FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
The setting of standard is
a/ a worker decision
b/ a management decision
c/ a
d/ preferably set at the idea level of performance.
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- The two dimensions of managerial accounting are:a. decision-facilitating and decision-influencingb. decision-facilitating and financial-influencingc. decision-influencing and profit-maximizingd. cost-minimizing and profit-maximizinge. decision-influencing and cost-minimizingarrow_forwardManagerial decision making in accounting requires careful analysis of quantitative data on areas such as relevant and irrelevant costs. However, qualitative factors also play a role in making such decisions. For this forum, identify some qualitative factors that should be considered when making managerial decisions. Explain why and how these qualitative factors impact the managerial decision making process.arrow_forward. It is an important use of managerial accounting a. determine direct cost by adding direct materials b. understand customer orientation c. recast budgeted statements according to a situation d. change variables of risk internally and externallyarrow_forward
- Which of the following statements about responsibility accounting are correct? Select one: a. Responsibility accounting systems differ widely across organizations. b. The structure for accumulating cost information generally mirrors the structure for accumulating responsibility center information. c. Responsibility accounting is the primary responsibility of accounting staff.arrow_forwardWhich of the following would be least likely to be considered a managerial accounting report? Oa. statement of stockholders' equity Ob. report to analyze potential efficiencies and savings for the purchase of new production equipment Oc. statement of cost of goods manufactured Od. schedule of total manufacturing costs incurredarrow_forward
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