Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition (Mowen, Hansen, Heitger) – Complete Test Bank (Chapters 1–15)

TEST BANK
Managerial Accounting: The Cornerstone of Business Decision Making,

8th Edition, Mowen, Hansen, Heitger Chapters 1 - 15




Page 1
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,Table of Contents vs vs




WHY Is Managerial Accounting Important?
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1. Introduction to Managerial Accounting.
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2. Basic Managerial Accounting Concepts.
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WHAT Is Managerial Accounting?
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3. Cost Behavior, Cost Forecasting, and Segmented Income Statements.
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WHERE Does Managerial Accounting Come From?
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4. Job-Order Costing and Normal Cost (Overhead Application).
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5. Activity-Based Costing and Management
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6. Process Costing.
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HOW Is Managerial Accounting USED for Decision Making?
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7. Cost-Volume-Profit Analysis.
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8. Tactical Decision Making and Relevant Costing.
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9. Profit Planning and Flexible Budgets.
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10. Standard Costing and Variance Analysis.
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11. Performance Evaluation and Decentralization.
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12. Capital Investment Decisions.
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13. Emerging Topics in Managerial Accounting: Sustainability, Quality Cost, Lean Accounting, Inte
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rnational Issues, Enterprise Risk Management, The Managerial Accountant in Forensic/Fraud Acc
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ounting
14. Statement of Cash Flows.
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15. Financial Statement Analysis.
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Page 2
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Answers at the end of each chapter vs vs vs vs vs vs




Indicate whether the statement is true or false.
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vs v s 1.Acostaccountantwouldnormallyoccupyastaffpositionwithinanorganization.
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a. True
b. False
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2. ThefouremphasizedareasoftheCMAexaminationreflecttheneedsofmanagerialaccountingandhighlight th
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atmanagerialaccountinghas moreofaninterdisciplinaryflavorthanotherareasofaccounting.
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a. True
b. False

vs v s 3.Managementaccountinginformationisusedonlybymanufacturingorganizations.
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a. True
b. False

vs v s 4. Positionsthathavedirectresponsibilityforthebasicobjectivesofanorganizationarereferredtoaslinepositions.
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a. True
b. False

vs v s 5.Virtuallyallmanagerialaccountingpracticesweredevelopedtoassistmanagersinmaximizingprofits.
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a. True
b. False

vs v s 6.Managerialaccountingisdesignedprimarilyforinternalusers.
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a. True
b. False

vs v s 7. Managerialaccountinginformationisnotimportantfornot-for-profitorganizations.
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a. True
b. False

vs v s 8. Timeisnotacrucialelementinallphasesofthevaluechain.
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a. True
b. False

vs v s 9. Activity-
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basedcostingisalessdetailedapproachtodeterminingthecostofgoodsandservicesthantraditionalcost accounting.
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a. True
b. False
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10.Ameliacomparedthebudgetedspendingonlaborandmaterialsusedinproductiontotheactualspendingonlabor
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and materials used in production. Labor spending was higher than expected. Amelia emailed Robbie to discuss thisoutcom
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e.Thisis amanagerialaccounting-orientedissue.
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a. True
b. False




Page 3
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vs v s 11.ThepurposeoftheCertificateinPublicAccountingistoprovideminimalprofessionalqualificationforexternalauditors.
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a. True
b. False

vs v s 12.Excellentcustomerserviceisanexampleofavalue-addedactivity.
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a. True
b. False

vs v s 13.GAAPgovernsfinancialaccounting.
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a. True
b. False

vs v s 14.Managerialaccountingemphasizesthefuture.
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a. True
b. False
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15.Thevaluechainisthesetofactivitiesrequiredtodesign,develop,produce,market,anddeliverproductsandse
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rvices to customers. vs vs




a. True
b. False

vs v s 16. Thebelief thateachmember ofagroupbearsnoresponsibility forthewell-
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being ofothermembersisacommonprincipleunderlyingallethicalsystems. vs vs vs vs vs vs vs vs vs vs vs




a. True
b. False

vs v s 17.Theprocessofchoosingamongcompetingalternativesiscalleddecisionmaking.
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a. True
b. False
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18.Themanagerialactivityofmonitoringa plan'simplementationandtakingcorrectiveactionasneededisreferredt
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oasdecisionmaking.
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a. True
b. False

Indicate the answer choice that best completes the statement or answers the question.
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vs v s 19. Whichofthefollowingwouldnormallyholdalineposition?
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a. Staff accountant v s




b. Purchasing manager vs




c. General manager vs




d. Cost accountant vs




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