Managerial Accounting
5th Edition
ST
UV
TEST BANK
IA
_A
PP
Stacey Whitecotton
RO
Comprehensive Test Bank for Instructors
VE
and Students
D?
© Stacey Whitecotton. All rights reserved. Reproduction or distribution without permission is
prohibited.
?
©MEDGEEK
, TABLE OF CONTENTS
Test Bank – Managerial Accounting, 5th Edition (ISBN 9781265317515)
Stacey M. Whitecotton, Robert Libby, Fred Phillips
ST
Chapter 1. Introduction to Managerial Accounting,
Chapter 2. Job Order Costing,
Chapter 3. Process Costing,
UV
Chapter 4. Activity-Based Costing and Cost Management,
Chapter 5. Cost Behavior,
Chapter 6. Cost-Volume-Profit Analysis,
Chapter 7. Incremental Analysis for Short-Term Decision Making,
Chapter 8. Budgetary Planning,
IA
Chapter 9. Standard Costing and Variance Analysis,
Chapter 10. Decentralized Performance Evaluation,
Chapter 11. Capital Budgeting,
_A
Chapter 12. Statement of Cash Flows,
Chapter 13. Measuring and Evaluating Financial Performance
PP
RO
VE
D?
?
©MEDGEEK
, Student name:__________
1) Financial accounting information is generally used exclusively by internal parties such as
managers.
⊚ true
ST
⊚ false
2) Financial accounting information is reported for the company as a whole.
UV
⊚ true
⊚ false
3) Managers must direct, lead, and motivate during the implementation function.
IA
⊚ true
⊚ false
_A
4) Managers of small, private corporations use managerial accounting information, whereas
managers of large, public corporations use financial accounting information.
⊚ true
⊚ false
PP
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the
accuracy of the reporting system.
RO
⊚ true
⊚ false
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting
VE
environment: ethics, fraud, and management.
⊚ true
⊚ false
D?
?
Version 1 1
, 7) A sustainable business is one with the ability to meet the needs of today without sacrificing
the ability of future generations to meet their own needs.
⊚ true
⊚ false
ST
8) The term "big data" refers to the volume, velocity, and veracity of data.
⊚ true
UV
⊚ false
9) Predictive analytics is the process of recommending a course of action based upon
meaningful patterns and insights from collected data.
IA
⊚ true
⊚ false
_A
10) Descriptive analytics uses patterns and insights from collected data to show what has
happened.
⊚ true
⊚ false
PP
11) An opportunity cost is the cost of not doing something.
⊚ true
RO
⊚ false
12) Whether a cost is treated as direct or indirect depends on whether tracing the cost is both
possible and practical.
VE
⊚ true
⊚ false
D?
13) Variable costs are always direct costs.
⊚ true
⊚ false
?
Version 1 2
5th Edition
ST
UV
TEST BANK
IA
_A
PP
Stacey Whitecotton
RO
Comprehensive Test Bank for Instructors
VE
and Students
D?
© Stacey Whitecotton. All rights reserved. Reproduction or distribution without permission is
prohibited.
?
©MEDGEEK
, TABLE OF CONTENTS
Test Bank – Managerial Accounting, 5th Edition (ISBN 9781265317515)
Stacey M. Whitecotton, Robert Libby, Fred Phillips
ST
Chapter 1. Introduction to Managerial Accounting,
Chapter 2. Job Order Costing,
Chapter 3. Process Costing,
UV
Chapter 4. Activity-Based Costing and Cost Management,
Chapter 5. Cost Behavior,
Chapter 6. Cost-Volume-Profit Analysis,
Chapter 7. Incremental Analysis for Short-Term Decision Making,
Chapter 8. Budgetary Planning,
IA
Chapter 9. Standard Costing and Variance Analysis,
Chapter 10. Decentralized Performance Evaluation,
Chapter 11. Capital Budgeting,
_A
Chapter 12. Statement of Cash Flows,
Chapter 13. Measuring and Evaluating Financial Performance
PP
RO
VE
D?
?
©MEDGEEK
, Student name:__________
1) Financial accounting information is generally used exclusively by internal parties such as
managers.
⊚ true
ST
⊚ false
2) Financial accounting information is reported for the company as a whole.
UV
⊚ true
⊚ false
3) Managers must direct, lead, and motivate during the implementation function.
IA
⊚ true
⊚ false
_A
4) Managers of small, private corporations use managerial accounting information, whereas
managers of large, public corporations use financial accounting information.
⊚ true
⊚ false
PP
5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the
accuracy of the reporting system.
RO
⊚ true
⊚ false
6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting
VE
environment: ethics, fraud, and management.
⊚ true
⊚ false
D?
?
Version 1 1
, 7) A sustainable business is one with the ability to meet the needs of today without sacrificing
the ability of future generations to meet their own needs.
⊚ true
⊚ false
ST
8) The term "big data" refers to the volume, velocity, and veracity of data.
⊚ true
UV
⊚ false
9) Predictive analytics is the process of recommending a course of action based upon
meaningful patterns and insights from collected data.
IA
⊚ true
⊚ false
_A
10) Descriptive analytics uses patterns and insights from collected data to show what has
happened.
⊚ true
⊚ false
PP
11) An opportunity cost is the cost of not doing something.
⊚ true
RO
⊚ false
12) Whether a cost is treated as direct or indirect depends on whether tracing the cost is both
possible and practical.
VE
⊚ true
⊚ false
D?
13) Variable costs are always direct costs.
⊚ true
⊚ false
?
Version 1 2
