9/14/23,n10:52nAM SolutionsnandnTestnBanknFor nManagerialnAccountingn5thnEditionnBy nStacey n
…
For nAll nChapt er sn à n quer ys m tb @g mail.co m
Managerial nAccounting,n5en(Whitecotton)
Chaptern1 n Introductionnto nManagerial nAccounting
1) Financial n accountingn informationn is ngenerally nused nexclusivelyn by ninternal nparties n suchn
as n managers.
Answer: n FALSE
Explanation: n Financialn accountingn informationn is nused n by nexternaln parties;nmanagerial n accou
ntingn information n is n used n by n internal n business n owners n and n managers.
Difficulty: n 1 n Easy
Topic: n Comparison n ofn financial n and n managerial n accounting
Learningn Objective: n 01-
01 n Describen then key n differences n between n financial n accountingn and n managerial n accounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
2) Financial n accountingn information n is n reported n forn then company n as n an whole.
Answer: n TRUE
Explanation: n Financial n accountingn information n is n provided n at n then company-
widen level.n Difficulty: n 1 n Easy
Topic: n Comparison n ofn financial n and n managerial n accounting
Learningn Objective: n 01-
01 n Describen then key n differences n between n financial n accountingn and n managerial n accounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
3) Managers n must n direct,n lead n and n motivaten duringn then implementation n function.
Answer: n TRUE
Explanation: n Directing/leadingn involves nputtingn then plan ninto naction,n and nmotivatingn others nton
work n toward n then plan's nsuccess,n andn it nis nankey npart nofnputtingn anplann inton actionn (implementati
on).n Difficulty: n 1 n Easy
Topic: n Functions n ofn Management
Learningn Objective: n 01-
02 n Describen hown managerial naccountingn is nusedn in ndifferentn types nofn organizations nto nsupport nthen k
ey n functions n ofn management.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
1
about:blank 1/178
,9/14/23,n10:52nAM SolutionsnandnTestnBanknFor nManagerialnAccountingn5thnEditionnBy nStacey n
…
For nAll nChapt er sn à n quer ys m tb @g mail.co m
4) Managers n ofn small,n privatencorporations nusenmanagerial n accountingn informationn wherea
s n managers n ofn large,n publicn corporations n usen financial n accountingn information.
Answer: n FALSE
Explanation: n Managerial n accountingn information nis nused nby nmanagers n inn all ntypes nofn organiz
ations: n largen and n small,n publicn and n private,n profit n and n nonprofit.
Difficulty: n 1 n Easy
Topic: n Functions n ofn Management
Learningn Objective: n 01-
02 n Describen hown managerial naccountingn is nusedn in ndifferentn types nofn organizations nto nsupport nthen k
ey n functions n ofn management.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
5) Then Sarbanes-
Oxley n Act n ofn2002 nplaces n full nresponsibility nonn then board nofndirectors nfornthen accuracy nofn
then reportingn system.
Answer: n FALSE
Explanation: n SOXn places nmoren responsibility nonn allnmanagers n (not njustn accountants)nfornthen
accuracy n ofn then reportingn system.n SOX n also nplaces n additional nresponsibilities nonn thenboardsnof
n directors n and n external n auditors n to n reducen then opportunity n forn errors n and n fraud.
Difficulty: n 2 n Medium
Topic: n Ethics n and n then Sarbanes-Oxley nAct
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Understandn AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
6) Then Sarbanes-
Oxley n Act n ofn2002 nfocuses non nthreen factorsn that naffect n thenaccountingn reportingn environment:
n ethics,n fraud,n and n managers.
Answer: n FALSE
Explanation: n Then Sarbanes-
Oxley n Act n ofn2002 nfocuses non nthreen factorsn that naffect n thenaccountingn reportingn environment: noppor
tunity,n incentives,n and n character.
