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Managerial Accounting The Cornerstone of Business Decision Making 7th Edition by Maryanne M Mowen Don R Hansen Dan L Heitger-Test Bank

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  • ISBN-10 ‏ : ‎ 1337116009
  • ISBN-13 ‏ : ‎ 978-1337116008

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SKU:tb1002441

Managerial Accounting The Cornerstone of Business Decision Making 7th Edition by Maryanne M Mowen Don R Hansen Dan L Heitger-Test Bank

Chapter 09

True / False

1. A strategic plan identifies strategies for future activities and operations, generally covering at least five years.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Remembering
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO4R
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMJZ-CWAD-GPJZ-GITS-ECTU-CESU-1PB1-CESU-E3MF-GOSS-E3T3-GRSS-RCMG-CR4D-KCTO-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

2. Budgets are financial plans for the future.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Remembering
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO4D
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMJU-GJ1G-KQBS-GW3U-YQB1-GWSS-N3BZ-CRSU-YC5G-GOSU-13DB-CASS-EP3S-GI1D-R3J3-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

3. The master budget is composed of operating budgets and financial budgets.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Remembering
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO3U
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMMN-GH5S-NAJT-GH4U-OAJA-CCSS-C3T3-CESS-EQDB-GOSS-N3JW-GRSU-YQMD-CT1S-KP5F-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

4. Control is achieved by comparing actual results with budgeted results on a periodic basis.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Remembering
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO31
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMMF-COAD-1QDD-CE3D-CQMN-CCSU-RAJI-CESU-EC3S-GOSS-RAJS-CRSU-EC3T-GE5D-ECDF-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

5. Planning is looking ahead to see what actions should be taken to realize particular goals.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Understanding
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO3T
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMMD-CJ1G-ECTO-GBTG-EP5G-CRSU-RPBZ-CESU-OP3A-GOSU-E3TA-GCSS-EA3A-CO4U-1CMB-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

6. Budgets identify objectives and the actions needed to achieve them because they are foresighted financial plans.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Understanding
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO3O
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMJ1-CJTS-CC3W-CCHG-NA5F-GWSU-K3JW-8RSU-GAT3-GOSU-OC3I-GESS-C3TI-GO4G-KAUD-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

7. A firm should develop a strategic plan before preparing a budget.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Understanding
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO3Z
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMJT-COAU-K3UR-GO5G-R3TZ-GRSU-GQBA-CESU-ECTZ-GOSU-GQBO-GCSS-N3MB-GI1U-CPBS-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

8. A firm acquires information that can be used to improve decision making from a budgetary system.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.MOWE.18.9-1 – LO: 09-01
NATIONAL STANDARDS: United States – BUSPROG: Analytic
STATE STANDARDS: United States – AK – ACBSP: APC-36 – Budgeting and Responsibility
United States – AK – AICPA: FN-Decision Modeling
United States – AK – IMA: Budget Preparation
KEYWORDS: Bloom’s: Understanding
NOTES: 1 min.
DATE CREATED: 9/20/2016 10:53 AM
DATE MODIFIED: 9/20/2016 10:53 AM
QUESTION ID: JFND-GO3A-EFDR-EO3S
QUESTION GLOBAL ID: GCID-E7BW-1TBP-8Y3U-EATI-CEAD-E3JT-GCAN-4A5R-CFTN-4CJU-GY4N-4AJ1-GE4N-4QMF-GR4G-KA3U-CPDI-GWN8-EPRW-EMJZ-CTOS-ECTS-GBOU-Y3DF-GYSU-C3DN-8RSS-G3B3-GOSU-1A33-GHSU-RA3S-CO5U-GCJU-E7JI-YT4D-JFNN-4OTI-GO4W-NQNBEE

 

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