100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank - Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds, All Chapters 1-14|Complete Guide A+ $24.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. Fundamental Managerial Accounting Concepts, 10e
  4.  
  5. Fundamental Managerial Accounting Concepts, 10e

Exam (elaborations)

Test Bank - Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds, All Chapters 1-14|Complete Guide A+
 0 purchase
  • Course
  • Fundamental Managerial Accounting Concepts, 10e
  • Institution
  • Fundamental Managerial Accounting Concepts, 10e

Test Bank - Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds, All Chapters 1-14|Complete Guide A+

Preview 4 out of 866  pages

Document information

  • October 3, 2024
  • 866
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • 10th edition
  • by edmonds
  • test bank fundamental managerial accounting conc
  • test bank
  • fundamental managerial accounting concepts

Written for

  • Fundamental Managerial Accounting Concepts, 10e
  • Fundamental Managerial Accounting Concepts, 10e

Seller

avatar-seller
Impressivegrades

Reviews received

Content preview

uytredsa


Test Bank for
Fundamental Managerial Accounting Concepts, 10th Edition by Edmonds
M
Chapter 1-14
Answers Included ✅
Chapter 01 10e
PR
1) Which of the following items are representative of managerial accounting?
Note: Check all that apply.

A) Financial statement in accordance with GAAP
B) Monthly sales reports used internally to allocate funds to divisions
C) Quarterly financial information sent to investors
ES
D) Audited financial statements submitted to bankers with credit application
E) Budget projections used to make logistic decisions
SI
2) Which of the following costs are not included in the cost of manufacturing a product?
Note: Check all that apply.
VE
A) Marketing
B) Production workers' wages
C) Factory janitor's wages
D) CEO salary
E) Depreciation on manufacturing equipment
G

3) Which of the following is considered a downstream cost?
R
Note: Check all that apply.

A) Research and development
AD
B) Production wages
C) Advertising cost
D) Warranty cost
E) Cost of internet in manufacturing plant
ES

4) Which of the following are examples of inventory holding costs?
Note: Check all that apply.

uytreds

, uytredsa




A) Cost of warehouse space
M
B) Cost of shipping inventory to customers
C) Research and development cost
D) Cost of supervising inventory
PR
E) Inventory spoilage cost




5) Ashley Bradshaw is the manager of one department in a large store. In this capacity,
ES
which of the following kinds of information would she be interested in?


A) Economic data
B) Financial data
C) Nonfinancial data
SI
D) Financial, economic, and nonfinancial data
VE
6) All of the following are features of managerial accountingexcept:


A) information is provided primarily to insiders such as managers.
B) information includes economic and non-financial data as well as financial data.
C) information is characterized by objectivity, reliability, consistency, and accuracy.
G
D) information is reported continuously with a present or future orientation.
R
7) Choose the answer that isnot a distinguishing characteristic of financial accounting
AD
information.


A) It is global information that reflects the performance of the whole company.
B) It is focused primarily on the future.
C) It is more concerned with financial data than physical or economic data.
ES
D) It is more highly regulated than managerial accounting information.




uytreds

, uytredsa
M
8) Managerial accounting information is limited or restricted by which of the following
authorities or principles?
PR
A) Securities and Exchange Commission
B) Generally Accepted Accounting Principles
C) Managerial Accounting Standards Board
D) Value-Added Principle
ES
9) Select theincorrect statement regarding the relationship between type of user and type of
information.
SI
A) Middle managers need more nonfinancial, or operational data than do senior
executives.
B) Assembly line supervisors need more immediate feedback on performance than do
senior executives.
VE
C) Senior executives need less aggregated information than do lower-level managers.
D) Senior executives use general economic information as well as financial information.




10) Which group would use managerial accounting data of XY Company?
G
A) Stockholders
B) Managers
R
C) Executives
D) Both managers and executives
E) All of the groups would use managerial accounting data
AD

11) Which of the following is a feature of managerial accounting information?
ES

uytreds

, uytredsa




A) Information is not distributed to the public
M
B) Information reports on the company as a whole
C) Information is focused on the past
D) Information is reported annually
PR

12) Select thecorrect statement regarding managerial and financial accounting.
ES
A) Users of managerial accounting information desire greater aggregation than do users
of financial accounting information.
B) Both managerial and financial accounting use economic and physical data in addition
to financial data.
C) Financial accounting is more highly regulated than managerial accounting.
SI
D) Timeliness is more important in financial accounting than in managerial accounting.
VE
13) Which of the following most exemplifies the value-added principle?


A) An ongoing process where continuous improvement is the goal.
B) A competitive management program that emphasizes quality.
C) Information gathering and reporting activities should be restricted to those activities
G
that add value in excess of their cost.
D) Managerial accounting information is measured in economic, physical, and financial
terms.
R
AD
14) Which of the following costs would be classified as a direct cost for a company that
produces motorcycles?
ES

uytreds

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Impressivegrades. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $24.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$24.99
  • (0)
Add to cart
Added