ACC 628 Exam 2 Fall 2017 with Solutions.pdf - ACC 628 CPH 655 page 1 ACC\/CPH 655 Anderson NAME Management Accounting for Health Care Organizations

ACC 628 Exam 2 Fall 2017 with Solutions.pdf - ACC 628 CPH...

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ACC 628 CPH 655 page - 1 ACC/CPH 655 - Anderson NAME________________________________ Management Accounting for Health Care Organizations Sample Exam 2– Fall 2017 I. Place the letter of the response that you consider the best answer in the space indicated at the end of each question. These questions will be graded based only on the letter response. You will not receive any partial credit on this section of the test. 1. Expenses or revenues which will be changed as a result of the decision at hand are: a. relevant costs. b. variable costs. c. common costs. d. sunk costs. Answer____________ 2. Flexible budgets adjust for: a. changes in prices. b. the level of activity. c. management’s revisions of cost estimates. d. changes in fixed costs from discretionary spending. Answer____________ 3. The first budget to be prepared which identifies the amount of services that will be provided is: Answer____________ 4. Types of responsibility centers include all but one of the following: a. cost centers b. service centers c. talent centers d. profit centers Answer____________
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ACC 628 CPH 655 page - 2 5. Budget variances are: Answer____________ 6. Which of the following are disadvantages of the participatory approach to budgeting? I. Participation can increase competition between units which may result in dysfunctional behavior. II. Participation is time consuming and uses staff time that could be devoted to other purposes. III. Participation generally produces less accurate budgets as many operating managers do not understand cost behavior. IV. Participation may result in disappointment. Answer____________ 7. A dental practice consists of four full time dentists who are equal partners. The office space they rent is large as they anticipate growing the practice. They currently have three full time dental hygienists, but are considering adding more hygienists who can perform more of the routine tasks such as cleaning teeth and taking x-rays. In considering the decision of how many hygienists to employ, they should view the costs of the hygienists as: a.A fixed cost. b. A variable cost. c. A semi-variable cost. d. A step cost. Answer____________
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