1
,1) Which of the following items are representative of managerial accounting?
1 1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
A) Financial statement in accordance with GAAP
1 1 1 1 1
B) Monthly sales reports used internally to allocate funds to divisions
1 1 1 1 1 1 1 1 1
C) Quarterly financial information sent to investors
1 1 1 1 1
D) Audited financial statements submitted to bankers with credit application
1 1 1 1 1 1 1 1
E) Budget projections used to make logistic decisions
1 1 1 1 1 1
2) Which of the following costs are not included in the cost of manufacturing a product?
1 1 1 1 1 1 1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
A) Marketing
B) Production workers' wages 1 1
C) Factory janitor's wages 1 1
D) CEO salary 1
E) Depreciation on manufacturing equipment 1 1 1
3) Which of the following is considered a downstream cost?
1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
A) Research and development 1 1
B) Production wages 1
C) Advertising cost 1
D) Warranty cost 1
E) Cost of internet in manufacturing plant
1 1 1 1 1
4) Which of the following are examples of inventory holding costs?
1 1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
2
, A) Cost of warehouse space
1 1 1
B) Cost of shipping inventory to customers
1 1 1 1 1
C) Research and development cost 1 1 1
D) Cost of supervising inventory
1 1 1
E) Inventory spoilage cost 1 1
5) Ashley Bradshaw is the manager of one department in a large store. In this capacity, w
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
hich of the following kinds of information would she be interested in?
1 1 1 1 1 1 1 1 1 1 1
A) Economic data 1
B) Financial data 1
C) Nonfinancial data 1
D) Financial, economic, and nonfinancial data 1 1 1 1
6) All of the following are features of managerial accountingexcept:
1 1 1 1 1 1 1 1
A) information is provided primarily to insiders such as managers.
1 1 1 1 1 1 1 1
B) information includes economic and non-financial data as well as financial data.
1 1 1 1 1 1 1 1 1 1
C) information is characterized by objectivity, reliability, consistency, and accuracy.
1 1 1 1 1 1 1 1
D) information is reported continuously with a present or future orientation.
1 1 1 1 1 1 1 1 1
7) Choose the answer that isnot a distinguishing characteristic of financial accounting in
1 1 1 1 1 1 1 1 1 1 1
formation.
A) It is global information that reflects the performance of the whole company.
1 1 1 1 1 1 1 1 1 1 1
B) It is focused primarily on the future.
1 1 1 1 1 1
C) It is more concerned with financial data than physical or economic data.
1 1 1 1 1 1 1 1 1 1 1
D) It is more highly regulated than managerial accounting information.
1 1 1 1 1 1 1 1
3
, 8) Managerial accounting information is limited or restricted by which of the following au
1 1 1 1 1 1 1 1 1 1 1 1
thorities or principles?
1 1
A) Securities and Exchange Commission 1 1 1
B) Generally Accepted Accounting Principles 1 1 1
C) Managerial Accounting Standards Board 1 1 1
D) Value-Added Principle 1
9) Select theincorrect statement regarding the relationship between type of user and type of in
1 1 1 1 1 1 1 1 1 1 1 1 1
formation.
A) Middle managers need more nonfinancial, or operational data than do senior e
1 1 1 1 1 1 1 1 1 1 1
xecutives.
B) Assembly line supervisors need more immediate feedback on performance than do se
1 1 1 1 1 1 1 1 1 1 1
nior executives.
1
C) Senior executives need less aggregated information than do lower-level managers.
1 1 1 1 1 1 1 1 1
D) Senior executives use general economic information as well as financial information.
1 1 1 1 1 1 1 1 1 1
10) Which group would use managerial accounting data of XY Company?
1 1 1 1 1 1 1 1 1
A) Stockholders
B) Managers
C) Executives
D) Both managers and executives
1 1 1
E) All of the groups would use managerial accounting data
1 1 1 1 1 1 1 1
11) Which of the following is a feature of managerial accounting information?
1 1 1 1 1 1 1 1 1 1
4
,1) Which of the following items are representative of managerial accounting?
