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    "question_id": "4239981",
    "url": "\/study-help\/questions\/qusetion-1-management-accounting-terminology-match-the-following-terms-4239981",
    "question_creation_date_js": "2024-06-28T04:38:41-04:00",
    "question_creation_date": "Jun 28, 2024 04:38 AM",
    "meta_title": "[Solved] Qusetion 1 : Management Accounting Termin | SolutionInn",
    "meta_description": "Answer of - Qusetion 1 : Management Accounting Terminology Match the following terms with the best descriptions. Each description | SolutionInn",
    "meta_keywords": "qusetion,1,management,accounting,terminology,match,following,terms,descriptions,description,ethics,2,mission,3,controlling,4,goal,5,cost,driver,6,quality,7,balance,statement,8,income,9,strategic,10,financial,11,activity,12,structural,13,managerial,14,resources,15,product,differentiation,making,decisions,concerning,specific,drivers,factors,influence,costs,c,reports,company,s,position,external,users,increase,year,2017,sales,percent,2016,shows,results,operations,period,time,packing,order,shipment,h,deciding,limit,market,focus,region,entire,nation,degree,new,-book,reader,meets,buyer,expectations,internally,make,k,consumed,activities,l,propriety,taking,action,m,reduces,customer,price,sensitivity,n,basic,purpose,directed,comparing,budget,actual,question,indicate,phrase,descriptive,amay,subjective,boften,state,corporate,goals,ctypically,prepared,quarterly,annually,dmay,measure,satisfaction,efuture,oriented,fhas,greater,emphasis,cost-benefit,analysis,gkeeps,records,assets,liabilities,hhighly,aggregated,statements,imust,conform,standards,jspecial-purpose,kdecision-making,tool,lincome,sheet,cash,flows,select,pay,vendors,receive,material,deliveries,inspect,raw,materials,plan,purchases,packaging,supervision,employee,training,operating,machines,machine,maintenance,opening,accounts,bank,number,items,classes,offered,cnumber,hours,employees,units,received,customers,hnumber,checks,issued,orders",
    "question_title_h1": "Qusetion 1 : Management Accounting Terminology Match the following terms with the best descriptions. Each description is used only once. Terms 1.Ethics 2.Mission 3.Controlling 4.Goal",
    "question_title": "Qusetion 1 : Management Accounting Terminology Match the following terms with the",
    "question_title_for_js_snippet": "Qusetion 1   Management Accounting Terminology Match the following terms with the best descriptions  Each description is used only once  Terms 1 Ethics 2 Mission 3 Controlling 4 Goal 5 Cost driver 6 Quality 7 Balance statement 8 Income statement 9 Strategic cost management 10 Financial accounting 11 Activity cost driver 12 Structural cost driver 13 Managerial accounting 14 Resources 15 Product differentiation Description a  Making decisions concerning specific cost drivers b  Factors that influence costs c  Reports a company's financial position d  Accounting for external users e  Increase year 2017 sales by 10 percent over year 2016 sales f  Shows the results of operations for a period time g  Packing an order for shipment h  Deciding to limit market focus to a region rather than the entire nation i  The degree to which a new e book reader meets a buyer's expectations j  Used internally to make decisions k  Consumed by activities l  The propriety of taking some action m  Reduces customer price sensitivity n  Basic purpose toward which activities are directed 0  Comparing the budget with the actual results Question 2  Financial and Managerial Accounting Indicate whether each phrase is more descriptive of financial accounting or managerial accounting  aMay be subjective bOften used to state corporate goals cTypically prepared quarterly or annually dMay measure time or customer satisfaction eFuture oriented fHas a greater emphasis on cost benefit analysis gKeeps records of assets and liabilities hHighly aggregated statements iMust conform to external standards jSpecial purpose reports kDecision making tool lIncome statement, balance sheet, and statement of cash flows Question 3  Activities and Cost Drivers For each of the following activities, select the most appropriate cost driver  Each cost driver may be used only once  Activity 1 Pay vendors 2 Receive material deliveries 3 Inspect raw materials 4 Plan for purchases of raw materials 5 Packaging 6 Supervision 7 Employee training 8 Operating machines 9 Machine maintenance 10 Opening accounts at a bank Cost Driver a Number of different raw material items b Number of classes offered c Number of machine hours d Number of employees e Number of maintenance hours f Number of units of raw materials received g Number of new customers h Number of deliveries i Number of checks issued j Number of customer orders",
