersKofKsmall,KprivateKcorporationsKuseKmanagerialKaccountingKinformation,Kwh
ereasKmanagersKofKlarge,KpublicKcorporationsKuseKfinancialKaccountingKinformation.
⊚ true
⊚ false


5) TheKSarbanes-
OxleyKActKofK2002KplacesKfullKresponsibility’onKtheKboardKofKdirectorsKfor’theKaccuracyKofKt
heKrepKortingKsystem.
⊚ true
⊚ false


6) TheKSarbanes-
OxleyKActKofK2002KfocusesKonKthreeKfactorsKthatKaffectKtheKaccountingKreportingKenvironment
:Kethics,Kfraud,KandKmanagement.
⊚ true
⊚ false


7) AKsustainableKbusinessKisKoneKwithKtheKabilityKtoKmeetKtheKneedsKofKtodayK
withoutKsacrificingKtheKabilityKof’futureKgenerationsKtoKmeetKtheir’ownKneeds.

1

, ⊚ true
⊚ false


8) TheKterm’"bigKdata"KrefersKtoKtheKvolume,Kvelocity,KandKveracityKofKdata.
⊚ true
⊚ false


9) PredictiveKanalyticsKisKtheKprocessKofKrecommendingKaKcourseKofKactionKbase
dKuponKmeaningfulKpatternsKandKinsightsKfromKcollectedKdata.
⊚ true
⊚ false


10) DescriptiveKanalyticsKusesKpatternsKand’insightsKfromKcollectedKdataKtoKshowKwh
atKhasKhappened.
⊚ true
⊚ false


11) AnKopportunityKcostKisKtheKcostKofKnot’doing’something.
⊚ true
⊚ false


12) WhetherKaKcostKisKtreatedKasKdirectKorKindirectKdependsKonKwhetherKtracingKtheKcos
tKisKbothKpossibleKandKpractical.
⊚ true
⊚ false


13) VariableKcostsKareKalwaysKdirectKcosts.
⊚ true
⊚ false


14) FixedKcostsKstayKtheKsame,Kon’aKper-unitKbasis,KasKactivityKlevelKchanges.
⊚ true
⊚ false


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,15) PrimeKcostsKincludeKdirectKmaterials,KdirectKlabor,KandKmanufacturingKoverhead.
⊚ true
⊚ false


16) AllKmanufacturingKcostsKareKtreatedKasKproductKcosts.
⊚ true
⊚ false


17) AllKmanufacturingKcostsKareKinventoriableKcosts.
⊚ true
⊚ false


18) AKcostKthatKwillKoccurKinKtheKfutureKandKdiffersKbetweenKvariousKalternative
sKunderKconsiderationKisKaKrelevantKcost.
⊚ true
⊚ false


19) ManagerialKaccountingKinformationKisKmandatedKby’theKSECKandKotherKregul
atoryKagencies.
⊚ true
⊚ false


20) ManagerialKaccountingKinformationKisKconsidered’proprietary’inKnature.
⊚ true
⊚ false


21) OpportunityKcostsKoccurKinKbusinessKwhenKresourcesKareKconstrained.
⊚ true
⊚ false




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, MULTIPLEKCHOICEK-
Choose’theKoneKalternativeKthat’best’completesKtheKstatement’orKanswersKtheKquestion.
22) WhatKisKtheKprimaryKgoalKofKaccounting?

A) ToKset’long-termKgoalsKandKobjectives
B) ToKarrangeKforKtheKnecessary’resourcesKtoKachieveKaKplan
C) ToKprovideKinformationKforKdecision-making
D) ToKmotivateKothersKtoKworkKtowardsKaKplan'sKsuccess



23) OfKtheKfollowingKgroups,KwhichKisKtheKprimary’userKof’managerialKaccoun
tingKiKnformation?

A) Investors
B) Creditors
C) Regulators
D) Managers



24) ManagerialKaccounting,KasKcomparedKtoKfinancialKaccounting,KisKprimarilyKintend
edKtoKfacilitate:

A) understandingKtheKGAAP.
B) makingKdecisionsKwith’timely,KrelevantKinformation.
C) conductingKethicsKinvestigationsKunder’SOX.
D) reportingKresultsKtoKshareholders.



25) ManagerialKaccountingKinformationKincludesKallKofKtheKfollowingKexcept:

A) budgets.
B) performanceKevaluations,KforKexample,Kbudget-to-actualKreports.
C) costKreports.
D) financialKstatementsKpreparedKinKaccordanceKwithKgenerally’acceptedKaccoun
tingKprinciples.



26) WhichKofKtheKfollowing’isKnot’aKcharacteristicKofKfinancialKaccounting?


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