TEST BANK FOR PRINCIPLES OF COST ACCOUNTING, 17TH EDITION EDWARD J. VANDERBECK CHAPTERS 1 - 10, COMPLETE NEWEST VERSION UPDATED2025

CHAPTER 1:INTRODUCTION TOCOSTACCOUNTING
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Test Bank For Principles Of Cost Accounting,
17th Edition Edward J. Vanderbeck
Chapters 1 - 10, Complete




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, CHAPTER 1:INTRODUCTION TOCOSTACCOUNTING tk kt tk kt tk




Contents

1. Ch 1: Introduction to Cost Accounting
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2. Ch 2: Accounting for Materials
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3. Ch 3: Accounting for Labor
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4. Ch 4: Accounting for Factory Overhead
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5. Ch 5: Process Cost Accounting-General Procedures
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6. Ch 6: Process Cost Accounting-Additional Procedures; Accounting for Joint Products and By-Products
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7. Ch 7: The Master Budget and Flexible Budgeting
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8. Ch 8: Standard Cost Accounting-Materials, Labor, and Factory Overhead
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9. Ch 9: Cost Accounting for Service Businesses, the Balanced Scorecard, and Quality Costs
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10. Ch 10: Cost Analysis for Management Decision Making
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,CHAPTER 1:INTRODUCTION TOCOSTACCOUNTING tk kt tk kt tk




The business entity that converts purchased raw materials into finished goods by usinglabor, technology, andfacilitiesis a:
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a. Manufacturer.
b. Merchandiser.
c. Servicebusiness. tk




d. Not-for-profit service agency. tk tk




ANSWER: a
RATIONALE:
The business entity that converts purchased raw materials into finished goods by using labor,technology,
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and facilities is a manufacturer.
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POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES PRIN.EDWA.16.1- Introduction
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:
ACCREDITING STAN AACSB Analytic tk t k tk




DARDS: ACCT.AICPA.FN.03- tk




MeasurementBUSPROG.03 - Analytic kt kt tk tk




IMA-BusinessApplications kt




OTHER: Bloom's: Remembering tk




2. The business entity that purchases finished goods for resale is a:
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a. Manufacturer.
b. Merchandiser.
c. Servicebusiness. tk




d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is a merchandiser. tk tk tk tk tk tk tk tk tk tk tk




POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES PRIN.EDWA.16.1- Introduction
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:
ACCREDITING STANDARD AACSB Analytic ACCT.AICPA.FN.03 - tk kt tk tk tk




S: MeasurementBUSPROG.03 - Analytic kt kt tk tk




IMA-BusinessApplications kt




OTHER: Bloom's: Remembering tk




3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to thecons
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umer is a:
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a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Servicebusiness. tk




ANSWER: c
RATIONALE: A wholesaler purchases goods from the producer and sells them to the retailer. tk tk tk tk tk tk tk tk tk tk tk tk




POINTS: 1
DIFFICULTY: Easy
Cengage Learning Testing, Powered by Cognero
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, CHAPTER 1:INTRODUCTION TOCOSTACCOUNTING tk kt tk kt tk




LEARNING OBJECTIVES PRIN.EDWA.16.1- Introduction
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:
ACCREDITING STANDARD AACSB Analytic ACCT.AICPA.FN.03 -
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S: MeasurementBUSPROG.03 - Analytic kt kt tk tk




IMA-BusinessApplications kt




OTHER: Bloom's:Remembering kt




4. Examples of service businesses include:
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a. Airlines, accountants, and hairstylists. tk tk tk tk




b. Department stores, poster shops, andwholesalers. tk tk tk tk tk




c. Aircraft producers, home builders, and machine tool makers. tk tk tk tk tk tk tk




d. None of these are correct. tk tk tk tk




ANSWER: a
RATIONALE: Examples of service businesses include airlines, architects, andhair stylists. tk tk tk tk tk tk tk tk tk




POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES PRIN.EDWA.16.1- Introduction
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:
ACCREDITING STAN AACSB ReflectiveThinking tk t k tk tk




DARDS: ACCT.AICPA.FN.03- kt




MeasurementBUSPROG.06 - kt kt tk




Reflective ThinkingIMA- tk tk kt




Business Applications tk




OTHER: Bloom's: Understanding tk




5. ISO 9000 is a set of international standards for:
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a. determining the selling price of a product. tk tk tk tk tk tk




b. cost control. tk




c. qualitymanagement. tk




d. deliveringproduct, tk




ANSWER: c
RATIONALE: ISO 9000 is a set of international standards for quality management. tk tk tk tk tk tk tk tk tk tk




POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES:PRIN.EDWA.16.1- Introduction
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ACCREDITING STANDARAACSBAnalytic tk kt tk




DS: ACCT.AICPA.FN.03- tk




MeasurementBUSPROG.03 - Analytic kt kt tk tk




IMA-StrategicPlanning tk




OTHER: Bloom's: Remembering tk




6. Unit cost information is important for making all of the following marketing decisions except:
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a. Determining the selling price of a product. tk tk tk tk tk tk




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