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Chapter 01 - Cost Management and Strategy Chapter 01 Cost Management and Strategy Multiple Choice Questions 1. Which of the following does not represent a main focus of cost management information? A. Strategic management. B. Performance measurement. C. Planning and decision making. D. Preparation of financial statements. E. Internal auditing and control. 2. Strategic management can be defined as the development of a sustainable: A. Chain of command. B. Competitive position. C. Cash flow. D. Business
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CHAPTER 2 TEST QUESTIONS True-False 1. The utility created through the basic marketing activities is known as place utility. ANSWER: False‚ Page 40 2. Transportation is the physical movement or flow of goods. ANSWER: True‚ Page 42 3. During the 1990s and 2000s‚ logistics costs as a percentage of gross national product declined. ANSWER: True‚ Page 47 4. An aircraft manufacturer is a good example of an organization with a heavy inbound flow and a simple outbound flow. ANSWER: True
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Chapter 14 Firms in Competitive Markets Multiple Choice 1. A FIRM HAS MARKET POWER IF IT CAN |a. |maximize profits. | |b. |minimize costs. | |c. |influence the market price of the good it sells. | |d. |hire as many
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02 Student: ___________________________________________________________________________ 1. Motivation is an external force on the person that causes him or her to engage in specific behaviours. True False 2. Learned capabilities refer to the skills and knowledge that you have actually acquired. True False 3. Aptitudes are natural talents that help individuals learn specific tasks more quickly and perform them better than other people. True False 4. One person-job matching
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Chapter 19: Accounting for Income Taxes Fundamentals of Accounting for Income Taxes * Intro * Pretax Financial Income- income before taxes‚ income for financial reporting purposes‚ income for BOOK purposes * Determine according to GAAP * Taxable Income- amount used to compute income taxes payable * Determine using Internal Revenue Code (tax code) * Differences arise for a simple reason‚ for financial reporting purposes companies use the full accrual
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technology. Page Ref: 18 9) Knowledge workers assist with paperwork at all levels of the firm. Page Ref: 19 10) There are four major business functions: sales and marketing; manufacturing and production; finance and accounting; and information technology. Page Ref: 19 11) In order to understand how a specific business firm uses information systems‚ you need to know something about the hierarchy and culture of the company. Page Ref: 19-20
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Accounting 3342 Group Test #1 Sept. 10‚ 2014 Problem 1 Below are selected transactions of Blackbird Ltd. for 2014: 1. On May 10‚ the company purchased goods from Jay Corp. for $60‚000‚ terms 2/10‚ n/30. Purchases and accounts payable are recorded at gross amounts. The invoice was paid on May 18. (Use the gross method.) 2. Assume the same information as in (1) above‚ except that the company uses the ‘net method’‚ and payment was made on May 25. 3. On June 1‚ the company purchased
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2. Paxton Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department’s operations in January. The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $10‚973 and a total of $268‚107 in conversion costs were incurred in the department during January. What was the cost per equivalent unit
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COMM 370 – Elena Simintzi Practice for Lecture 1: Basic Financial Analysis Question 1. Consider the following financial statements for SubMart Corp contained in the company’s most recent annual report filed with the OSC. SubMart Corp Balance Sheet‚ December 31‚ 2012 Assets Cash Accounts receivable Inventories Property‚ plant & equipment Less accumulated depreciation Total assets Liabilities & Equity Accounts payable Accrued expenses payable Long-term debt Common stock Retained earnings Total
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