Test Bank all Chapters,

Managerial Accounting Creating Value in a Dynamic Business Environment, 13e Ronald Hilton, David Platt (Test Bank all Chapters, Answer at the end of each Chapter)

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Version 1 1 Chapter 1

1) Two things that all organizations have in common are a set of goals and information needed by managers.⊚ true ⊚ false

2) The role of managerial accounting in organizations is the same as it has been over many years.⊚ true ⊚ false

3) Controlling involves the coordination of daily business functions within an organization.⊚ true ⊚ false

4) Decision making requires managers to choose among the available alternatives.⊚ true ⊚ false

5) Legitimate ethical issues rarely impact the managerial accountant.⊚ true ⊚ false

6) In most situations, managerial accounting reports solve decision problems.⊚ true ⊚ false

7) The process of making sense of big data is known as data practice.⊚ true ⊚ false

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Version 1 2 8) Measuring the performance of managers and subunits is not an objective of managerial accounting.⊚ true ⊚ false

9) The nature of managerial accounting reports is to focus on the enterprise in its entirety.⊚ true ⊚ false

10) Line positions are indirectly involved in operational activities.⊚ true ⊚ false

11) The position of chief financial officer (CFO) is typically a staff position.⊚ true ⊚ false

12) If a company has poor data governance practices, managers would have to worry that the managerial accounting data they receive is not what they need for their decisions, or that it would arrive too late or be inaccurate.⊚ true ⊚ false

13) All companies define the value chain in the same way.⊚ true ⊚ false

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Version 1 3 14) The value chain is a managerial accounting tool that primarily performs which of the

following:

• assists with asset-liability management.
• assists with creation of internal controls.
• assists in the valuation of assets.
• assists in compliance procedures.
• none of the answers are correct.

15) Which of the following typically is responsible for raising capital and safeguarding the organization’s assets.

• Treasurer.
• Internal Auditor.
• Administrative Assistant.
• Board of Directors.
• External Auditor.

16) The upper limit on the production of goods and services if everything works perfectly is

known as:

• eutopia capacity.
• relevant capacity.
• practical capacity.
• theoretical capacity.
• none of the answers are correct.

17) Which costs are the costs of activities that can be eliminated with no deterioration of product quality, performance, or perceived value?

• Temporary
• Non-value added
• Permanent
• Cyclical
• Value Added

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