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Test Bank For Financial & Managerial Accounting 16 th Edition By Carl Warren, Jefferson Jones, William Tayler (All Chapters 1-28, 100% Original Verified, A+ Grade) All Chapters Arranged
Reverse: 28-1
This is The Original Test Bank For 16 th Edition, All other Files in The Market are Fake/Old/Wrong Edition. 1 / 4
True / False 1. James, an accountant at Forta Company, is preparing a report showing the production shift data for the previous day’s production. This report will be shared with the production manager, Julia. This is an example of the role of managerial accounting at work.a. True b. False
ANSWER: True
2. James, an accountant at Forta Company, is preparing an income statement at the end of the year. It will be included in the company’s annual report to be released to the public. This is an example of the managerial accounting function at Forta.a. True b. False
ANSWER: False
3. Evaluating employee performance and making strategic decisions are two examples of how managerial accounting information is used.a. True b. False
ANSWER: True
4. Performance measurement systems are used to assess how well a company is performing relative to the goals the FASB sets for the company.a. True b. False
ANSWER: False
5. Performance measurement systems are used to prepare tax information needed by the IRS to assess a company’s taxable income.a. True b. False
ANSWER: False
6. Performance measurement systems are used to assess how well a company is meeting its own goals and objectives.a. True b. False ANSWER: True CopyrightCengageLearning.Poweredby Cognero.Page 1Name: Class: Date: Chapter 28: The Balanced Scorecard and Corporate Social Responsibility 2 / 4
7. Performance measurement systems use externally imposed benchmarks of the competitive landscape to assess internal performance.a. True b. False
ANSWER: False
8. Performance measurement systems use measures of current performance to assess how well a company is performing toward meeting its goals and objectives.a. True b. False
ANSWER: True
9. It is important to gather as many accounting metrics as possible because they have intrinsic value and do not need a context in which to be understood.a. True b. False
ANSWER: False
10. It is important to gather meaningful accounting metrics to assess how well employees or units within a company meet the company’s goals and objectives.a. True b. False
ANSWER: True
11. Operating income and cash flow are examples of metrics used to assess quality control.a. True b. False
ANSWER: False
12. Operating income and cash flow are examples of metrics used to assess a company’s financial condition.a. True b. False
ANSWER: True
13. Accounting metrics, such as operating income, make business decision-making processes more complex.a. True b. False ANSWER: False CopyrightCengageLearning.Poweredby Cognero.Page 2Name: Class: Date: Chapter 28: The Balanced Scorecard and Corporate Social Responsibility 3 / 4
14. Accounting metrics, such as cash flow, are often used to simplify the business decision-making process.a. True b. False
ANSWER: True
15. Materials price variances are examples of metrics used for measuring a sales department’s performance.a. True b. False
ANSWER: False
16. Materials price variances are examples of metrics used for measuring a purchasing department’s performance.a. True b. False
ANSWER: True
17. Strategic performance measurement systems define and link strategic objectives to the performance metrics of a company.a. True b. False
ANSWER: True
18. Strategic performance measurement systems define and link strategic objectives to the external financial reports of a company.a. True b. False
ANSWER: False
19. Strategic performance measurement systems are commonly used by large companies around the world.a. True b. False
ANSWER: True
20. The balanced scorecard is a marginally effective strategic performance management system.a. True b. False ANSWER: False CopyrightCengageLearning.Poweredby Cognero.Page 3Name: Class: Date: Chapter 28: The Balanced Scorecard and Corporate Social Responsibility
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