Ch. 14 Managerial Accounting
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1. Managerial accounting applies to all types of business- True
es, including service, merchandising, and manufactur-
ing, as well as to all forms of business organizations.
True
False
2. Which of the following statements is not true about It is highly aggregated.
managerial accounting?
Reports are generated as needed.
It does not require an audit by a CPA.
It is highly aggregated.
It is primarily for internal users such as officers and
managers.
3. Which of the following is considered part of the con- Keeping the company's
trolling process? activities on track
Implementing planned objectives
Coordinating activities and human resources to pro-
duce a smooth running operation
Keeping the company's activities on track
Looking ahead and establishing objectives
4. The management of an organization performs several planning, directing, and
broad functions. They are controlling
planning, directing, and controlling.
planning, directing, and selling.
planning, manufacturing, and controlling.
directing, manufacturing, and controlling.
5. After passage of the Sarbanes-Oxley Act of 2002 CEOs and CFOs must certi-
CEOs and CFOs must certify that financial statements fy that financial statements
give a fair presentation of the company's operating give a fair presentation of
, Ch. 14 Managerial Accounting
Study online at https://quizlet.com/_j9wsa7
results. the company's operating
reports prepared by managerial accountants must results.
comply with generally accepted accounting principles
(GAAP).
reports prepared by managerial accountants must be
audited by CPAs.
the audit committee, rather than top management, is
responsible for the company's financial statements.
6. The management function that requires management planning.
to look ahead and establish objectives is:
evaluating.
directing
controlling.
planning.
7. The process of keeping the company's activities on controlling.
track is
directing.
evaluating.
controlling.
planning.
8. Which of the following is not an element of manufac- Sales manager's salary.
turing overhead?
Sales manager's salary.
Product inspector's salary.
Factory repairman's wages.
Plant manager's salary.
9. Manufacturing overhead includes all of the following direct materials.
except
maintenance.
Study online at https://quizlet.com/_j9wsa7
1. Managerial accounting applies to all types of business- True
es, including service, merchandising, and manufactur-
ing, as well as to all forms of business organizations.
True
False
2. Which of the following statements is not true about It is highly aggregated.
managerial accounting?
Reports are generated as needed.
It does not require an audit by a CPA.
It is highly aggregated.
It is primarily for internal users such as officers and
managers.
3. Which of the following is considered part of the con- Keeping the company's
trolling process? activities on track
Implementing planned objectives
Coordinating activities and human resources to pro-
duce a smooth running operation
Keeping the company's activities on track
Looking ahead and establishing objectives
4. The management of an organization performs several planning, directing, and
broad functions. They are controlling
planning, directing, and controlling.
planning, directing, and selling.
planning, manufacturing, and controlling.
directing, manufacturing, and controlling.
5. After passage of the Sarbanes-Oxley Act of 2002 CEOs and CFOs must certi-
CEOs and CFOs must certify that financial statements fy that financial statements
give a fair presentation of the company's operating give a fair presentation of
, Ch. 14 Managerial Accounting
Study online at https://quizlet.com/_j9wsa7
results. the company's operating
reports prepared by managerial accountants must results.
comply with generally accepted accounting principles
(GAAP).
reports prepared by managerial accountants must be
audited by CPAs.
the audit committee, rather than top management, is
responsible for the company's financial statements.
6. The management function that requires management planning.
to look ahead and establish objectives is:
evaluating.
directing
controlling.
planning.
7. The process of keeping the company's activities on controlling.
track is
directing.
evaluating.
controlling.
planning.
8. Which of the following is not an element of manufac- Sales manager's salary.
turing overhead?
Sales manager's salary.
Product inspector's salary.
Factory repairman's wages.
Plant manager's salary.
9. Manufacturing overhead includes all of the following direct materials.
except
maintenance.
