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Exam (elaborations)

Test Bank for Managerial Accounting by Garrison, Libby, and Webb A+

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  • October 22, 2024
  • 1887
  • 2024/2025
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Test Bank for Managerial Accounting by Garrison,

Libby, and Webb A+
Chapter 01 Managerial Accounting and the Business Environment

Multiple Choice Questions



1. Day-to-day decision making is most common to which of the following activities

managers are expected to carry on in organizations?

A. Strategy formulation.

B. Directing and motivating.

C. Planning.

D. Budgeting.




Blooms: Understand

CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Medium

Learning Objective: 01-01 Describe the functions performed by managers.

Topic: 01-02 The Work of Managers and Their Need for Managerial Accounting Information




2. Identifying alternatives and selecting the best among them is part of which of the

following activities which managers carry on in organizations?

A. Controlling.


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B. Directing.

C. Planning.

D. Motivating.




Blooms: Understand

CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Medium

Learning Objective: 01-01 Describe the functions performed by managers. Topic: 01-03

Planning




3. Budgeting is part of which of the following activities managers perform in organizations?

A. Controlling.

B. Directing.

C. Planning.

D. Motivating.




Blooms: Understand

CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Easy

Learning Objective: 01-01 Describe the functions performed by managers. Topic: 01-03

Planning


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4. Obtaining feedback is generally identified most directly with which of these functions of

management?

A. Planning.

B. Directing and motivating.

C. Controlling.

D. Decision making.




Blooms: Understand

CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Easy

Learning Objective: 01-01 Describe the functions performed by managers. Topic: 01-05

Controlling




5. Which of the following is part of managing and improving business processes?

A. Directing

B. Lean production

C. Motivating

D. Planning




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Blooms: Remember

CPA Competency: 3.1.2 Evaluates the types of information systems used and the role they play

in an organization. Difficulty: Easy

Learning Objective: 01-03 Explain the basic concepts of lean production and enterprise risk

management. Topic: 01-16 Business Process Management




6. Which is the most common risk management tactic?

A. Accept the risk.

B. Avoid the risk.

C. Reduce the risk.

D. Share the risk.




Blooms: Remember

CPA Competency: 3.1.2 Evaluates the types of information systems used and the role they play

in an organization. Difficulty: Easy

Learning Objective: 01-03 Explain the basic concepts of lean production and enterprise risk

management. Topic: 01-18 Enterprise Risk Management




4

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