mcqs only 10

Who will MOST likely use management accounting information? w Select one: a. Governmental tax authorities b. A stockholder, for evaluation of an equity Investment An assembly department supervisor d. A banker for evaluation of a credit application A cost driver: Select one: a. is anything for which separate cost data are desired b. is an indirect cost that possesses the qualities of a cost object 0 0 0 c. is any activity that incurs cost d. is a cost object Which of the following statements is accurate? Select one: a. Both management accounting and financial accounting are intended primarily for internal users o b. Management accounting is primarily geared towards internal users while financial accounting is primarily geared towards external users o c. Management accounting is primarily geared towards external users while financial accounting is primarily geared towards internal users O d. Both management accounting and financial accounting are intended primarily for external users Formal financial accounting statements: Select one: o a. focus on the future and include activities such as preparing next year's operating budget b. from public companies must comply with GAAP o c. are prepared only for upper management o d. include detailed information on the various product lines and include reports on CVP analysis The comparson of actual and budgeted figures is usually performed: Select one: a. Quarterly b. Every three to seven years. O c. Annually 0 d. Monthly Management accounting information can include: Select one: O a. the cost of producing a product b. defect rates e c. tabulated results of customer satisfaction surveys d. all of the available choices Which of the following steps is not part of the controlling stage of the decision-making process for managers? + Select one: a. Reviewing and monitoring results O b. Applying corrective action c. Setting long-term goals d. Implementing strategies A cost object: Select one: O a. is anything for which separate cost data is desired b. is a combination of direct and indirect costs O c. is sales revenue less cost of goods sold d. is any activity that incurs cost Which of the following statements best describes management accounting information? Select one: a. It is prepared for stockholders. ob. It is always compliant with GAAP. oc. It provides reasonable and timely estimates O d. It is audited to ensure it is reliable. Which of the following statements is true? Select one: a. Perod costs are not related to production activities b. Product costs include costs in distributing the product c. Product costs include the interest earned on short-term investments d. Period costs always include some costs in the manufacturing phase