Test Bank for Horngren's Financial & Managerial Accounting The Managerial Chapters, 37th edition by Tracie Miller-Nobles, Brenda Mattison Latest 2024 VERSION

1w
Copyrightw©w2016wPearsonwEducation,wInc.w
Horngren'swFinancialwandwManagerialwAccounting,w5ew(Miller-Nobles)w
Chapterw16wwIntroductionwtowManagerialwAccountingww
w

LearningwObjectivew16-1w
w

1)wManagerialwaccountingwfocuseswonwprovidingwinformationwforwinternalwplanningwandwco
ntrol.w
Answer:wwTRUEw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

2)wFinancialwaccountingwprepareswreportswforwinternalwpurposes,wwhereaswmanagerialwacco
untingwprovidesw
informationwtowexternalwstakeholders.w
Answer:wwFALSEw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

3)wFinancialwstatementswpreparedwforwinvestorswandwcreditorswoftenwincludewforward-
lookingwinformationw
becausewtheywmakewdecisionswbasedwonwawcompany'swfuturewprospects.w
Answer:wwFALSEw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

4)wManagerialwaccountingwreportingwbywawpublicwfirmwiswrequiredwtowfollowwthewruleswofwG
AAPwandw
guidelineswofwthewSecuritieswandwExchangewCommission.w
Answer:wwFALSEw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

5)wAwbudgetwiswawmanagerialwaccountingwtoolwusedwinwthewplanningwprocess.w

,Answer:wwTRUEw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
DOWNLOADwTHEwTestwBankwforwHorngrenswFinancialwandwManagerial
AccountingwThewManagerialwChaptersw5thwEditionwMiller-Nobles
mynursytest.store
2w
Copyrightw©w2016wPearsonwEducation,wInc.w
6)wFinancialwreportingwiswtypicallywmuchwmorewdetailedwthanwmanagerialwaccounting.w
Answer:wwFALSEw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

7)wWhichwofwthewfollowingwiswanwobjectivewofwmanagerialwaccounting?w
A)wtowgeneratewawcompany'swfinancialwstatementswforwtaxwreportingw
B)wtowprovidewinformationwtowbusinesswmanagerswtowassistwthemwinwcontrollingwtheirwbusin
essw
C)wtowprovidewinformationwtowshareholderswtowassistwthemwwithwtheirwinvestmentwdecisions
w

D)wtowensurewthatwthewreportswproducedwforwinternalwandwexternalwbusinesswpurposeswarew
GAAPwcompliantw
Answer:wwBw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

8)wWhichwofwthewfollowingwstatementswiswtruewofwmanagerialwaccounting?w
A)wThewexternalwstakeholderswofwawcompanywarewthewprimarywuserswofwmanagerialwaccount
ing.w
B)wManagerialwaccountingwinformationwiswusedwtowhelpwmanagerswplanwandwcontrolwtheirwo
perations.w
C)wAnwexternalwauditwbywanwindependentwCPAwiswrequiredwforwmanagerialwaccountingwinfor
mation.w
D)wManagerialwaccountingwinformationwmustwcomplywwithwGenerallywAcceptedwAccountingw
Principles.w
Answer:wwBw
Diff:w1w

,LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

9)wManagerialwaccountingwinformationwforwawcompanywiswprimarilywusedwbyw________.w
A)witswcustomerswtowunderstandwthewpricingwofwthewproductw
B)witswcreditorswtowunderstandwthewcredibilitywofwthewbusinessw
C)witswemployeeswtowplanwandwcontrolwoperationsw
D)witswinvestorswtowmakewtheirwinvestmentwdecisionsw
Answer:wwCw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
DOWNLOADwTHEwTestwBankwforwHorngrenswFinancialwandwManagerial
AccountingwThewManagerialwChaptersw5thwEditionwMiller-Nobles
mynursytest.store
3w
Copyrightw©w2016wPearsonwEducation,wInc.w
10)wWhichwofwthewfollowingwstatementswiswtruewofwfinancialwaccounting?w
A)wItwprovideswinformationwtowinvestorswneededwforwtheirwinvestmentwdecisions.w
B)wItwprovideswforward-
lookingwinformationwneededwforwmanagingwandwdelegatingwoperations.w
C)wItwfocuseswonwdetailedwreportswforwpartswofwthewcompanywratherwthanwthewwholewcompa
ny.w
D)wItwfocuseswonwplanningwandwcontrollingwday-to-daywoperations.w
Answer:wwAw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

11)wManagerialwaccountingwincludeswthewplanningwfunction.wWhichwofwthewfollowingwitemsw
wouldwbewpartwofw
thewplanningwfunctionwofwawbusiness'swmanagerialwaccounting?w
A)wcomparingwactualwperformancewtowpreviouslywbudgetedwamountsw
B)wcreatingwdetailedwbudgetsw
C)wimplementingwoperationalwplansw
D)wevaluatingwresultswofwoperationsw
Answer:wwBw
Diff:w1w

, LO:ww16-1w
AACSB:wwAnalyticalwthinkingw
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

12)wComparingwactualwperformancewtowpreviouslywbudgetedwamountswiswpartwofwthew_______
_.w
A)wcontrollingwfunctionwofwmanagerialwaccountingw
B)wplanningwfunctionwofwmanagerialwaccountingw
C)wreportingwfunctionwofwmanagerialwaccountingw
D)worganizingwfunctionwofwmanagerialwaccountingw
Answer:wwAw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
w

13)wWhichwofwthewfollowingwiswthewprimarywobjectivewofwmanagerialwaccounting?w
A)wprovidingwinformationwthatwmanagerswneedwtowmakewoperationalwdecisionsw
B)wprovidingwhistoricalwdatawtowinvestorswandwcreditorsw
C)wprovidingwsummarizedwresultswofwoperationsw
D)wprovidingwinformationwtowcomplywwithwlawswandwregulationswofwgovernmentwbodiesw
Answer:wwAw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw
PEwQuestionwType:wwConceptw
H2:wwFinancialwVersuswManagerialwAccountingw
DOWNLOADwTHEwTestwBankwforwHorngrenswFinancialwandwManagerial
AccountingwThewManagerialwChaptersw5thwEditionwMiller-Nobles
mynursytest.store
4w
Copyrightw©w2016wPearsonwEducation,wInc.w
14)wWhichwofwthewfollowingwiswthewprimarywfocuswofwfinancialwaccounting?w
A)wprovidingwinformationwthatwmanagerswneedwtowmakewoperationalwdecisionsw
B)wprovidingwsummarizedwinformationwonwoperationalwresultswtowinvestorswandwcreditorsw
C)wprovidingwbudgetswforwfuturewperiodsw
D)wprovidingwhighlywdetailedwinformationwonwproductwlines,wregions,wandwdivisionsw
Answer:wwBw
Diff:w1w
LO:ww16-1w
AICPAwFunctional:wwReportingw