ch01_tb - Management Accounting 4/e Test Item File AKY 4E...

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Management Accounting 4/e Test Item File AKY 4E Test Bank Chapter 1 Page 1 Schoenebeck
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CHAPTER 1 MANAGEMENT ACCOUNTING: INFORMATION THAT CREATES VALUE TRUE/FALSE 1. Management accounting gathers short-term, long-term, financial, and nonfinancial information. a. True b. False 2. Management accounting information generally reports on the organization as a whole. a. True b. False 3. Companies have to follow strict guidelines when designing a management accounting system. a. True b. False 4. A good management accounting system is intended to meet specific decision-making needs at all levels in the organization. a. True b. False 5. During the history of management accounting, innovations were developed to address the decision-making needs of managers. a. True b. False 6. A key element in any organization’s strategy is to identify its target customers and to deliver what those target customers want. a. True b. False 7. The value proposition has only two elements: cost and quality. a. True b. False 8. Quality is the degree of conformance between what the customer is promised and what the customer receives. a. True b. False 9. Recently, the demand for improved management accounting and control information within manufacturing firms has also occurred in service organizations. a. True b. False 10. Recently, the competitive environment for both manufacturing and service companies has become far more challenging and demanding. AKY 4E Test Bank Chapter 1 Page 2 Schoenebeck
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True b. False 11. Service companies are very similar to manufacturing companies in may ways, including the fact that many employees have direct contact with customers. a. True b. False 12. Sensitivity to timeliness and quality of service is especially important to service organizations. a. True b. False 13. Government and nonprofit organizations, as well as profit-seeking enterprises, are feeling the pressures for improved performance. a. True b. False 14. Management accounting information allows managers to compare actual and planned costs and to identify areas and opportunities for process improvement. a. True b. False 15. Management accounting can provide information on customer satisfaction. a. True b. False 16. ROI (return on investment) combines two profitability measures to produce a single measure of departmental or divisional performance. a. True b. False 17. Around 1920, centralized control of decentralized operations was accomplished by having corporate managers receive financial reports about divisional operations and profitability. a. True b. False 18. In the late 1990s, little interest or attention was paid to evaluating management’s appropriate governance and strategy choices. a.
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This note was uploaded on 05/09/2010 for the course FNS AC07 taught by Professor Archie during the Three '10 term at Australian National University.

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ch01_tb - Management Accounting 4/e Test Item File AKY 4E...

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