Difficulty: n 2 n Medium
Topic: n Ethics n and n then Sarbanes-Oxley nAct
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Understand n AAC
SB: n Ethics
Accessibility: n Keyboard n Navigation
2
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,9/14/23,n10:52nAM SolutionsnandnTestnBanknFor nManagerialnAccountingn5thnEditionnBy nStacey n
…
This is a preview
n n n
Do nyounwantnf ullnaccess?nGo nPremiumnand nunlocknalln96npages
Access nto nall ndocuments nG
etnUnlimited nDownloads nIm
provenyour ngrades
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Sharenyour ndocuments nto nunlock
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, 9/14/23,n10:52nAM SolutionsnandnTestnBanknFor nManagerialnAccountingn5thnEditionnBy nStacey n
…
For nAll nChapt er sn à n quer ys m tb @g mail.co m
7) A n sustainablen businessn is nonenwith nthen ability nton meet nthen needs nofn today n withoutnsacrificingn
then ability n ofn futuren generations n to n meet n theirn own n needs.
Answer: n TRUE
Explanation: n Inn then context nofn businessn"sustainability" nmeans nthenability nto nmeet nthenneedsno
fn today n without n sacrificingn then ability n ofn futuren generations n to n meet n theirn own n needs.
Difficulty: n 1 n Easy
Topic: n Sustainability nAccounting
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Remembern AACS
B: n Ethics
Accessibility: n Keyboard n Navigation
8) Then termn "Bign data" n refers n to n then volume,n velocity n and n veracity n ofn data.
Answer: n FALSE
Explanation: n Veracityn is nan synonymnforn accuracy,nwhich n is nnotnonen ofn then characteristics nofn
bign data.n Then 3 n characteristics n ofn "Bign data" n aren volume,n velocity,n and n variety
Difficulty: n 1 n Easy
Topic: n Decision nAnalytics
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
9) Predictiven analyticsn is nthenprocess nofnrecommendingn ancoursenofnaction nbased nupon nmeaningf
ul n patterns n and n insights n fromn collected n data.
Answer: n FALSE
Explanation: n Prescriptiven analytics,n notn predictivenanalytics,nrecommends ncoursesn ofn action n
Difficulty: n 1 n Easy
Topic: n Decision nAnalytics
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
3
about:blank 4/178
…
For nAll nChapt er sn à n quer ys m tb @g mail.co m
Managerial nAccounting,n5en(Whitecotton)
Chaptern1 n Introductionnto nManagerial nAccounting
1) Financial n accountingn informationn is ngenerally nused nexclusivelyn by ninternal nparties n suchn
as n managers.
Answer: n FALSE
Explanation: n Financialn accountingn informationn is nused n by nexternaln parties;nmanagerial n accou
ntingn information n is n used n by n internal n business n owners n and n managers.
Difficulty: n 1 n Easy
Topic: n Comparison n ofn financial n and n managerial n accounting
Learningn Objective: n 01-
01 n Describen then key n differences n between n financial n accountingn and n managerial n accounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
2) Financial n accountingn information n is n reported n forn then company n as n an whole.
Answer: n TRUE
Explanation: n Financial n accountingn information n is n provided n at n then company-
widen level.n Difficulty: n 1 n Easy
Topic: n Comparison n ofn financial n and n managerial n accounting
Learningn Objective: n 01-
01 n Describen then key n differences n between n financial n accountingn and n managerial n accounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
3) Managers n must n direct,n lead n and n motivaten duringn then implementation n function.
Answer: n TRUE
Explanation: n Directing/leadingn involves nputtingn then plan ninto naction,n and nmotivatingn others nton
work n toward n then plan's nsuccess,n andn it nis nankey npart nofnputtingn anplann inton actionn (implementati
on).n Difficulty: n 1 n Easy
Topic: n Functions n ofn Management
Learningn Objective: n 01-
02 n Describen hown managerial naccountingn is nusedn in ndifferentn types nofn organizations nto nsupport nthen k
ey n functions n ofn management.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
1
about:blank 1/178
,9/14/23,n10:52nAM SolutionsnandnTestnBanknFor nManagerialnAccountingn5thnEditionnBy nStacey n
…
For nAll nChapt er sn à n quer ys m tb @g mail.co m
4) Managers n ofn small,n privatencorporations nusenmanagerial n accountingn informationn wherea
s n managers n ofn large,n publicn corporations n usen financial n accountingn information.
