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Exam (elaborations)

Managerial Accounting Final Exam (100% CORRECT).

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  • Managerial Accounting
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  • Managerial Accounting

Managerial Accounting Final Exam (100% CORRECT).

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  • August 11, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Managerial Accounting
  • Managerial Accounting
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Professorkaylee
Managerial Accounting Final Exam
(100% CORRECT).


Balanced Scorecard ANS - an integrated set of performance measures that are derived from and support
the organization's strategy



Common fixed cost ANS - a fixed cost that supports more than one business segment, but is not
traceable in whole or in part to any one of the business segments



Cost center ANS - a business segment whose manager has control over costs but has no control over
revenue or investments in operating assets



Decentralized organization ANS - an organization in which decision-making authority is not confined to a
few top executives but rather is spread throughout the organization



Economic Value Added (EVA) ANS - a concept similar to residual income in which a variety of
adjustments may be made to GAAP financial statements for performance evaluation purposes



Investment Center ANS - a business segment whose manager has control over cost, revenue, and
investments in operating assets



Margin ANS - net operating income divided by sales



Net Operating Income ANS - Income before interest and income taxes have been deducted



Operating Assets ANS - cash, accounts receivable, inventory, plant and equipment, and all other assets
held for operating purposes

, Profit Center ANS - A business segment whose manager has control over cost and revenue but has no
control over investments in operating assets



Residual income ANS - the net operating income that an investment center earns above the minimum
required return on its operating assets



Responsibility center ANS - any business segment whose manager has control over costs, revenues, or
investments in operating assets



Return on Investment (ROI) ANS - Net operating income divided by average operating assets. It also
equals margin multiplied by turnover



Segment ANS - any part or activity of an organization about which managers seek cost, revenue, or
profit data



Segment margin ANS - a segment's contribution margin less its traceable fixed costs. It represents the
margin available after a segment has covered all of its own traceable costs



Traceable fixed cost ANS - a fixed cost that is incurred because of the existence of a particular business
segment and that would be eliminated if the segment were eliminated



Turnover ANS - sales divided by average operating assets



Market price ANS - the price charged for an item on the open market



Negotiated transfer price ANS - a transfer price agreed on between buying and selling divisions



Range of acceptable transfer prices ANS - The range of transfer prices within which the profits of both
the selling division and the buying division would increase as a result of a transfer



Suboptimization ANS - An overall level of profits that is less than a segment or a company is capable of
earning

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