Accounting Which of the following are a manager’s three primary responsibilities
Accounting
Which of the following are a manager’s three primary responsibilities?
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Planning, Directing, Controlling |
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Budgeting, Planning, Controlling |
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Budgeting, Directing, Controlling |
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Budgeting, Planning, Directing |
All of the following are ethical principles identified in the IMA’s Statement of Ethical Professional Practice except:
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honesty. |
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teamwork. |
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objectivity. |
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responsibility. |
Which of the following companies would use a job costing system?
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Health care provider |
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Crayon manufacturing company |
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Potato chip manufacturing corporation |
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Spring water bottling company |
When selecting a manufacturing overhead allocation base, managers should select the:
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number of products produced. |
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activity-based products. |
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cost driver of those manufacturing overhead costs. |
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same number used in prior years. |
Conversion costs include:
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direct labor and manufacturing overhead. |
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manufacturing overhead only. |
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direct materials and direct labor. |
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direct materials and manufacturing overhead. |
If the sales price is $20 per unit, the variable cost is $12 per unit, total fixed costs are $12,000, and 15,000 units are produced, the contribution margin per unit is:
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20 |
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9 |
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12 |
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8 |
Which of the following budgets is the comprehensive planning document for the
entire organization?
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Sales budget |
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Capital expenditure budget |
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Master budget |
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Budgeting income statement |
Which of the following is a true statement regarding fixed overhead volume variance?
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If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable. |
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If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is unfavorable. |
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If production volume is greater than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable. |
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If production volume is greater than anticipated, then fixed overhead has been over allocated and the fixed overhead volume variance is unfavorable. |
Which of the following is a cash equivalent?
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Accounts receivable |
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Certificates of deposit that mature in less than three months |
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Certificates of deposit that mature in one year or less |
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Prepaid expenses |
All of the following are business reasons for adopting environmentally sustainable practices except:
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cost reduction. |
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competitive strategy. |
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stakeholder influence. |
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historical orientation of accounting. |
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Solution: Accounting Which of the following are a manager’s three primary responsibilities