Test Bank for Management accounting information for creating and managing value 8th edition by Kim Langfield Smith Chapters 1-21 Covered

, Test Bank
Management accounting information for
creating and managing value 8th edition
by Kim Langfield Smith Chapters 1-21 Covered


TABLEOFCONTENT f f




1.Management Accounting:Information forcreatingvalueandmanaging resources
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2.Management Accounting:Costterms andconcepts
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3.Costbehaviour, costdriversandcostestimation
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4.Productcostingsystems
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5.Process costingandoperationcosting
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6.Service costing
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7.Acloserlookatoverheadcosts
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8.Activity-basedcosting
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9.Budgeting systems
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10.Standardcostsforcontrol:directmaterialanddirectlabour
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11.Standardcostsforcontrol:flexible budgets andmanufacturing overheads.
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12.Financialperformance reportsandtransferpricing
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13.Financialperformance measuresforinvestmentcentres,andrewardsystems
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14.Contemporaryapproachestomeasuring andmanaging performance
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15.Managing suppliersandcustomers
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16.Managing costsandquality
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17.Sustainability andmanagement accounting
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18.Costprofitvolumeanalysis
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19.Information fortacticaldecisions
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20.Pricing andproductmixdecisions
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,21.Information forcapitalexpendituredecisions
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Chapter01TestBank–StaticKEY f f f f f f




1. Whattype ofaccounting systemispart ofan organisation's management informationsystemfor internal useonly?
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A. Financialaccounting f




B. Managementaccounting f




C. Governmental accounting f




D. Allofthegivenanswers
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AACSB:Reflective f f




Difficulty: Easy f




Learning Objective: 1.03 Describe the major differences between management accounting and financial accounting information
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Topic: Roleof ManagementAccountantinValue Creation f f f f f f f




2. Which ofthefollowing statement/s about management accounting is/aretrue?
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i. Itisapartofanorganisation'smanagementinformationsystem.
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ii. Itisreliedonbymanagerstoplanandcontrolanorganisation'soperations.
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iii. Itisreliedonbyexternaluserstomakeinvestmentdecisions.
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A. iand ii
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B. i, iiand iii
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C. iii
D. ii

AACSB:Reflective f f




Difficulty: Easy f




Learning Objective: 1.02 Define management accounting in terms of value creation
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Topic: Roleof ManagementAccountantinValue Creation
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3. Which ofthefollowing statement/s about management accounting is/aretrue?
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i. It is concerned onlywith information obtained fromthe accounting records.
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ii. It isconcerned withfinancial and non-financial information.
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iii. Itcanprovideinformationusefulfor makingdecisions.
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A. i
B. iand ii
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C. iiand iii f f




D. ii

AACSB:Reflective f f




Difficulty: Medium f




Learning Objective: 1.02 Define management accounting in terms of value creation
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Topic: Roleof ManagementAccountantinValue Creation
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4. Astrategyis
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i. anothernameforalong-termobjective f f f f f




ii. thesameasanobjective f f f f




iii. ameansbywhichanorganisationplanstomeetitsmissionandachieveitsobjectives
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A. i
B. ii
C. iii
D. iand ii f f




AACSB:Reflective f f




Difficulty: Medium f




Learning Objective: 1.06 Explain the basic concepts of strategy and how management accounting systems can support strategies
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Topic: Fundamental ManagementProcesses f f f




5. Whichofthefollowing isnotanobjectiveofmanagementaccounting?
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A. Providing informationfor making decisions f f f f

, B. Providing informationfor planning
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C. Providing information for control
f f f




D. Providing information for profit and loss statements
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AACSB:Reflective
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Difficulty: Medium f




Learning Objective: 1.06 Explain the basic concepts of strategy and how management accounting systems can support strategies
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Topic: Objectives of Management Accounting
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6. Planning is
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