TEST BANK
HORNGREN'S ACCOUNTING: THE MANAGERIAL CHAPTERS
, TABLE OF CONTENTS
1. Introduction to Managerial Accounting
2. Job Order Costing
3. Process Costing
4. Cost-Volume-Profit Analysis
5. Master Budgets
6. Flexible Budgets and Standard Cost Systems
7. Cost Allocation and Responsibility Accounting
8. Short-Term Business Decisions
9. Capital Investment Decisions
,Horngren's Accounting: The Managerial Chapters, 14e (Miller-Nobles)
Chapter M: 1 Introduction To Managerial Accounting
Learning Objective M:1-1
Managerial Accounting Focuses On Providing Information For Internal Planning And
Control. Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Financial Accounting Prepares Reports For Internal Purposes, Whereas Managerial Accounting
Provides Information To External Stakeholders.
Answer: FALSE
Explanation: The Reverse Is True. Financial Accounting Serves External Stakeholder Information
Needs While Managerial Accounting Serves The Needs Of Managers And Internal Staff.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Financial Statements Prepared For Investors And Creditors Often Include Forward-Looking
Information Because They Make Decisions Based On A Company's Future Prospects.
Answer: FALSE
Explanation: Financial Statements Provide Mostly Historical Information; Relevant And
Faithfully Representative Information And Focused On The Past.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Managerial Accounting Reporting By A Public Firm Is Required To Follow The Rules Of GAAP.
Answer: FALSE
Explanation: Managerial Accounting Information Is Not Guided By GAAP But Rather By The Concept
Of Usefulness To Management For Decision Making Purposes.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
1
Copyright © 2024
, Financial Reporting Is Typically Much More Detailed Than Managerial
Accounting. Answer: FALSE
Explanation: Financial Reporting Is Typically Less Detailed Than Managerial Accounting
Information. Financial Accounting Reporting Is Usually Summary Reports, Prepared Primarily On
The Company As A Whole, Usually On A Quarterly Or Annual Basis.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Managerial Accounting Provides Financial Statements That Report Results Of Operations,
Financial Position, And Cash Flows Both To Managers And To External Stockholders.
Answer: FALSE
Explanation: Managerial Accounting Provides The Information Needed To Plan And Control
Operations And Therefore Serves The Information Needs Of Internal Parties Such As Managers And
Staff.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Is A Focus Of Managerial Accounting?
To Generate A Company's Financial Statements For Tax Reporting
To Provide Information To Business Managers To Assist Them In Controlling Their Businesses
To Provide Information To Shareholders To Assist Them With Their Investment Decisions
To Ensure That The Reports Produced For Internal And External Business Purposes Are GAAP
Compliant Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
8) Which Of The Following Statements Is True Of Managerial Accounting?
The External Stakeholders Of A Company Are The Primary Users Of Managerial Accounting.
Managerial Accounting Information Is Used To Help Managers Plan, Direct And Control Their
Operations.
An External Audit By An Independent CPA Is Required For Managerial Accounting Information.
Managerial Accounting Information Must Comply With Generally Accepted Accounting
Principles. Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
2
Copyright © 2024
, Managerial Accounting Information For A Company Is Primarily Used By
________. A) Its Customers To Understand The Pricing Of The Product
B) Its Creditors To Understand The Credibility Of The
Business C) Its Employees To Plan, Direct And Control
Operations
D) Its Investors To Make Their Investment
Decisions Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Statements Is True Of Financial Accounting?
It Provides Information To Investors Needed For Their Investment Decisions.
It Provides Future Focused Information Needed For Managing And Delegating Operations.
It Focuses On Detailed Reports For Parts Of The Company Rather Than The Whole Company.
It Focuses On Planning, Directing And Controlling Day-To-Day Operations.
Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Is The Primary Focus Of Managerial
Accounting? A) Providing Information That Managers Need To Make
Operational Decisions B) Providing Historical Data To Investors And
Creditors
C) Providing Summarized Results Of Operations
D) Providing Information To Comply With Laws And Regulations Of Government
Bodies Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Is The Primary Focus Of Financial Accounting?