1 1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
A) Financial statement in accordance with GAAP
1 1 1 1 1
B) Monthly sales reports used internally to allocate funds to divisions
1 1 1 1 1 1 1 1 1
C) Quarterly financial information sent to investors
1 1 1 1 1
D) Audited financial statements submitted to bankers with credit application
1 1 1 1 1 1 1 1
E) Budget projections used to make logistic decisions
1 1 1 1 1 1
2) Which of the following costs are not included in the cost of manufacturing a product?
1 1 1 1 1 1 1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
A) Marketing
B) Production workers' wages 1 1
C) Factory janitor's wages 1 1
D) CEO salary 1
E) Depreciation on manufacturing equipment 1 1 1
3) Which of the following is considered a downstream cost?
1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
A) Research and development 1 1
B) Production wages 1
C) Advertising cost 1
D) Warranty cost 1
E) Cost of internet in manufacturing plant
1 1 1 1 1
4) Which of the following are examples of inventory holding costs?
1 1 1 1 1 1 1 1 1
Note: Check all that apply.
1 1 1 1
2
, A) Cost of warehouse space
1 1 1
B) Cost of shipping inventory to customers
1 1 1 1 1
C) Research and development cost 1 1 1
D) Cost of supervising inventory
1 1 1
E) Inventory spoilage cost 1 1
5) Ashley Bradshaw is the manager of one department in a large store. In this capacity, w
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
hich of the following kinds of information would she be interested in?
1 1 1 1 1 1 1 1 1 1 1
A) Economic data 1
B) Financial data 1
C) Nonfinancial data 1
D) Financial, economic, and nonfinancial data 1 1 1 1
6) All of the following are features of managerial accountingexcept:
1 1 1 1 1 1 1 1
A) information is provided primarily to insiders such as managers.
1 1 1 1 1 1 1 1
B) information includes economic and non-financial data as well as financial data.
1 1 1 1 1 1 1 1 1 1
C) information is characterized by objectivity, reliability, consistency, and accuracy.
1 1 1 1 1 1 1 1
D) information is reported continuously with a present or future orientation.
1 1 1 1 1 1 1 1 1
7) Choose the answer that isnot a distinguishing characteristic of financial accounting in
1 1 1 1 1 1 1 1 1 1 1
formation.
A) It is global information that reflects the performance of the whole company.
1 1 1 1 1 1 1 1 1 1 1
B) It is focused primarily on the future.
1 1 1 1 1 1
C) It is more concerned with financial data than physical or economic data.
1 1 1 1 1 1 1 1 1 1 1
D) It is more highly regulated than managerial accounting information.
1 1 1 1 1 1 1 1
3
, 8) Managerial accounting information is limited or restricted by which of the following au
1 1 1 1 1 1 1 1 1 1 1 1
thorities or principles?
1 1
A) Securities and Exchange Commission 1 1 1
B) Generally Accepted Accounting Principles 1 1 1
C) Managerial Accounting Standards Board 1 1 1
D) Value-Added Principle 1
9) Select theincorrect statement regarding the relationship between type of user and type of in
1 1 1 1 1 1 1 1 1 1 1 1 1
formation.
A) Middle managers need more nonfinancial, or operational data than do senior e
1 1 1 1 1 1 1 1 1 1 1
xecutives.
B) Assembly line supervisors need more immediate feedback on performance than do se
1 1 1 1 1 1 1 1 1 1 1
nior executives.
1
C) Senior executives need less aggregated information than do lower-level managers.
1 1 1 1 1 1 1 1 1
D) Senior executives use general economic information as well as financial information.
1 1 1 1 1 1 1 1 1 1
10) Which group would use managerial accounting data of XY Company?
1 1 1 1 1 1 1 1 1
A) Stockholders
B) Managers
C) Executives
D) Both managers and executives
1 1 1
E) All of the groups would use managerial accounting data
1 1 1 1 1 1 1 1
11) Which of the following is a feature of managerial accounting information?
1 1 1 1 1 1 1 1 1 1
4
