This document provides 30 multiple choice questions from an ACC/561 Final Exam. The questions cover topics such as performance reports, budgets, the role of the treasurer, factors affecting management accounting, accounting ethics, financial accounting vs managerial accounting, the four basic financial statements, accounting transactions, accounting conventions like materiality and conservatism, nonoperating items on an income statement, value chain functions, cost drivers, break-even analysis, cost estimation techniques, activity based costing, and the purposes of cost management systems.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 questions related to accounting topics like performance reports, budgets, management accounting, financial accounting, cost accounting, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
This document provides 30 multiple choice questions from an ACC 561 Final Exam. The questions cover topics such as performance reports, budgets, management accounting, financial accounting, cost accounting, break-even analysis, and activity based costing.
Acc 561 acc/561 final exam 100% correct answersGliven
This document provides the answers to a final exam for ACC 561. It contains multiple choice questions related to performance reports, budgets, the role of the treasurer, factors affecting management accounting, principles of ethical professional practice, the importance of ethical accountants, types of accounting such as managerial accounting and financial accounting, basic accounting concepts and conventions, and management control systems.
This document contains the answers to a final exam for an accounting course. It lists multiple choice questions and answers related to performance reports, budgets, the roles of accountants, financial statements, accounting principles, and other accounting topics. The questions assess understanding of key concepts in management, financial, tax, and cost accounting.
This document provides a sample exam for ACC 561 with 50 multiple choice questions covering various accounting concepts. The questions assess understanding of controllership functions, budgeting, costing methods, performance evaluation, and management control systems.
This document provides a summary of 54 questions and answers from the ACC 561 Final Exam. It tests concepts related to performance reports, budgets, management accounting, financial accounting, cost accounting, and budgeting. Sample questions assess understanding of key terms like break-even analysis, activity-based costing, forecasting, and components of master budgets. The document aims to help students prepare for the ACC 561 exam by reviewing important accounting concepts and principles.
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This document provides a summary of a 54 question multiple choice exam for ACC 561 Final Exam. It includes questions related to accounting concepts like performance reports, budgets, managerial accounting, financial accounting, and cost accounting. It also includes questions related to accounting principles, financial statements, transactions, and costing methods. The document provides the questions but not the answers, and includes a link to purchase the full tutorial with answers.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 questions related to accounting topics like performance reports, budgets, management accounting, financial accounting, cost accounting, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
This document provides 30 multiple choice questions from an ACC 561 Final Exam. The questions cover topics such as performance reports, budgets, management accounting, financial accounting, cost accounting, break-even analysis, and activity based costing.
Acc 561 acc/561 final exam 100% correct answersGliven
This document provides the answers to a final exam for ACC 561. It contains multiple choice questions related to performance reports, budgets, the role of the treasurer, factors affecting management accounting, principles of ethical professional practice, the importance of ethical accountants, types of accounting such as managerial accounting and financial accounting, basic accounting concepts and conventions, and management control systems.
This document contains the answers to a final exam for an accounting course. It lists multiple choice questions and answers related to performance reports, budgets, the roles of accountants, financial statements, accounting principles, and other accounting topics. The questions assess understanding of key concepts in management, financial, tax, and cost accounting.
This document provides a sample exam for ACC 561 with 50 multiple choice questions covering various accounting concepts. The questions assess understanding of controllership functions, budgeting, costing methods, performance evaluation, and management control systems.
This document provides a summary of 54 questions and answers from the ACC 561 Final Exam. It tests concepts related to performance reports, budgets, management accounting, financial accounting, cost accounting, and budgeting. Sample questions assess understanding of key terms like break-even analysis, activity-based costing, forecasting, and components of master budgets. The document aims to help students prepare for the ACC 561 exam by reviewing important accounting concepts and principles.
Acc 561 final exam 54#questions with answers correct 100%versyty
This document provides a summary of a 54 question multiple choice exam for ACC 561 Final Exam. It includes questions related to accounting concepts like performance reports, budgets, managerial accounting, financial accounting, and cost accounting. It also includes questions related to accounting principles, financial statements, transactions, and costing methods. The document provides the questions but not the answers, and includes a link to purchase the full tutorial with answers.