Providing Information That Managers Need To Make Operational Decisions
Providing Summarized Information On Operational Results To Investors And Creditors
Providing Information To Managers To Assist In Planning, Directing And Controlling Operations
Providing Highly Detailed Information On Product Lines, Regions, And Divisions
Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
3
Copyright © 2024
, Connie Is Analyzing The Financial Statements Of Megamart And Bullseye Company. She Wants To
Invest In One Of The Companies And Is Trying To Decide Which Company Has The Beber Past
Performance. Connie Is Examining ________.
A) Managerial Accounting
Information B) Financial Accounting
Information C) Regulatory
Accounting Information
D) Organizational Accounting
Information Answer: B
Explanation: Financial Accounting Information Is Focused On External Users And Past Performance.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Who Is A Primary User Of Managerial Accounting Information?
Investors
Company Managers
Creditors
Government
Authorities Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Statements Is True Of Managerial
Accounting? A) It Is Required To Follow GAAP.
B) The Focus Is On The Future.
C) An External Audit By An Independent CPA Is Required For Managerial Accounting
Information. D) Summary Reports Are Prepared Primarily For The Company As A Whole.
Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
4
Copyright © 2024
, Which Of The Following Statements Is True Of Financial Accounting?
A) Summary Reports Are Prepared Primarily On The Company As A Whole.
B) It Provides Future Focused Information Needed For Managing And Delegating
Operations. C) It Does Not Need To Follow GAAP.
D) It Focuses On Planning, Directing And Controlling Day-To-Day
Operations. Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Would Be Primary Users Of Financial Accounting
Information? A) Supervisors
B) Company
Managers C) Foremen
D) Government
Authorities Answer: D
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Miguel, A Manager For Sierra Company, Is Inspecting The Reports Provided By His Company's
Accounting Department. He Wants To Decide How To Schedule His Department's Employees In
Production Next Week. Miguel Is Examining ________.
A) Managerial Accounting
Information B) Financial Accounting
Information C) Regulatory
Accounting Information
D) Organizational Accounting
Information Answer: A
Explanation: Managerial Accounting Information Is For Internal Users And Is Future Focused.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Application
H2: Why Is Managerial Accounting Important? (H1)
A Company's Organizational Chart Shows The Relationships Between Departments And
Divisions And The Managers That Are Responsible For Each Section.
Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
5
Copyright © 2024
, Most Companies Structure Their Organizations Along Departments Or
Divisions. Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
A Company's President Or Chief Executive Officer (CEO) Is Selected By The
Stockholders. Answer: FALSE
Explanation: The President Is Selected By The Board Of Directors.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Staff Positions Are Directly Involved In Providing Goods Or Services To
Customers. Answer: FALSE
Explanation: Line Positions Are Directly Involved With Customers.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
The Chief Financial Officer, Controller, And Treasurer Are All Examples Of Staff
Positions. Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Staff Position As Opposed To A Line
Position? A) Division Manager
B) Production Manager
C) Sales Manager
D) Payroll Processing Manager
Answer: D
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
6
Copyright © 2024
, The Officer Of The Company Who Has The Ultimate Responsibility For Implementing The
Company's Long And Short-Term Goals Is The ________.
A) Chief Financial Officer
B) Chair Of The Board
C) Chief Executive Officer
D) Chief Officer For Human
Relations Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Staff Position As Opposed To A Line
Position? A) Chief Executive Officer
B) Chief Operating Officer
C) Division Manager
D) Treasurer
Answer: D
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Line Position As Opposed To A Staff
Position? A) Chief Operating Officer
B) Controller
C) Payroll Processor
D) Treasurer
Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
7
Copyright © 2024
, Which Of The Following Functions Might Be Classified As A Staff Position As Opposed To A Line
Position? A) Chief Financial Officer
B) Chief Operating Officer
C) Division Manager
D) Chief Executive Officer
Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Line Position As Opposed To A Staff
Position? A) Chief Financial Officer
B) Controller
C) Division Manager
D) Treasurer
Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
________ Shows The Relationship Between Departments And Divisions And Managers
Responsible For Each Section.
