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Management accounting

_6. Management accounting is:

A. a highly technical subject that people in personnel or engineering should not be expected to

B. performed by individuals who seldom work with people in other functional areas of the organization.

C. the principal activity involved in determining the goals and objectives of the entity.

D. an activity that gets involved with virtually all of the other functional areas of the organization.

7. Managerial accounting, as opposed to financial accounting, is primarily concerned with:

A. preparing the current balance sheet of the company.

B. present and future planning and control.

C. providing information to investors and creditors.

D. historical results of operations.

8. Managerial accounting can best be described as:

A. the preparation and distribution of the financial statements.

B. the preparation and distribution of the corporate tax return.

C. the preparation and use of accounting information within the organization.

D. meeting the requirements of generally accepted accounting principles.

_9. Simplifying assumptions made when using cost behavior pattern data include:

A. relevant range and liquidity.

B. fixed activity and linearity.

C. relevant range and linearity.

D. activity range and variability.

10. Which of the following is another term for mixed costs?

A. semifixed costs.

B. semivariable costs.

C. component costs.

D. none of these.

11. Cost behavior refers to:

A. costs that are both good and bad.

B. costs that increase at a quicker rate than others.

C. costs that decrease at a quicker rate than others.

D. costs that are variable or fixed.

E. none of these.

12. Knowledge about the behavior pattern of a cost is important to understanding the effect

on net income of a change in sales volume because as sales volume changes:

A. net income will change proportionately.

B. the effect on net income will depend on the behavior pattern of various costs.

C. fixed costs will rise proportionately.

D. variable costs will not change.

13. An example of a cost likely to have a fixed behavior pattern is:

A. sales force commission.

B. production labor wages.

C. advertising cost.

D. electricity cost for packaging equipment.


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