TEST BANK ??
K
EE
DG
EE
M
, Test Bank
Management Accounting, 9th Update Edition
Langfield-Smith · Smith · Andon · Hilton · Thorne
9TH UPDATE EDITION
TABLE OF CONTENTS
PART ONE — FOUNDATIONS OF MANAGEMENT ACCOUNTING
Ch. 01 Management Accounting: Information for Creating Value and Managing Resources
M
Ch. 02 Management Accounting: Cost Terms and Concepts
Ch. 03 Cost Behaviour, Cost Drivers and Cost Estimation
EE
PART TWO — PRODUCT AND SERVICE COSTING SYSTEMS
Ch. 04 Product Costing Systems
Ch. 05 Process Costing and Operation Costing
Ch. 06 Service Costing
DG
Ch. 07 A Closer Look at Overhead Costs
Ch. 08 Activity-Based Costing
PART THREE — PLANNING AND CONTROL
Ch. 09 Budgeting Systems
Ch. 10 Standard Costs for Control: Direct Material and Direct Labour
EE
Ch. 11 Standard Costs for Control: Flexible Budgets and Manufacturing Overhead
PART FOUR — PERFORMANCE MANAGEMENT
Ch. 12 Managing and Reporting Performance
K
Ch. 13 Financial Performance Measures and Incentive Schemes
Ch. 14 Strategic Performance Measurement Systems
PART FIVE — STRATEGIC COST MANAGEMENT
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Ch. 15 Managing Suppliers and Customers
Ch. 16 Managing Costs and Quality
Ch. 17 Sustainability and Management Accounting
PART SIX — DECISION MAKING
Ch. 18 Cost Volume Profit Analysis
Ch. 19 Information for Decisions: Relevant Costs and Benefits
Ch. 20 Pricing and Product Mix Decisions
Ch. 21 Information for Capital Expenditure Decisions
,©. Langfield Smith, Management Accounting, 9e Chapter 01 Testbank
Chapter 01 Testbank
1.W hat type of accounting system is part of an organisation's management information
system for internal use only?
A. Financial accounting
B. Management accounting
C.G overnmental accounting
D. All of the given answers
M
2.W hich of the following statement/s about management accounting is/are true?
i. It is a part of an organisation's management information system.
EE
ii. It is relied on by managers to plan and control an organisation's operations.
iii. It is relied on by external users to make investment decisions.
DG
A. i and ii
B. i, ii and iii
C. iii
D. ii
3. Which of the following statement/s about management accounting is/are true?
EE
i. It is concerned only with information obtained from the accounting records.
ii. It is concerned with financial and non-financial information.
iii. It can provide information useful for making decisions.
K
A. i
B. i and ii
C. ii and iii
??
D. ii
4. A strategy is:
i. another name for a long-term objective.
ii. the same as an objective.
iii. a means by which an organisation plans to meet its mission and achieve its objectives.
, ©. Langfield Smith, Management Accounting, 9e Chapter 01 Testbank
A. i
B. ii
C.i ii
D. i and ii
5.W hich of the following is not an objective of management accounting?
A. Providing information for making decisions
B. Providing information for planning
C.P roviding information for control
M
D. Providing information for profit and loss statements
6.P lanning is:
EE
A. comparing actual performance against targets.
B. setting objectives and formulating plans for future operations.
C.m easuring the performance of managers against preset targets.
D. motivating managers towards achieving organisational goals.
DG
7.' Control' involves:
A. formulating details of operations and finances for the next financial year.
B. comparing actual performance against targets.
C.d eciding whether to expand activities.
D. All of the given answers
EE
8.P art of the planning process involves:
A. formulating details of operations and finances for the next financial year.
B. comparing actual performance against targets.
C.m aking a choice between available alternatives.
K
D. measuring the performance of managers against preset targets.
9.T he role of management accounting is to:
A. provide information to parties outside the organisation.
??
B. provide information to managers within the organisation.
C.p rovide information to government agencies.
D. All of the given answers
10. Budgeting can be used in an organisation to:
A. motivate managers to achieve organisational goals.
B. control operations.
C.p rovide managers with information for making decisions and planning.
