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Cost Accounting Mid Term

In: Business and Management

Submitted By kushi1007
Words 1214
Pages 5
1. Question : (TCO A) Managerial accounting provides all of the following EXCEPT _____.

Student Answer: future-oriented information

a balance sheet prepared in accordance with GAAP

internal reports that don't follow GAAP

financial and nonfinancial reports on departments

Instructor Explanation: Chapter 1, page 4

Points Received: 6 of 6 Comments:

2. Question : (TCO A) Borders Books is an example of a

Student Answer: manufacturing-sector company.

merchandising-sector company.

service-sector company.

client-focused company.

Instructor Explanation: Chapter 1, page 36

Points Received: 6 of 6 Comments:

3. Question : (TCO A) Which of the following issues is NOT addressed by the Sarbanes-Oxley legislation?

Student Answer: Improving internal control

Corporate governance

Monitoring of managers

Disclosure practices of private companies

Instructor Explanation: Chapter 1, page 14

Points Received: 0 of 6 Comments:

4. Question : (TCO A) Within the relevant range for a car manufacturer, if there is a change in the level of cars produced, then

Student Answer: fixed and variable costs per unit will change.

fixed and variable costs per unit will remain the same.

fixed costs per unit will remain the same and variable costs per unit will change. fixed costs per unit will change and variable costs per unit will remain the same. Instructor Explanation: Chapter 2, pages 32-34, variable costs will change with changes in production volume

Points Received: 6 of 6 Comments:

5. Question : (TCO B) The break-even point is

Student Answer: total costs divided by variable costs per unit.

contribution margin per unit divided by revenue per unit....

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