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Test Bank for Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition by (Mowen/Hansen/Heitger), ISBN: 9780357715345, All 15 Chapters Covered, Verified Latest Edition$22.59
Managerial Accounting: The Cornerstone Of Business
Managerial Accounting: The Cornerstone of Business
Exam (elaborations)
Test Bank for Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition by (Mowen/Hansen/Heitger), ISBN: 9780357715345, All 15 Chapters Covered, Verified Latest Edition
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Course
Managerial Accounting: The Cornerstone of Business
Institution
Managerial Accounting: The Cornerstone Of Business
Test Bank for Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition by (Mowen/Hansen/Heitger), ISBN: 9780357715345, All 15 Chapters Covered, Verified Latest Edition Test Bank for Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition by (Mowen/Hans...
ternational Issues, Enterprise Risk Management, The Managerial Accountant in Forensic/Fraud
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Accounting
14. Statement of Cash Flows.
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15. Financial Statement Analysis.
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Page 2
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,Chap 01_8e_Mowen
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Answers at the end of each chapter TR TR TR TR TR TR
Indicate whether the statement is true or false.
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TR T R 1. A cost accountant would normally occupy a staff position within an organization.
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a. True
b. False
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2. The four emphasized areas of the CMA examination reflect the needs of managerial accounting and highlig
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ht that managerial accounting has more of an interdisciplinary flavor than other areas of accounting.
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a. True
b. False
TR T R 3. Management accounting information is used only by manufacturing organizations.
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a. True
b. False
TR T R 4. Positions that have direct responsibility for the basic objectives of an organization are referred to as line positions.
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a. True
b. False
TR T R 5. Virtually all managerial accounting practices were developed to assist managers in maximizing profits.
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a. True
b. False
TR T R 6. Managerial accounting is designed primarily for internal users.
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a. True
b. False
TR T R 7. Managerial accounting information is not important for not-for-profit organizations.
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a. True
b. False
TR T R 8. Time is not a crucial element in all phases of the value chain.
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a. True
b. False
TR T R 9. Activity-
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based costing is a less detailed approach to determining the cost of goods and services than traditionalcost accountin
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g.
a. True
b. False
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10. Amelia compared the budgeted spending on labor and materials used in production to the actual spending on la
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bor and materials used in production. Labor spending was higher than expected. Amelia emailed Robbie to discuss th
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is outcome. This is a managerial accounting-oriented issue.
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a. True
b. False
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, Name: Class: Date: TR
Chap 01_8e_Mowe
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n
TR T R 11. The purpose of the Certificate in Public Accounting is to provide minimal professional qualification for externalauditors.
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a. True
b. False
TR T R 12. Excellent customer service is an example of a value-added activity.
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a. True
b. False
TR T R 13. GAAPgoverns financial accounting.
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a. True
b. False
TR T R 14. Managerial accounting emphasizes the future.
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a. True
b. False
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15. The value chain is the set of activities required to design, develop, produce, market, and deliver products a
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ndservices to customers.
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a. True
b. False
TR T R 16. The belief that each member of a group bears no responsibility for the well-
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being of other members is a commonprinciple underlying all ethical systems.
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a. True
b. False
TR T R 17. The process of choosing among competing alternatives is called decision making.
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a. True
b. False
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18. The managerial activity of monitoring a plan's implementation and taking corrective action as needed is referr
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edto as decision making.
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a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
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TR T R 19. Which of the following would normally hold a line position?
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a. Staff accountant TR
b. Purchasing manager TR
c. General manager TR
d. Cost accountant TR
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