Question 1

Which of the following statements is true regarding ethics in decision-making?

Accepted Answer

A)   Since most business decisions are simply a matter of economics, ethical considerations should be ignored.
B)   Decision-making can have an ethical as well as an economic impact.
C)   Managerial accountants do not face ethical issues.
D)   Business managers will always agree on ethical choices.E) A) and B)
F) A) and D)

Question 2

ERP systems capture:

Accepted Answer

A)   only qualitative data.
B)   only quantitative data.
C)   both qualitative and quantitative data.
D)   the same information as traditional accounting information systems.E) All of the above
F) A) and B)

Question 3

Which of the following statements about decision-making is true?

Accepted Answer

A)   Risk should not be taken into account.
B)   Objectives should be quantitative and not qualitative.
C)   Opportunity cost should be considered.
D)   Sunk costs should usually be taken into account.E) None of the above
F) All of the above

Question 4

Which manager activity would address the decision on whether or not to accept a special order within the next few days?

Accepted Answer

A)   Sales activity
B)   Strategic planning activity
C)   Operating activity
D)   Controlling activityE) A) and C)
F) A) and B)

Question 5

You and your roommate would like to purchase a projection TV for your apartment. You have gathered the following information about the two leading models:
  You paid $150 for your current TV two years ago.
Required:

Accepted Answer

The answer of You and your roommate would like to...

Question 6

Which of the following is not one of the three primary activities of managers?

Accepted Answer

A)   Budgeting activities
B)   Planning activities
C)   Operating activities
D)   Controlling activitiesE) None of the above
F) C) and D)

Question 7

A company's decision on where to locate a new factory is most likely a result of:

Accepted Answer

A)   operating activities.
B)   operational planning.
C)   strategic planning.
D)   controlling activities.E) C) and D)
F) A) and C)

Question 8

A(n)  ____ would most likely be in charge of deciding on the type of benefit package an employee receives.

Accepted Answer

A)   Finance manager
B)   Operations/production manager
C)   Human resource manager
D)   Marketing managerE) All of the above
F) C) and D)

Question 9

Accounting information systems generate both monetary and non-monetary accounting information. List two examples of eachtype of accounting information.

Accepted Answer

Monetary accounting information generate...

Question 10

Relevant costs are costs that:

Accepted Answer

A)   do not differ between alternatives.
B)   may not be eliminated by choosing one alternative over another.
C)   have already been incurred.
D)   differ between alternatives.E) A) and D)
F) C) and D)

Question 11

Which of the following statements is true?

Accepted Answer

A)   External and internal users of accounting information have exactly the same information needs.
B)   Financial accounting is less flexible than managerial accounting.
C)   Managerial accounting provides the best information to external users.
D)   Managerial accounting emphasizes on the organization as a whole more than financial accounting.E) A) and B)
F) All of the above

Question 12

Which of the following is a characteristic of managerial accounting?

Accepted Answer

A)   It is used primarily by external users.
B)   It often lacks flexibility.
C)   It is often future-oriented.
D)   The information it provides is extremely precise.E) A) and B)
F) All of the above

Exam 1: Introduction to Managerial Accounting

A company's decision on where to locate a new factory is most likely a result of:

Correct Answer
verified

Which manager activity would address the decision on whether or not to accept a special order within the next few days?

Correct Answer
verified

ERP systems capture:

Correct Answer
verified

A(n) ____ would most likely be in charge of deciding on the type of benefit package an employee receives.

Correct Answer
verified

Which of the following statements is true regarding ethics in decision-making?

Correct Answer
verified

Accounting information systems generate both monetary and non-monetary accounting information. List two examples of eachtype of accounting information.

Correct Answer
verified
Monetary accounting information generate...
View Answer

Relevant costs are costs that:

Correct Answer
verified

Which of the following is not one of the three primary activities of managers?

Correct Answer
verified

Which of the following is a characteristic of managerial accounting?

Correct Answer
verified

Which of the following statements about decision-making is true?

Correct Answer
verified

Which of the following statements is true?

Correct Answer
verified

You and your roommate would like to purchase a projection TV for your apartment. You have gathered the following information about the two leading models: You paid $150 for your current TV two years ago. Required:

Correct Answer
verified

Exam 1: Introduction to Managerial Accounting

A company's decision on where to locate a new factory is most likely a result of:

Correct AnswerverifiedShow Answer

Which manager activity would address the decision on whether or not to accept a special order within the next few days?

Correct AnswerverifiedShow Answer

ERP systems capture:

Correct AnswerverifiedShow Answer

A(n) ____ would most likely be in charge of deciding on the type of benefit package an employee receives.

Correct AnswerverifiedShow Answer

Which of the following statements is true regarding ethics in decision-making?

Correct AnswerverifiedShow Answer

Accounting information systems generate both monetary and non-monetary accounting information. List two examples of eachtype of accounting information.

Correct AnswerverifiedMonetary accounting information generate...View AnswerShow Answer

Relevant costs are costs that:

Correct AnswerverifiedShow Answer

Which of the following is not one of the three primary activities of managers?

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of managerial accounting?

Correct AnswerverifiedShow Answer

Which of the following statements about decision-making is true?

Correct AnswerverifiedShow Answer

Which of the following statements is true?

Correct AnswerverifiedShow Answer

You and your roommate would like to purchase a projection TV for your apartment. You have gathered the following information about the two leading models: You paid $150 for your current TV two years ago. Required:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Monetary accounting information generate...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified