Question :
31) In what way do managers benefit from the use : 1196046
31) In what way do managers benefit from the use of a database, or “data warehouse”?
31) ______
A) Managers can store old documents in hard copy.
B) Data can be entered at numerous input terminals within the organization.
C) The managers would not be completely responsible for the information that is entered into the database system.
D) Managers could generate their own reports.
E) The managers could combine or adjust these data to answer the questions from particular internal and external users.
32) Financial accounting is concerned PRIMARILY with
32) ______
A) providing information for strategic and tactical decisions.
B) external reporting to investors, government authorities, etc.
C) providing analysis to facilitate long term decision making.
D) cost planning and cost controls.
E) profitability analysis.
33) In Ex 1-1 of the text, there are 6 ways to classify the major differences between Management and Financial Accounting. The statement “Managers of the organization” is an example of which of the following classes?
33) ______
A) Focus and emphasis
B) Time span and type of reports
C) Primary users
D) Purpose of information.
E) Rules of measurement and reporting
34) In Ex 1-1 of the text, there are 6 ways to classify the major differences between Management and Financial Accounting. The statement “Varies from hourly to 15 to 20 years” is an example of which of the following classes?
34) ______
A) Primary users
B) Rules of measurement and reporting
C) Time span and type of reports
D) Purpose of information.
E) Focus and emphasis
35) In Ex 1-1 of the text, there are 6 ways to classify the major differences between Management and Financial Accounting. The statement “Past oriented” is an example of which of the following classes?
35) ______
A) Purpose of information.
B) Primary users
C) Rules of measurement and reporting
D) Time span and type of reports
E) Focus and emphasis
36) In Ex 1-1 of the text, there are 6 ways to classify the major differences between Management and Financial Accounting. The statement “Communicate organization’s financial position to external users” is an example of which of the following classes?
36) ______
A) Focus and emphasis
B) Time span and type of reports
C) Primary users
D) Rules of measurement and reporting
E) Purpose of information.
37) Management accountants must satisfy their users; therefore, they should do all the following EXCEPT
37) ______
A) consider financial as well as non-financial measures
B) provides specialized information that given users can use.
C) focus exclusively on internal users.
D) continuously strives to provide better quality information faster, and at a lower cost.
E) provides relevant information efficiently and on a timely basis.
38) “Cost management” describes
38) ______
A) the identification of excessive costs in the production process.
B) the actions by managers to increase value for customers while continuously reducing and controlling costs.
C) ensuring all costs remains constant.
D) actions by managers to satisfy customers while maintaining current cost levels.
E) the satisfaction of customers’ needs.
39) Do you agree that prior management decisions affect cost management?
39) ______
A) Yes. Managers should always follow prior management decisions, for example, in the determination of the EOQ.
B) Yes. Managers should always strive to lower the costs incurred last year, as their number 1 priority.
C) No. Managers should ignore prior management decisions.
D) Yes. Prior management decisions can affect any area of the business operations, and commit the organization to the subsequent or continued incurrence of costs in such areas as material handling, and plant construction, for example.
E) Yes. The only prior management decisions that can affect cost management going forward, are concerned with employee wages. All other decisions can be changed.
40) Management accounting
40) ______
A) helps creditors evaluate the company’s performance.
B) must be simple and easily understood.
C) helps managers make decisions.
D) is useful for external and internal users.
E) all of the above
