3_takehome_chapters 1 and 2_fall10

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

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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.
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This note was uploaded on 12/13/2010 for the course ACC 200 taught by Professor Buckless during the Fall '08 term at N.C. State.

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

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