Examen

Exam
Name___________________________________


TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

1)

Management accounting has to strictly follow the rules of generally accepted accounting principles for the purposes of measurement and reporting.

1)

_______



2)

Strategy does NOT specify how an organization matches its capabilitieswith the opportunities in the marketplace.

2)

_______



MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

3)

Financial accounting:

3)

_______

A)

is prepared for the use of department heads and other employees

B)

must comply with GAAP (generally accepted accounting principles)

C)

focuseson the future and includes activities such as preparing next year's operating budget

D)

reports include detailed information on the various operating segments of the business such as product lines or departments



4)

The person MOST likely to use management accounting information is a(n):

4)

_______

A)

banker evaluating a credit application

B)assembly department supervisor

C)

shareholder evaluating a stock investment

D)

governmental taxing authority



5)

Place the four business functions in the order they appear along the value chain:
A = Customer service
B = Design
C = Distribution
D = Production

5)

_______

A)

A B D C

B)

B A D C

C)

B D C A

D)

A C D B6)

R&D, production, and customer service are business functions that are all included as part of:

6)

_______

A)

marketing

B)

the value chain

C)

benchmarking

D)

the supply chain



7)

________ is the generation of, and experimentation with, ideas related to new products, services, or processes.

7)

_______

A)

ProductionB)

Marketing

C)

Research and development

D)

Design of products, services, or processes



8)

________ is the manner by which companies promote and sell their products or services to customers or perspective customers.

8)

_______

A)

Customer service

B)

Research and development

C)

Distribution

D)

Marketing



9)To be successful, a company needs to be:

9)

_______

A)

management driven

B)

employee driven

C)

customer driven

D)

"driven" by the board of directors







10)

Place the five steps in the decision-making process in the correct order:
A = Obtain information
B = Make decisions by choosing among alternatives
C = Identify the problemand uncertainties
D = Implement the decision
E = Make predictions about the future

10)

______

A)

A E B D C

B)

C A E B D

C)

D B E A C

D)

E D A B C



11)

The most important planning tool is a ________.

11)

______

A)

balanced scorecard

B)

goal

C)

performance evaluation report

D)

budgetTRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

12)

When 50,000 units are produced the fixed cost is $10 per unit. Therefore, when 100,000 units are produced fixed costs will remain at $10 per unit.

12)

______



13)

Manufacturing sector firms normally hold three types of inventory: direct materials inventory, work-in-process inventory, andfinished goods inventory.

13)

______



14)

Work-in-process inventory are goods partially worked on but not yet completed.

14)

______



15)

Inventoriable costs are reported as an asset when incurred and expensed on the income statement when the product is sold.

15)

______



16)

Conversion costs include all direct manufacturing costs.

16)...