El documento describe las generaciones de los sistemas operativos desde la Generación Cero hasta la Generación Cuatro, así como los sistemas operativos más utilizados actualmente en computadoras personales, servidores y teléfonos móviles. También presenta algunas tecnologías futuras como proyecciones holográficas, drones controlados por celular, cargadores inalámbricos y medicamentos impresos en 3D. Finalmente, brinda detalles sobre el sistema operativo Mac creado por Apple.
This document provides the questions and answers to a sample BIS/220 final exam. It tests knowledge of information systems concepts including enterprise systems, end-user computing, expert systems, privacy and data issues, document compatibility, formatting and page layout in word processing software, databases, e-commerce models, wireless networking standards, spreadsheet formulas, project feasibility analysis, systems development lifecycles, and presentation software, intranets, the internet, tagging, and content aggregators.
Este documento contiene una lista de 55 invitados para un evento. La lista incluye los nombres de las personas invitadas y en algunos casos la relación con otros invitados, como familiares o amigos.
El documento describe los sistemas binarios y cómo se utilizan en informática. Explica que los sistemas binarios solo utilizan los dígitos 0 y 1, y que este sistema es el que usan los ordenadores internamente. También describe cómo se representan textos y datos usando códigos binarios, y métodos para convertir entre los sistemas binarios y decimales, como la división sucesiva entre 2 y las operaciones básicas como suma, resta, multiplicación y división con números binarios.
Connecting with Students and Faculty through Personal and Embedded LibrarianshipALATechSource
The document outlines an agenda for a workshop on connecting with students and faculty through personal and embedded librarianship. The workshop will cover the history of personal librarian programs and embedded librarianship, innovations that can help librarians reach students and faculty individually, and strategies for establishing relationships and assisting students. Attendees will learn best practices and future trends in personal and embedded librarianship. The workshop aims to help librarians create or adapt personal librarian programs to fit their institutions.
This document contains 30 multiple choice questions that appear to be from a final exam for an accounting course. The questions cover a range of topics including generally accepted accounting principles, assertions, materiality, internal controls, auditing standards, and auditor responsibilities.
This document provides answers to a 25 question multiple choice law exam. It covers various topics of law including: [1] common law legal systems; [2] types of corporate authority; [3] limited liability for LLCs; [4] sole proprietor liability; [5] general partnership liability; [6] alternative dispute resolution methods; [7] arbitration; [8] mediation; [9] corporate director duties; [10] assumption of risk defenses; [11] ERISA vesting requirements; [12] union organizing statutes. The answers are labeled A-D and correspond to the questions provided in another document.
The document provides 30 multiple choice questions that appear to be from a law exam related to various legal topics including contracts, torts, intellectual property, business organizations, and ethics. It tests understanding of concepts like arbitration, jurisdiction, preemption, trademarks, copyrights, contracts formation and defenses, the Uniform Commercial Code, business crimes, and the Sarbanes-Oxley Act.
This document appears to be a list of 30 multiple choice questions related to business information systems. The questions cover topics like characteristics of the modern business environment, definitions of key IS/IT terms, data management processes, ERP systems, supply chain management, and more. The document claims to have answers to the questions but only includes the questions.
The document contains 30 multiple choice questions that appear to be from a final exam for a finance course. The questions cover various topics in finance including the goals of firms, primary and secondary markets, agency theory, financial ratios, time value of money, capital budgeting techniques, cost of capital, capital structure, and international finance.
This document provides answers to 30 multiple choice questions about organizational behavior, leadership, and management. The questions cover topics such as the definition of teams, skills needed by managers, types of responses to job dissatisfaction, stages of group development, and theories related to leadership, change management, power, and organizational control.
This document provides the questions and answers to the MGT/230 Final Exam. It covers topics in management including planning, decision making, ethics, organizational structure, leadership, and control systems. There are 30 multiple choice questions testing understanding of key concepts in management functions, processes, and challenges faced by organizations.
