Test Bank for Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition by Mowen
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Course
Managerial Accounting
Institution
Managerial Accounting
Test Bank for Managerial Accounting: The Cornerstone of Business Decision Making 8e 8th Edition by Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger.
ISBN-13: 5345
Full Chapters test bank included
WHY Is Managerial Accounting Important?
1. Introduction to Managerial Accounting.
2. Basic...
Indicate whether the statement is true or false.
1. A cost accountant would normally occupy a staff position within an organization.
a. True
b. False
2. The four emphasized areas of the CMA examination reflect the needs of managerial accounting and highlight
that managerial accounting has more of an interdisciplinary flavor than other areas of accounting.
a. True
b. False
3. Management accounting information is used only by manufacturing organizations.
a. True
b. False
4. Positions that have direct responsibility for the basic objectives of an organization are referred to as line positions.
a. True
b. False
5. Virtually all managerial accounting practices were developed to assist managers in maximizing profits.
a. True
b. False
6. Managerial accounting is designed primarily for internal users.
a. True
b. False
7. Managerial accounting information is not important for not-for-profit organizations.
a. True
b. False
8. Time is not a crucial element in all phases of the value chain.
a. True
b. False
9. Activity-based costing is a less detailed approach to determining the cost of goods and services than traditional
cost accounting.
a. True
b. False
10. Amelia compared the budgeted spending on labor and materials used in production to the actual spending on labor
and materials used in production. Labor spending was higher than expected. Amelia emailed Robbie to discuss
this outcome. This is a managerial accounting-oriented issue.
a. True
b. False
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