ACCT Exam 3 LSU latest Update 2026/2027

ACCT Exam 3 LSU
All of the following are distinguishing features of managerial accounting except
a- to provide special-purpose information.
b- internal users.
c- independent audits.
d- reports pertaining to subunits of the entity.
The process of keeping the company's activities on track is
a- controlling.
b- planning.
c- directing.
d- evaluating.
Which of the following statements is true about managerial accounting?
a- It is primarily for internal users such as stockholders and managers.
b- It pertains to a business as a whole.
c- It must be prepared using generally accepting accounting principles.
d- It provides more detailed information than financial accounting does.
The management of an organization performs several broad functions. They are
a- planning, manufacturing, and controlling.
b- planning, directing, and controlling.
c- planning, directing, and selling.
d- directing, manufacturing, and controlling.
Which of the following costs are classified as a period cost?
a- Wages paid to a factory custodian.
b- Wages paid to an assembly worker.
c- Wages paid to a cost accountant department supervisor.
d- Wages paid to a production department supervisor.
On average, studies have shown that the smallest component of total manufacturing
cost is
a- direct materials.
b- manufacturing overhead.
c- factory overhead.
d- direct labor.