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Atkinson Management Accounting 6e

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this is about managerial accounting course
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   Management Accounting, 6e  (Atkinson et al.)Chapter 1 How Management Accounting Information Supports Decision Making Objective 11) Management accounting is subject to the rules formulated by standard setters such as the Financial Accounting Standards Board (FASB).Anser! FA S##$%lanation! Financial accounting is subject to the rules of the FASB.&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing+) Management accounting information is %rimarily oriented to e$ternal sta*eholders, such as investors, creditors, regulators, and ta$ authorities.Anser! FA S##$%lanation! Management accounting information is %rimarily oriented to management.&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing-) 'he nternational Accounting Standards Board sets the guidelines used for management accounting.Anser! FA S##$%lanation! Financial accounting must be consistent ith the rules of the ASB.&iff! 1'erms! nternational Accounting Standards BoardObjective! 1AASB! eflective thin*ing/) A good management accounting system can become a source of com%etitive advantage for a com%any.Anser! '0#&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing) Management accounting information is sometimes %redictive and forard loo*ing.Anser! '0#&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing 1  2) Management accounting has no %rescribed rules about its content, ho the content is to be develo%ed, and ho the content is to be %resented.Anser! '0#&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing3) 'he Federal Accounting Standards Advisory Board sets cost accounting standards for all federal government activities.Anser! '0#&iff! +'erms! 4overnment Accounting Standards BoardObjective! 1AASB! eflective thin*ing5) Management accounting measures can %rovide advance arnings of %roblems.Anser! '0#&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing6) nformation about customer satisfaction is an e$am%le of financial information.Anser! FA S##$%lanation! nformation about customer satisfaction is an e$am%le of nonfinancial information.&iff! 1'erms! nonfinancial informationObjective! 1AASB! eflective thin*ing17) Management accounting information can be used for all of the folloing #8#9'!A) calculate the cost of a %roduct or service.B) evaluate the %erformance of a com%any.) %roject materials needs.&) evaluate the mar*et %rice of the stoc*.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing +  11) :hich of the folloing ty%es of information are used in management accounting; A) financial informationB) nonfinancial information) information focused on the long term&) All of the above are correct.Anser! &&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing1+) Management accounting!A) is both retros%ective, %roviding feedbac* about %ast o%erations, and also %ros%ective, incor%orating forecasts and estimates about future events.B) is %rimarily oriented to e$ternal sta*eholders.) must be consistent ith rules formulated by the Financial Accounting Standards Board (FASB).&) %rovides information that is generally available only on a <uarterly or annual basis.Anser! A&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing1-) :hich of the folloing descri%tors refer to management accounting information;A) t is only retros%ective, re%orting and summari=ing in financial terms the results of %ast decisions and transactions.B) t is driven by rules.) t is %re%ared for shareholders.&) t is oriented to meeting the decision ma*ing needs of em%loyees and managers inside the organi=ation.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing1/) :hich of the folloing ould be considered management accounting information;A) Budgeted %roduction for the year +711.B) Budgeted Balance Sheet.) Analysis of trend in stoc* %rices.&) Both budgeted %roduction for the year of +711, and the budgeted balance sheet.Anser! &&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing -  1) Management accounting information includes all of the folloing #8#9'!A) tabulated results of customer satisfaction surveys.B) the cost of %roducing a %roduct.) the %ercentage of units %roduced that is defective.&) mar*et %rice of the stoc*.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing12) Management accounting re%orts might include information about!A) customer com%laints.B) net income for the year on budgeted income statement.) total assets on budgeted balance sheet.&) All of the above are correct.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing13) 'he %erson MOS' li*ely to use management accounting information is a(n)!A) ban*er evaluating a credit a%%lication.B) shareholder evaluating a stoc* investment.) governmental ta$ing authority.&) assembly de%artment su%ervisor.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing15) :hich of the folloing is >O' a function of a management accounting system;A) strategic develo%mentB) financial re%orting) control&) %roduct costingAnser! B&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing /
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