ACC 241 Exam 1 questions well
answered
The main focus of managerial accounting is: - correct answer ✔✔ decision making
What are objectives of Management accounting? - correct answer ✔✔ 1. to provide
information for planning, controlling, evaluating and continuous improvement
2. to provide information for decision making
3. to provide information for costing of services, products, and other objects of interest to
management
What is TRUE about managerial accounting? - correct answer ✔✔ managerial accounting
reports provide detailed internal information
The value chain is used by - correct answer ✔✔ service, manufacturing, and merchandising
businesses
What is an ex. of MOH expense in a factory? - correct answer ✔✔ wages of factpry
maintenance personnel
Product Costs - correct answer ✔✔ = all costs required for production (minus sales costs)
wages/direct labor hours, raw materials, factory overhead, consumable production supplies
answered
The main focus of managerial accounting is: - correct answer ✔✔ decision making
What are objectives of Management accounting? - correct answer ✔✔ 1. to provide
information for planning, controlling, evaluating and continuous improvement
2. to provide information for decision making
3. to provide information for costing of services, products, and other objects of interest to
management
What is TRUE about managerial accounting? - correct answer ✔✔ managerial accounting
reports provide detailed internal information
The value chain is used by - correct answer ✔✔ service, manufacturing, and merchandising
businesses
What is an ex. of MOH expense in a factory? - correct answer ✔✔ wages of factpry
maintenance personnel
Product Costs - correct answer ✔✔ = all costs required for production (minus sales costs)
wages/direct labor hours, raw materials, factory overhead, consumable production supplies
