TEST BANK
Managerial Accounting: The Cornerstone of Business Decision Making,
8th Edition, Mowen, Hansen, Heitger Chapters 1 - 15
Page 1
vs
,Table of Contents vs vs
WHY Is Managerial Accounting Important?
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1. Introduction to Managerial Accounting.
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2. Basic Managerial Accounting Concepts.
vs vs vs vs
WHAT Is Managerial Accounting?
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3. Cost Behavior, Cost Forecasting, and Segmented Income Statements.
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WHERE Does Managerial Accounting Come From?
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4. Job-Order Costing and Normal Cost (Overhead Application).
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5. Activity-Based Costing and Management
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6. Process Costing.
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HOW Is Managerial Accounting USED for Decision Making?
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7. Cost-Volume-Profit Analysis.
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8. Tactical Decision Making and Relevant Costing.
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9. Profit Planning and Flexible Budgets.
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10. Standard Costing and Variance Analysis.
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11. Performance Evaluation and Decentralization.
vs vs vs vs
12. Capital Investment Decisions.
vs vs vs
13. Emerging Topics in Managerial Accounting: Sustainability, Quality Cost, Lean Accounting, Inte
vs vs vs vs vs vs vs vs vs vs vs
rnational Issues, Enterprise Risk Management, The Managerial Accountant in Forensic/Fraud Acc
vs vs vs vs vs vs vs vs vs vs
ounting
14. Statement of Cash Flows.
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15. Financial Statement Analysis.
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Page 2
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,Chap 01_8e_Mowen
v s
Answers at the end of each chapter vs vs vs vs vs vs
Indicate whether the statement is true or false.
v s v s v s v s v s v s v s
vs v s 1.Acostaccountantwouldnormallyoccupyastaffpositionwithinanorganization.
vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs
2. ThefouremphasizedareasoftheCMAexaminationreflecttheneedsofmanagerialaccountingandhighlight th
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
atmanagerialaccountinghas moreofaninterdisciplinaryflavorthanotherareasofaccounting.
vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 3.Managementaccountinginformationisusedonlybymanufacturingorganizations.
vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 4. Positionsthathavedirectresponsibilityforthebasicobjectivesofanorganizationarereferredtoaslinepositions.
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 5.Virtuallyallmanagerialaccountingpracticesweredevelopedtoassistmanagersinmaximizingprofits.
vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 6.Managerialaccountingisdesignedprimarilyforinternalusers.
vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 7. Managerialaccountinginformationisnotimportantfornot-for-profitorganizations.
vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 8. Timeisnotacrucialelementinallphasesofthevaluechain.
vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 9. Activity-
vs
basedcostingisalessdetailedapproachtodeterminingthecostofgoodsandservicesthantraditionalcost accounting.
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs
10.Ameliacomparedthebudgetedspendingonlaborandmaterialsusedinproductiontotheactualspendingonlabor
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
and materials used in production. Labor spending was higher than expected. Amelia emailed Robbie to discuss thisoutcom
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
e.Thisis amanagerialaccounting-orientedissue.
vs vs vs vs vs vs
a. True
b. False
Page 3
vs
, Name: Class: Date: vs
Chap 01_8e_Mowen v s
vs v s 11.ThepurposeoftheCertificateinPublicAccountingistoprovideminimalprofessionalqualificationforexternalauditors.
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 12.Excellentcustomerserviceisanexampleofavalue-addedactivity.
vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 13.GAAPgovernsfinancialaccounting.
vs vs vs vs
a. True
b. False
vs v s 14.Managerialaccountingemphasizesthefuture.
vs vs vs vs vs
a. True
b. False
vs
15.Thevaluechainisthesetofactivitiesrequiredtodesign,develop,produce,market,anddeliverproductsandse
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
rvices to customers. vs vs
a. True
b. False
vs v s 16. Thebelief thateachmember ofagroupbearsnoresponsibility forthewell-
vs vs vs vs vs vs vs vs vs vs vs vs vs vs
being ofothermembersisacommonprincipleunderlyingallethicalsystems. vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 17.Theprocessofchoosingamongcompetingalternativesiscalleddecisionmaking.
vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs
18.Themanagerialactivityofmonitoringa plan'simplementationandtakingcorrectiveactionasneededisreferredt
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
oasdecisionmaking.
vs vs vs
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
v s v s v s v s v s v s v s v s v s v s v s v s
vs v s 19. Whichofthefollowingwouldnormallyholdalineposition?
vs vs vs vs vs vs vs vs vs vs
a. Staff accountant v s
b. Purchasing manager vs
c. General manager vs
d. Cost accountant vs
Page 4 vs
Managerial Accounting: The Cornerstone of Business Decision Making,
8th Edition, Mowen, Hansen, Heitger Chapters 1 - 15
Page 1
vs
,Table of Contents vs vs
WHY Is Managerial Accounting Important?
