Managerial Accounting

Card Set Information

Author:
Anonymous
ID:
152012
Filename:
Managerial Accounting
Updated:
2012-05-03 20:33:18
Tags:
accounting
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Description:
chapter 15 & 16
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  1. operating budgets are plans used in daily operations.
    T
  2. Managers do not need to know why a budget is being prepared.
    F
  3. The budgeting function begins with the preparation of the direct materials purchases budget...
    F
  4. They key factor to remember is that the sales unit forecast provides the catalyst for all the ... budgets
    t
  5. Purchases of buildings and equipment are formally planned in the
    capital expenditures budget
  6. Which of the following is not a guideline for budget preparation
    include financial data only
  7. Which of the following would most likely be considered a short term goal?
    a unit sales forecast
  8. which of the budgets must managers prepare before they can prepare a direct materials purchases budget?
    production budget
  9. which type of budgeting utilizes employees at all levels of the company?
    participative budgeting
  10. an organization chart assists in mangagement control
    T
  11. A report for a responsibility center includes cost and revenues that are both controllable and uncontrollable by a manager.
    F
  12. performance reports allow comparisons between actual performance and budget expectations.
    T
  13. If a performance report contains items that are out of a manager's control the entire responsibility accounting system can be called into question
    T
  14. When calculating ROI assets invested represent the average of the beginning and ending asset balances for a given period.
    T
  15. How many different types of responsibility centers exist?
    5
  16. A good example of a profit center would be
    a local home depot store
  17. Which of the following represents the number of sales dollars generated by each dollar invested in assets?
    asset turnover
  18. A manager can improve ROI by doing which of the following?
    all of these choices
  19. Which of the following is a type of incentive compensation?
    profit-sharing plans

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