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Exam (elaborations)

BUS 215 Quiz 1 || Correctly Solved!!

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  • Course
  • BUS 215
  • Institution
  • BUS 215

Which of the following concepts are considered one of the three pillars of managerial accounting? correct answers decision making true or false: managerial accounting reports does not need to follow generally accepted accounting principals (GAAP)? correct answers True The process used by a co...

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  • August 3, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUS 215
  • BUS 215
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BUS 215 Quiz 1 || Correctly Solved!!
Which of the following concepts are considered one of the three pillars of managerial
accounting? correct answers decision making

true or false: managerial accounting reports does not need to follow generally accepted
accounting principals (GAAP)? correct answers True

The process used by a company to identify risks and develop responses to those risks that
enable a company to be reasonably assured of meetings its goals is known as: correct answers
enterprise risk management

The focal point of a company's strategy should be: correct answers its target customers

The customer value proposition that focuses on delivering products and services faster, more
conveniently, and at a lower price is known as: correct answers operational excellence

A company's corporate social responsibility is a concept whereby organizations consider the
needs of all stakeholders when making decisions. Which of the following are not considered
a stakeholder when considering a company's corporate social responsibility? correct answers
competitors

the costs of the Accounting Department at Nike Inc. would be considered by the Air Jordan
product line to be: correct answers indirect costs

Are wages of assembly-line workers a direct labor cost? correct answers yes

Are wages of a factory supervisor a direct labor cost? correct answers No

Which of the following would most likely be included as part of manufacturing overhead in
the production of a Dell PC desktop computer? correct answers

True or false: period costs start on the balance sheet and are expensed to the income
statement as sales occur correct answers false

when the level of activity decreases, fixed costs will correct answers remain constant in total

Lemon Aid operates a number of lemonade stands downtown SLO. The fixed expense of a
lemonade stand is $1,200 per
week. The variable cost per cup of lemonade served is $0.22. Each cup of lemonade sells for
a $1.00. Lemon Aid budgets
to sell 3,000 cups of lemonade per week. Last week, they sold only 2,800 cups of lemonade.
What was Lemon Aid's total
variable cost incurred last week. correct answers $616

Lemon Aid operates a number of lemonade stands downtown SLO. The fixed expense of a
lemonade stand is $1,200 per
week. The variable cost per cup of lemonade served is $0.22. Each cup of lemonade sells for
a $1.00. Lemon Aid budgets

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