vs vs vs vs
1. Introduction to Managerial Accounting.
vs vs vs vs
2. Basic Managerial Accounting Concepts.
vs vs vs vs
WHAT Is Managerial Accounting?
vs vs vs
3. Cost Behavior, Cost Forecasting, and Segmented Income Statements.
vs vs vs vs vs vs vs vs
WHERE Does Managerial Accounting Come From?
vs vs vs vs vs
4. Job-Order Costing and Normal Cost (Overhead Application).
vs vs vs vs vs vs vs
5. Activity-Based Costing and Management
vs vs vs vs
6. Process Costing.
vs vs
HOW Is Managerial Accounting USED for Decision Making?
vs vs vs vs vs vs vs
7. Cost-Volume-Profit Analysis.
vs vs
8. Tactical Decision Making and Relevant Costing.
vs vs vs vs vs vs
9. Profit Planning and Flexible Budgets.
vs vs vs vs vs
10. Standard Costing and Variance Analysis.
vs vs vs vs vs
11. Performance Evaluation and Decentralization.
vs vs vs vs
12. Capital Investment Decisions.
vs vs vs
13. Emerging Topics in Managerial Accounting: Sustainability, Quality Cost, Lean Accounting, Inte
vs vs vs vs vs vs vs vs vs vs vs
rnational Issues, Enterprise Risk Management, The Managerial Accountant in Forensic/Fraud Acc
vs vs vs vs vs vs vs vs vs vs
ounting
14. Statement of Cash Flows.
vs vs vs vs
15. Financial Statement Analysis.
vs vs vs
Page 2
vs
,Chap 01_8e_Mowen
v s
Answers at the end of each chapter vs vs vs vs vs vs
Indicate whether the statement is true or false.
v s v s v s v s v s v s v s
vs v s 1.Acostaccountantwouldnormallyoccupyastaffpositionwithinanorganization.
vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs
2. ThefouremphasizedareasoftheCMAexaminationreflecttheneedsofmanagerialaccountingandhighlight th
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
atmanagerialaccountinghas moreofaninterdisciplinaryflavorthanotherareasofaccounting.
vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 3.Managementaccountinginformationisusedonlybymanufacturingorganizations.
vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 4. Positionsthathavedirectresponsibilityforthebasicobjectivesofanorganizationarereferredtoaslinepositions.
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 5.Virtuallyallmanagerialaccountingpracticesweredevelopedtoassistmanagersinmaximizingprofits.
vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 6.Managerialaccountingisdesignedprimarilyforinternalusers.
vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 7. Managerialaccountinginformationisnotimportantfornot-for-profitorganizations.
vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 8. Timeisnotacrucialelementinallphasesofthevaluechain.
vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 9. Activity-
vs
basedcostingisalessdetailedapproachtodeterminingthecostofgoodsandservicesthantraditionalcost accounting.
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs
10.Ameliacomparedthebudgetedspendingonlaborandmaterialsusedinproductiontotheactualspendingonlabor
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
and materials used in production. Labor spending was higher than expected. Amelia emailed Robbie to discuss thisoutcom
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
e.Thisis amanagerialaccounting-orientedissue.
vs vs vs vs vs vs
a. True
b. False
Page 3
vs
, Name: Class: Date: vs
Chap 01_8e_Mowen v s
vs v s 11.ThepurposeoftheCertificateinPublicAccountingistoprovideminimalprofessionalqualificationforexternalauditors.
vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 12.Excellentcustomerserviceisanexampleofavalue-addedactivity.
vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 13.GAAPgovernsfinancialaccounting.
vs vs vs vs
a. True
b. False
vs v s 14.Managerialaccountingemphasizesthefuture.
vs vs vs vs vs
a. True
b. False
vs
15.Thevaluechainisthesetofactivitiesrequiredtodesign,develop,produce,market,anddeliverproductsandse
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
rvices to customers. vs vs
a. True
b. False
vs v s 16. Thebelief thateachmember ofagroupbearsnoresponsibility forthewell-
vs vs vs vs vs vs vs vs vs vs vs vs vs vs
being ofothermembersisacommonprincipleunderlyingallethicalsystems. vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs v s 17.Theprocessofchoosingamongcompetingalternativesiscalleddecisionmaking.
vs vs vs vs vs vs vs vs vs vs vs
a. True
b. False
vs
18.Themanagerialactivityofmonitoringa plan'simplementationandtakingcorrectiveactionasneededisreferredt
v s vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs vs
oasdecisionmaking.
vs vs vs
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
v s v s v s v s v s v s v s v s v s v s v s v s
vs v s 19. Whichofthefollowingwouldnormallyholdalineposition?
vs vs vs vs vs vs vs vs vs vs
a. Staff accountant v s
b. Purchasing manager vs
c. General manager vs
d. Cost accountant vs
Page 4 vs
