Test Bank Principles of Cost Accounting 17th Edition 2026 – Edward J. Vanderbeck A+

,CHAPTER 1: INTRODUCTION TO COST ACCOUNTING


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




Cengage Learning Testing, Powered by Cognero Page 1

, CHAPTER 1: INTRODUCTION TO COST ACCOUNTING


Contents

1. Ch 1: Introduction to Cost Accounting

2. Ch 2: Accounting for Materials

3. Ch 3: Accounting for Labor

4. Ch 4: Accounting for Factory Overhead

5. Ch 5: Process Cost Accounting-General Procedures

6. Ch 6: Process Cost Accounting-Additional Procedures; Accounting for Joint Products and By-Products

7. Ch 7: The Master Budget and Flexible Budgeting

8. Ch 8: Standard Cost Accounting-Materials, Labor, and Factory Overhead

9. Ch 9: Cost Accounting for Service Businesses, the Balanced Scorecard, and Quality Costs

10. Ch 10: Cost Analysis for Management Decision Making




Cengage Learning Testing, Powered by Cognero Page 2

, CHAPTER 1: INTRODUCTION TO COST ACCOUNTING
The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilitiesis a:
n n n n n n n n n n n n n n n n n n




a. Manufacturer.
b. Merchandiser.
c. Service business. n




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




ANSWER: a
RATIONALE: The business entity that converts purchased raw materials into finished goods by using labor,
n n n n n n n n n n n n n n




technology, and facilities is a manufacturer.
n n n n n




POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTI n n PRIN.EDWA.16.1 - Introduction n n




VES:
ACCREDITING STAN n n AACSB Analytic n




DARDS: ACCT.AICPA.FN.03 - Measurement n n n




BUSPROG.03 - Analytic n n




IMA-Business Applications n




OTHER: Bloom's: Remembering n




2. The business entity that purchases finished goods for resale is a:
n n n n n n n n n n




a. Manufacturer.
b. Merchandiser.
c. Service business. n




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




POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
n n n n




:
ACCREDITING STANDA AACSB Analytic n n n n




RDS: ACCT.AICPA.FN.03 - Measurement n n n




BUSPROG.03 - Analytic n n




IMA-Business Applications n




OTHER: Bloom's: Remembering n




3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to the
n n n n n n n n n n n n n n n n n n n n




consumer is a:
n n




a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service business. n




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




POINTS: 1
DIFFICULTY: Easy


Cengage Learning Testing, Powered by Cognero Page 3