TEST BANK for Horngren’s Cost Accounting: A Managerial Emphasis, 16th Edition Updated A+
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TEST BANK for Horngren’s Cost Accounting: A Managerial Emphasis, 16th Edition Updated A+ HERE IS A LIST OF THE CHAPTERS Cost Accounting A Managerial Emphasis, 16e, Global Edition (Horngren Complete Chapter 1 The Ma nager and Management Accounting 1.1 Management Page : 47 Chapter 2 An Introduction...
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TEST BANK for Horngren’s Cost Accounting: A Managerial Emphasis, 17th Edition
TEST BANK for Horngren’s Cost Accounting: A Managerial
Emphasis, 17th Edition
Test Bank Page 1
, TEST BANK for Horngren’s Cost Accounting: A Managerial Emphasis, 17th Edition
Horngren's Cost Accounting: A Managerial Emphasis, 17e, Global Edition by Datar/Rajan
Chapter 1 The Manager and Management Accounting
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: A) 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
Test Bank Page 2
, TEST BANK for Horngren’s Cost Accounting: A Managerial Emphasis, 17th Edition
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
5) The primary user of management accounting information is a(n):
A) the controller
B) a shareholder evaluating a stock investment
C) bondholder
D) external regulator
Answer: A
Diff: 1
Objective: 1
AACSB: Analytical thinking
6) Financial accounting provides the primary source of information for:
A) decision making in the assembly and finishing department
B) improving distribution and customer service
C) preparing the income statement for shareholders and other external parties
D) planning next year's plans and specifically; the operating budget
Answer: C
Diff: 1
Objective: 1
AACSB: Analytical thinking
7) Which of the following is true of management accounting information?
A) It focuses on documenting past business actions of a firm.
B) It is prepared based on SEC rules and FASB accounting principles.
C) It is prepared for shareholders.
D) It helps with the coordination of elements of the value chain.
Answer: D
Diff: 2
Objective: 1
AACSB: Analytical thinking
8) Which of the following statements refers to management accounting information?
Test Bank Page 3
, TEST BANK for Horngren’s Cost Accounting: A Managerial Emphasis, 17th Edition
A) There are no regulations governing the reports.
B) The reports are generally delayed and historical.
C) The audience tends to be stockholders, creditors, and tax authorities.
D) It primarily measures manager's compensation on reported financial results.
Answer: A
Diff: 2
Objective: 1
AACSB: Analytical thinking
9) Which of the following groups would be least likely to receive detailed management
accounting reports?
A) stockholders
B) sales managers
C) production supervisors
D) distribution managers
Answer: A
Diff: 1
Objective: 1
AACSB: Analytical thinking
10) Management accounting information typically includes:
A) tabulated results of customer satisfaction surveys
B) the cost of producing a product
C) the percentage of units produced that are defective
D) All of these answers are correct.
Answer: D
Diff: 1
Objective: 1
AACSB: Application of knowledge
11) Cost accounting:
A) measures the costs of acquiring or using resources in an organization
B) measures the financial and nonfinancial information that helps managers make decisions
to fulfill the goals of an organization
C) coordinates product design, production, and marketing decisions and evaluate a
company's performance
D) communicates information to investors, banks, regulators, and other outside parties
Answer: A
Diff: 1
Objective: 1
AACSB: Analytical thinking
Test Bank Page 4
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