    "question_description": "<p><strong>Qusetion 1 : <\/strong><strong>Management Accounting Terminology<\/strong><\/p> <p><span>Match the following terms with the best descriptions. Each description is used only once.<\/span><\/p> <p> <\/p> <p><strong>Terms<\/strong><\/p> <p><span>1.Ethics <\/span><\/p> <p><span>2.Mission<\/span><\/p> <p><span>3.Controlling<\/span><\/p> <p><span>4.Goal<\/span><\/p> <p><span>5.Cost driver<\/span><\/p> <p><span>6.Quality<\/span><\/p> <p><span>7.Balance statement<\/span><\/p> <p><span>8.Income statement<\/span><\/p> <p><span>9.Strategic cost management<\/span><\/p> <p><span>10.Financial accounting<\/span><\/p> <p><span>11.Activity cost driver<\/span><\/p> <p><span>12.Structural cost driver<\/span><\/p> <p><span>13.Managerial accounting<\/span><\/p> <p><span>14.Resources<\/span><\/p> <p><span>15.Product differentiation<\/span><\/p> <p> <\/p> <p> <\/p> <p><strong>Description<\/strong><\/p> <p><span>a. Making decisions concerning specific cost drivers<\/span><\/p> <p><span>b. Factors that influence costs<\/span><\/p> <p><span>c. Reports a company's financial position<\/span><\/p> <p><span>d. Accounting for external users<\/span><\/p> <p><span>e. Increase year 2017 sales by 10 percent over year 2016 sales<\/span><\/p> <p><span>f. Shows the results of operations for a period time<\/span><\/p> <p><span>g. Packing an order for shipment<\/span><\/p> <p><span>h. Deciding to limit market focus to a region rather than the entire nation <\/span><\/p> <p><span>i. The degree to which a new e-book reader meets a buyer's expectations<\/span><\/p> <p><span>j. Used internally to make decisions<\/span><\/p> <p><span>k. Consumed by activities<\/span><\/p> <p><span>l. The propriety of taking some action <\/span><\/p> <p><span>m. Reduces customer price sensitivity<\/span><\/p> <p><span>n. Basic purpose toward which activities are directed<\/span><\/p> <p><span>0. Comparing the budget with the actual results<\/span><\/p> <p> <\/p> <p> <\/p> <p><strong>Question 2:<\/strong><strong> <\/strong> <strong>Financial and Managerial Accounting<\/strong><\/p> <p>Indicate whether each phrase is more descriptive of financial accounting or managerial accounting.<\/p> <p>aMay be subjective<\/p> <p>bOften used to state corporate goals<\/p> <p>cTypically prepared quarterly or annually<\/p> <p>dMay measure time or customer satisfaction<\/p> <p>eFuture oriented<\/p> <p>fHas a greater emphasis on cost-benefit analysis<\/p> <p>gKeeps records of assets and liabilities<\/p> <p>hHighly aggregated statements<\/p> <p>iMust conform to external standards<\/p> <p>jSpecial-purpose reports<\/p> <p>kDecision-making tool<\/p> <p>lIncome statement, balance sheet, and statement of cash flows<\/p> <p> <\/p> <p><strong>Question 3:<\/strong> <strong>Activities and Cost Drivers<\/strong><\/p> <p>For each of the following activities, select the most appropriate cost driver. Each cost driver may be used only once.<\/p> <p> <\/p> <p><strong>Activity<\/strong><\/p> <p>1.Pay vendors<\/p> <p>2.Receive material deliveries<\/p> <p>3.Inspect raw materials<\/p> <p>4.Plan for purchases of raw materials<\/p> <p>5.Packaging<\/p> <p>6.Supervision<\/p> <p>7.Employee training<\/p> <p>8.Operating machines<\/p> <p>9.Machine maintenance<\/p> <p>10.Opening accounts at a bank<\/p> <p> <\/p> <p><strong>Cost Driver<\/strong><\/p> <p>a.Number of different raw material items<\/p> <p>b.Number of classes offered<\/p> <p>c.Number of machine hours<\/p> <p>d.Number of employees<\/p> <p>e.Number of maintenance hours <\/p> <p>f.Number of units of raw materials received<\/p> <p>g.Number of new customers<\/p> <p>h.Number of deliveries<\/p> <p>i.Number of checks issued<\/p> <p>j.Number of customer orders<\/p>",
    "transcribed_text": "",
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        "edition": "31st Edition",
        "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill",
        "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg",
        "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618",
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    "question_posted": "2024-06-28 04:38:41",
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