Test Bank for Cost Accounting: A Data Analytics Approach: 2024 Release by Margaret Christ, Vernon Richardson

Answers Included ✅
Chap 01 2024 Release -
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Creating value through designing, manufacturing, selling, or trading products or services at a
price that is greater than the cost of creating and distributing those products or services is the
goal of which type of which of the following organizations?
A) Government
B) Nonprofit
C) For-profit
D) Charities

Question Details
AACSB : Reflective Thinking
AICPA : BB Industry
AICPA : FN Measurement
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 1.1 Describe why companies exist and how they create value.
Topic : Companies Create Value
Type : Static
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 01-01 (Static) Creating value through
designing, manufacturing,...




1

,2) Which of the following is a strategic decision that management must make in order to
achieve its goal of maximizing long-term profits?
A) How often to file taxes
B) What price to set for company stock
C) Who to appoint as CEO
D) What price to charge customers

Question Details
AACSB : Reflective Thinking
AICPA : BB Industry
AICPA : FN Measurement
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 1.1 Describe why companies exist and how they create value.
Topic : Companies Create Value
Type : Static
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 01-02 (Static) Which of the following is...



3) Considering the creation of value at a university, the graduates who get jobs would be which
element of the value chain?
A) Inputs
B) Processing
C) Pricing
D) Output

Question Details
AACSB : Analytical Thinking
AICPA : BB Industry
AICPA : FN Measurement
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 1.1 Describe why companies exist and how they create value.
Topic : Companies Create Value
Type : Static
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 01-03 (Static) Considering the creation of
value...




2

,4) All of the items, events, and interactions that determine a company’s financial health and
well-being is
A) management accounting.
B) business process.
C) business value.
D) business planning.

Question Details
AACSB : Reflective Thinking
AICPA : BB Industry
AICPA : FN Measurement
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 1.1 Describe why companies exist and how they create value.
Topic : Companies Create Value
Type : Static
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 01-04 (Static) All of the items, events,...



5) A coordinated, standardized set of activities conducted by both people and equipment to
accomplish a specific task is
A) management accounting.
B) business process.
C) business value.
D) business planning.

Question Details
AACSB : Reflective Thinking
AICPA : BB Industry
AICPA : FN Measurement
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 1.1 Describe why companies exist and how they create value.
Topic : Companies Create Value
Type : Static
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 01-05 (Static) A coordinated, standardized set
of...




3

, 6) A chain of critical business processes that create business value at a company is a(n)
A) significant value.
B) process chain.
C) business chain.
D) value chain.

Question Details
AACSB : Reflective Thinking
AICPA : BB Industry
AICPA : FN Measurement
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 1.1 Describe why companies exist and how they create value.
Topic : Companies Create Value
Type : Static
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 01-06 (Static) A chain of critical business...



7) Which of the following are the activities that directly create value for the company and its
customers?
A) Primary activities
B) Secondary activities
C) Supporting activities
D) Infrastructure activities

Question Details
AACSB : Reflective Thinking
AICPA : BB Industry
AICPA : FN Measurement
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 1.1 Describe why companies exist and how they create value.
Topic : Companies Create Value
Type : Static
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 01-07 (Static) Which of the following are...




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