Chapter 2 Review of the Accounting Process True / False Questions
ACCT 302: Managerial Accounting! A True And False Quiz!
fifteen Questions | Total Attempts: 329
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Are you looking for an ACCT 302 cost and management accounting quiz to refresh your understanding of these concepts? Managerial accounting for the longest time has been the norm of identifying, measuring, analyzing, interpreting, and communicating financial information to entity owners for the use in meeting a business's goals. Take this quiz and refresh your mind on what you learned!
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1.
The final step in the decision-making process is to make decisions past choosing amidst alternatives.
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A.
True
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B.
Imitation
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2.
One of the steps in planning is evaluating the performance and taking corrective measures.
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A.
True
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B.
False
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3.
A budget helps to command activities by adhering to the prescribed plan.
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A.
Truthful
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B.
False
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4.
To accept advantage of irresolute marketplace opportunities, the almanac upkeep should exist strictly enforced.
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A.
True
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B.
False
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5.
A upkeep is a qualitative expression of a plan.
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A.
True
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B.
False
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6.
The process of preparing a budget forces coordination and communication throughout the company.
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A.
True
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B.
Imitation
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7.
Linking rewards to performance helps in adept management functioning.
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A.
Truthful
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B.
False
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eight.
Control comprises taking actions that implement the planning decisions, evaluating by performance, and providing feedback and learning to aid future decision making.
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A.
True
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B.
Simulated
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ix.
A budget can but exist used every bit a planning tool.
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A.
True
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B.
False
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10.
Gathering information before making a decision leads to a wastage of time and is non helpful.
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A.
Truthful
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B.
False
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xi.
Evaluating performance helps in the hereafter controlling procedure.
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A.
Truthful
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B.
False
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12.
Bonuses given to employees based on performance is an example of extrinsic reward.
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A.
True
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B.
Faux
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xiii.
A upkeep is a benchmark against which actual functioning tin be compared.
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A.
True
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B.
Imitation
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xiv.
A performance written report compares actual performance to the corporeality budgeted.
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A.
True
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B.
Simulated
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15.
Management accounting is playing an increasingly important role by helping managers develop and implement strategy.
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A.
Truthful
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B.
Simulated
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Sample Question
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Sample Question
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Sample Question
The two bones types of price accounting systems are:
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