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Stichworte: cost accounting
Name, define, and give examples of three different fallacies you have heard recently.
When a monopolist engages in perfect price discrimination, marginal cost becomes zero
Which is the first budget used to measure and monitor cost performance on the project?
Which of the following is not included in determining the cost of purchase of inventories?
Which of the following statements concerning the cost-benefit relationship is not true
What are the major differences between managerial accounting and financial accounting who are the intended users and what are their informational needs?
What are the major differences between financial accounting and managerial accounting?
The cost of materials used on a specific job is first captured on which source document
Which of the following is correct regarding the changing role of managerial accounting?
What is the quality of information that is capable of making a difference in a decision
What qualitative factors should consider before accepting or rejecting a special order?
What type of competitive advantage does a best cost provider strategy aim at achieving what does a company have to do to achieve this advantage?
In a lean manufacturing organization the emphasis is on cost, efficiency, and hierarchy
Which component of the marketing environment pertains to the income expenditures and resources that affect the cost of running a business or household?
Which professional organization represents management accountants in the United States?
The selling price of 12 eggs is equal to the cost price of 15 eggs find the gain per cent
How do budgeted cost rates motivates the support department manager to improve efficiency?
If the cash balance shown in the accounting records is less than the correct cash balance
Which of the following statements describes a problem in cost-based pricing for services?
When a firm sells a product in a foreign country below its domestic price or below its actual cost the practice is referred to as ?
When a resource such as space in the factory has no alternative use its opportunity cost is blank?
What is finding the most cost effective media to deliver the desired number and type of exposures to the target audience?
The present value of $200 to be received 10 years from today, assuming an opportunity cost of 10 is
What method of computing depreciation where it assumes that the annual cost of depreciation is a fixed percentage of the book value at the beginning of the year?
When the use of one of the factors of production is limited either in increasing cost or by quantity?
What are the three inventory accounts used to record manufacturing cost in what order are these accounts used?
Which Act requires creditors to communicate the cost of borrowing money in a common language so that consumers could figure out the charges?
The term ________ describes performance levels in the areas of quantity, quality, time, and cost.
Which method is used to estimate a cost based on historical data from a similar system or subsystem?
Is the difference between the cumulative earned value of the work performed and the cumulative actual cost?
What branch of accounting evaluate whether the financial statements are presented fairly and in compliance with accounting standards?
The cost of land typically includes the purchase price and all of the following costs except
What field of accounting would provide the most useful information to internal decision makers in regards to planning budgeting and forecasting?
What branch of accounting focuses on the producing accounting reports for internal users to support decision
Concept of social accounting, social audit and cash Based single entry system of accounting MCQ
Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?
Which principle guideline justifies a company violating an accounting principle because the amounts are not significant?
Which principle states revenue is recorded when earned regardless of when payment is received?
Which of the following states that a transaction is not recorded in the books of accounts unless?
What is the name of the accounting rule that records a revenue amount at the time of sale even if it is on account instead of cash?
What basic accounting concept is states that business and the owner are two separate distinct persons?
Which accounting concepts states that omitting or misstating this information could influence users of financial statements?
Which of the following states that transaction is not recorded in the books of accounts unless it is measurable in terms of money?
Which branch of accounting means examination of financial statements by a CPA for the purpose of expressing an opinion as to the fairness of the statements?
What is an added percentage or dollar amount added to the cost to determine its selling price quizlet?
What is an added percentage or dollar amount added to the cost to determine its selling price?
When task time cost and resource estimates are determined they are based on certain assumptions?
Why is past experience the best starting point for creating quality time and cost estimates quizlet?
If the cash balance shown on an entitys accounting records is less than the correct cash balance
Which of the following inventory method reports most closely the current cost of inventory?
Which inventory costing method most closely approximates current cost for cost of goods sold?
Which of the following should be taken into account when determining the cost of inventories?
What is the difference between the conventional retail inventory method and the cost method?
When applying lower of cost or market method to inventory valuation market is defined as current replacement cost?
The percentage markup on cost can be computed by dividing gross profit on selling price by 100
What is the effect of freight in on the cost retail ratio when using the conventional retail method?
What is the effect of net markups on the cost retail ratio when using the conventional retail method?
What is the expected result of increasing the markup on cost the selling price will increase the cost will increase the cost will decrease the selling price will decrease?
Which of the following statements correctly distinguish between financial and management accounting?
The cost of direct materials to make automobiles would include the cost of the windshields
Which of the following factors might an online closing cost calculator not take into account?
When rework occurs because of some internal failure the cost of the rework should be charged to?
Which cost accumulation procedure is best suited to similar products in the production process?
Which cost accumulation is most applicable in continuous mass production manufacturing environment?
What term is used to refer to the cost that are indirectly associated with the manufacture of the finished product?
Manufacturing cost per unit will be higher under variable costing than under absorption costing.
Why is the unit product cost different from the cost that would be incurred if another additional unit were produce?
Why is the unit product cost different from the cost that would be incurred if another additional unit were produced quizlet?
Cost of goods manufactured is to a manufacturing enterprise as is to a merchandising enterprise
In addition to cost, quality and access, which can be considered a building block of health systems?
Which model of helping explains prosocial behaviors as having an egoistic or selfish motivation quizlet?
Which of the following occurs when prices and the cost of living rise while money loses its purchasing power group of answer choices?
What are the two variances between the actual cost and the standard cost for direct labor who generally has control over the direct labor cost variances?
Which of the following is one of the three essential categories of skills that managers need quizlet?
Which formula is used to determine the cost benefit of a control such as antivirus software?
How much has health care in america gone up in cost per person, per year, between 1970 and 2013?
What are the key reasons for product cost differences between traditional costing systems and ABC systems?
What causes any differences between costs and profitability between traditional and ABC systems?
In the short run, which of the following is true of a firms average total cost of production
Which statement best describes how the International Ethics Standards Board for Accountants IESBA code affects the US accounting profession chegg?
Which statement best describes how the International Ethics Standards Board for Accountants Iesba code affects the US accounting profession quizlet?
To identify the best cost driver for a particular allocation consideration should be given to
The process of dividing a total cost into parts and assigning it to cost objects is known as:
Which branch of ethics is concerned with what a person is obligated or permitted to do in a specific situation or a particular domain of action?
Which of the following is an example of a variable cost for a retailer of electronic equipment?
How do you compete on a business level is defined by the variables value and cost together they define the ______?
Which of the following is a typical course of action for companies that pursue low-cost leadership?
What are the characteristics of a firm that is successfully pursuing a cost leadership strategy?
What is the term to describe when a nation or individual can produce a good or service at a lower opportunity cost than another nation or individual?
What is called to the ability of a country to produce a product not only in a greater quantity but also at a lower opportunity cost than another country?
When one nation can produce a product at lower cost relative to another nation, it is said to have
When one nation can produce a good or service at a lower cost than another the former is said to have an?
When a country can produce a good or service at a lower opportunity cost than its competitors can it has?
When one nation can produce a product at a lower cost relative to another nation it is said to have a in producing that product?
Which of the following ethical principles refers to an employees obligation to communicate information fairly and objectively?
Determine the missing amount for each separate situation involving work in process cost flows
How are average total cost and marginal cost related to marginal product and average product?
What would happen to the equilibrium price and quantity of lattes if the cost of producing?
Besides its high cost, what is the other possible problem that test marketing is likely to face?
Is a cost sharing program between the federal and state governments to provide health care to low income Americans?
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