Quiz 1 will be given in your discussion section on January 28/29. The quiz includes true/false and short-answer questions, and numerical problems. The quiz is based on material from lecture, discussion, and the textbook – anything you’ve learned since the beginning of the semester is fair game, although the topics below are the focus of the quiz. The end-of-chapter material in the textbook is an excellent study resource. Don’t forget to bring the four-function calculator that was included with your course packet! Quiz 1 topics Chapter 1: Accounting: Information for Decision Making • Describe the four-step framework for decision making • Compare individual and organizational decision making • Relate planning and control decisions to the four stages of the PIER cycle • Differentiate between managerial accounting and financial accounting • Explain how firms can encourage the alignment of individual and organizational goals • Discuss how ethics relates to the decision framework
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unit product cost, Indirect costs, decisions Additional vocabulary