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Test Bank for Introduction To Managerial Accounting 6th Edition By Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam A+ $14.99
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Test Bank for Introduction To Managerial Accounting 6th Edition By Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam A+
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Test Bank for Introduction To Managerial Accounting 6th Edition By Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam A+

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  • March 9, 2024
  • 1901
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • 9781260060416
  • ntroduction to managerial accounting 6th edition
  • 6th edition by peter c brewer
  • peter c brewer ray h garrison
  • test bank
  • test bank for introduction to managerial accountin

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Test Bank for Introduction To Managerial Accounting 6th Edition By Peter C




Test Bank for Introduction To Managerial
Accounting 6th Edition By Peter C. Brewer, Ray H.
Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh
Vaidyanathan A+




A+ Page 1

, Test Bank for Introduction To Managerial Accounting 6th Edition By Peter C
Chapter 01 - An Introduction to Managerial Accounting


Chapter 01
An Introduction to Managerial Accounting




True / False Questions



1. Managers carry out three major activities: planning, implementation, and control.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-02 Strategy
Topic: 01-03 Planning
Topic: 01-04 Implementation
Topic: 01-05 Control



2. The theory of constraint (TOC) framework focuses on effectively managing constraints as
the key to success.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 01-02 Understand the role of globalization and the lean business model in influencing managerial accounting.
Topic: 01-24 The Theory of Constraints



3. Managerial Accounting reports are prepared for external users while Financial Accounting
reports are prepared for internal users.
FALSE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-06 Financial and Managerial Accounting
Topic: 01-07 For the Managers




1-1




A+ Page 2

, Test Bank for Introduction To Managerial Accounting 6th Edition By Peter C



Chapter 01 - An Introduction to Managerial Accounting



4. Merchandising firms largely refer to retail and wholesale outlets that buy goods from
suppliers and resell them to customers.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-01 The Management Cycle and the Need for Managerial Accounting Information



5. Merchandising and manufacturing firms generate revenue by selling products.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-01 The Management Cycle and the Need for Managerial Accounting Information



6. Service firms do not sell any products but generate revenues by offering one or more types
of services.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-01 The Management Cycle and the Need for Managerial Accounting Information



7. Managers assign tasks to employees, arbitrate disputes, answer questions, solve on the spot
problems, and make many decisions that affect customers and employees, which in turn, will
likely influence future financial and nonfinancial performance.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-04 Implementation




1-2



A+ Page 3

, Test Bank for Introduction To Managerial Accounting 6th Edition By Peter C



Chapter 01 - An Introduction to Managerial Accounting



8. Planning involves selecting a course of action and specifying how the action will be
implemented.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-03 Planning



9. Control involves the process of instituting procedures and then obtaining feedback to
ensure that all parts of the organization are functioning effectively and moving toward overall
company goals.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-05 Control



10. Strategy pertains to the general direction in which an organization plans to move to
achieve its goals and objectives.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-02 Strategy



11. Management accountants are not required to follow the generally accepted accounting
principles that are used for external financial reporting when preparing reports for internal
users.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Understand the basics of managerial accounting.
Topic: 01-06 Financial and Managerial Accounting
Topic: 01-12 Regulation




1-3



A+ Page 4

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