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ACC - Problems of using investment centers include all of the problems

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Question;Question 1: Problems of using investment centers include all of the problems associated with profit centers plus all of the following EXCEPT;how to identify the assets used by each investment center.;how to assign the responsibility for jointly-used assets such as buildings.;how to determine the value of the assets used by each investment center.;what method to use to depreciate the assets.;Question 2: Financial budgets include the;capital spending plan.;production plan.;labor hiring and training plan.;expected cash flow statement.;Question 3: Talladega Industries, Inc., (TII) developed the following standard costs for direct material and direct labor for one of their major products, the 10-gallon plastic container.;Direct materials = 0.10 lbs (standard qty) $30 per lb (standard price)Direct Labor = 0.05 (standard qty) $15 (standard price);During August, TII produced and sold 10,000 containers using 980 pounds of direct materials at an average cost per pound of $32 and 500 direct labor hours at an average wage of $15.25 per hour.;August's direct material quantity variance was;$1,960 unfavorable.;$600 favorable.;$1,360 favorable.;None of these is correct.;Q4:________ is a form of earnings management in which expense recognition may be deferred to a future period with the goal of increasing net income in the current period.;Gain sharing;Smoothing;Data falsification;Gaming;Q5: In a decentralized organization;local-division managers have less control over their business segments.;there are few deviations from the standardized way of doing things.;front-line employees are not trained to respond to changes in the business environment.;decisions are made by the managers most familiar with the problems and opportunities.;q6: Financial analysts use the expected cash flow statement to do all of the following EXCEPT;plan for when excess cash is generated.;plan for short-term cash investments.;project cash shortages and plan a strategy to deal with the shortages.;project sales.;Q7: The two major categories of technical considerations for a management accounting and control system are;design and accuracy of information.;relevance of information and scope of system.;service and timely information.;development and flexibility.;Q8: Empowering employees in management accounting and control system design requires all of the following EXCEPT;allowing employees to participate in decision making.;having highly-motivated employees in every position.;ensuring that employees understand the information they are using and generating.;enabling employees' comprehension of performance measure computations.;Q9: Managers are often subject to intense pressures from their job circumstances to suspend their ethical judgment, which might include all of the choices below EXCEPT;requests to tailor information to favor particular individuals or groups.;pressures to ignore questionable or unethical practices.;solicitations for confidential information.;pleas to verify reports or test results.;Q10: In zero-based budgeting;the prior year's budgeted amounts or actual results are used to build the new operating budget.;the budget is prepared by the top managers.;managers must justify each item within the operating budget as if it were a new budget item.;the budget is updated every month.;Q11: The MOST likely result of a negotiated transfer price is that it;takes away the ultimate responsibility of the resulting transfer price from the two parties.;may reflect the relative negotiating skills of the two parties.;generally results in transferring more than the optimum number of units.;reflects purely economic considerations.

 

Paper#44144 | Written in 18-Jul-2015

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