D. All of the given answers
K
EE
DG
EE
M
, Test Bank
Management Accounting, 9th Update Edition
Langfield-Smith · Smith · Andon · Hilton · Thorne
9TH UPDATE EDITION
TABLE OF CONTENTS
PART ONE — FOUNDATIONS OF MANAGEMENT ACCOUNTING
Ch. 01 Management Accounting: Information for Creating Value and Managing Resources
M
Ch. 02 Management Accounting: Cost Terms and Concepts
Ch. 03 Cost Behaviour, Cost Drivers and Cost Estimation
EE
PART TWO — PRODUCT AND SERVICE COSTING SYSTEMS
Ch. 04 Product Costing Systems
Ch. 05 Process Costing and Operation Costing
Ch. 06 Service Costing
DG
Ch. 07 A Closer Look at Overhead Costs
Ch. 08 Activity-Based Costing
PART THREE — PLANNING AND CONTROL
Ch. 09 Budgeting Systems
Ch. 10 Standard Costs for Control: Direct Material and Direct Labour
EE
Ch. 11 Standard Costs for Control: Flexible Budgets and Manufacturing Overhead
PART FOUR — PERFORMANCE MANAGEMENT
Ch. 12 Managing and Reporting Performance
K
Ch. 13 Financial Performance Measures and Incentive Schemes
Ch. 14 Strategic Performance Measurement Systems
PART FIVE — STRATEGIC COST MANAGEMENT
??
Ch. 15 Managing Suppliers and Customers
Ch. 16 Managing Costs and Quality
Ch. 17 Sustainability and Management Accounting
PART SIX — DECISION MAKING
Ch. 18 Cost Volume Profit Analysis
Ch. 19 Information for Decisions: Relevant Costs and Benefits
Ch. 20 Pricing and Product Mix Decisions
Ch. 21 Information for Capital Expenditure Decisions
,©. Langfield Smith, Management Accounting, 9e Chapter 01 Testbank
Chapter 01 Testbank
1.W hat type of accounting system is part of an organisation's management information
system for internal use only?
A. Financial accounting
B. Management accounting
C.G overnmental accounting
D. All of the given answers
M
2.W hich of the following statement/s about management accounting is/are true?
i. It is a part of an organisation's management information system.
EE
ii. It is relied on by managers to plan and control an organisation's operations.
iii. It is relied on by external users to make investment decisions.
DG
A. i and ii
B. i, ii and iii
C. iii
D. ii
3. Which of the following statement/s about management accounting is/are true?
EE
i. It is concerned only with information obtained from the accounting records.
ii. It is concerned with financial and non-financial information.
iii. It can provide information useful for making decisions.
K
A. i
B. i and ii
C. ii and iii
??
D. ii
4. A strategy is:
i. another name for a long-term objective.
ii. the same as an objective.
iii. a means by which an organisation plans to meet its mission and achieve its objectives.
, ©. Langfield Smith, Management Accounting, 9e Chapter 01 Testbank
A. i
B. ii
C.i ii
D. i and ii
5.W hich of the following is not an objective of management accounting?
A. Providing information for making decisions
B. Providing information for planning
C.P roviding information for control
M
D. Providing information for profit and loss statements
6.P lanning is:
EE
A. comparing actual performance against targets.
B. setting objectives and formulating plans for future operations.
C.m easuring the performance of managers against preset targets.
D. motivating managers towards achieving organisational goals.
DG
7.' Control' involves:
A. formulating details of operations and finances for the next financial year.
B. comparing actual performance against targets.
C.d eciding whether to expand activities.
D. All of the given answers
EE
8.P art of the planning process involves:
A. formulating details of operations and finances for the next financial year.
B. comparing actual performance against targets.
C.m aking a choice between available alternatives.
K
D. measuring the performance of managers against preset targets.
9.T he role of management accounting is to:
A. provide information to parties outside the organisation.
??
B. provide information to managers within the organisation.
C.p rovide information to government agencies.
D. All of the given answers
10. Budgeting can be used in an organisation to:
A. motivate managers to achieve organisational goals.
B. control operations.
C.p rovide managers with information for making decisions and planning.
D. All of the given answers
