ACC 561 Final Exam

  This paperwork ACC 561 Final Exam C. DONE includes answers to these exercises: 1) Department performance reports can be used to help department heads determine  . 2) Performance reports _ . 3) According to the Financial Executives Institute, one function of controllership is  . 4) Which of the following is not a major factor causing changes in management accounting today? 5) Ethical accountants are important to society because  . 6) According to the Institute of Management Accountants' Statement of Ethical Professional Practice, the standard of competence includes: 7) Which scorecard function is associated with making non-routine decisions? 8) The primary users of management accounting information are  . 9)  is the field of accounting that develops information for external decision makers such as stockholders, suppliers, banks, and government regulatory agencies. 10) The  is also called the statement of financial position. 11) Etiwanda Company's accountant recorded a debit to Accounts Payable and a credit to Cash. This transaction will . 12) The  is not one of the three major financial statements. 13) The accounting convention of  guides the relative sophistication of the accounting system. 14) The accounting convention of  means selecting the method of measurement that yields the gloomiest immediate results. 15) The use of acquisition cost less depreciation in valuing an asset on the balance sheet is the logical result of the _ accounting convention. 16) The statement of cash flows is used for all of the following except _. 17) The Rebecca Company acquired merchandise inventory costing $10,000 on September 1. The company will not pay for the inventory until October 1. This transaction will affect the Rebecca Company by increasing the Merchandise Inventory account by $10,000 and 18) Output measures of both resources and activities are 19) Nonoperating items on the income statement . 20) Number of engineering hours is a likely cost driver for which value chain function? 21) Which value chain function would include advertising costs? 22) Walnut Corporation sells desks at $480 per desk. The costs associated with each desk are as follows: 23) If the sales price per unit is $100, the unit variable cost is $75, and total fixed costs are $150,000, then the break even volume in dollar sales rounded to the nearest whole dollar is 24) Hug Me Company produces dolls. Each doll sells for $20.00. Variable costs per unit total $14.00, of which $6.25 is for direct materials and $5.25 is for direct labor. If total fixed costs are $435,000, then the break even volume in dollars is  . 25) The  method of measuring cost functions is the least reliable. 26)  of approximating cost functions does not involve the analysis of past costs. 27) Managers should apply two principles to obtain accurate and useful cost functions. These principles are . 28) The change from traditional costing to activity-based costing may reveal that  . 29)  need cost accounting systems. 30) A sales forecast is . 31)  is an example of the external financial reporting purpose of the cost management systems 32)  models are mathematical models of the master budget that can react to any set of assumption about sales, costs, and product mix. 33) A  gives the expected sales under a given set of conditions. 34) A  gives the expected sales under a given set of conditions. 35) Important factors considered by sales forecasters include all of the following except  . 36) The master budget includ

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