Test Bank For Managerial Accounting Creating Value in a Dynamic Business Environment 11th edition By Hilton
Chapter 1
The Changing Role of Managerial Accounting in a Dynamic Business Environment
True / False Questions
- Two things that all organizations have in common are a set of goals and information needed by managers.
TRUE
AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01
Feedback True: Correct! All organizations have a set of goals and managers need information to accomplish these goals.
Feedback False: It is true that all organizations have a set of goals and managers need information to accomplish these goals.
- The role of managerial accounting in organizations is the same as it has been over many years.
FALSE
AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01
Feedback True: The role of managerial accounting has been changing in recent years.
Feedback False: Correct! The role of managerial accounting has been changing in recent years.
- Controlling involves the coordination of daily business functions within an organization.
FALSE
AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02
Feedback True: This is actually the definition for directing operational activities, which is a managerial activity.
Feedback False: Correct! This is actually the definition for directing operational activities, which is a managerial activity.
- Decision making requires managers to choose among the available alternatives.
TRUE
AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02
Feedback True: Correct! This is the correct definition for decision making.
Feedback False: This is the correct definition for decision making.
- The balanced scorecard is an important managerial accounting tool for short-run competitiveness.
FALSE
AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03
Feedback True: The balanced scorecard is an important managerial accounting tool for long-run competitiveness.
Feedback False: Correct! The balanced scorecard is an important managerial accounting tool for long-run competitiveness.
- In most situations, managerial accounting reports solve decision problems.
FALSE
AACSB: Reflective Thinking
AICPA: BB Critical Thinking
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03
Feedback True: Managerial accounting reports rarely solve a decision problem; instead they direct attention to issues.
Feedback False: Correct! Managerial accounting reports rarely solve a decision problem; instead they direct attention to issues.
- Middle-level managers would likely be considered internal users of accounting information rather than external users.
TRUE
AACSB: Reflective Thinking
AICPA BB: Resource Management
AICPA FN: Reporting
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03
Feedback True: Correct! Middle-level managers are generally considered internal users of accounting information.
Feedback False: Middle-level managers are generally considered internal users of accounting information.
- Measuring the performance of managers and subunits is not an objective of managerial accounting.
FALSE
AACSB: Analytic
AICPA BB: Critical Thinking
AICPA FN: Research
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04
Feedback True: In fact, measuring the performance of managers and subunits is an objective of managerial accounting..
Feedback False: Correct! In fact, measuring the performance of managers and subunits is an objective of managerial accounting.
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