LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

Name: LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01
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Chapter 2

It is beneficial to assign indirect costs to cost objects.
True
False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: - Analytic STATE STANDARDS: United States - AK - ACBSP: APC-27 - Managerial Accounting Features/Costs

United States - AK - AICPA: FN-Measurement -

AICPA: FN-Measurement

United States - AK - IMA: - Cost Management

KEYWORDS: Bloom's: Understanding

NOTES: 1 min.

DATE CREATED: 9/20/2016 10:38 AM

DATE MODIFIED: 10/20/2016 3:55 AM

QUESTION ID: JFND-GO3A-EFDD-OP1F

QUESTION GLOBAL ID: GCID-E7BW-1TBP-CT1S-N3UN-GE5U-KQDR-GEAN-4PMG-GOH1-4CUB-GE4N-

4AMN-CPTN-4ATO-CO5U-YP3O-GFDI-G WN8-EPRW-EMMB-GRHU-N3DB-CPTD-

QPDD-8YSS-RCMR-CRSS-ECBA-GOSU-G3DR-GRSU-QAMB-G31D-QQJO-E7JI-YT4D-

JFNN-4OTI-GO4W-NQNBEE

Price must be greater than cost in order for the firm to generate revenue.
True
False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: - Analytic STATE STANDARDS: United States - AK - ACBSP: - APC-25-Managerial Characteristics/Terminology

United States - AK - AICPA: - FN-Reporting

United States - AK - IMA: - Cost Management

KEYWORDS: Bloom's: Understanding

NOTES: 1 min.

DATE CREATED: 9/20/2016 10:38 AM

DATE MODIFIED: 9/20/2016 10:38 AM

QUESTION ID: JFND-GO3A-EFDD-OP1R

QUESTION GLOBAL ID: GCID-E7BW-1TBP-CT1S-N3UN-GE5U-KQDR-GEAN-4PMG-GOH1-4CUB-GE4N-

4AMN-CPTN-4ATO-CO5U-YP3O-GFDI-GWN 8-EPRW-EMJZ-8B1G-C3B1-GE5S-RCUR-

8RSU-ECUF-CRSS-EPT1-GOSS-K3TS-CWSU-GPJ1-CPTU-K3JZ-E7JI-YT4D-JFNN-

Managerial Accounting The Cornerstone of Business Decision Making 7th Edition Mowen Test Bank Visit TestBankDeal.com to get complete for all chapters

Chapter 2

4OTI-GO4W-NQNBEE

Accumulating costs is the way that costs are measured and recorded.
True
False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - ACBSP: APC-27 - Managerial Accounting Features/Costs

United States - AK - AICPA: FN-Measurement -

AICPA: FN-Measurement

United States - AK - IMA: Cost Management

KEYWORDS: Bloom's: Remembering

NOTES: 1 min.

DATE CREATED: 9/20/2016 10:38 AM

DATE MODIFIED: 9/20/2016 10:38 AM

QUESTION ID: JFND-GO3A-EFDD-OP1D

QUESTION GLOBAL ID: GCID-E7BW-1TBP-CT1S-N3UN-GE5U-KQDR-GEAN-4PMG-GOH1-4CUB-GE4N-

4AMN-CPTN-4ATO-CO5U-YP3O-GFDI-GWN8-EPRW-EMJ3-GE4S-NAUD-GOAD-

NCJZ-GYSS-GPUF-CRSU-NPDD-GOSU-KCUN-COSU-GA5R-8B1D-CQMB-E7JI-YT4D-

JFNN-4OTI-GO4W-NQNBEE

Assigning costs involves the way that a cost is linked to some cost object.
True
False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - ACBSP: APC-27 - Managerial Accounting Features/Costs

United States - AK - AICPA: FN-Measurement -

AICPA: FN-Measurement

United States - AK - IMA: Cost Management

KEYWORDS: Bloom's: Remembering

NOTES: 1 min.

