22221takehome_chapters 1 and 2_fall10_soln.docppp

22221takehome_chapters 1 and 2_fall10_soln.docppp - Acc...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Acc 200P Name: ______ KEY ____________________________ Chapters 1 and 2 Take-home Quiz Problem II: Indicate whether each of the following statements is true (T) or false (F). (3 pts each) a. __ T ___ Managerial accounting is less focused on the past than financial accounting. b. __ F ___ Sunk costs are always relevant in decision making. c. __ F ___ Managerial accounting reports should always follow GAAP. d. __ T ___ The first step in the decision making process is to define the problem. e. __ T ___ Financial accounting is less timely than managerial accounting. f. __ F ___ Most decisions do not involve risk. g. __ F ___ Relevant costs do not differ among alternatives. h. __ F ___ Opportunity costs are not relevant to decision making. i. __ T ___ Decision making should take into account ethical considerations. j. __ T ___ One of the steps in stakeholder analysis requires the company to understand the nature of each stakeholder’s interests. Problem III
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/22/2010 for the course ACC 200 taught by Professor Buckless during the Spring '08 term at N.C. State.

Page1 / 3

22221takehome_chapters 1 and 2_fall10_soln.docppp - Acc...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online