4 Finance and Managerial Accounting Questions for my review sheet! I rate well. Thanks!

Question 11

Which of the following statements is true? ?

A. Fixed costs are sometimes relevant for decision making.

B. Opportunity costs are never relevant to decision making.

C. Information must be exactly accurate to be relevant to decision making.

D. A cost that is relevant in one decision context is relevant in other decision contexts.

Question 16

The master budget details: ?

		A. Long-term objectives.
		B. Intermediate objectives.
		C. Short-term objectives.
		D. All of these answers are correct.

Question 20

Which of the following statements is incorrect? ?

A. An outsourcing decision typically affects only product-level costs.

B. Accepting a special order will involve incurring unit-level costs.

C. Eliminating a business segment often allows a company to avoid some facility-level costs.

D. Facility-level costs generally are not relevant in special order decisions.

Question 21

Qualitative information is relevant when: ?

		A. it makes a difference in the decision and it differs between the alternatives.
		B. it differs between the alternatives only.
		C. it makes a difference in the decision only.
		D. None of these.