40 Free Test Bank for Managerial ACCT 2010 1st Edition by Sawyers 

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Which of the following is not an example of an external user of accounting information?

•  a.Potential and existing stockholders
•  b.Government taxing agencies
•  c.Potential and existing creditors
•  d.Management

Which of the following statements is not true regarding enterprise resource planning (ERP)?

•  a.It integrates traditional accounting information systems with other information systems.
•  b.It can be customized to provide specific and relevant information to different types of users.
•  c.It has evolved in the past few years to address the shortcomings of traditional accounting information systems.
•  d.It captures quantitative but not qualitative information.

You are now considering your housing options for next semester. If the cost of a dorm room and the cost of an apartment are exactly the same, housing costs are:

•  a.sunk costs.
•  b.an opportunity cost.
•  c.not relevant.
•  d.relevant.

Which manager activity would address the decision on whether or not to accept a special order within the next few days?

•  a.Sales activity
•  b.Strategic planning activity
•  c.Operating activity
•  d.Controlling activity

Which of the following is not one of the three primary activities of managers?

•  a.Budgeting activities
•  b.Planning activities
•  c.Operating activities
•  d.Controlling activities

You are considering your housing options for next semester. The cost of a dorm room and the cost of an apartment are the same. You paid a $50 non-refundable deposit to live in the dorm last year. This deposit is an example of a(n):

•  a.opportunity cost.
•  b.relevant cost.
•  c.sunk cost.
•  d.avoidable cost.

Which of the following would be an irrelevant cost?

•  a.Future costs that differ among alternatives.
•  b.Benefits foregone by choosing one alternative over another.
•  c.Costs that have already been incurred.
•  d.Costs that are avoidable.

Which type of business manager would most likely be involved in product packaging decisions?

•  a.Marketing manager
•  b.Operations/production manager
•  c.Finance manager
•  d.Human resource manager

All of the following are examples of operating activities except:

•  a.Decisions on whether or not to schedule overtime for employees.
•  b.Decisions on what price to charge for a product.
•  c.Decisions on whether or not to accept a special order.
•  d.Decisions on whether actual outcomes were similar to desired outcomes.

Which type of business manager would be the most likely to decide whether or not employees need to work overtime in order to fill a special order?

•  a.Human resource manager
•  b.Operations/production manager
•  c.Finance manager
•  d.Marketing manager

Looking at how a company will distinguish itself from its competitors involves:

•  a.Operational planning
•  b.Strategic planning
•  c.Internal planning
•  d.Financial planning

Which type of business manager would most likely be in charge of deciding on the type of benefit package an employee receives?

•  a.Finance manager
•  b.Operations/production manager
•  c.Human resource manager
•  d.Marketing manager

Which type of business manager would be the most likely to decide whether or not a company should lease or buy expensive manufacturing equipment?

•  a.Operations/production manager
•  b.Human resource manager
•  c.Finance manager
•  d.Marketing manager

Costs that differ between alternatives are called:

•  a.sunk costs.
•  b.irrelevant costs.
•  c.relevant costs.
•  d.unavoidable costs.

ERP systems capture:

•  a.only qualitative data.
•  b.only quantitative data.
•  c.both qualitative and quantitative data.
•  d.the same information as traditional accounting information systems.

A company's decision on where to locate a new factory is most likely a result of:

•  a.Operating activities
•  b.Operational planning
•  c.Strategic planning
•  d.Controlling activities

When making a decision, which of the following should not be considered?

•  a.Relevant costs
•  b.Opportunity costs
•  c.Sunk costs
•  d.Risk

Which of the following is not true with regard to opportunity costs?

•  a.They are the benefits forgone by selecting one alternative over another.
•  b.They are relevant.
•  c.They are sometimes difficult to quantify.
•  d.They have already occurred in the past.

Which of the following statements is true regarding ethics in decision-making?

•  a.Since most business decisions are simply a matter of economics, ethical considerations should be ignored.
•  b.Decision-making can have an ethical as well as an economic impact.
•  c.Managerial accountants do not face ethical issues.
•  d.Business managers will always agree on ethical choices.

Sunk costs are:

•  a.usually relevant.
•  b.costs that will occur in the future.
•  c.not relevant.
•  d.costs that can be avoided.