Test Bank — Management Accounting, 9th Update Edition (Langfield-Smith, Smith, Andon, Hilton, Thorne, 2021) | All Chapters 1-21 Covered

TEST BANK
Management Accounting
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Langfield-Smith, Smith, Andon, Hilton, Thorne

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9th Edition
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TEST BANK
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, Test Bank
Management Accounting, 9th Update Edition
Langfield-Smith · Smith · Andon · Hilton · Thorne
9TH UPDATE EDITION
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TABLE OF CONTENTS
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PART ONE — FOUNDATIONS OF MANAGEMENT ACCOUNTING

Ch. 01 Management Accounting: Information for Creating Value and Managing Resources
Ch. 02 Management Accounting: Cost Terms and Concepts
Ch. 03 Cost Behaviour, Cost Drivers and Cost Estimation
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PART TWO — PRODUCT AND SERVICE COSTING SYSTEMS

Ch. 04 Product Costing Systems
Ch. 05 Process Costing and Operation Costing
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Ch. 06 Service Costing
Ch. 07 A Closer Look at Overhead Costs
Ch. 08 Activity-Based Costing
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PART THREE — PLANNING AND CONTROL

Ch. 09 Budgeting Systems
Ch. 10 Standard Costs for Control: Direct Material and Direct Labour
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Ch. 11 Standard Costs for Control: Flexible Budgets and Manufacturing Overhead

PART FOUR — PERFORMANCE MANAGEMENT

Ch. 12 Managing and Reporting Performance
Ch. 13 Financial Performance Measures and Incentive Schemes
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Ch. 14 Strategic Performance Measurement Systems

PART FIVE — STRATEGIC COST MANAGEMENT

Ch. 15 Managing Suppliers and Customers
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Ch. 16 Managing Costs and Quality
Ch. 17 Sustainability and Management Accounting

PART SIX — DECISION MAKING

Ch. 18 Cost Volume Profit Analysis
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Ch. 19 Information for Decisions: Relevant Costs and Benefits
Ch. 20 Pricing and Product Mix Decisions
Ch. 21 Information for Capital Expenditure Decisions

, ©. Langfield Smith, Management Accounting, 9e Chapter 01 Testbank




Chapter 01 Testbank
1.W hat type of accounting system is part of an organisation's management information
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system for internal use only?

A. Financial accounting
B. Management accounting
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C.G overnmental accounting
D. All of the given answers

2.W hich of the following statement/s about management accounting is/are true?

i. It is a part of an organisation's management information system.
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ii. It is relied on by managers to plan and control an organisation's operations.

iii. It is relied on by external users to make investment decisions.
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A. i and ii
B. i, ii and iii
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C. iii
D. ii

3. Which of the following statement/s about management accounting is/are true?
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i. It is concerned only with information obtained from the accounting records.

ii. It is concerned with financial and non-financial information.

iii. It can provide information useful for making decisions.
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A. i
B. i and ii
C. ii and iii
D. ii
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4. A strategy is:

i. another name for a long-term objective.

ii. the same as an objective.
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iii. a means by which an organisation plans to meet its mission and achieve its objectives.

, ©. Langfield Smith, Management Accounting, 9e Chapter 01 Testbank



A. i
B. ii
C.i ii
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D. i and ii

5.W hich of the following is not an objective of management accounting?

A. Providing information for making decisions
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B. Providing information for planning
C.P roviding information for control
D. Providing information for profit and loss statements

6.P lanning is:
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A. comparing actual performance against targets.
B. setting objectives and formulating plans for future operations.
C.m easuring the performance of managers against preset targets.
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D. motivating managers towards achieving organisational goals.

7.' Control' involves:

A. formulating details of operations and finances for the next financial year.
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B. comparing actual performance against targets.
C.d eciding whether to expand activities.
D. All of the given answers

8.P art of the planning process involves:
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A. formulating details of operations and finances for the next financial year.
B. comparing actual performance against targets.
C.m aking a choice between available alternatives.
D. measuring the performance of managers against preset targets.
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9.T he role of management accounting is to:

A. provide information to parties outside the organisation.
B. provide information to managers within the organisation.
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C.p rovide information to government agencies.
D. All of the given answers

10. Budgeting can be used in an organisation to:

A. motivate managers to achieve organisational goals.
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B. control operations.
C.p rovide managers with information for making decisions and planning.
D. All of the given answers