This document discusses and compares geocentric and heliocentric systems. It explains that in a geocentric system, Earth is at the center, while in a heliocentric system the sun is at the center. It also describes how planets appear to loop backwards, or retrograde motion, from the perspective of Earth and how this was explained through epicycles in the geocentric model versus actual elliptical orbits in the heliocentric model. The document also briefly outlines different coordinate systems used in astronomy like equatorial, ecliptic, and galactic coordinate systems.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 multiple choice questions related to accounting topics like managerial accounting, financial accounting, cost accounting, and ethics. The document requests that if the provided information is helpful, to leave an "A" feedback rating.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 questions related to accounting topics like performance reports, budgets, management accounting, financial accounting, cost accounting, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 questions related to accounting topics like performance reports, budgets, management accounting, financial accounting, cost accounting, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 multiple choice questions covering topics like performance reports, budgets, management accounting, financial accounting, accounting principles, inventory valuation, cost-volume-profit analysis, break-even analysis, cost behavior analysis, cost allocation, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
El documento describe las generaciones de los sistemas operativos desde la Generación Cero hasta la Generación Cuatro, así como los sistemas operativos más utilizados actualmente en computadoras personales, servidores y teléfonos móviles. También presenta algunas tecnologías futuras como proyecciones holográficas, drones controlados por celular, cargadores inalámbricos y medicamentos impresos en 3D. Finalmente, brinda detalles sobre el sistema operativo Mac creado por Apple.
This document provides the questions and answers to a sample BIS/220 final exam. It tests knowledge of information systems concepts including enterprise systems, end-user computing, expert systems, privacy and data issues, document compatibility, formatting and page layout in word processing software, databases, e-commerce models, wireless networking standards, spreadsheet formulas, project feasibility analysis, systems development lifecycles, and presentation software, intranets, the internet, tagging, and content aggregators.
Este documento contiene una lista de 55 invitados para un evento. La lista incluye los nombres de las personas invitadas y en algunos casos la relación con otros invitados, como familiares o amigos.
El documento describe los sistemas binarios y cómo se utilizan en informática. Explica que los sistemas binarios solo utilizan los dígitos 0 y 1, y que este sistema es el que usan los ordenadores internamente. También describe cómo se representan textos y datos usando códigos binarios, y métodos para convertir entre los sistemas binarios y decimales, como la división sucesiva entre 2 y las operaciones básicas como suma, resta, multiplicación y división con números binarios.
Connecting with Students and Faculty through Personal and Embedded LibrarianshipALATechSource
The document outlines an agenda for a workshop on connecting with students and faculty through personal and embedded librarianship. The workshop will cover the history of personal librarian programs and embedded librarianship, innovations that can help librarians reach students and faculty individually, and strategies for establishing relationships and assisting students. Attendees will learn best practices and future trends in personal and embedded librarianship. The workshop aims to help librarians create or adapt personal librarian programs to fit their institutions.
This document contains 30 multiple choice questions that appear to be from a final exam for an accounting course. The questions cover a range of topics including generally accepted accounting principles, assertions, materiality, internal controls, auditing standards, and auditor responsibilities.
This document provides answers to a 25 question multiple choice law exam. It covers various topics of law including: [1] common law legal systems; [2] types of corporate authority; [3] limited liability for LLCs; [4] sole proprietor liability; [5] general partnership liability; [6] alternative dispute resolution methods; [7] arbitration; [8] mediation; [9] corporate director duties; [10] assumption of risk defenses; [11] ERISA vesting requirements; [12] union organizing statutes. The answers are labeled A-D and correspond to the questions provided in another document.
The document provides 30 multiple choice questions that appear to be from a law exam related to various legal topics including contracts, torts, intellectual property, business organizations, and ethics. It tests understanding of concepts like arbitration, jurisdiction, preemption, trademarks, copyrights, contracts formation and defenses, the Uniform Commercial Code, business crimes, and the Sarbanes-Oxley Act.
This document appears to be a list of 30 multiple choice questions related to business information systems. The questions cover topics like characteristics of the modern business environment, definitions of key IS/IT terms, data management processes, ERP systems, supply chain management, and more. The document claims to have answers to the questions but only includes the questions.
The document contains 30 multiple choice questions that appear to be from a final exam for a finance course. The questions cover various topics in finance including the goals of firms, primary and secondary markets, agency theory, financial ratios, time value of money, capital budgeting techniques, cost of capital, capital structure, and international finance.
This document provides answers to 30 multiple choice questions about organizational behavior, leadership, and management. The questions cover topics such as the definition of teams, skills needed by managers, types of responses to job dissatisfaction, stages of group development, and theories related to leadership, change management, power, and organizational control.
