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general business data bank

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Question;81.;Under variable costing, fixed manufacturing overhead costs would be classified;as;A.;Period costs.;B.;Product costs.;C.;Selling costs.;D.;Inventory costs.;82.;Under full costing, fixed manufacturing overhead costs would be classified as;A.;Period costs.;B.;Product costs.;C.;Selling costs.;D.;Inventory costs.;83.;Under the;principal-agent model of contract relationships, situations such as machine;breakdowns or a decrease in market demand would be classified under;A.;Lack of observability.;B.;Lack of responsibility.;C.;Uncertainty.;D.;Decentralization.;84. In;a formal management control system, top management sets expectations for;desired manager performance. Which of the following is not one of the;areas in which a formal individual management control system would be used?;A.;Hiring practices.;B.;Promotion policies.;C.;Operations.;D.;Sales.;E.;Organizational culture.;85. The;type of strategic business unit (SBU) where the SBU focuses on the selling;function of a specific product line or by a geographical location is referred;to as a(n);A.;Profit center.;B.;Cost center.;C.;Revenue center.;D.;Investment center.;E.;All of the above.;86.;SBU is the acronym for;A.;Small Business Unit.;B.;Sustainable Business;Unit.;C.;Standard Business Unit.;D.;Strategic Business Unit.;87. Quick;Technology Company is a supplier of high-end research equipment for the;pharmaceutical industry. Quick currently has a variety of different firms;producing computer chips for increased memory and improved processing speeds;which are installed in Quick's equipment. In this case, having another firm;provide supplies for Quick's equipment is an example of;A.;Strategic positioning.;B.;Opportunity costing.;C.;Profitability;maximization.;D.;Outsourcing.;E.;Value chain analysis.;88.;Which of the following is not a criterion for choosing a cost allocation;method?;A.;Provide an incentive for managers to;make decisions consistent with top management's goals.;B.;Provide an opportunity;for managers to make decisions consistent with the manager's goals.;C.;Provide a basis for a;fair evaluation of manager's performance.;D.;Motivate managers to;exert a high level of effort.;89.;Which one of the following is not an order-filling cost?;A.;Freight.;B.;Warehousing.;C.;Inspection.;D.;Collections.;90.;Controllable fixed costs;A.;Are those costs that the profit center;manager can influence in approximately a year or less.;B.;Are those costs that the;profit center manager can influence in approximately a year or more.;C.;Include variable costs.;D.;Have no effect on;operating income.;91.;Using;the balanced scorecard to describe the firm's strategy in detail through the;use of a cause-and-effect diagram which is also known as;a(n);A.;Status Diagram.;B.;Strategy Map.;C.;Performance Flowchart.;D.;Organizational Diagram.;E.;Operational;Work-through.;92.;The cost method that is input-oriented and considers costs largely;uncontrollable at the planning stage is called the;A.;Engineered-cost method.;B.;ABC costing.;C.;Discretionary-cost;method.;D.;Job costing.;E.;Standard costing.;93.;Costs such as depreciation, taxes and insurance and usually extending beyond;one year are considered;A.;Controllable fixed costs.;B.;Noncontrollable fixed;costs.;C.;Noncontrollable variable;costs.;D.;Controllable variable;costs.;E.;Controllable margin;costs.;94.;Which of the following is not a revenue driver factor which affects;sales volume for a manufacturing firm?;A.;Price changes.;B.;Customer service.;C.;Delivery dates.;D.;Discounts.;E.;Productivity.;95.;Which of the following is an argument against the use of variable costing?;A.;Full costing overstates the balance;sheet value of inventories.;B.;Variable factory;overhead is a period cost.;C.;Fixed factory overhead;is difficult to allocate properly.;D.;Fixed factory overhead;is necessary for the production of a product.;96. Table;Inc. planned and manufactured 250,000 units of its single product in 2010, its;first year of operations. Variable manufacturing costs were $30 per unit of;production. Planned and actual fixed manufacturing costs were $500,000.;Marketing and administrative costs (all fixed) were $300,000 in 2010. Table;Inc. sold 200,000 units of product in 2010 at $50 per unit. Sales for 2010 are;calculated to be;A.;$1,000,000.;B.;$5,000,000.;C.;$7,500,000.;D.;$10,000,000.;E.;$12,500,000.;97. Table;Inc. planned and manufactured 250,000 units of its single product in 2010, its;first year of operations. Variable manufacturing costs were $30 per unit of;production. Planned and actual fixed manufacturing costs were $500,000.;Marketing and administrative costs (all fixed) were $300,000 in 2010. Table;Inc. sold 200,000 units of product in 2010 at $50 per unit. Full costing;operating income for 2010 is calculated to be;A.;$1,000,000.;B.;$3,200,000.;C.;$3,300,000.;D.;$4,200,000.;E.;$4,300,000.;98. Table;Inc. planned and manufactured 250,000 units of its single product in 2010, its;first year of operations. Variable manufacturing costs were $30 per unit of;production. Planned and actual fixed manufacturing costs were $500,000.;Marketing and administrative costs (all fixed) were $300,000 in 2010. Table;Inc. sold 200,000 units of product in 2010 at $50 per unit. Variable costing;operating income for 2010 is calculated to be;A.;$1,000,000.;B.;$3,200,000.;C.;$3,300,000.;D.;$4,200,000.;E.;$4,300,000.;99.;Strategic performance measurement is a(n);A.;Accounting system used by top management;for the evaluation of SBU managers.;B.;System of shared;responsibility.;C.;Accounting system for;determining strategy.;D.;System to design and;implement the balanced scorecard.;100.;Managers who are risk averse;A.;Seek to accept options with low risk and;would choose an option with lower expected value if it had more risk.;B.;Seek to avoid options;with low risk and would choose an option with higher expected value if it had;more risk.;C.;Seek to avoid options with high risk and;would choose an option with lower expected value if it had less risk.;D.;Seek to accept options;with high risk and would choose an option with lower expected value if it had;less risk.;E.;Seek to accept options;with low risk and would choose an option with higher expected value if it had;more risk.;101.;Managers who are risk prone;A.;Seek risky projects that promise some;chance of a low benefit.;B.;Seek risky projects that;promise some chance of a high benefit, although the projects may have a risk of;low benefit.;C.;Seek risky projects.;D.;Seek high risk projects;that promise some chance of a high benefit, although the projects may have a;very significant risk of no benefit.;102.;Risk plays a critical;role in the decision making process. However, numerous studies have shown that;most executives, managers and individuals are considered to be;A.;Risk neutral.;B.;Risk prone.;C.;Risk averse.;D.;Risk seekers.;103.;A value stream income statement is best associated with;A.;Value chain analysis.;B.;Activity-based costing.;C.;The theory of;constraints.;D.;Lean manufacturing.;104.;A value stream is;A.;A set of value-adding activities.;B.;A sequence of efficient;processes.;C.;A group of related;products.;D.;A strategy map with a;focus on value-adding activities.;105. Reasons;for failure to implement the balanced scorecard effectively include all but;which of the following;A.;Failure to link nonfinancial measures to;strategy.;B.;Failure to validate the;assumptions in the strategy map.;C.;Setting the wrong;performance targets.;D.;Failure to include;financial reporting requirements to the SEC.;E.;Measuring the results;incorrectly.;106. The;sales life cycle has three phases: early, growth, and maturity. The appropriate;performance measures for the growth phase include;A.;Profitability, market penetration.;B.;Profitability, strategy.;C.;Revenue, strategy.;D.;Profitability, asset;management.

 

Paper#45045 | Written in 18-Jul-2015

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