ACCT 2000 Ch.11 EOC Practice Exam
Questions And Answers Graded A+.
independent audits - Answer All of the following are distinguishing features of managerial
accounting except
internal users.
independent audits.
reports pertaining to subunits of the entity.
to provide special-purpose information.
controlling - Answer The process of keeping the company's activities on track is
It is highly aggregated - Answer Which of the following statements is not true about
managerial accounting?
It is primarily for internal users such as officers and managers.
It does not require an audit by a CPA.
It is highly aggregated.
Reports are generated as needed.
It provides more detailed information than financial accounting does - Answer Which of the
following statements is true about managerial accounting?
It is primarily for internal users such as stockholders and managers.
It pertains to a business as a whole.
It provides more detailed information than financial accounting does.
It must be prepared using generally accepting accounting principles.
places emphasis on special-purpose information - Answer Managerial accounting
Planning, directing, and controlling - Answer Which of the following are considered to be
management's three broad functions?
Planning, directing, and controlling
Planning, calculating, and controlling
, Keeping the company's activities on track - Answer Which of the following is considered part
of the controlling process?
Looking ahead and establishing objectives
Implementing planned objectives
Coordinating activities and human resources to produce a smooth running operation
Keeping the company's activities on track
planning, directing, and controlling - Answer The management of an organization performs
several broad functions. They are
planning - Answer The management function that requires management to look ahead and
establish objectives is
Wages paid to a cost accountant department supervisor - Answer Which of the following costs
are classified as a period cost?
Wages paid to a factory custodian.
Wages paid to a production department supervisor.
Wages paid to a cost accountant department supervisor.
Wages paid to an assembly worker.
direct labor - Answer On average, studies have shown that the smallest component of total
manufacturing cost is
$303,000 - Answer Pharmco incurred the following costs while manufacturing its product:
Materials used in production, $120,000; factory depreciation, $60,000; property taxes on the
administrative offices, $12,000; labor costs of assembly-line workers, $95,000; factory supplies
used, $8,000; advertising expense, $13,000; property taxes on the factory, $20,000; delivery
expense, $23,000; salaries of the sales staff, $53,000; and sales commissions, $17,000. The total
product costs for Pharmco are
Advertising cost - Answer Which one of the following is not a manufacturing cost?
Advertising cost
Wages of assembly workers
Wheels that are being installed on new automobiles being manufactured
Questions And Answers Graded A+.
independent audits - Answer All of the following are distinguishing features of managerial
accounting except
internal users.
independent audits.
reports pertaining to subunits of the entity.
to provide special-purpose information.
controlling - Answer The process of keeping the company's activities on track is
It is highly aggregated - Answer Which of the following statements is not true about
managerial accounting?
It is primarily for internal users such as officers and managers.
It does not require an audit by a CPA.
It is highly aggregated.
Reports are generated as needed.
It provides more detailed information than financial accounting does - Answer Which of the
following statements is true about managerial accounting?
It is primarily for internal users such as stockholders and managers.
It pertains to a business as a whole.
It provides more detailed information than financial accounting does.
It must be prepared using generally accepting accounting principles.
places emphasis on special-purpose information - Answer Managerial accounting
Planning, directing, and controlling - Answer Which of the following are considered to be
management's three broad functions?
Planning, directing, and controlling
Planning, calculating, and controlling
, Keeping the company's activities on track - Answer Which of the following is considered part
of the controlling process?
Looking ahead and establishing objectives
Implementing planned objectives
Coordinating activities and human resources to produce a smooth running operation
Keeping the company's activities on track
planning, directing, and controlling - Answer The management of an organization performs
several broad functions. They are
planning - Answer The management function that requires management to look ahead and
establish objectives is
Wages paid to a cost accountant department supervisor - Answer Which of the following costs
are classified as a period cost?
Wages paid to a factory custodian.
Wages paid to a production department supervisor.
Wages paid to a cost accountant department supervisor.
Wages paid to an assembly worker.
direct labor - Answer On average, studies have shown that the smallest component of total
manufacturing cost is
$303,000 - Answer Pharmco incurred the following costs while manufacturing its product:
Materials used in production, $120,000; factory depreciation, $60,000; property taxes on the
administrative offices, $12,000; labor costs of assembly-line workers, $95,000; factory supplies
used, $8,000; advertising expense, $13,000; property taxes on the factory, $20,000; delivery
expense, $23,000; salaries of the sales staff, $53,000; and sales commissions, $17,000. The total
product costs for Pharmco are
Advertising cost - Answer Which one of the following is not a manufacturing cost?
Advertising cost
Wages of assembly workers
Wheels that are being installed on new automobiles being manufactured