Answer: n FALSE
Explanation: n Managerial n accountingn information nis nused nby nmanagers n inn all ntypes nofn organiz
ations: n largen and n small,n publicn and n private,n profit n and n nonprofit.
Difficulty: n 1 n Easy
Topic: n Functions n ofn Management
Learningn Objective: n 01-
02 n Describen hown managerial naccountingn is nusedn in ndifferentn types nofn organizations nto nsupport nthen k
ey n functions n ofn management.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
5) Then Sarbanes-
Oxley n Act n ofn2002 nplaces n full nresponsibility nonn then board nofndirectors nfornthen accuracy nofn
then reportingn system.
Answer: n FALSE
Explanation: n SOXn places nmoren responsibility nonn allnmanagers n (not njustn accountants)nfornthen
accuracy n ofn then reportingn system.n SOX n also nplaces n additional nresponsibilities nonn thenboardsnof
n directors n and n external n auditors n to n reducen then opportunity n forn errors n and n fraud.
Difficulty: n 2 n Medium
Topic: n Ethics n and n then Sarbanes-Oxley nAct
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Understandn AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
6) Then Sarbanes-
Oxley n Act n ofn2002 nfocuses non nthreen factorsn that naffect n thenaccountingn reportingn environment:
n ethics,n fraud,n and n managers.
Answer: n FALSE
Explanation: n Then Sarbanes-
Oxley n Act n ofn2002 nfocuses non nthreen factorsn that naffect n thenaccountingn reportingn environment: noppor
tunity,n incentives,n and n character.
Difficulty: n 2 n Medium
Topic: n Ethics n and n then Sarbanes-Oxley nAct
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Understand n AAC
SB: n Ethics
Accessibility: n Keyboard n Navigation
2
about:blank 2/178
,9/14/23,n10:52nAM SolutionsnandnTestnBanknFor nManagerialnAccountingn5thnEditionnBy nStacey n
…
This is a preview
n n n
Do nyounwantnf ullnaccess?nGo nPremiumnand nunlocknalln96npages
Access nto nall ndocuments nG
etnUnlimited nDownloads nIm
provenyour ngrades
FreenTrial
Getn30 ndays nofnfreenPremium
Upload
Sharenyour ndocuments nto nunlock
about:blank 3/178
, 9/14/23,n10:52nAM SolutionsnandnTestnBanknFor nManagerialnAccountingn5thnEditionnBy nStacey n
…
For nAll nChapt er sn à n quer ys m tb @g mail.co m
7) A n sustainablen businessn is nonenwith nthen ability nton meet nthen needs nofn today n withoutnsacrificingn
then ability n ofn futuren generations n to n meet n theirn own n needs.
Answer: n TRUE
Explanation: n Inn then context nofn businessn"sustainability" nmeans nthenability nto nmeet nthenneedsno
fn today n without n sacrificingn then ability n ofn futuren generations n to n meet n theirn own n needs.
Difficulty: n 1 n Easy
Topic: n Sustainability nAccounting
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Remembern AACS
B: n Ethics
Accessibility: n Keyboard n Navigation
8) Then termn "Bign data" n refers n to n then volume,n velocity n and n veracity n ofn data.
Answer: n FALSE
Explanation: n Veracityn is nan synonymnforn accuracy,nwhich n is nnotnonen ofn then characteristics nofn
bign data.n Then 3 n characteristics n ofn "Bign data" n aren volume,n velocity,n and n variety
Difficulty: n 1 n Easy
Topic: n Decision nAnalytics
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
9) Predictiven analyticsn is nthenprocess nofnrecommendingn ancoursenofnaction nbased nupon nmeaningf
ul n patterns n and n insights n fromn collected n data.
Answer: n FALSE
Explanation: n Prescriptiven analytics,n notn predictivenanalytics,nrecommends ncoursesn ofn action n
Difficulty: n 1 n Easy
Topic: n Decision nAnalytics
Learningn Objective: n 01-
03 n Describen then importancenofnethics,n sustainability,nand ndecisionn analyticsn in nmanagerial n acc
ounting.
Bloom's: n Remembern AACS
B: n Analytical n Thinking
Accessibility: n Keyboard n Navigation
3
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