1)

Organizations should choose performance metrics that improve the alignment of managerial incentives with _____.

A) managerial effort

B) organizational objectives

C) ethical behavior

D) agency theory

2)

Audits of the financial statements of publicly held companies are conducted in accordance with standards approved by the ______.

A) Financial Accounting Standards Board

B) Securities and Exchange Commission

C) Institute of Certified Public Accountants

D) Public Company Accounting Oversight Board

3)

Treasury stock is shown on the balance sheets as a deduction from _____.

A) total assets

B) total liabilities

C) total current assets

D) total stockholders' equity

4)

To apply the budgeted overhead costs to a job, the budgeted overhead rate is multiplied by the ______.

A) actual production in units

B) expected production in units

C) actual amount of cost driver used by the job

D) expected amount of cost driver used by the job

5)

The excess of applied overhead costs over the actual overhead costs is called ______.

A) overapplied overhead

B) underapplied overhead

C) underbudgeted overhead

D) overestimated overhead