A) Board Of Directors
Chart B) Controllers Chart
C) Organizational
Chart D) Treasurer's
Chart Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
8
Copyright © 2024
HORNGREN'S ACCOUNTING: THE MANAGERIAL CHAPTERS
, TABLE OF CONTENTS
1. Introduction to Managerial Accounting
2. Job Order Costing
3. Process Costing
4. Cost-Volume-Profit Analysis
5. Master Budgets
6. Flexible Budgets and Standard Cost Systems
7. Cost Allocation and Responsibility Accounting
8. Short-Term Business Decisions
9. Capital Investment Decisions
,Horngren's Accounting: The Managerial Chapters, 14e (Miller-Nobles)
Chapter M: 1 Introduction To Managerial Accounting
Learning Objective M:1-1
Managerial Accounting Focuses On Providing Information For Internal Planning And
Control. Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Financial Accounting Prepares Reports For Internal Purposes, Whereas Managerial Accounting
Provides Information To External Stakeholders.
Answer: FALSE
Explanation: The Reverse Is True. Financial Accounting Serves External Stakeholder Information
Needs While Managerial Accounting Serves The Needs Of Managers And Internal Staff.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Financial Statements Prepared For Investors And Creditors Often Include Forward-Looking
Information Because They Make Decisions Based On A Company's Future Prospects.
Answer: FALSE
Explanation: Financial Statements Provide Mostly Historical Information; Relevant And
Faithfully Representative Information And Focused On The Past.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Managerial Accounting Reporting By A Public Firm Is Required To Follow The Rules Of GAAP.
Answer: FALSE
Explanation: Managerial Accounting Information Is Not Guided By GAAP But Rather By The Concept
Of Usefulness To Management For Decision Making Purposes.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
1
Copyright © 2024
, Financial Reporting Is Typically Much More Detailed Than Managerial
Accounting. Answer: FALSE
Explanation: Financial Reporting Is Typically Less Detailed Than Managerial Accounting
Information. Financial Accounting Reporting Is Usually Summary Reports, Prepared Primarily On
The Company As A Whole, Usually On A Quarterly Or Annual Basis.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Managerial Accounting Provides Financial Statements That Report Results Of Operations,
Financial Position, And Cash Flows Both To Managers And To External Stockholders.
Answer: FALSE
Explanation: Managerial Accounting Provides The Information Needed To Plan And Control
Operations And Therefore Serves The Information Needs Of Internal Parties Such As Managers And
Staff.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Is A Focus Of Managerial Accounting?
To Generate A Company's Financial Statements For Tax Reporting
To Provide Information To Business Managers To Assist Them In Controlling Their Businesses
To Provide Information To Shareholders To Assist Them With Their Investment Decisions
To Ensure That The Reports Produced For Internal And External Business Purposes Are GAAP
Compliant Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
8) Which Of The Following Statements Is True Of Managerial Accounting?
The External Stakeholders Of A Company Are The Primary Users Of Managerial Accounting.
Managerial Accounting Information Is Used To Help Managers Plan, Direct And Control Their
Operations.
An External Audit By An Independent CPA Is Required For Managerial Accounting Information.
Managerial Accounting Information Must Comply With Generally Accepted Accounting
Principles. Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
2
Copyright © 2024
, Managerial Accounting Information For A Company Is Primarily Used By
________. A) Its Customers To Understand The Pricing Of The Product
B) Its Creditors To Understand The Credibility Of The
Business C) Its Employees To Plan, Direct And Control
Operations
D) Its Investors To Make Their Investment
Decisions Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Statements Is True Of Financial Accounting?
It Provides Information To Investors Needed For Their Investment Decisions.
It Provides Future Focused Information Needed For Managing And Delegating Operations.
It Focuses On Detailed Reports For Parts Of The Company Rather Than The Whole Company.
It Focuses On Planning, Directing And Controlling Day-To-Day Operations.
Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Is The Primary Focus Of Managerial
Accounting? A) Providing Information That Managers Need To Make
Operational Decisions B) Providing Historical Data To Investors And
Creditors
C) Providing Summarized Results Of Operations
D) Providing Information To Comply With Laws And Regulations Of Government
Bodies Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Is The Primary Focus Of Financial Accounting?
Providing Information That Managers Need To Make Operational Decisions
Providing Summarized Information On Operational Results To Investors And Creditors
Providing Information To Managers To Assist In Planning, Directing And Controlling Operations
Providing Highly Detailed Information On Product Lines, Regions, And Divisions
Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
3
Copyright © 2024
, Connie Is Analyzing The Financial Statements Of Megamart And Bullseye Company. She Wants To
Invest In One Of The Companies And Is Trying To Decide Which Company Has The Beber Past
Performance. Connie Is Examining ________.
