Test Bank for Management and Cost Accounting 11e, 11th Edition by Colin Drury
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Module
Accounting
Institution
Accounting
Test Bank for Management and Cost Accounting 11e, 11th Edition by Colin Drury, Mike Tayles
ISBN-13: 3615
Full Chapters test bank included
Part 1: Introduction to Management and Cost Accounting
Chapter 1: Introduction to Management Accounting
The Users of Accounting Information
Difference...
Indicate the answer choice that best completes the statement or answers the question.
1. The planning process includes
a. setting objectives.
b. identifying means of achieving the objectives.
c. making decisions.
d. all of the above.
2. World-class companies must continuously struggle to improve performance in the dimensions of
a. price/cost.
b. service.
c. quality.
d. all of the above.
3. Total quality management emphasizes
a. zero defects.
b. continual improvement.
c. elimination of waste.
d. all of the above.
4. Management accounting is concerned with which kind of decision?
a. Product costing and pricing
b. Continuous operational improvement
c. Financial control
d. All of the above
5. The primary objective of management accounting is
a. to provide shareholders and potential investors with useful information for decision-making.
b. to provide banks and other creditors with information useful in making credit decisions.
c. to provide management with information useful for planning and control of operations.
d. to provide the relevant taxation authorities with information about taxable income.
6. Which of the following does NOT describe management accounting?
a. Evaluation of segments or products within the firm
b. Emphasis on the future
c. Externally focused
d. Detailed information
7. Setting the selling price of a company's product is an example of
a. planning.
b. control.
c. decision-making.
d. all of the above.
Page 1
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