Question : Multiple Choice Questions 1.Ashley Bradshaw the manager of one department in : 1257000

Multiple Choice Questions 

1.Ashley Bradshaw is the manager of one department in a large store. In this capacity, which of the following kinds of information would she be interested in?   

A. Economic data.

 

B. Financial data

 

C. Nonfinancial data.

 

D. Both Financial data and Nonfinancial data.

 

 

2.All of the following are features of managerial accounting except:   

A. information is provided primarily to insiders such as managers.

 

B. information includes economic and non-financial data as well as financial data.

 

C. information is characterized by objectivity, reliability, consistency, and accuracy.

 

D. information is reported continuously with a present or future orientation.

 

 

3.Choose the answer that is not a distinguishing characteristic of financial accounting information.   

A. It is global information that reflects the performance of the whole company.

 

B. It is focused primarily on the future.

 

C. It is more concerned with financial data than physical or economic data.

 

D. It is more highly regulated than managerial accounting information.

 

 

4.Managerial accounting information is limited or restricted by which of the following authorities or principles?   

A. Securities and Exchange Commission

 

B. Generally Accepted Accounting Principles

 

C. Managerial Accounting Standards Board

 

D. Value-Added Principle

 

 

5.Select the incorrect statement regarding the relationship between type of user and type of information.   

A. Middle managers need more nonfinancial, or operational data than do senior executives.

 

B. Assembly line supervisors need more immediate feedback on performance than do senior executives.

 

C. Senior executives need less aggregated information than do lower-level managers.

 

D. Senior executives use general economic information as well as financial information.

 

 

6.Select the correct statement regarding managerial and financial accounting.   

A. Users of managerial accounting information desire greater aggregation than do users of financial accounting information.

 

B. Both managerial and financial accounting use economic and physical data in addition to financial data.

 

C. Financial accounting is more highly regulated than managerial accounting.

 

D. Timeliness is more important in financial accounting than in managerial accounting.

 

 

7.Which of the following most exemplifies the value-added principle?   

A. An ongoing process where continuous improvement is the goal

 

B. A competitive management program that emphasizes quality

 

C. Information gathering and reporting activities should be restricted to those activities that add value in excess of their cost.

 

D. Managerial accounting information is measured in economic, physical, and financial terms.

 

 

8.Which of the following costs would be classified as a direct cost for a company that produces motorcycles?   

A. Rent of manufacturing facility that produces motorcycles

 

B. Seats used in the motorcycles

 

C. Wages of motorcycle assembly workers

 

D. Both Seats used in the motorcycles and Wages of motorcycle assembly workers are correct.

 

 

9.Which of the following is a product cost for a construction company?   

A. Cost of transporting raw materials to the job site

 

B. Wages paid to the company’s payroll clerk

 

C. Rent of the company’s main office

 

D. All of these.

 

 

10.For a manufacturing company, product costs include all of the following except:   

A. indirect material costs.

 

B. warehousing costs.

 

C. direct labor costs.

 

D. All of these are product costs.