Bus 215 - Study guides, Class notes & Summaries

Product Liability correct answers Where a defective product is placed in a stream of commerce, the user, consumer, or bystander may bring forth a valid cause of action for product liability against the manufacturer, seller or retailer Three Types of Product Liability correct answers Defective Product Who Can Sue (Plaintiffs) Who May Be Sued Three Types of Defective Products correct answers Design Manufacturing - Something goes wrong in the assembly line Warning / Label Who Can Sue...

variable costing income statements correct answers includes product and period costs categorizes expenses based on cost behavior (reported separately from fixed expenses) focuses and separates variable and fixed expenses calculates CM manufacturing companies: rely on contribution format for internal decision-making purposes to enable CVP analysis and facilitate explaining changes in net income Absorption Costing Income Statement correct answers generally used for external report...

When formatting a cell as an absolute reference or address, you correct answers Highlight the reference in the formula and Press F4 Why would you use an absolute cell reference in a formula? correct answers Using an absolute reference allows you to fill a formula down while still pointing to the absolute reference What is an easy way to transpose a long list of numbers? correct answers Copy & Paste Special You can... correct answers All of the above: - change the row height - hide a r...

Cost behavior refers to: Select one: A. Whether a particular expense has been ethically incurred. B. Whether a cost is incurred in a manufacturing, merchandising, or service company. C. How costs react to a change in the level of activity. Correct D. Classifying costs as either inventoriable or period costs. correct answers D. Which of the following is an example of a cost that is variable with respect to the number of units produced? Select one: A. Salaries of top marketing executiv...

Earlier warning of potential problems correct answers What is a benefit of good communication Communicating correct answers You work as the Vice President of Engineering in a larger construction firm. What do you spend most of your time doing? Stakeholders correct answers term used to describe all of the groups that are affected in some way by a company's actions sharing correct answers essence of communication is audience-centered approach correct answers projecting yourself into a...

Which of the following exemplifies a benefit of good communication? correct answers Earlier warning of potential problems You work as the Vice President of Engineering in a large construction firm. Which of the following are you likely to spend most of your time doing? correct answers Communicating _______________ is the term used to describe all of the groups that are affected in some way by a company's actions. correct answers Stakeholders The essence of communication is ____________...

How is managerial accounting information used? correct answers Planning, controlling, and decision making Why study managerial accounting correct answers Managerial accounting skills can be used for any career, organization, and industry CSR - Corporate Social Responsibility correct answers a concept whereby organizations consider the needs of all stakeholders when making decisions Direct Cost (under absorption costing) correct answers cost that can be easily and conveniently traced to ...

Work of Management correct answers planning, controlling, decision making Types of Cost classifications correct answers Financial reporting, predicting cost behavior, assigning costs to cost objects, making business decisions Direct Costs correct answers Costs that can be easily and conveniently traced to a unit of product or other cost object EX. Direct Costs correct answers Direct material, direct labor radio on a car, wages to assembly Indirect costs correct answers costs that ...

To widen a column to fit the cell content of the widest cell in the column, the user should utilize: correct answers AutoFit A text value is also known as a correct answers Label If a column of data holds the letter grades for a class, the ________ function could be used to determine how many students had a grade of "A". correct answers COUNTIF IF is an example of a ________ function correct answers Logical Which type of charter would be best to chart the number of votes each candi...

managerial accounting correct answers concerned with with providing information to managers for use within the organization segment correct answers a part or activity of an organization about which managers would like cost, revenue, or profit data Managerial accounting helps managers perform three vital activities correct answers planning (establishing goals and specifying how to achieve them), controlling (gathering feedback to ensure that the plan is being properly executed), decision ma...