Salem State University ACC202 – Managerial Accounting – Practice Test Chapters 14‚ 1‚ 2 Professor Paul F McGee‚ CPA Name___________________________________________ Please indicate the best/correct answer by circling the appropriate letter. 1. Managerial accounting helps managers perform three vital activities. These activities include all of the following except: a. Planning b. Controlling c. Decision making d. Hiring Controllers 2. The act that was intended to protect the interests
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1. What caused the existing system at ETO to fail? The existing system does not account for time spent in the testing facility by each set of products. It allocates burden according to ‘direct labor dollar’ incurred instead of ‘machine hours’. 2. DIRECT LABOR MAIN ROOM MECH ROOM TOTAL ICA 917 8.5 10 18.5 Accountants 183.4 680 800 2580.4 Consultants 183.4 538.4 1126.3 2765.1 Current 917 1329.7 2246.7 ICB 2051 14 26 40.0 Accountants 410.2 1120.0 2080.0 5661
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and managerial accounting‚ the first differences has to do with the primary users of the reports; in financial accounting the reports are used by external users such as stockholders‚ creditors and regulators. On the other hand managerial accounting reports are used by internal users and include officers and managers. In addition the type and the frequency of the reports differ; financial accounting have financial statements and quarterly and annually are for general purposes while managerial reports
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13. Peralta‚ Arnuljo JR. MOVIE REVIEW “FOREST GUMP” SUMMARY: Stupid is as stupid does‚" says Forrest Gump (played by Tom Hanks in an Oscar-winning performance) as he discusses his relative level of intelligence with a stranger while waiting for a bus. Despite his sub-normal IQ‚ Gump leads a truly charmed life‚ with a ringside seat for many of the most memorable events of the second half of the 20th century. Entirely without trying‚ Forrest teaches Elvis Presley to dance‚ becomes a football
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University of Phoenix Material Role of Financial Accounting versus Managerial Accounting Matrix Compare and contrast financial accounting and managerial accounting by answering the following questions in the matrix provided. Cite any sources you use in accordance with APA guidelines. Term or Concept Financial Accounting Managerial Accounting What is the primary purpose of the accounting system? The main purpose of financial accounting is to prepare financial reports that provide information
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Managerial Accounting Study Guide Chapter 2 Differences between financial and managerial accounting Managerial accounting provides information to managers‚ the people inside the organization who direct and control its operations. Financial accounting provides information to stockholders‚ creditors‚ and others who are outside the organization. Managerial accounting = inside the organization Financial accounting = outside the organization Exhibit 2-2 Comparison of Financial and Managerial Accounting
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Forest Gump "Forrest Gump" is a 1994 American epic romantic comedy and dramatic film based on the 1986 novel of the same name by Winston Groom. The film was directed by Robert Zemeckis and starred Tom Hanks‚ Robin Wright‚ Gary Sinise and Sally Field and is one of the best movies of all time‚ guaranteed. I really just love this movie and it has such a special place in my heart. The performances are just so unforgettable and never get out of your head. The characters‚ I mean the actors
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J. Llano Managerial Accounting Performance Measures & Responsibilities Managerial accounting in simple terms relates to providing information in support of the internal management processes which aids managers to identify‚ accumulate‚ analyze‚ interpret and use collected information to help the company meet its organizational
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never know what you’re gonna get." Forrest Gump is the portrayal of a man that has been alienated from society‚ not because he is unintelligent or dimwitted‚ but rather because he is not restricted by the conventional ideals which are embedded within his culture; thus‚ challenging the conformities and principals that most people are accustomed to. The contrast that Robert Zemeckis‚ director of the film‚ is attempting to convey through the character of Forrest Gump is how most people are too smart
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University of Washington – ACCT 225 – Intro Managerial Accounting Midterm 2 Study Guide Below is a list of some of the things you should definitely be familiar with for Midterm 2. It is not intended to be a complete list. Rather‚ this should be used a supplement to the studying you were otherwise doing. Chapter 7 Under variable costing‚ only those manufacturing costs that vary with production quantity (output) are included as product costs. This would typically include direct materials‚ direct
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