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 For Introduction to Managerial Accounting Canadian 5th Edition By Brewer - Test Bank £24.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Accounting - Test Bank
  4.  
  5. Accounting - Test Bank
  6.  
  7. Accounting - Test Bank

Exam (elaborations)

Test Bank For Introduction to Managerial Accounting Canadian 5th Edition By Brewer - Test Bank
 13 views  0 purchase

Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Reference: 03-08 The Bus Company uses a job-order costing system. The following information was recorded for September: Job Number 1 2 3 4 Sep...

[Show more]

Preview 4 out of 1212  pages

Document information

  • September 26, 2023
  • 1212
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • test bank for introduction to managerial accountig

Written for

All documents for this subject (74)

Seller

avatar-seller
ExamsExpert

Reviews received

Content preview

,Exam

Name___________________________________


MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

1) The implementation phase includes all of these activities EXCEPT: 1)
A) solve on-the-spot problems
B) assign tasks to employees
C) making Short-term and Long-term decisions.
D) selecting a course of action.
Answer: D
Explanation: A)
B)
C)
D)

2) Which of the following statements is not true? 2)
A) Financial accounting presents a historical perspective of business activities.
B) Financial accounting and managerial accounting are independent of each other.
C) Managerial accounting has a strong orientation towards the future.
D) Financial accounting, due to the requirements of regulation, is mandatory for
businesses.
Answer: B
Explanation: A)
B)
C)
D)

3) Companies using the just-in-time (JIT) approach hope to achieve: 3)
A) reduction of costs associated with setup by producing in large batches.
B) reduced defect rates, resulting in less waste and greater customer satisfaction.
C) gains in production flexibility.
D) the hiring of specialized workers to increase production.
Answer: B
Explanation: A)
B)
C)
D)




1

,4) In order to eliminate waste, companies must adopt and implement one or more 4)
management practices that focus on different aspects of the lean business model such as:
A) maintaining inventories large enough to shield against all unanticipated disruptions.
B) Just-in-Time.
C) Activity-Based Costing.
D) multi-dimensional performance measurement systems.
Answer: B
Explanation: A)
B)
C)
D)

5) Managerial accounting is regulated by: 5)
A) IFRS. B) ASPE.
C) GAAP. D) no prescribed standards are followed.
Answer: D
Explanation: A)
B)
C)
D)

6) Corporate governance: 6)
A) if effective, should enhance stakeholders' confidence that the organization is being
managed in their best interests.
B) ensures the personal interests of top management are fully achieved.
C) is only important to non-publicly traded companies.
D) is a department within Canada Revenue with a mandate to ensure all corporations
file annual tax returns.
Answer: A
Explanation: A)
B)
C)
D)

7) Which of the following is NOT included in Codes of Ethics for professional 7)
accountants?
A) Professional competence B) Compensation
C) Objectivity D) Confidentiality
Answer: B
Explanation: A)
B)
C)
D)




2

, 8) Activities that do not add value to a product or service that customers are willing to pay 8)
for are considered to be:
A) normal business activities.
B) a constraint.
C) part of the overhead costs of a business.
D) non-value-added activities.
Answer: D
Explanation: A)
B)
C)
D)

9) Benchmarking begins with: 9)
A) studying organizations that are the best at a particular task.
B) completely redesigning a business process to improve it.
C) a determination to only build products to meet specific customer orders.
D) determining the constraints within a given manufacturing process.
Answer: A
Explanation: A)
B)
C)
D)

10) What is the professional designation for the majority of professional accountants in 10)
Canada?
A) Chartered Management Accountants B) Certified Public Accountants
C) Chartered Professional Accountants D) Chartered Certified Accountants
Answer: C
Explanation: A)
B)
C)
D)

11) Which of the following is NOT a benefit of a just-in-time (JIT) system? 11)
A) The time required to fill an order is reduced, resulting in quicker response to
customers and consequentially greater potential sales.
B) Funds that have been tied up in inventories can be used elsewhere.
C) Production workers are always busy.
D) Areas previously used to store inventories are made available for other more
productive uses.
Answer: C
Explanation: A)
B)
C)
D)




3

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 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 ExamsExpert. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £24.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79223 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

Portage Learning BIO 171 Microbiology Module 6 Review.
£24.49
  • (0)
  Add to cart