Hilton Ppt Chapter 1 Answer Key

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Chapter 01
The Changing Role of Managerial Accounting in a Dynamic Business Environment

Chapter 01 The Changing Role of Managerial Accounting in a Dynamic Business Environment Answer Key

True / False Questions

1. Controlling involves the coordination of daily business functions within an organization.
FALSE

AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Bloom 's: RC
Difficulty: Easy
Learning Objective: 01-02 Explain four fundamental management processes that help organizations attain their goals.

2. Measuring the performance of managers and subunits is not an objective of managerial accounting.
FALSE

AACSB: Analytic
AICPA BB: Critical Thinking
AICPA FN: Research
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10. Which of the following involves the coordination of daily business functions within an organization?
A. Decision making.
B. Planning.
C. Directing operational activities.
D. Controlling.
E. Motivating.

AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Bloom 's: RC
Difficulty: Easy
Learning Objective: 01-02 Explain four fundamental management processes that help organizations attain their goals.

11. Taurus Company has set various goals, and management is now taking appropriate action to ensure that the firm achieves these goals. One such action is to reduce outlays for overhead, which have exceeded budgeted amounts. Which of the following functions best describes this process?
A. Decision making.
B. Planning.
C. Coordinating.
D. Controlling.
E. Organizing.

AACSB: Analytic
AICPA BB: Critical Thinking
AICPA FN: Measurement
Bloom 's: N
Difficulty: Easy
Learning Objective: 01-02 Explain four fundamental management processes that help organizations attain their goals.

12. Which of the following is not an objective of managerial accounting?
A. Providing information for decision making and planning.
B. Assisting in directing and controlling operations.
C. Maximizing profits and minimizing costs.
D. Measuring the performance of managers and subunits.
E. Motivating managers toward the organization 's goals.

AACSB: Analytic
AICPA BB: Critical

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