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Cost Management Measuring, Monitoring, and Motivating Performance, Binder Ready Version, 3rd Canadian Edition Eldenburg, Wolcott, Chen, Cook Test Bank

(2 customer reviews)

Cost Management Measuring, Monitoring, and Motivating Performance,

Cost Management Measuring

( Test Bank)

Cost Management Measuring, Monitoring, and Motivating Performance, Binder Ready Version, 3rd Canadian Edition Eldenburg, Wolcott, Chen, Cook Test Bank

Edition: 3rd Canadian Edition

Author Name: Eldenburg, Wolcott, Chen, Cook

contact:

Whatsapp +1 (949) 734-4773

 

for the Facebook page click here 

 

for more books  for  ( Test Bank and Solution Manual) click here

 

For a Solution, manual click here

 

sample free

$39.00 $50.00

Cost Management Measuring, Monitoring, and Motivating Performance,

Cost Management Measuring

( Test Bank)

Cost Management Measuring, Monitoring, and Motivating Performance, Binder Ready Version, 3rd Canadian Edition Eldenburg, Wolcott, Chen, Cook Test Bank

Edition: 3rd Canadian Edition

Author Name: Eldenburg, Wolcott, Chen, Cook

contact:

Whatsapp +1 (949) 734-4773

 

for the Facebook page click here 

 

for more books  for  ( Test Bank and Solution Manual) click here

 

For a Solution, manual click here

 

sample free

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CHAPTER 1

 

The Role of Accounting Information in
Ethical Management Decision Making

 

CHAPTER LEARNING OBJECTIVES

 

 

  1. Describe the process of strategic management and decision making.

 

 

  1. Identify the types of control systems that managers use.

 

 

  1. Explain the role of accounting information in strategic management.

 

 

  1. Explain the information systems and information that is relevant for decision making.

 

 

  1. Describe how business risk affects management decision making.

 

 

  1. Appreciate how biases affect management decision making.

 

 

  1. Determine how managers make higher-quality decisions.

 

 

  1. Explain the importance of ethical decision making.

 

TRUE-FALSE STATEMENTS

 

 

  1. A vision statement is one way to clarify an organization’s basic purpose and ideology.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Describe the process of strategic management and decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Most managers follow a standard template and format when writing a vision statement.

 

Answer: False

 

Difficulty: Easy

Learning Objective: Describe the process of strategic management and decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. A vision statement helps employees understand how to deal with various stakeholder groups.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Describe the process of strategic management and decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Organizational core competencies are the tactics that managers use to take advantage of the vision.

 

Answer: False

 

Difficulty: Easy

Learning Objective: Describe the process of strategic management and decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Accounting information is the only thing managers need to make financial decisions.

 

Answer: False

 

Difficulty: Easy

Learning Objective: Explain the role of accounting information in strategic management.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Accounting information is used to monitor operations by comparing actual results to planned results.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Explain the role of accounting information in strategic management.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Accounting information cannot be used to motivate employee behavior.

 

Answer: False

 

Difficulty: Easy

Learning Objective: Explain the role of accounting information in strategic management.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Cost accounting information is used for both external reporting and internal decision making.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Explain the role of accounting information in strategic management.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Cost accounting information, such as the valuation of ending inventory, is shown on external financial statements.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Explain the role of accounting information in strategic management.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Because accounting information is highly objective and quantitative in nature, it is not subject to uncertainties or management bias.

 

Answer: False

 

Difficulty: Easy

Learning Objective: Identify the types of control systems that managers use.

Learning Objective: Appreciate how biases affect management decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Uncertainty and bias reduce decision quality.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Identify the types of control systems that managers use.

Learning Objective: Appreciate how biases affect management decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Uncertainties cause decision makers to ignore weaknesses in a preferred course of action.

 

Answer: False

 

Difficulty: Easy

Learning Objective: Identify the types of control systems that managers use.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Uncertainties and biases do not affect external financial reports, because they are based on objective standards.

 

Answer: False

 

Difficulty: Easy

Learning Objective: Identify the types of control systems that managers use.

Learning Objective: Appreciate how biases affect management decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Because we can never completely remove biases and uncertainty from decision-making, higher-quality decision processes are often imprecise.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Identify the types of control systems that managers use.

Learning Objective: Appreciate how biases affect management decision making.

CPA: Management Accounting

Bloomcode: Knowledge

 

 

  1. Higher-quality decisions result from higher-quality information, reports, and decision-making processes.

 

Answer: True

 

Difficulty: Easy

Learning Objective: Determine how managers make higher-quality decisions.

CPA: Management Accounting

Bloomcode: Knowledge

 

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