AMAZINGTUTOR TEST BANK
,Chapter 1--Introduction to Cost Accounting
Student: ___________________________________________________________________________
1. Return on investment was used in the 1900’s to evaluate business operations.
True False
2. Financial accounting is most concerned with meeting the needs of internal users.
True False
3. Financial accounting is most concerned with meeting the needs of external users.
True False
4. Managerial accounting is most concerned with meeting the needs of internal users.
True False
5. Managerial accounting is most concerned with meeting the needs of external users.
True False
6. Financial accounting is highly regulated by rules and regulations.
True False
7. Managerial accounting is highly regulated by rules and regulations.
True False
8. Financial accounting is most concerned with addressing the needs of the firm as a
whole.
True False
AMAZINGTUTOR TEST BANK
,9. Managerial accounting is most concerned with addressing the needs of the firm as a
whole.
True False
10. Financial accounting is most concerned with addressing the needs of individual
departments of the firm.
True False
11. Managerial accounting is most concerned with addressing the needs of individual
departments of the firm.
True False
12. Cost accounting serves as a bridge between financial and managerial accounting.
True False
13. Mission statements typically remain unchanged throughout the life of an
organization.
True False
14. An organization’s strategy should reflect the organization’s core competencies.
True False
15. An organization’s strategy is the guiding force for its mission.
True False
16. Line managers are directly responsible for achieving organizational goals.
True False
17. Line personnel give assistance to staff employees.
True False
AMAZINGTUTOR TEST BANK
, 18. The learning and growth perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
19. The internal business perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
20. The learning and growth perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
21. The financial perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
22. The internal business perspective of the balanced scorecard addresses the things
that an organization needs to do well to meet customer needs and expectations.
True False
23. The learning and growth perspective of the balanced scorecard addresses the things
that an organization needs to do well to meet customer needs and expectations.
True False
24. The customer value perspective of the balanced scorecard addresses the things that
an organization needs to do well to meet customer needs and expectations.
True False
25. The financial perspective of the balanced scorecard addresses the things that an
organization needs to do well to meet customer needs and expectations.
True False
AMAZINGTUTOR TEST BANK
,Chapter 1--Introduction to Cost Accounting
Student: ___________________________________________________________________________
1. Return on investment was used in the 1900’s to evaluate business operations.
True False
2. Financial accounting is most concerned with meeting the needs of internal users.
True False
3. Financial accounting is most concerned with meeting the needs of external users.
True False
4. Managerial accounting is most concerned with meeting the needs of internal users.
True False
5. Managerial accounting is most concerned with meeting the needs of external users.
True False
6. Financial accounting is highly regulated by rules and regulations.
True False
7. Managerial accounting is highly regulated by rules and regulations.
True False
8. Financial accounting is most concerned with addressing the needs of the firm as a
whole.
True False
AMAZINGTUTOR TEST BANK
,9. Managerial accounting is most concerned with addressing the needs of the firm as a
whole.
True False
10. Financial accounting is most concerned with addressing the needs of individual
departments of the firm.
True False
11. Managerial accounting is most concerned with addressing the needs of individual
departments of the firm.
True False
12. Cost accounting serves as a bridge between financial and managerial accounting.
True False
13. Mission statements typically remain unchanged throughout the life of an
organization.
True False
14. An organization’s strategy should reflect the organization’s core competencies.
True False
15. An organization’s strategy is the guiding force for its mission.
True False
16. Line managers are directly responsible for achieving organizational goals.
True False
17. Line personnel give assistance to staff employees.
True False
AMAZINGTUTOR TEST BANK
, 18. The learning and growth perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
19. The internal business perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
20. The learning and growth perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
21. The financial perspective of the balanced scorecard focuses on using an
organization’s intellectual capital to adapt to or influence customer needs and
expectations.
True False
22. The internal business perspective of the balanced scorecard addresses the things
that an organization needs to do well to meet customer needs and expectations.
True False
23. The learning and growth perspective of the balanced scorecard addresses the things
that an organization needs to do well to meet customer needs and expectations.
True False
24. The customer value perspective of the balanced scorecard addresses the things that
an organization needs to do well to meet customer needs and expectations.
True False
25. The financial perspective of the balanced scorecard addresses the things that an
organization needs to do well to meet customer needs and expectations.
True False
AMAZINGTUTOR TEST BANK
