ACC 350 Midterm Exam – TestBank

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ACC 350 Midterm Exam (More than 1000 Questions and Answers

Cost Accounting, 15e (Horngren/Datar/Rajan)

Chapter 1   The Manager and Management Accounting

Chapter-2   An Introduction to Cost Terms and Purposes

Chapter 3   Cost-Volume-Profit Analysis

Chapter-4   Job Costing

  1. Management accounting ________.
  2. Managers use management accounting information to ________.
  3. Financial accounting ________.
  4. The primary user of financial accounting information is a ________.
  5. The primary user of management accounting information is a(n) ________.
  6. Financial accounting provides the primary source of information for ________.
  7. Which of the following is true of management accounting information?
  8. Which of the following groups would be least likely to receive detailed management accounting reports?
  9. Management accounting information typically includes ________.
  10. Cost accounting ________.
  11. Which of the following differentiates cost accounting and financial accounting?
  12. Which of the following is true of financial accounting information acc 350 midterm exam?
  13. A data warehouse or infobarn ________.
  14. Which of the following is true of cost accounting?
  15. Which of the following deals with management accounting?
  16. Financial accounting is concerned primarily with ________.
  17. Which of the following statements refers to management accounting information?
  18. Financial accounting provides a historical perspective, whereas management accounting emphasizes ________.
  19. An Enterprise Resource Planning System can best be described as ________.
  20. The approaches and activities of managers in short-run and long-run planning and control decisions that increase value for customers and lower costs of products and services are known as ________.
  21. Financial accounting information focuses on internal reporting acc 350 midterm exam
  22. Cost accounting provides information for both management accounting and financial accounting professionals.
  23. Management accounting information and reports do not have to follow set principles or rules such as
  24. Management accounting ensures communication of an organization’s financial position to investors, banks, and regulators.
  25. The balance sheet, income statement, and statement of cash flows are used for financial accounting, and also for management accounting.
  26. Financial accounting is broader in scope than management accounting acc 350 midterm exam
  27. Cost accounting measures and reports short-term, long-term, financial, and non financial information……………………………………………Continued (230 Pages)acc 350 midterm exam