This document provides the questions and answers to the MGT/230 Final Exam. It covers topics in management including planning, decision making, ethics, organizational structure, leadership, and control systems. There are 30 multiple choice questions testing understanding of key concepts in management functions, processes, and challenges faced by organizations.
This document discusses and compares geocentric and heliocentric systems. It explains that in a geocentric system, Earth is at the center, while in a heliocentric system the sun is at the center. It also describes how planets appear to loop backwards, or retrograde motion, from the perspective of Earth and how this was explained through epicycles in the geocentric model versus actual elliptical orbits in the heliocentric model. The document also briefly outlines different coordinate systems used in astronomy like equatorial, ecliptic, and galactic coordinate systems.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 multiple choice questions related to accounting topics like managerial accounting, financial accounting, cost accounting, and ethics. The document requests that if the provided information is helpful, to leave an "A" feedback rating.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 questions related to accounting topics like performance reports, budgets, management accounting, financial accounting, cost accounting, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 questions related to accounting topics like performance reports, budgets, management accounting, financial accounting, cost accounting, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
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This document provides the questions and multiple choice answers to the ACC/561 Final Exam. It contains 30 multiple choice questions covering topics like performance reports, budgets, management accounting, financial accounting, accounting principles, inventory valuation, cost-volume-profit analysis, break-even analysis, cost behavior analysis, cost allocation, and activity based costing. The document requests an "A" feedback rating and wishes the reader good luck on the exam.
This document provides 30 multiple choice questions from an ACC 561 Final Exam. The questions cover topics such as performance reports, budgets, managerial accounting, financial accounting, accounting principles like materiality and conservatism, financial statements, inventory accounting, cost behavior analysis, break-even analysis, cost allocation using activity-based costing, and the purposes of cost management systems.
This document provides 30 multiple choice questions from an ACC 561 Final Exam. The questions cover topics such as performance reports, budgets, managerial accounting, financial accounting, accounting principles like materiality and conservatism, financial statements, inventory accounting, cost behavior analysis, break-even analysis, cost allocation using activity-based costing, and the purposes of cost management systems.
This document provides a sample exam for ACC 561 with 50 multiple choice questions covering various accounting concepts. The questions assess understanding of controllership functions, budgeting, costing methods, performance evaluation, and management control systems.
This document provides a sample exam for ACC 561 with 50 multiple choice questions covering various accounting concepts. The questions assess understanding of controllership functions, budgeting, costing methods, performance evaluation, and management control systems.
This document provides a sample exam for ACC 561 with 50 multiple choice questions covering various accounting concepts. The questions assess understanding of controllership functions, budgeting, costing methods, performance evaluation, and management control systems.
This document contains the answers to a final exam for an accounting course. It lists multiple choice questions and answers related to performance reports, budgets, the roles of treasurers, factors affecting management accounting, principles of ethical accounting, types of accounting like managerial and financial accounting, elements of financial statements, accounting principles, and concepts like transactions and cost allocation.
This document contains a 54 question multiple choice exam on accounting topics including performance reports, budgets, managerial accounting, financial accounting, cost accounting, and budgeting. The questions cover concepts like the four financial statements, accounting principles, break-even analysis, cost behavior, activity based costing, and master budgets.
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This document provides the questions and answers to an ACC/421 final exam. It contains 30 multiple choice questions testing concepts related to accounting, financial statements, ratios, and cash flow statements. The document encourages the reader to leave positive feedback if it helped them and wishes them good luck on their exam.
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This document provides the answers to 20 multiple choice questions that appear to be from a final exam for an ACC/421 course. It emphasizes that the questions are randomly selected so may not fully cover the exam topics. It encourages the reader to leave positive feedback if the answers were helpful and wishes them good luck on the exam.
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This document provides the questions and answers to an ACC/421 final exam. It contains 30 multiple choice questions testing concepts related to accounting, financial statements, ratios, and cash flow statements. The document encourages the reader to leave positive feedback if it helped them and wishes them good luck on their exam.
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This document provides the answers to 20 multiple choice questions that appear to be from a final exam for an ACC/421 course. It emphasizes that the questions are randomly selected so may not fully cover the exam topics. It encourages the reader to leave positive feedback if the answers were helpful and wishes them good luck on the exam.
