THURY 1. A characteristic of managerial accounting is A. Strict adherence to GAAP. B. A focus on external decision maker needs. C. A focus on management decision needs. D. All of the above. 2. Which of the following would be considered a staff position in a business organization? A. Plant manager. B. Regional sales manager. C. Controller. D. None of the above. 3. Monitoring operating results and comparing actual results with the expected results is controlling A. True. B. False. 4. Which of the following is a cost of a manufactured product? A. Direct material. B. Direct labor. C. Factory overhead. D. All of the above. 5. Which of the following would not be considered a factory overhead cost? A. Heating and lighting the factory. B. Insurance on factory building. C. Depreciation on office building. D. Both A and C above. 6. Direct materials costs combined with direct labor costs are called conversion costs. A. True. B. False. 7. Short-term plans are called strategic plans. A. True. B. False