5 Fianance and Managerial Accounting questions for my review sheet so i can study for my test! i rate well

Question 2

The Page Turner Publishing Company is trying to decide whether or not to accept a special order for its latest blockbuster. In making this decision, which level of costs will most likely be relevant to the decision?

A. Batch-level costs

B. Facility-level costs

C. Unit-level costs

D. None of these.

Question 3

Cost accumulation is used to:

A. Determine the cost of a particular cost object.

B. Identify and estimate opportunity costs.

C. Identify fixed and variable costs.

D. Set the selling price for a service.

Question 5

Jason had been operating his machine for an entire month before he realized that it was generating more scrap than usual. Which advantage of budgeting would have helped him identify this problem sooner?

A. Performance measurement

B. Coordination

C. Planning

D. Corrective action

Question 8

Which of the following accounts would appear on the inventory purchases budget and pro forma balance sheet?

A. Cost of goods sold

B. Sales revenue

C. Accounts receivable

D. Accounts payable

Question 10

Which of the following statements is true?

		A. Indirect costs can easily be traced to a cost object; direct costs cannot be easily traced to a cost object.
		B. Both direct and indirect costs can easily be traced to a cost object.
		C. Neither direct nor indirect costs are easily traced to a cost object.
		D. Direct costs can be traced easily to a cost object, but indirect costs cannot be easily traced to a cost object.