Test your knowledge in Managerial Accounting with questions on ERP systems, data types, user roles, and financial decisions.
Finance manager
Operations/production manager
Human resource manager
Marketing manager
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Finance manager
Operations/Production manager
Marketing Manager
Human resource manager
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Product cost
Customer satisfaction
Net income
Operating costs
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Enter data into the accounting system
Collect data
Analyze information and create knowledge
Prepare tax returns
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Relevant costs
Opportunity costs
Sunk costs
Risk
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Potential and existing stockholders
Government taxing agencies
Potential and existing creditors
Management
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Factory maintenance worker
Factory supervisor
Managerial accountant
Assembly-line factory worker
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Only qualitative data
Only quantitative data
Both qualitative and quantitative data
The same information as a traditional accounting system
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Only qualitative factors
Only quantitative factors
Both quantitative and qualitative factors
Sunk costs as well as quantitative and qualitative factors
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Service
Just-in-time
Traditional manufacturing
Merchandising
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Machine hours
Direct labor hours
Direct labor cost
Indirect labor hours
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It integrates traditional accounting information systems with other information systems.
It can be customized to provide specific and relevant information to different types of users.
It has evolved in the past few years to address the shortcomings of traditional accounting information systems.
It captures quantitative but not qualitative information.
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Cost of goods sold
Net income
Sales
Nonmanufacturing income
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Controlling activities
Strategic planning
Operational Planning
Financial Activities
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Tire manufacturer
Computer software manufacturer
Retailer/merchandiser
Construction company
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Manufacturing costs
Manufacturing overhead
Non-manufacturing costs
Selling and administrative costs
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Overhead
Cost driver
Direct labor
Product cost
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Factory supervisor
Managerial accountant
Salesperson
Machine operator
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As the number of diverse products a company makes increases, the likleihood that a plantwide overhead rate will be accurate increases
Plantwide overhead rates must use machine hours as their cost driver
As the number of diverse products a company makes increases, the likelihood that a company will replace a plantwide overhead rate with a departmental overhead rate increases
Plantwide overhead rates are usually more costly to prepare than a departmental overhead rate
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