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This document provides the questions and answers to an ACC/421 final exam. It contains 30 multiple choice questions testing concepts related to accounting, financial statements, ratios, and cash flow statements. The document encourages the reader to leave positive feedback if it helped them and wishes them good luck on their exam.
This document provides a 25 question multiple choice midterm exam for an accounting module. The questions cover various topics in financial accounting, management accounting, and cost behavior analysis. Specifically, they assess understanding of topics like the differences between financial and management accounting, cost drivers, cost behavior patterns, break-even analysis, preparation of financial statements, and accounting for assets, liabilities, and equity.
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The document provides answers to multiple choice questions from the BUS 475 Final Exam across 4 sets with 100 questions each. It begins by stating it contains the correct answers to the BUS 475 Final Exam for Sets 1 through 4 or all sets. It then lists the questions and multiple choice answers for Set 1.
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This document provides the questions and answers for the ACC 421 Final Exam. It contains 36 multiple choice questions testing accounting concepts related to accruals, revenues, expenses, financial statements, accounting standards, and financial statement analysis. The questions cover topics such as deferred revenues, prepaid expenses, accounting principles, income statements, balance sheets, and calculating financial ratios.
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This document contains 30 multiple choice questions that appear to be from a final exam for a QNT/561 quality and operations management course. The questions cover topics like process types, process metrics, quality management tools, inventory management models, project management, forecasting, supply chain management and capacity management.
This document contains 30 multiple choice questions that test concepts in descriptive statistics, probability, and statistical inference. The questions cover topics such as levels of measurement, measures of central tendency, probability distributions, hypothesis testing, and experimental design. Correct answers are provided for self-assessment of understanding key statistical concepts.
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1. ACC/561 Final Exam
ANSWERS ARE HERE
Quality and inexpensive:
1) Performance reports _____.
A. ignore areas that are presumed to be running smoothly
B. provide feedback by comparing results with plans and by highlighting deviations from plans
C. are deviations from a plan
D. are quantitative expressions of action plans
2) Budgets _____.
A. ignore areas that are presumed to be running smoothly
B. are deviations from a plan
C. are quantitative expressions of action plans
D. provide feedback by comparing results with plans and by highlighting deviations from plans
3) According to the Financial Executives Institute, one function of the treasurer is _____.
A. government reporting
B. reporting and interpreting financial information
C. Short term financing
D. tax administration
4) Which of the following is not a major factor causing changes in management accounting
today?
A. E-commerce is not a major factor.
B. Declining work ethic is not a major factor.
C. Increased global competition is not a major factor.
D. Increasing importance of the service sector of the economy is not a major factor.
5) Below is a statement from theInstitute ofManagement Accountants’ Statement of Ethical
Professional Practice. “Refrain from disclosing confidential information acquired in the course of
their work except when authorized, unless legally obligated to do so.” It is an example of _____.
A. integrity
B. competence
C. confidentiality
D. objectivity
6) Ethical accountants are important to society because _____.
A. none of these answers is correct
B. they pay their taxes
2. C. the information produced is reliable
D. they will not go to prison and waste taxpayers' money
7) _____ refers to accounting information developed for managers within an organization.
A. Tax accounting
B. Financial accounting
C. Managerial accounting
D. Internal auditing
8) The primary users of management accounting information are _____.
A. suppliers
B. internal decision makers
C. governmental regulatory authorities
D. bankers
9) _____ is the field of accounting that develops information for external decision makers such
as stockholders, suppliers, banks, and government regulatory agencies.
A. Financial accounting
B. Management accounting
C. Tax accounting
D. Auditing
10) The _____ is also called the statement of financial position.
A. balance sheet
B. income statement
C. statement of retained earnings
D. statement of cash flows
11) Any event that affects the financial position of an organization and requires recording is
called a(n)_____.
A. account
B. transaction
C. posting
D. accounting change
12) _____ would not appear on the financial statements for a sole proprietorship.
A. Cost of Goods Sold
B. Paid-in Capital
C. Accumulated Depreciation
D. Unearned Sales Revenues
13) The accounting convention of _____ guides the relative sophistication of the accounting
system.
A. cost benefit
B. objectivity
C. Conservatism
D. materiality
3. 14) Mr. Bryant invested $50,000 cash in a new corporation. The new corporation will record this
transaction with a debit to_____.
