Accounting 241- Chapter 1 Question
and answers rated A+ 2025/2026
Managerial Accounting - correct answer ✔provides economic and financial information for managers
and other interal users
Manager's activities and responsibilites are: - correct answer ✔Planning, Directing, and Controlling
Planning - correct answer ✔requires managers to look ahead and to establish objectives. These
objectives are often diverse: maximizing short-term profits and market share, maintaining a
commitment to environmental protection, and contributing to social programs
Directing - correct answer ✔involves coordinating a company's diverse activities and human resources
to produce a smooth-running operation. This function relates to implementing planned objectives and
providing necessary incentives to motivate emplyees
Controlling - correct answer ✔is the process of keeping the company's activities on track. Managers
determine whether planned goals are being met.
Manufacturing - correct answer ✔consists of activities and processes that convert rae materials into
finished goods. These are classified as direct materials, direct labor, and manufacturing overhead
Raw Materials - correct answer ✔are the basic materials and parts used in the manufacturing process
Direct Materials - correct answer ✔raw materials that can be physically and directly associated with the
finished product during the manufacturing process are :
and answers rated A+ 2025/2026
Managerial Accounting - correct answer ✔provides economic and financial information for managers
and other interal users
Manager's activities and responsibilites are: - correct answer ✔Planning, Directing, and Controlling
Planning - correct answer ✔requires managers to look ahead and to establish objectives. These
objectives are often diverse: maximizing short-term profits and market share, maintaining a
commitment to environmental protection, and contributing to social programs
Directing - correct answer ✔involves coordinating a company's diverse activities and human resources
to produce a smooth-running operation. This function relates to implementing planned objectives and
providing necessary incentives to motivate emplyees
Controlling - correct answer ✔is the process of keeping the company's activities on track. Managers
determine whether planned goals are being met.
Manufacturing - correct answer ✔consists of activities and processes that convert rae materials into
finished goods. These are classified as direct materials, direct labor, and manufacturing overhead
Raw Materials - correct answer ✔are the basic materials and parts used in the manufacturing process
Direct Materials - correct answer ✔raw materials that can be physically and directly associated with the
finished product during the manufacturing process are :
