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CHAPTER1MANAGEMENTACCOUNTING:INFORMATIONTHATCREATESVALUETRUE/FALSE1.Managementaccountinggathersshort-term,long-term,financial,andnonfinancialinformation.a.Trueb.False2.Managementaccountinginformationgenerallyreportsontheorganizationasawhole.a.Trueb.False3.Companieshavetofollowstrictguidelineswhendesigningamanagementaccountingsystem.a.Trueb.False4.Agoodmanagementaccountingsystemisintendedtomeetspecificdecision-makingneedsatalllevelsintheorganization.a.Trueb.False5.Duringthehistoryofmanagementaccounting,innovationsweredevelopedtoaddressthedecision-makingneedsofmanagers.a.Trueb.False6.Akeyelementinanyorganization’sstrategyistoidentifyitstargetcustomersandtodeliverwhatthosetargetcustomerswant.a.Trueb.False7.Thevaluepropositionhasonlytwoelements:costandquality.a.Trueb.False8.Qualityisthedegreeofconformancebetweenwhatthecustomerispromisedandwhatthecustomerreceives.a.Trueb.False9.Recently,thedemandforimprovedmanagementaccountingandcontrolinformationwithinmanufacturingfirmshasalsooccurredinserviceorganizations.a.Trueb.False10.Recently,thecompetitiveenvironmentforbothmanufacturingandservicecompanieshasbecomefarmorechallenginganddemanding.a.Trueb.False11.Servicecompaniesareverysimilartomanufacturingcompaniesinmayways,includingthefactthatmanyemployeeshavedirectcontactwithcustomers.a.Trueb.False12.Sensitivitytotimelinessandqualityofserviceisespeciallyimportanttoserviceorganizations.a.Trueb.False13.Governmentandnonprofitorganizations,aswellasprofit-seekingenterprises,arefeelingthepressuresforimprovedperformance.a.Trueb.False14.Managementaccountinginformationallowsmanagerstocompareactualandplannedcostsandtoidentifyareasandopportunitiesforprocessimprovement.a.Trueb.False15.Managementaccountingcanprovideinformationoncustomersatisfaction.a.Trueb.False16.ROI(returnoninvestment)combinestwoprofitabilitymeasurestoproduceasinglemeasureofdepartme