Learning Objective One: Identify the steps in managements decision-making process
Managements Decision-Making Process
Managements decision-making process frequently involves the following steps:
1. Identify the problem a
We have 4 learning objectives:
Indicate the usefulness of the statement of cash flows:
The statement of cash flows reports:
Net change in cash resulting from:
financing activities during the period
We have 8 learning objectives:
Explain a current liability, and identify the major types of current liabilities:
A current liability is a debt with two key features.
It can reasonably be expected to be paid
We have 7 learning objectives:
Identify the major characteristics of a corporation:
Characteristics of a corporation:
The corporation has separate legal existence from its owners.
The stockholders have limited liability.
Ownership is held in shares of c
Chapter 21 Practice Questions
1. Incremental analysis is the process of identifying the financial data that:
Change under alternative courses of action
2. Relevant costs in accepting an order at a special price include all of the following except:
Chapter 6 Inventories
Describe the steps in determining inventory quantities; object 1
DETERMINING INVENTORY QUALITIES
Companies using a perpetual system take a physical inventory for two purposes:
o To check the accuracy of their perpetual inventory reco
Chapter 4 Completing the Accounting Cycle
Prepare a Worksheet, Object 1
A worksheet is a multiple-column form that may be used in the adjusted process and in
preparing financial statements.
It is a working tool for the accountant and not a per
Chapter 5 Accounting for Merchandising Operations
Identify the differences between service and merchandising companies; objective 1
A merchandising company is an enterprise that buys and sells goods to earn a profit.
Chapter 20 Practice Questions
1. Contribution margin ratio is contribution margin divided by sales.
2. Margin of safety measures how far sales can drop before a company will be operating at a loss.
3. Which one of the following describes the b
Learning Objective One: Distinguish between a standard and a budget
Standards and Budgets
In concept, standards and budgets are essentially the same
Both are predetermined costs and both contribute to management plannin
Learning Objective One: Describe the concert of budgetary control
The use of budgets in controlling operations is known as budgetary control.
Such control takes place by means of budget reports that c
We have 9 learning objectives:
Identify the different types of receivables:
The term receivables refers to amounts due from individuals and other
companies; they are claims expected to be collected in cash. Three major
classes of receivables
December 2nd, 2015
The Licensed Practice Nurse expectancy will grow higher in the
next couple years in my opinion with. According to bls.gov the
reason why the LPN growth is expected to occur is be
September 19, 2015
My score for the time survey was 98 hours I allowed myself to study. Surprisingly, my study hour
formula was 73 which was less than the time I allow myself to study. I did horrible i
September 5, 2015
The Study Skills I used were too low for the Standards on the survey. My
scores were 23 in Textbook Reading, 14 in Lecture Notes, 12 in Memory, 21 in
Study Attitudes and Orga
Learning Objective One: Recognize the difference between traditional costing and activity-based
Traditional Costing Systems
Often the most difficult part of computing accurate unit costs is determining the proper
Learning Objective One: Describe the essential features of a cost volume profit income
Basic CVP Income Statement
Learning Objective Two: Apply Basic CVP Concepts
Learning Objective One: Distinguish between variable and fixed costs
Cost Behavior Analysis
Cost behavior analysis is the study of how specific costs respond to changes in the level
of businesses activity.
Some costs ch
Learning Objective One: Explain the characteristics and purposes of cost accounting
Cost Accounting Systems
Cost Accounting involves the measuring, recording, and reporting of product costs.
Both the total cost and the
Learning Objective One: Understand who uses process cost systems
The Nature of Process Cost Systems
Process cost systems are used to apply costs to similar products that are mass produced
in a continuous fashion
In a pr
Learning Objective One: Explain the distinguishing features of managerial accounting
Managerial Accounting Basics
Managerial accounting (management accounting) is a field of accounting that provides
economic and financia
Chapter 15 Practice Questions
1. Which of the following statements is not true about managerial accounting?
It is highly aggregated.
2. Which of the following are considered to be managements three broad functions?
Planning, directing, and controlling
Chapter 18 Practice Questions
1. Activity-based costing is most appropriate to use when labor costs are a (n) _
proportion of total product costs and the manufacturing process is _.
2. How many steps are involved in activity based cos
Chapter 16 Practice Questions
1. A process cost system is used when a company manufactures a large volume of unique products.
2. Which one of the following transactions causes the Manufacturing Overhead account to be
debited in a job order cost acco
Chapter 17 Practice Questions
1. Which of the following companies would most likely use process costing for the product or
service it produces?
Friskies Cat Food cans of tuna flavored food
2. Which one of the following occurs in a process cost system?
ntidote for heparin overdose
a. protamine sulfate
b. vitamin K
c. vitamin E
d. cyanocobolamine a. protamine sulfate
Antiplatelet agents include all of the following except
a. acetylsalicylic acid
c. ticlopidine (Ticlid)
d. dipyridamole (P
A 14-year-old black female with Osteomyelitis due to infection
of the left arm long bone in a sports-related injury. The young
female is involved in sports, and focuses on her body image
21. The client scheduled for electroconvulsive therapy tells the nurse, "I'm so afraid. What will happen to
me during the treatment?" Which of the following statements is most therapeutic for the nurse to
A. "You will be given medicine to relax you