{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

3_takehome_chapters 1 and 2_fall10

3_takehome_chapters 1 and 2_fall10 - Acc 200P Name Lab...

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

View Full Document Right Arrow Icon
Acc 200P Name: ___________________________ Lab Section #: _____________________ Lab Instructor’s Name: ______________ Date: ____________________________ TAKE-HOME QUIZ Chapters 1 and 2 Problem I: (9 pts) Managers are involved in three primary activities. Describe and given one example of each activity. Type of Activity: Description: Example: 1. Planning Activities 2. Operating Activities 3. Controlling Activities Problem II: Indicate whether each of the following statements is true (T) or false (F). (3 pts each) a. _____ Managerial accounting is less focused on the past than financial accounting. b. _____ Sunk costs are always relevant in decision making. c. _____ Managerial accounting reports should always follow GAAP. d. _____ The first step in the decision making process is to define the problem. e. _____ Financial accounting is less timely than managerial accounting. f. _____ Most decisions do not involve risk. g. _____ Relevant costs do not differ among alternatives. h. _____ Opportunity costs are not relevant to decision making. i. _____ Decision making should take into account ethical considerations.
Background image of page 1

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

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

{[ snackBarMessage ]}