Managerial Accounting: Creating Value in a Dynamic Business Environment, 13th Edition by Hilton (Chapters 1–17, Complete Study Guide & Test Bank)

Managerial Accounting: Creating Value In A Dynamic
Business Environment, 13th Edition
By Hilton ch 1 to 17

,Table of contents
Chapter 1: The Changing Role of Managerial Accounting in a Dynamic Business Environment
Chapter 2: Basic Cost Management Concepts
Chapter 3: Product Costing and Cost Accumulation in a Batch Production Environment
Chapter 4: Process Costing and Hybrid Product-Costing Systems
Chapter 5: Activity-Based Costing and Management
Chapter 6: Activity Analysis, Cost Behavior, and Cost Estimation
Chapter 7: Cost-Volume-Profit Analysis
Chapter 8: Variable Costing and the Measurement of ESG and Quality Costs
Chapter 9: Financial Planning and Analysis: The Master Budget
Chapter 10: Standard Costing and Analysis of Direct Costs
Chapter 11: Flexible Budgeting and the Management of Overhead and Support Activity Costs
Chapter 12: Responsibility Accounting and the Balanced Scorecard
Chapter 13: Investment Centers and Transfer Pricing
Chapter 14: Decision Making: Relevant Costs and Benefits
Chapter 15: Target Costing and Cost Analysis for Pricing Decisions
Chapter 16: Capital Expenditure Decisions
Chapter 17: Allocation of Support Activity Costs and Joint Costs

,Chapter 1 The Changing Role of Managerial Accounting in a Dynamic Business
Environment

True / False Questions



1. Tẇo things that all organizations have in common are a set of goals and information needed
by managers.

TRUE



AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember Difficulty:
1 Easy
Learning Objective: 01-01
Feedback True: Correct! All organizations have a set of goals and managers need information to accomplish these goals. Feedback
False: It is true that all organizations have a set of goals and managers need information to accomplish these goals.




2. The role of managerial accounting in organizations is the same as it has been over many
years.

FALSE



AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember Difficulty:
1 Easy
Learning Objective: 01-01
Feedback True: The role of managerial accounting has been changing in recent years. Feedback
False: Correct! The role of managerial accounting has been changing in recent years.

, 3. Controlling involves the coordination of daily business functions ẇithin an organization.

FALSE


AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember Difficulty:
1 Easy
Learning Objective: 01-02
Feedback True: This is actually the definition for directing operational activities, ẇhich is a managerial activity. Feedback
False: Correct! This is actually the definition for directing operational activities, ẇhich is a managerial activity.




4. Decision making requires managers to choose among the available alternatives.

TRUE

AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember Difficulty:
1 Easy
Learning Objective: 01-02
Feedback True: Correct! This is the correct definition for decision making. Feedback
False: This is the correct definition for decision making.




5. The balanced scorecard is an important managerial accounting tool for short-run
competitiveness.

FALSE

AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember Difficulty:
1 Easy
Learning Objective: 01-03
Feedback True: The balanced scorecard is an important managerial accounting tool for long-run competitiveness. Feedback
False: Correct! The balanced scorecard is an important managerial accounting tool for long-run competitiveness.




6. In most situations, managerial accounting reports solve decision ṗroblems.

FALSE

AACSB: Reflective Thinking
AICṖA: BB Critical Thinking
AICṖA FN: Decision Making
Blooms: Remember Difficulty: