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Test Bank for Cost Management Measuring, Monitoring, and Motivating Performance 3rd Canadian Edition By Leslie Eldenburg Susan Wolcott Lian Hsuan Chen Gail Cook (All Chapters 100% Original Verified, A+ Grade)$29.49
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Test Bank for Cost Management Measuring, Monitoring, and Motivating Performance 3rd Canadian Edition By Leslie Eldenburg Susan Wolcott Lian Hsuan Chen Gail Cook (All Chapters 100% Original Verified, A+ Grade)
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Course
Cost Management Measuring
Institution
Cost Management Measuring
Test Bank for Cost Management Measuring, Monitoring, and Motivating Performance 3rd Canadian Edition By Leslie Eldenburg Susan Wolcott Lian Hsuan Chen Gail Cook (All Chapters 100% Original Verified, A+ Grade)
Test Bank for Cost Management Measuring, Monitoring, and Motivating Performance 3rd Can...
,1-2 Test Bank for Cost Management, Third Canadian Edition
TRUE-FALSE STATEMENTS
1. A vision statement is one way to clarify an organization’s basic purpose and ideology.
Answer: True
Difficulty: Easy
Learning Objective: Describe the process of strategic management and decision making.
CPA: Management Accounting
Bloomcode: Knowledge
2. Most managers follow a standard template and format when writing a vision statement.
Answer: False
Difficulty: Easy
Learning Objective: Describe the process of strategic management and decision making.
CPA: Management Accounting
Bloomcode: Knowledge
3. A vision statement helps employees understand how to deal with various stakeholder groups.
Answer: True
Difficulty: Easy
Learning Objective: Describe the process of strategic management and decision making.
CPA: Management Accounting
Bloomcode: Knowledge
4. Organizational core competencies are the tactics that managers use to take advantage of the
vision.
Answer: False
Difficulty: Easy
Learning Objective: Describe the process of strategic management and decision making.
CPA: Management Accounting
Bloomcode: Knowledge
5. Accounting information is the only thing managers need to make financial decisions.
Answer: False
Difficulty: Easy
Learning Objective: Explain the role of accounting information in strategic management.
CPA: Management Accounting
Bloomcode: Knowledge
, The Role of Accounting Information in Ethical Management Decision Making 1-3
6. Accounting information is used to monitor operations by comparing actual results to planned
results.
Answer: True
Difficulty: Easy
Learning Objective: Explain the role of accounting information in strategic management.
CPA: Management Accounting
Bloomcode: Knowledge
7. Accounting information cannot be used to motivate employee behavior.
Answer: False
Difficulty: Easy
Learning Objective: Explain the role of accounting information in strategic management.
CPA: Management Accounting
Bloomcode: Knowledge
8. Cost accounting information is used for both external reporting and internal decision making.
Answer: True
Difficulty: Easy
Learning Objective: Explain the role of accounting information in strategic management.
CPA: Management Accounting
Bloomcode: Knowledge
9. Cost accounting information, such as the valuation of ending inventory, is shown on external
financial statements.
Answer: True
Difficulty: Easy
Learning Objective: Explain the role of accounting information in strategic management.
CPA: Management Accounting
Bloomcode: Knowledge
10. Because accounting information is highly objective and quantitative in nature, it is not subject to
uncertainties or management bias.
, 1-4 Test Bank for Cost Management, Third Canadian Edition
11. Uncertainty and bias reduce decision quality.
Answer: True
Difficulty: Easy
Learning Objective: Identify the types of control systems that managers use.
Learning Objective: Appreciate how biases affect management decision making.
CPA: Management Accounting
Bloomcode: Knowledge
12. Uncertainties cause decision makers to ignore weaknesses in a preferred course of action.
Answer: False
Difficulty: Easy
Learning Objective: Identify the types of control systems that managers use.
CPA: Management Accounting
Bloomcode: Knowledge
13. Uncertainties and biases do not affect external financial reports, because they are based on
objective standards.
Answer: False
Difficulty: Easy
Learning Objective: Identify the types of control systems that managers use.
Learning Objective: Appreciate how biases affect management decision making.
CPA: Management Accounting
Bloomcode: Knowledge
14. Because we can never completely remove biases and uncertainty from decision-making,
higher-quality decision processes are often imprecise.
Answer: True
Difficulty: Easy
Learning Objective: Identify the types of control systems that managers use.
Learning Objective: Appreciate how biases affect management decision making.
CPA: Management Accounting
Bloomcode: Knowledge
15. Higher-quality decisions result from higher-quality information, reports, and decision-making
processes.
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