Managerial Accounting: Conceptual
Exam Questions (Final) With 100%
Correct And Verified Answers
Controlling - Correct Answer-The process of gathering feedback to ensure that a plan is being properly
executed or modified as circumstances change.
Financial Accounting vs Managerial Accounting (time focus) - Correct Answer-FA= focuses on the past
MA= focuses on the future
Performance Report - Correct Answer-A schedule that compares budgeted data to actual data in order
to identify and learn from results
Product Leadership - Correct Answer-a customer value proposition used by companies like apple (having
the best products is how they attract customers)
Business Process - Correct Answer-a series of steps followed in order to carry out come task in business
Corporation Governance - Correct Answer-The system by which a company is directed and controlled
selling costs can be... - Correct Answer-either direct or indirect
the high low method - Correct Answer-(highest unit-lowest unit)/(highest price-lowest price) to change
in cost / change in activity
fixed cots per unit increases as - Correct Answer-production decreases (and vice versa)
the cost equation is - Correct Answer-Y=a + bX
Y= mixed costs (dependent)
a= fixed costs
Exam Questions (Final) With 100%
Correct And Verified Answers
Controlling - Correct Answer-The process of gathering feedback to ensure that a plan is being properly
executed or modified as circumstances change.
Financial Accounting vs Managerial Accounting (time focus) - Correct Answer-FA= focuses on the past
MA= focuses on the future
Performance Report - Correct Answer-A schedule that compares budgeted data to actual data in order
to identify and learn from results
Product Leadership - Correct Answer-a customer value proposition used by companies like apple (having
the best products is how they attract customers)
Business Process - Correct Answer-a series of steps followed in order to carry out come task in business
Corporation Governance - Correct Answer-The system by which a company is directed and controlled
selling costs can be... - Correct Answer-either direct or indirect
the high low method - Correct Answer-(highest unit-lowest unit)/(highest price-lowest price) to change
in cost / change in activity
fixed cots per unit increases as - Correct Answer-production decreases (and vice versa)
the cost equation is - Correct Answer-Y=a + bX
Y= mixed costs (dependent)
a= fixed costs
