Solution to Managerial Accounting 8th canadian edition

Solution to Managerial Accounting 8th canadian edition -...

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Chapter 1 1. Decision making is part of planning, not either directing and motivating or controlling. Ans: False Difficulty: Medium 2. The controller occupies a staff position in an organization. Ans: True Difficulty: Medium 3. Persons occupying staff positions provide support and assistance to other parts of the organization. Ans: True Difficulty: Easy 4. Informal relationships and channels of communication often develop that do not appear on the organization chart. Ans: True Difficulty: Easy 5. Managerial accounting places less emphasis on precision and more emphasis on timeliness of data than financial accounting does. Ans: True Difficulty: Medium 6. Managerial accounting is not governed by generally accepted accounting principles (GAAP). Ans: True Difficulty: Easy 7. In general, accounting data serve both financial accounting and managerial accounting purposes. Ans: True Difficulty: Easy 8. Top management make most of the decisions in decentralized organizations. Ans: False Difficulty: Easy 9. Codes of professional ethics regarding competence, confidentiality, integrity, and objectivity are more important for CAs and CGAs than CMAs. Ans: False Difficulty: Easy 10. Business codes of ethics prescribe minimum acceptable behaviours for all employees except employees belonging to one of the three major professional accounting groups in Canada. Ans: False Difficulty: Medium 11. Monetary data are given equal weight by both managerial accounting and financial accounting. Ans: False Difficulty: Easy Page 1
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Chapter 1, Managerial Accounting and. .. 12. A strategy is a game plan that enables a company to attract customers by distinguishing itself from competitors. Ans: True Difficulty: Easy 13. A strategy requires effective use of Six Sigma improvement techniques. Ans: False Difficulty: Medium 14. A customer value proposition is essentially a reason for customers to choose a company's products over its competitors' products. Ans: True Difficulty: Easy 15. Customer value propositions tend to fall into three broad categories--customer intimacy, operational excellence, and product leadership. Ans: True Difficulty: Easy 16. Companies that adopt a customer intimacy strategy are in essence saying to their target customers, “The reason you should choose us is because we understand and respond to your individual needs better than our competitors.” Ans: True Difficulty: Easy 17. Companies that choose an operational excellence strategy are in essence saying to their customers, “Choose us rather than our competitors because we strive for zero defects.” Ans: False Difficulty: Medium 18. Corporate governance is the legal framework that allows managers to control and direct lower-level workers on the job. Ans: False
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This note was uploaded on 10/19/2010 for the course ACCOUNTING 341 taught by Professor Ken during the Spring '10 term at University of Guelph - Humber.

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Solution to Managerial Accounting 8th canadian edition -...

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