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Test Bank For Managerial Accounting 12thEdition By Garrison,Complete Study Guid e, Chapter1-17 $20.99
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Test Bank For Managerial Accounting 12thEdition By Garrison,Complete Study Guid e, Chapter1-17
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Test Bank For Managerial Accounting 12thEdition By Garrison,Complete Study Guid e, Chapter1-17

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  • December 6, 2024
  • 875
  • 2024/2025
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Test Bank For Managerial A
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ccounting 12thEditionByGa
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rrison, Complete Study Guid
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e, Chapter 1-17
f f

,Chapter 1 Managerial Accounting and the Business Environment
f f f f f f f




True/FalsefQuestions

1. Althoughffinancialfandfmanagerialfaccountingfdifferfinfmanyfways,ftheyfarefsimilarfinftha
tfbothfrelyfonfthefsamefunderlyingffinancialfdata.

Answer:fTruef Level:fMediumf LO:f1

2. Managerialfaccountingfisfafbranchfofffinancialfaccountingfandfservesfessentiallyfthefsa
mefpurposesfasffinancialfaccounting.

Answer:fFalsef Level:fMediumf LO:f1

3. Managerialfaccountingfplacesfgreaterfemphasisfonftheffuturefthanffinancialfac
counting,fwhichfisfprimarilyfconcernedfwithfthefpast.

Answer:fTruef Level:fEasyf LO:f1

4. Managerialfaccountingfisfnotfneededfinfafnon-profitforfgovernmentalforganization.

Answer:fFalsef Level:fEasyf LO:f1

5. Whenfcarryingfoutftheirfplanningfactivities,fmanagersfselectfafcoursefoffactionfandfspe
cifyfhowfthefactionfwillfbefimplemented.

Answer:fTruef Level:fEasyf LO:f2

6. Whenfcarryingfoutftheirfplanningfactivities,fmanagersfobtainffeedbackftofensurefthatfthef
planfisfactuallyfcarriedfoutfandfisfappropriatelyfmodifiedfasfcircumstancesfchange.

Answer:fFalsef Level:fMediumf LO:f2

7. Thefcontrollerfoccupiesfaflinefpositionfinfanforganization.

Answer:fFalsef Level:fEasyf LO:f2

8. Decentralizationfmeansfthefdelegationfoffdecision-
makingfauthorityfthroughoutfanforganizationfbyfallowingfmanagersfatfvariousfoperatin
gflevelsftofmakefkeyfdecisionsfrelatingftoftheirfownfareafoffresponsibility.

Answer:fTruef Level:fEasyf LO:f2




3

,Chapter 1 Managerial Accounting and the Business Environment
f f f f f f f




9. Affirm'sforganizationfchartfwillfnormallyfshowfbothfthefformalfandfinformalflinesfoffrep
ortingfandfcommunication.

Answer:fFalsef Level:fEasyf LO:f2

10. ThefChieffFinancialfOfficerfoffanforganizationfisfresponsiblefforfensuringfthatflinefop
erationsfrunfsmoothly.

Answer:fFalsef Level:fMediumf LO:f2

11. Traditionally,fcompaniesfhavefmaintainedflargefamountsfoffrawfmaterials,fworkfinfproce
ss,fandffinishedfgoodsfinventoriesftofactfasfbuffersfsofthatfoperationsfcanfproceedfsmoothly
fevenfifftherefarefunanticipatedfdisruptions.




Answer:fTruef Level:fMediumf LO:f3

12. ProcessfReengineeringfisfgenerallyfconsideredftofbefafmorefradicalfapproachftofim
provementfthanfTotalfQualityfManagement.

Answer:fTruef Level:fEasyf LO:f3

13. ProcessfReengineeringfemphasizesfafteamfapproachfinvolvingffront-
linefworkers,fwhereasfTotalfQualityfManagementfisfusuallyfimplementedfusingfoutside
fspecialistsfandfisfimposedffromfabove.




Answer:fFalsef Level:fMediumf LO:f3

14. Iffethicalfstandardsfwerefnotfgenerallyffollowed,fonefoffthefresultsfwouldfprobablyfbeffew
erfgoodsfandfservicesfavailablefinfthefmarketplace.

Answer:fTruef Level:fMediumf LO:f4

15. ThefStandardsfoffEthicalfConductfforfManagementfAccountantsfpromulgatedfbyfthefIns
titutefoffManagementfAccountantsfspecificallyfstatefthatfmanagementfaccountants'fsolefe
thicalfresponsibilityfisftofnotfbreakfanyflaws.

Answer:fFalsef Level:fEasyf LO:f4




4

, Chapter 1 Managerial Accounting and the Business Environment
f f f f f f f




MultiplefChoicefQuestions

16. Managementfaccountingffocusesfprimarilyfonfprovidingfdataffor:
A) internalfusesfbyfmanagers.
B) externalfusesfbyfstockholdersfandfcreditors.
C) externalfusesfbyfthefInternalfRevenuefService.
D) externalfusesfbyfthefSecuritiesfandfExchangefCommission.

Answer:fAf Level:fEasyf LO:f1

17. Managerialfaccounting:
A) isfmoreffutureforientedfthanffinancialfaccounting.
B) tendsftofsummarizefinformationfmorefthanffinancialfaccounting
C) isfprimarilyfconcernedfwithfprovidingfinformationftofexternalfusers.
D) isfmorefconcernedfwithfprecisionfthanftimeliness.

Answer:fAf Level:fEasyf LO:f1

18. Comparedftoffinancialfaccounting,fmanagerialfaccountingfplacesfmorefemphasisfon:
A) thefflexibilityfoffinformation.
B) thefprecisionfoffinformation.
C) theftimelinessfoffinformation.
D) bothfAfandfCfabove.

Answer:fDf Level:fEasyf LO:f1

19. Theffunctionfoffmanagementfthatfcomparesfplannedfresultsftofactualfresultsfisfknownfas:
A) planning.
B) directingfandfmotivating.
C) controlling.
D) decisionfmaking.

Answer:fCf Level:fEasyf LO:f2

20. Whichfofftheffunctionsfoffmanagementfinvolvesfoverseeingfday-to-dayfactivities?
A) Planning
B) Directingfandfmotivating
C) Controlling
D) Decisionfmaking

Answer:fBf Level:fEasyf LO:f2




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