A) Managerial Accounting
Information B) Financial Accounting
Information C) Regulatory
Accounting Information
D) Organizational Accounting
Information Answer: B
Explanation: Financial Accounting Information Is Focused On External Users And Past Performance.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Who Is A Primary User Of Managerial Accounting Information?
Investors
Company Managers
Creditors
Government
Authorities Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Statements Is True Of Managerial
Accounting? A) It Is Required To Follow GAAP.
B) The Focus Is On The Future.
C) An External Audit By An Independent CPA Is Required For Managerial Accounting
Information. D) Summary Reports Are Prepared Primarily For The Company As A Whole.
Answer: B
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
4
Copyright © 2024
, Which Of The Following Statements Is True Of Financial Accounting?
A) Summary Reports Are Prepared Primarily On The Company As A Whole.
B) It Provides Future Focused Information Needed For Managing And Delegating
Operations. C) It Does Not Need To Follow GAAP.
D) It Focuses On Planning, Directing And Controlling Day-To-Day
Operations. Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Which Of The Following Would Be Primary Users Of Financial Accounting
Information? A) Supervisors
B) Company
Managers C) Foremen
D) Government
Authorities Answer: D
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Why Is Managerial Accounting Important? (H1)
Miguel, A Manager For Sierra Company, Is Inspecting The Reports Provided By His Company's
Accounting Department. He Wants To Decide How To Schedule His Department's Employees In
Production Next Week. Miguel Is Examining ________.
A) Managerial Accounting
Information B) Financial Accounting
Information C) Regulatory
Accounting Information
D) Organizational Accounting
Information Answer: A
Explanation: Managerial Accounting Information Is For Internal Users And Is Future Focused.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Application
H2: Why Is Managerial Accounting Important? (H1)
A Company's Organizational Chart Shows The Relationships Between Departments And
Divisions And The Managers That Are Responsible For Each Section.
Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
5
Copyright © 2024
, Most Companies Structure Their Organizations Along Departments Or
Divisions. Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
A Company's President Or Chief Executive Officer (CEO) Is Selected By The
Stockholders. Answer: FALSE
Explanation: The President Is Selected By The Board Of Directors.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Staff Positions Are Directly Involved In Providing Goods Or Services To
Customers. Answer: FALSE
Explanation: Line Positions Are Directly Involved With Customers.
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
The Chief Financial Officer, Controller, And Treasurer Are All Examples Of Staff
Positions. Answer: TRUE
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Staff Position As Opposed To A Line
Position? A) Division Manager
B) Production Manager
C) Sales Manager
D) Payroll Processing Manager
Answer: D
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
6
Copyright © 2024
, The Officer Of The Company Who Has The Ultimate Responsibility For Implementing The
Company's Long And Short-Term Goals Is The ________.
A) Chief Financial Officer
B) Chair Of The Board
C) Chief Executive Officer
D) Chief Officer For Human
Relations Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Staff Position As Opposed To A Line
Position? A) Chief Executive Officer
B) Chief Operating Officer
C) Division Manager
D) Treasurer
Answer: D
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Line Position As Opposed To A Staff
Position? A) Chief Operating Officer
B) Controller
C) Payroll Processor
D) Treasurer
Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
7
Copyright © 2024
, Which Of The Following Functions Might Be Classified As A Staff Position As Opposed To A Line
Position? A) Chief Financial Officer
B) Chief Operating Officer
C) Division Manager
D) Chief Executive Officer
Answer: A
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
Which Of The Following Functions Might Be Classified As A Line Position As Opposed To A Staff
Position? A) Chief Financial Officer
B) Controller
C) Division Manager
D) Treasurer
Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
________ Shows The Relationship Between Departments And Divisions And Managers
Responsible For Each Section.
A) Board Of Directors
Chart B) Controllers Chart
C) Organizational
Chart D) Treasurer's
Chart Answer: C
Diff: 1
LO: M:1-1
AACSB: Application Of Knowledge
AICPA Functional: Reporting
PE Question Type: Concept
H2: Managers' Role In The Organization
8
Copyright © 2024
