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1、Chapter 13Chapter 1Introduction to Cost AccountingMULTIPLE CHOICE1.In comparing financial and management accounting, which of the following more accurately describes management accounting information?a.historical, precise, usefulb.required, estimated, internalc.budgeted, informative, parable, verifi
2、able, monetaryANS:CPTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting2.Management and financial accounting are used for which of the following purposes?Management accountingFinancial accountinga.internal externalb.external internalc.internal i
3、nternald.external externalANS:APTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting3.One major difference between financial and management accounting is thata.financial accounting reports are prepared primarily for users external to the company.
4、b.management accounting is not under the jurisdiction of the Securities and Exchange Commission.c.government regulations do not apply to management accounting.d.all of the above are true.ANS:DPTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting4
5、.Which of the following statements about management or financial accounting is false?a.Financial accounting must follow GAAP.b.Management accounting is not subject to regulatory reporting standards.c.Both management and financial accounting are subject to mandatory recordkeeping requirements.d.Manag
6、ement accounting should be flexible.ANS:CPTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting5.Management accountinga.is more concerned with the future than is financial accounting.b.is less concerned with segments of a company than is financial
7、 accounting.c.is more constrained by rules and regulations than is financial accounting.d.all of the above are true.ANS:APTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting6.Modern management accounting can be characterized by plexity.d.precisi
8、on.ANS:APTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting7.Which of the following is not a valid method for determining product cost?a.arbitrary assignmentb.direct measurementc.systematic allocationd.cost-benefit measurementANS:DPTS:1DIF:Mode
9、rateOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting8.Broadly speaking, cost accounting can be defined as a(n)a.external reporting system that is based on activity-based costs.b.system used for providing the government and creditors with information abou
10、t a companys internal operations.c.internal reporting system that provides product costing and other information used by managers in performing their functions.d.internal reporting system needed by manufacturers to be in compliance with Cost Accounting Standards Board pronouncements.ANS:CPTS:1DIF:Ea
11、syOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting9.Cost accounting is directed toward the needs ofa.regulatory agencies.b.external users.c.internal users.d.stockholders.ANS:CPTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competen
12、cies: Measurement, Reporting10.Cost accounting is necessitated bya.the high degree of conversion found in certain businesses.b.external reporting requirements for manufacturing companies.c.managements need to be aware of all production activities.d.managements need for information to be used for pla
13、nning and controlling activities.ANS:APTS:1DIF:ModerateOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting11.Financial accountinga.is primarily concerned with internal reporting.b.is more concerned with verifiable, historical information than is cost accoun
14、ting.c.focuses on the parts of the organization rather than the whole.d.is specifically directed at management decision-making needs.ANS:BPTS:1DIF:EasyOBJ:1-1NAT:AACSB: Reflective ThinkingLOC:AICPA Functional Competencies: Measurement, Reporting12.Financial accounting and cost accounting are both highly concerned witha.preparing budgets.b.determining product cost.c.providing managers with information necessary for control purposes.d.determining performance standards
