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TEST BANK
Principles of Cost Accounting
by Edward Vanderbeck
17th Edition
N
U
R
SE
D
O
C
S
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Test Bank for Principles of Cost Accounting 17th Edition
1.The business entity that converts purchased raw materials into finished goods by using labor, technology, and
facilitiesis a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Not-for-profit service agency.
ANSWER: a
RATIONALE: The business entity that converts purchased raw materials into finished goods by using labor,
technology, and facilities is a manufacturer.
POINTS: 1
DIFFICULTY: Easy
N
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
ACCREDITING STAN AACSB Analytic
U
DARDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Business Applications
R
OTHER: Bloom's: Remembering
2. The business entity that purchases finished goods for resale is a:
SE
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is a merchandiser.
D
POINTS: 1
DIFFICULTY: Easy
O
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03 -
RDS: MeasurementBUSPROG.03 -
C
Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
S
3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to
theconsumer is a:
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service business.
ANSWER: c
RATIONALE: A wholesaler purchases goods from the producer and sells them to the retailer.
POINTS: 1
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DIFFICULTY: Easy
N
U
R
SE
D
O
C
S
kjhgfds
, kjhgfdsa
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03 -
RDS: MeasurementBUSPROG.03 -
Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
4. Examples of service businesses include:
a. Airlines, accountants, and hair stylists.
b. Department stores, poster shops, and wholesalers.
N
c. Aircraft producers, home builders, and machine tool makers.
d. None of these are correct.
ANSWER: a
U
RATIONALE: Examples of service businesses include airlines, architects, and hair stylists.
POINTS: 1
R
DIFFICULTY: Moderate
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
SE
ACCREDITING STAN AACSB Reflective Thinking
DARDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.06 - Reflective Thinking
IMA-Business Applications
OTHER: Bloom's: Understanding
D
5. ISO 9000 is a set of international standards for:
a. determining the selling price of a product.
b. cost control.
O
c. quality management.
d. delivering product,
ANSWER: c
C
RATIONALE: ISO 9000 is a set of international standards for quality management.
POINTS: 1
DIFFICULTY: Easy
S
LEARNING OBJECTIVES: PRIN.EDWA.16.1 - Introduction
ACCREDITING STANDAR AACSB Analytic
DS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Strategic Planning
OTHER: Bloom's: Remembering
6. Unit cost information is important for making all of the following marketing decisions except:
a. Determining the selling price of a product.
kjhgfds
TEST BANK
Principles of Cost Accounting
by Edward Vanderbeck
17th Edition
N
U
R
SE
D
O
C
S
kjhgfds
, kjhgfdsa
Test Bank for Principles of Cost Accounting 17th Edition
1.The business entity that converts purchased raw materials into finished goods by using labor, technology, and
facilitiesis a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Not-for-profit service agency.
ANSWER: a
RATIONALE: The business entity that converts purchased raw materials into finished goods by using labor,
technology, and facilities is a manufacturer.
POINTS: 1
DIFFICULTY: Easy
N
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
ACCREDITING STAN AACSB Analytic
U
DARDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Business Applications
R
OTHER: Bloom's: Remembering
2. The business entity that purchases finished goods for resale is a:
SE
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is a merchandiser.
D
POINTS: 1
DIFFICULTY: Easy
O
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03 -
RDS: MeasurementBUSPROG.03 -
C
Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
S
3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to
theconsumer is a:
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service business.
ANSWER: c
RATIONALE: A wholesaler purchases goods from the producer and sells them to the retailer.
POINTS: 1
kjhgfds
, kjhgfdsa
DIFFICULTY: Easy
N
U
R
SE
D
O
C
S
kjhgfds
, kjhgfdsa
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
ACCREDITING STANDA AACSB Analytic ACCT.AICPA.FN.03 -
RDS: MeasurementBUSPROG.03 -
Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
4. Examples of service businesses include:
a. Airlines, accountants, and hair stylists.
b. Department stores, poster shops, and wholesalers.
N
c. Aircraft producers, home builders, and machine tool makers.
d. None of these are correct.
ANSWER: a
U
RATIONALE: Examples of service businesses include airlines, architects, and hair stylists.
POINTS: 1
R
DIFFICULTY: Moderate
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
SE
ACCREDITING STAN AACSB Reflective Thinking
DARDS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.06 - Reflective Thinking
IMA-Business Applications
OTHER: Bloom's: Understanding
D
5. ISO 9000 is a set of international standards for:
a. determining the selling price of a product.
b. cost control.
O
c. quality management.
d. delivering product,
ANSWER: c
C
RATIONALE: ISO 9000 is a set of international standards for quality management.
POINTS: 1
DIFFICULTY: Easy
S
LEARNING OBJECTIVES: PRIN.EDWA.16.1 - Introduction
ACCREDITING STANDAR AACSB Analytic
DS: ACCT.AICPA.FN.03 - Measurement
BUSPROG.03 - Analytic
IMA-Strategic Planning
OTHER: Bloom's: Remembering
6. Unit cost information is important for making all of the following marketing decisions except:
a. Determining the selling price of a product.
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