DATE CREATED: 9/20/2016 10:38 AM

DATE MODIFIED: 9/20/2016 10:38 AM

Chapter 2

QUESTION ID: JFND-GO3A-EFDD-OPTU

QUESTION GLOBAL ID: GCID-E7BW-1TBP-CT1S-N3UN-GE5U-KQDR-GEAN-4PMG-GOH1-4CUB-GE4N-

4AMN-CPTN-4ATO-CO5U-YP3O-GFDI-G WN8-EPRW-EMMN-GPTD-QPBZ-8R5D-

EPJW-GESS-C3DF-8RSU-1CTO-GOSU-ECBO-COSU-NPBW-GYHD-OQMN-E7JI-YT4D-

JFNN-4OTI-GO4W-NQNBEE

Assigning costs tells the accountant who spent the money.
True
False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - ACBSP: APC-27 - Managerial Accounting Features/Costs

United States - AK - AICPA: FN-Measurement -

AICPA: FN-Measurement

United States - AK - IMA: Cost Management

KEYWORDS: Bloom's: Understanding

NOTES: 1 min.

DATE CREATED: 9/20/2016 10:38 AM

DATE MODIFIED: 9/20/2016 10:38 AM

QUESTION ID: JFND-GO3A-EFDD-OPT1

QUESTION GLOBAL ID: GCID-E7BW-1TBP-CT1S-N3UN-GE5U-KQDR-GEAN-4PMG-GOH1-4CUB-GE4N-

4AMN-CPTN-4ATO-CO5U-YP3O-GFDI-GWN8-EPRW-EMJU-GJUG-KC3T-GHHD-

QA3Z-GCSU-CPB1-8YSS-NCMR-GOSU-GQBW-GHSU-G3BS-CA5D-CCJW-E7JI-YT4D-

JFNN-4OTI-GO4W-NQNBEE

A cost object is any item such as products, customers, departments, regions, and so on, for which costs are measured

and assigned.

True
False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - ACBSP: APC-27 - Managerial Accounting Features/Costs

United States - AK - AICPA: FN-Measurement -

AICPA: FN-Measurement

United States - AK - IMA: Cost Management

Chapter 2

KEYWORDS: Bloom's: Remembering

NOTES: 1 min.

DATE CREATED: 9/20/2016 10:38 AM

DATE MODIFIED: 9/20/2016 10:38 AM

QUESTION ID: JFND-GO3A-EFDD-OPTT

QUESTION GLOBAL ID: GCID-E7BW-1TBP-CT1S-N3UN-GE5U-KQDR-GEAN-4PMG-GOH1-4CUB-GE4N-

4AMN-CPTN-4ATO-CO5U-YP3O-GFDI-G WN8-EPRW-EMMF-GY3S-NCJT-CITS-

GQMF-8YSU-OCUF-8YSS-GAMB-GOSU-OQMR-GCSS-KPB1-CWAG-KPDB-E7JI-

YT4D-JFNN-4OTI-GO4W-NQNBEE

Costs are directly, not indirectly, associated with cost objects.
True
False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - ACBSP: APC-27 - Managerial Accounting Features/Costs

United States - AK - AICPA: FN-Measurement -

AICPA: FN-Measurement

United States - AK - IMA: Cost Management

KEYWORDS: Bloom's: Understanding

NOTES: 1 min.

DATE CREATED: 9/20/2016 10:38 AM

DATE MODIFIED: 9/20/2016 10:38 AM

QUESTION ID: JFND-GO3A-EFDD-OPTO

QUESTION GLOBAL ID: GCID-E7BW-1TBP-CT1S-N3UN-GE5U-KQDR-GEAN-4PMG-GOH1-4CUB-GE4N-

4AMN-CPTN-4ATO-CO5U-YP3O-GFDI-GWN8-EPRW-EMJO-8BTU-1QDR-GH3U-

G3BO-GESS-NAMN-CESU-1C3U-GOSU-EP3 T-8RSU-NCUR-GPUD-RPJT-E7JI-YT4D-

JFNN-4OTI-GO4W-NQNBEE

Direct costs are those costs that cannot be easily and accurately traced to a cost object.
True
False

ANSWER: False

RATIONALE: Direct costs are those costs that can be easily and accurately traced to a cost object.

POINTS: 1

DIFFICULTY: Easy

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: ACCT.MOWE.18.2-1 - LO: 02-01

NATIONAL STANDARDS: United States - BUSPROG: Analytic

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Added: Dec 31, 2025

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Chapter 2 Copyright Cengage Learning. Powered by Cognero. Page 1 1. It is beneficial to assign indirect costs to cost objects. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPE...

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