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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 $16.79   Add to cart

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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

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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 Test Bank for Managerial Accounting: The Cornerstone of Business Decision Making, 8th Edition by (Mowen/Hans...

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  • November 8, 2024
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  • Managerial Accounting: The Cornerstone of Business
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TEST BANK
Managerial Accounting: The Cornerstone of Business Decision Making,

8th Edition, Mowen, Hansen, Heitger Chapters 1 - 15




Page 1
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,Table of Contents lk lk




WHY Is Managerial Accounting Important?
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1. Introduction to Managerial Accounting.
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2. Basic Managerial Accounting Concepts.
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WHAT Is Managerial Accounting?
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3. Cost Behavior, Cost Forecasting, and Segmented Income Statements.
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WHERE Does Managerial Accounting Come From?
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4. Job-Order Costing and Normal Cost (Overhead Application).
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5. Activity-Based Costing and Management
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6. Process Costing.
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HOW Is Managerial Accounting USED for Decision Making?
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7. Cost-Volume-Profit Analysis.
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8. Tactical Decision Making and Relevant Costing.
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9. Profit Planning and Flexible Budgets.
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10. Standard Costing and Variance Analysis.
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11. Performance Evaluation and Decentralization.
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12. Capital Investment Decisions.
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13. Emerging Topics in Managerial Accounting: Sustainability, Quality Cost, Lean Accounting, I
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nternational Issues, Enterprise Risk Management, The Managerial Accountant in Forensic/Frau
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d Accounting
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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
l k




Answers at the end of each chapterlk lk lk lk lk lk




Indicate whether the statement is true or false.
l k l k lk l k l k lk l k




lk lk 1. A cost accountant would normally occupy a staff position within an organization.
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a. True
b. False

lk


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

lk lk 3. Management accounting information is used only by manufacturing organizations.
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a. True
b. False

lk lk 4. Positions that have direct responsibility for the basic objectives of an organization are referred to as line positions.
lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk



a. True
b. False

lk lk 5. Virtually all managerial accounting practices were developed to assist managers in maximizing profits.
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a. True
b. False

lk lk 6. Managerial accounting is designed primarily for internal users.
lk lk lk lk lk lk lk lk



a. True
b. False

lk lk 7. Managerial accounting information is not important for not-for-profit organizations.
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a. True
b. False

lk lk 8. Time is not a crucial element in all phases of the value chain.
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a. True
b. False

lk lk 9. Activity-
lk



based costing is a less detailed approach to determining the cost of goods and services than traditionalcost accountin
lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk



g.
a. True
b. False
lk


10. Amelia compared the budgeted spending on labor and materials used in production to the actual spending on la
lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk



bor and materials used in production. Labor spending was higher than expected. Amelia emailed Robbie to discuss th
lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk lk



is outcome. This is a managerial accounting-oriented issue.
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a. True
b. False


Page 3 lk

, Name: Class: Date: lk




Chap 01_8e_Mowe
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n
lk lk 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

lk lk 12. Excellent customer service is an example of a value-added activity.
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a. True
b. False

lk lk 13. GAAP governs financial accounting.
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a. True
b. False

lk lk 14. Managerial accounting emphasizes the future.
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a. True
b. False
lk


15. The value chain is the set of activities required to design, develop, produce, market, and deliver products
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andservices to customers.
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a. True
b. False

lk lk 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

lk lk 17. The process of choosing among competing alternatives is called decision making.
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a. True
b. False
lk


18. The managerial activity of monitoring a plan's implementation and taking corrective action as needed is refer
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redto as decision making.
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a. True
b. False

Indicate the answer choice that best completes the statement or answers the question.
l k l k l k l k l k l k l k l k l k l k l k l k




lk lk 19. Which of the following would normally hold a line position?
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a. Staff accountant lk




b. Purchasing manager lk




c. General manager lk




d. Cost accountant lk




Page 4
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