Alaa Aliasrei سيف @Aliasrei ماركلتنحش نسحه ءلاع
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Cost Accounting: A Managerial Emphasis, 16e (Horngren)
Chapter 1 The Manager and Management Accounting
1.1 Objective 1.1
1) Management accounting ________.
A) focuses on estimating future revenues, costs, and other measures to forecast activities and their results
B) provides information about the company as a whole
C) reports information that has occurred in the past that is verifiable and reliable
D) provides information that is generally available only on a quarterly or annual basis
Answer: A
Explanation: Management accounting has a forward-looking orientation as opposed to financial
accounting which has a historical perspective.
Diff: 1
Objective: 1
AACSB: Analytical thinking
2) Managers use management accounting information to ________.
A) help external users such as investors, banks, regulators, and suppliers
B) communicate, develop, and implement strategies
C) communicate a firm's financial position to investors, banks, regulators, and other outside parties
D) ensure that financial statements are consistent with the SEC rules
Answer: B
Diff: 1
Objective: 1
AACSB: Analytical thinking
3) Financial accounting ________.
A) focuses on the future and includes activities such as preparing next year's operating budget
B) must comply with GAAP (generally accepted accounting principles)
C) is the process of measuring, analyzing, and reporting financial and nonfinancial information related to
the costs of acquiring or using resources in an organization
D) is prepared for the use of department heads and other employees
Answer: B
Diff: 1
Objective: 1
AACSB: Analytical thinking
4) Which of the following would most likely be the user of financial accounting information?
A) factory shift supervisor
B) distribution manager
C) current shareholder
D) department manager
Answer: C
Diff: 1
Objective: 1
AACSB: Analytical thinking
3) Financial accounting provides a historical perspective, whereas managementaccounting emphasizes:A) the future4) A data warehouse or infobarn:C) stores information used by different managers formultiple purposes5) Which of the following is true of planning in decision making?A) It helps anorganization to select goals and strategies.
6) Strategy is formulated ________.A) by identifying the most important customers
7) Management accounting ________.
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9) Which of the following groups would be LEAST likely to receive detailedmanagement accounting reports?A) stockholders10) Which of the following deals with management accounting?B) developing budgets11) TheD) controlleris primarily responsible for management accounting and financialaccounting.
12) Which of the following statements refers to management accounting information?
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13) Which item is an indication of competence under the Standards of EthicalConduct?
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14) Prime costs include ________.A) direct materials and direct manufacturing laborcosts15) Which of the following statements is true?B) Inventoriable costs are assigned toinventories under GAAP.
16) Manufacturing overhead costs in an automobile manufacturing plant most likelyinclude:
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