Activity-Based Costing System
1) A well-designed activity-based costing system starts with __________.
A. analyzing the activities performed to manufacture a product
B. assigning manufacturing overhead costs for each activity cost pool to products
C. computing the activity-based overhead rate
D. identifying the activity-cost pools
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A. have been approved for use by the managements of business firms
B. have been approved by the Internal Revenue Service
C. have substantial authoritative support
D. are proven theories of accounting
3) The income statement and balance sheet columns of Pine Company's worksheet reflects the …show more content…
balance of trade.
B. financial and capital account.
C. current account.
D. government financial account.
24) The balance of payment account is made up of:
A. a monetary account and a fiscal account.
B. an import account and an export account.
C. a current account and a financial and capital account.
D. an investment account and a consumption account.
25) The model of aggregate demand and aggregate supply explains the relationship between __________.
A. real GDP and the price level
B. unemployment and output
C. the price and quantity of a particular good
D. wages and employment
26) The open-economy macroeconomic model includes __________.
A. neither the market for loanable funds or the market for foreign-currency exchange
B. only the market for foreign-currency exchange
C. only the market for loanable funds
D. both the market for loanable funds and the market for foreign-currency exchange
27) The principal lag for monetary policy __________.
A. is the time it takes for policy to change spending. The principal lag for fiscal policy is the time it takes to implement …show more content…
2,401
B. 609
C. 1,604
D. 1,692
48) Which one of the following statements concerning production and staffing plans is best?
A. The impact of production and staffing plans cuts across several functional areas of the firm.
B. Production and staffing plans specify production rates, workforce levels, and inventory holdings, but do not account for capacity limitations because they are aggregated.
C. Production and staffing plans attempt to achieve several objectives, all of which must be consistent with one another.
D. When production and staffing plans are made, aggregation can be performed only along two dimensions: products and time.
49) Likely reasons for inaccurate control limits would include which of the following?
A. Process variation was not zero, as expected.
B. The engineers were underpaid for their work.
C. The engineering parameter for variance is unknown.
D. There was insufficient preliminary sampling.
50) The one-worker, multiple machines approach functions as:
A. a way to create uniform workstation loads.
B. a production bottleneck.
C. a one-person production line.
D. a poka-yoke
A. analyzing the activities performed to manufacture a product
B. assigning manufacturing overhead costs for each activity cost pool to products
C. computing the activity-based overhead rate
D. identifying the activity-cost pools
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A. have been approved for use by the managements of business firms
B. have been approved by the Internal Revenue Service
C. have substantial authoritative support
D. are proven theories of accounting
3) The income statement and balance sheet columns of Pine Company's worksheet reflects the …show more content…
balance of trade.
B. financial and capital account.
C. current account.
D. government financial account.
24) The balance of payment account is made up of:
A. a monetary account and a fiscal account.
B. an import account and an export account.
C. a current account and a financial and capital account.
D. an investment account and a consumption account.
25) The model of aggregate demand and aggregate supply explains the relationship between __________.
A. real GDP and the price level
B. unemployment and output
C. the price and quantity of a particular good
D. wages and employment
26) The open-economy macroeconomic model includes __________.
A. neither the market for loanable funds or the market for foreign-currency exchange
B. only the market for foreign-currency exchange
C. only the market for loanable funds
D. both the market for loanable funds and the market for foreign-currency exchange
27) The principal lag for monetary policy __________.
A. is the time it takes for policy to change spending. The principal lag for fiscal policy is the time it takes to implement …show more content…
2,401
B. 609
C. 1,604
D. 1,692
48) Which one of the following statements concerning production and staffing plans is best?
A. The impact of production and staffing plans cuts across several functional areas of the firm.
B. Production and staffing plans specify production rates, workforce levels, and inventory holdings, but do not account for capacity limitations because they are aggregated.
C. Production and staffing plans attempt to achieve several objectives, all of which must be consistent with one another.
D. When production and staffing plans are made, aggregation can be performed only along two dimensions: products and time.
49) Likely reasons for inaccurate control limits would include which of the following?
A. Process variation was not zero, as expected.
B. The engineers were underpaid for their work.
C. The engineering parameter for variance is unknown.
D. There was insufficient preliminary sampling.
50) The one-worker, multiple machines approach functions as:
A. a way to create uniform workstation loads.
B. a production bottleneck.
C. a one-person production line.
D. a poka-yoke