A. Cash and a credit to Retained Income for $50,000
B. Cash and a credit to Paid-in Capital for $50,000
C. Retained Earnings and a credit to Cash for $50,000
D. Paid-in Capital and a credit to Retained Earnings for $50,000
15) The accounting convention of _____ means selecting the method of measurement that
yields the gloomiest immediate results.
A. objectivity
B. conservatism
C. cost benefit
D. materiality
16) The statement of cash flows is used for all of the following except_____.
A. determining a company's ability to pay its debts when they are due
B. evaluating the creditworthiness of the organization
C. showing the relationship of net income to changes in cash
D. revealing commitments that may restrict future courses of action
17) The Rebecca Company acquired merchandise inventory costing $10,000 on September 1.
The company will not pay for the inventory until October 1. This transaction will affect the
Rebecca Company by increasing the Merchandise Inventory account by $10,000 and _____.
A. decreasing the Accounts Payable account by $10,000
B. decreasing the Capital account by $10,000
C. increasing the Accounts Payable account by $10,000
D. increasing the Capital account by $10,000
18) Nonoperating items on the income statement_____.
A. reflect the effects of financial management decisions
B. appear on the income statement immediately after gross profit
C. are revenues and expenses arising from adjusting entries
D. appear only on corporate income statements
19) Which value chain function would include depreciation on transportation cost?
A. The customer service function would include depreciation on transportation cost.
B. The marketing function would include depreciation on transportation cost
C. The distribution function would include depreciation on transportation cost.
D. The production function would include depreciation on transportation cost.
20) Which value chain function would include advertising costs?
A. The customer service function would include advertising costs.
B. The production function would include advertising costs.
C. The distribution function would include advertising costs.
D. The marketing function would include advertising costs.
21) Which of the following is not a cost driver of customer services costs?
A. Travel costs are not a cost driver of customer services costs.
B. Number of service calls is not a cost driver of customer services costs.
C. Hours spent servicing products are not a cost driver of customer services costs.
4. D. All of these answers are correct
22) Hug Me Company produces dolls. Each doll sells for $20.00. Variable costs per unit total
$14.00, of which $6.25 is for direct materials and $5.25 is for direct labor. If total fixed costs are
$435,000, then the break even volume in dollars is _____.
A. $1,023,529
B. $621,429
C. $1,450,000
D. $435,000
23) If the sales price per unit is $100, the unit variable cost is $75, and total fixed costs are
$150,000, then the break even volume in dollar sales rounded to the nearest whole dollar is
_____.
A. $600,000
B. $150,000
C. $200,000
D. $1,500
24) Knothole Company sells desks at $480 per desk. The costs associated with each desk are
as follows:
Direct materials $195
Direct labor 126
Variable factory overhead 51
Total fixed costs for the period are $456,840. The break-even volume in dollars is _____.
A. $1,573,560
B. $2,030,400
C. $456,840
D. none of these answers is correct
25) _____ of approximating cost functions does not involve the analysis of past costs.
A. Visual fit analysis
B. Engineering analysis
C. High low analysis
D. least-squares regression
26) Managers should apply two principles to obtain accurate and useful cost functions. These
principles are ____.
A. plausibility and reliability
B. reliability and validity
C. plausibility and believability
D. believability and validity
27) In relation to a cost function, the term reliability means_____.
A. whether the cost function conforms to a given mathematical model
B. how well the cost function predicts future costs
C. whether the costs and activities can be easily observed
D. how well the cost function explains past cost behavior
28) _____ is a name for a system that first accumulates overhead costs for each of the activities
5. of an organization, and then assigns the costs of activities to the products, services, or other
cost objects that caused that activity.
A. Cost driver accounting
B. Activity based costing
C. Transaction costing
D. Transaction based accounting
29) _____ need cost accounting systems.
A. Service organizations and nonprofit organizations
B. Manufacturing firms and service organizations
C. Manufacturing firms, service organizations, and nonprofit organizations
D. Manufacturing firms and nonprofit organizations
30) _____ is an example of the external financial reporting purpose of the cost management
systems.
A. The product mix to optimize profitability
B. The cost of a manufacturing process
C. Budget reporting
D. The amount of inventory that should appear on the balance sheet