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Test Bank for Managerial Accounting by Garrison, Libby, and Webb A+
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Created By: A SolutionTest Bank for Managerial Accounting by Garrison,
Libby, and Webb A+
Chapter 01 Managerial Accounting and the Business Environment
Multiple Choice Questions
1. Day-to-day decision making is most common to which of the following activities
managers are expected to carry on in organizations?
A. Strategy formulation.
B. Directing and motivating.
C. Planning.
D. Budgeting.
Blooms: Understand
CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Medium
Learning Objective: 01-01 Describe the functions performed by managers.
Topic: 01-02 The Work of Managers and Their Need for Managerial Accounting Information
2. Identifying alternatives and selecting the best among them is part of which of the
following activities which managers carry on in organizations?
A. Controlling.
1
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B. Directing.
C. Planning.
D. Motivating.
Blooms: Understand
CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Medium
Learning Objective: 01-01 Describe the functions performed by managers. Topic: 01-03
Planning
3. Budgeting is part of which of the following activities managers perform in organizations?
A. Controlling.
B. Directing.
C. Planning.
D. Motivating.
Blooms: Understand
CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Easy
Learning Objective: 01-01 Describe the functions performed by managers. Topic: 01-03
Planning
2
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4. Obtaining feedback is generally identified most directly with which of these functions of
management?
A. Planning.
B. Directing and motivating.
C. Controlling.
D. Decision making.
Blooms: Understand
CPA Competency: 3.1.1 Evaluates management information requirements. Difficulty: Easy
Learning Objective: 01-01 Describe the functions performed by managers. Topic: 01-05
Controlling
5. Which of the following is part of managing and improving business processes?
A. Directing
B. Lean production
C. Motivating
D. Planning
3
, Created By: A Solution
Blooms: Remember
CPA Competency: 3.1.2 Evaluates the types of information systems used and the role they play
in an organization. Difficulty: Easy
Learning Objective: 01-03 Explain the basic concepts of lean production and enterprise risk
management. Topic: 01-16 Business Process Management
6. Which is the most common risk management tactic?
A. Accept the risk.
B. Avoid the risk.
C. Reduce the risk.
D. Share the risk.
Blooms: Remember
CPA Competency: 3.1.2 Evaluates the types of information systems used and the role they play
in an organization. Difficulty: Easy
Learning Objective: 01-03 Explain the basic concepts of lean production and enterprise risk
management. Topic: 01-18 Enterprise Risk Management
4
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