Chapter 01 10e Answers Included ✅
1) Which of the following items are representative of managerial
accounting? Note: Check all that apply.
A) Financial statement in accordance with GAAP
B) Monthly sales reports used internally to allocate funds to divisions C)
Quarterly financial information sent to investors
D) Audited financial statements submitted to bankers with credit
application E) Budget projections used to make logistic decisions
2) Which of the following costs are not included in the cost of manufacturing a
product? Note: Check all that apply.
A) Marketing
B) Production workers' wages
C) Factory janitor's wages
D) CEO salary
E) Depreciation on manufacturing
equipment
3) Which of the following is considered a downstream
cost? Note: Check all that apply.
A) Research and development
B) Production wages
C) Advertising cost
D) Warranty cost
E) Cost of internet in manufacturing
plant
4) Which of the following are examples of inventory holding
costs? Note: Check all that apply.
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, A) Cost of warehouse space
B) Cost of shipping inventory to
customers
C) Research and development cost
D) Cost of supervising inventory
E) Inventory spoilage cost
5) Ashley Bradshaw is the manager of one department in a large store. In this
capacity, which of the following kinds of information would she be interested in?
A) Economic data
B) Financial data
C) Nonfinancial data
D) Financial, economic, and nonfinancial
data
6) All of the following are features of managerial accountingexcept:
A) information is provided primarily to insiders such as managers.
B) information includes economic and non-financial data as well as financial
data. C) information is characterized by objectivity, reliability, consistency, and
accuracy. D) information is reported continuously with a present or future
orientation.
7) Choose the answer that isnot a distinguishing characteristic of financial
accounting information.
A) It is global information that reflects the performance of the whole
company. B) It is focused primarily on the future.
C) It is more concerned with financial data than physical or economic data.
D) It is more highly regulated than managerial accounting information.
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