89 Free Test Bank for Cost Accounting 15th Edition by Horngren 

89 Free Test Bank for Cost Accounting 15th Edition by Horngren which is study tool for students of accounting to help students improve effectively their knowledge and skills to pass their exams. Below aremany free online textbook cost accounting test bank questions and full answers in which you can check your understanding of this textbook. Moreover, it not only uses the most current information to prepare students for their fields but it also helps students learn key concepts with a focus on strategy that integrates modern topics with traditional coverage and teach them how to handle the rapid pace of change in today’s organizations. Thus, let test bank become your supervisor to help you get an excellent result at your exam by ensuring that you practice always everyday. Good luck!

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Financial accounting ________.

•  A) focuses on the future and includes activities such as preparing next year's operating budget
•  B) must comply with GAAP (generally accepted accounting principles)
•  C) is the process of measuring, analyzing, and reporting financial and nonfinancial information related to the costs of acquiring or using resources in an organization
•  D) is prepared for the use of department heads and other employees

Which of the following differentiates cost accounting and financial accounting?

•  A) The primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers.
•  B) Cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.
•  C) Cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions.
•  D) Cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties.

Which of the following is true of financial accounting information?

•  A) It is prepared based on cost-benefit analysis.
•  B) It is primarily used by managers to make internal business decisions.
•  C) It focuses on the past-oriented financial performance of a company.
•  D) It only measures the cash transactions of a company.

Cost accounting ________.

•  A) measures the costs of acquiring or using resources in an organization
•  B) helps managers to develop, communicate, and implement strategies
•  C) coordinates product design, production, and marketing decisions and evaluate a company's performance
•  D) communicates information to investors, banks, regulators, and other outside parties

Customer relationship management initiatives use technology to coordinate all ________.

•  A) advertising and marketing techniques to attract customers
•  B) research activities
•  C) customer-facing activities
•  D) quality control management activities

Managers use management accounting information to ________.

•  A) help external users such as investors, banks, regulators, and suppliers
•  B) communicate, develop, and implement strategies
•  C) communicate a firm's financial position to investors, banks, regulators, and other outside parties
•  D) ensure that financial statements are consistent with the SEC rules

A data warehouse or infobarn ________.

•  A) is reserved for exclusive use by the CFO
•  B) is primarily used for financial reporting purposes
•  C) stores information used by different managers for multiple purposes
•  D) gathers only nonfinancial information

________ describes the flow of goods, services, and information from the purchase of materials to the delivery of products to consumers, regardless of whether those activities occur in the same organization or with other organizations.

•  A) Supply chain
•  B) Production process
•  C) Quality control
•  D) Customer relationship management

Which of the following statements about customer value is true?

•  A) Customer value is shown in a corporation's balance sheet.
•  B) Creating value for customers is an important part of planning and implementing strategy.
•  C) Customer value is the only focus that helps managers to formulate strategies.
•  D) Customer value is lost with increase in costs of the product.

Financial accounting provides the primary source of information for ________.

•  A) decision making in the finishing department
•  B) improving customer service
•  C) preparing the income statement for shareholders
•  D) planning next year's operating budget

Which of the following statements concerning an organization's strategy is true?

•  A) Strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives.
•  B) Cost accountants formulate strategy in an organization since they have more inputs about costs.
•  C) A good strategy will always overcome poor implementation.
•  D) Businesses usually follow one of two broad strategies: offering a quality product at a high price, or offering a unique product or service priced lower than the competition.

Which of the following groups would be least likely to receive detailed management accounting reports?

•  A) stockholders
•  B) sales managers
•  C) production supervisors
•  D) distribution managers

Production is the ________.

•  A) generation of, and experimentation with, ideas related to new products, services, or processes
•  B) processing orders and shipping products or services to customers
•  C) acquisition, coordination, and assembly of resources to produce a product or deliver a service
•  D) detailed planning and engineering of products, services, or processes

Which of the following is true of management accounting information?

•  A) It focuses on documenting past business actions of a firm.
•  B) It is prepared based on SEC rules and FASB accounting principles.
•  C) It is prepared for shareholders.
•  D) It co-ordinates product design, production, and marketing decisions.

Which of the following is not a concern for management accountants in formulating a strategy?

•  A) identifying the most important warehouse location for the distribution of goods
•  B) substituting products that exist in the marketplace
•  C) strategizing compliance with GAAP (Generally Accepted Accounting Principles)
•  D) maintaining adequate fixed assets available to implement the strategy

The value chain is the sequence of business functions in which ________.

•  A) value is deducted from the products or services of an organization
•  B) producing and delivering the product or service is of prime importance
•  C) products and services are evaluated with respect to their value to the supply chain
•  D) usefulness is added to the products or services of an organization

________ is a strategy that integrates people and technology in all business functions to enhance relationships with customers, partners, and distributors.

•  A) Supply-chain analysis
•  B) Customer relationship management
•  C) Value-chain analysis
•  D) Continuous quality improvement

Financial accounting is concerned primarily with ________.

•  A) external reporting to investors, creditors, and government authorities
•  B) cost planning and cost controls
•  C) product design and marketing strategies
•  D) providing information for strategic and tactical decisions

Which of the following deals with management accounting?

•  A) identifying the costs of acquiring the resources of the company
•  B) developing budgets
•  C) preparing the income statement
•  D) preparing the statement of cash flows

In designing strategy, a company must match its opportunities in the marketplace with ________.

•  A) environment friendly goals
•  B) its resources and capabilities
•  C) branding opportunities
•  D) the requirements of credit rating agencies

________ is the detailed planning and engineering and testing of products, services, or processes.

•  A) Plan of implementation
•  B) Design
•  C) Production
•  D) Research and development

Which of the following differentiates marketing from customer service?

•  A) Marketing is the process of promoting and selling products or services to customers or prospective customers, whereas customer service is the process of providing after-sales service to customers.
•  B) Marketing is the process of processing orders and shipping products or services to customers, whereas customer service is the process of providing additional information to customers about the product.
•  C) Marketing is the process of detailed planning, engineering, and testing of products and processes, whereas customer service concentrates on existing customers.
•  D) Marketing is the process of processing orders and shipping products or services to customers, whereas customer service is concerned with choosing the right customer for the product.

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 ________.

•  A) value chain management
•  B) enterprise resource planning
•  C) cost management
•  D) customer value management