200710vragenenantwtoets1 - Multiple Choice Test 1...

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Unformatted text preview: Multiple Choice Test 1 Management Accounting (BAB01) 2007-08 4 October 2007 Total questions: 20 Total points: 100 (5 points per question) Number of pools: 1. Chapter 1 (2 questions out of 5) 2. Chapter 2 (2 questions out of 5) 3. Chapter 2 (1 question out of 4) 4. Chapter 3 (5 questions out of 8) 5. Chapter 4 process costing and hybrid costing (3 questions out of 5) 6. Chapter 4 process costing calculation (1 question out of 4; solutions in separate Excel file) 7. Chapter 5 (3 questions out of 6) 8. Chapter 6 (2 questions out of 5) 9. Chapter 17 (1 question out of 4) MC test 1 - Management Accounting 2007-08 1 Pool 1 1. Which of the following is not an objective of managerial accounting? A. Providing information for decision making and planning. B. Assisting in directing and controlling operations. C. Maximizing profits and minimizing costs. D. Measuring the performance of managers and subunits. E. Motivating managers toward the organization's goals. Answer: C 2. Managerial accounting: A. focuses only on historical data. B. is governed by GAAP. C. focuses primarily on the needs of personnel within the organization. D. provides information for parties external to the organization. E. focuses on financial statements and other financial reports. Answer: C 3. Which of the following would likely be considered an internal user of accounting information rather than an external user? A. Stockholders. B. Consumer groups. C. Lenders. D. Middle-level managers. E. Government agencies. Answer: D 4. Which of the following statements represents a similarity between financial and managerial accounting? A. Both are useful in providing information for external users. B. Both are governed by GAAP. C. Both draw upon data from an organization's accounting system. D. Both rely heavily on published financial statements. E. Both are solely concerned with historical transactions. Answer: C 5. Cost management systems tend to focus on an organization's: A. machines. B. employees. C. activities. D. customers. E. rules and regulations. Answer: C MC test 1 - Management Accounting 2007-08 2 Pool 2 1. Which of the following statements is true? A. The word "cost" has the same meaning in all situations in which it is used. B. Cost data, once classified and recorded for a specific application, are appropriate for use in any application. C. Different cost concepts and classifications are used for different purposes. D. All organizations incur the same types of costs. E. Costs incurred in one year are always meaningful in the following year. Answer: C 2. Which of the following is most likely a period cost? A. Direct material. B. Advertising expense. C. Depreciation on cars driven by a firm's president and treasurer....
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This note was uploaded on 02/12/2012 for the course ACCOUNTING 2031 taught by Professor Brown during the Spring '11 term at Boston Architectural.

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200710vragenenantwtoets1 - Multiple Choice Test 1...

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