Cnt 2 - Study guides, Class notes & Summaries

1. Comparing a static planning budget to actual costs is a good way to assess whether variable costs are under control. FALSE 2. Directly comparing a static planning budget to actual costs helps to distinguish between differences in costs that are due to changes in activity and differences that are due to how well costs were controlled. FALSE 3. Fixed costs should be ignored when evaluating how well a manager has controlled costs. FALSE 4. Fixed costs should be included in a flexible b...

Bio-Medicine NCCAOM Board Exam 100% Solved A patient says he's going to commit suicide, what should do? - answerHave Pt. Sign a "No Self-Harm" contract and refer to primary care phsician on a semi-urgent basis. Young man had very high energy, and didn't have to sleep much just a couple days ago, now feeling exhausted and sad. Diagnosis: - answerBipolar disorder 65 years male is living in nursing house after 6 months of post stroke, he doesn't like talk to anyone, social withdraw; doe...

hapter 07 -- Master Budgeting – Study Guide 1. The cash budget is usually prepared after the budgeted income statement. FALSE 2. The manufacturing overhead budget is typically prepared before the production budget. FALSE 3. Self-imposed budgets prepared by lower-level managers should be scrutinized by higher levels of management. TRUE 4. The basic idea underlying responsibility accounting is that each manager should be held responsible for the overall profit of the company to ensure t...

Bio-Medicine NCCAOM Board Exam 100% Solved A patient says he's going to commit suicide, what should do? - answerHave Pt. Sign a "No Self-Harm" contract and refer to primary care phsician on a semi-urgent basis. Young man had very high energy, and didn't have to sleep much just a couple days ago, now feeling exhausted and sad. Diagnosis: - answerBipolar disorder 65 years male is living in nursing house after 6 months of post stroke, he doesn't like talk to anyone, social withdraw; doe...

CNT EXAM PART 2 questions and answers A+ score assured 2024/2025

Chapter 06 -- Variable Costing and Segment Reporting: Tools for Management – Study Guide 1. Under variable costing, variable production costs are not treated as product costs. FALSE 2. Under variable costing, fixed manufacturing overhead cost is not treated as a product cost. TRUE 3. Under variable costing, product costs consist of direct materials, direct labor, and variable manufacturing overhead. TRUE 4. The costs assigned to units in inventory are typically lower under variable c...

1. Land held for possible plant expansion would not be included as an operating asset when computing return on investment (ROI). TRUE 2. When used in return on investment (ROI) calculations, operating assets do not include investments in land held for future use and investments in other companies. TRUE 3. A disadvantage of using ROI to evaluate performance is that it encourages the manager to reduce the investment in operating assets as well as increase net operating income. FALSE 4. Op...

1. Under variable costing, variable production costs are not treated as product costs. FALSE 2. Under variable costing, fixed manufacturing overhead cost is not treated as a product cost. TRUE 3. Under variable costing, product costs consist of direct materials, direct labor, and variable manufacturing overhead. TRUE 4. The costs assigned to units in inventory are typically lower under variable costing than under absorption costing. TRUE 5. Under variable costing, product cost does no...

To qualify for licensure, an applicant must present satisfactory proof to the Acupuncture Board that the applicant has met certain requirements. Which of the following is NOT a requirement to qualify for licensure: References: 205.203, Occ. Code; Board Rule 183.4(a) A) the applicant has an associate degree from an accredited community college or a four-year college or university; B) the applicant is a graduate of an acceptable approved acupuncture school or received and completed training wh...

1. When materials are purchased in a process costing system, a materials account is debited with the cost of the materials. TRUE 2. Costs are accumulated by department in a process costing system. TRUE 3. The following journal entry would be made in a processing costing system when units that have been completed with respect to the work done in Processing Department Z are transferred from Processing Department Z to Processing Department Y: Work in Process, Department Z XX X Work in ...