This paperwork ACC 561 Final Exam A. DONE includes answers to these exercises:

1) According to the Financial Executives Institute, one function of controllership is ‘

2) Performance reports _ ‘

3) Budgets ‘

4) Ethical accountants are important to society because ‘

5) According to the Institute of Management Accountants’ Statement of Ethical Professional

Practice, the standard of competence includes:

6) According to the Institute of Management Accountants’ Statement of Ethical Professional

Practice, the standard of objectivity includes _’

7) Which scorecard function is associated with making non-routine decisions?

8) is the field of accounting that develops information for external decision makers such as stockholders, suppliers, banks, and government regulatory agencies’

9) Launching a new product line is an example of ‘

10) The is also called the statement of financial position’

11) The accrual basis of accounting recognizes the impact of transactions on the financial statements in the period when ‘

12) The is not one of the three major financial statements’

13) The use of acquisition cost less depreciation in valuing an asset on the balance sheet is the logical result of the _ accounting convention’

14) The accounting convention of guides the relative sophistication of the accounting system’

15) The accounting convention of means selecting the method of measurement that yields the gloomiest immediate results’

16) The statement of cash flows is used for all of the following except _’

17) The difference between a single and multiple step income statement is that a single step income statement ‘

18) Sylvester Company requires clients to pay in advance for legal services’ One such client made a $4,000 payment on May 1, and Sylvester Company recorded this transaction in the appropriate liability account’ As of May 20, the legal services that the client requested had been completed’ The May 20 accounting entry will:

19) Output measures of both resources and activities are ‘

20) Which of the following is not a cost driver of customer services costs?

21) Which value chain function would include the cost of computer-aided design equipment and cost to develop the prototype of a product?

22) Walnut Corporation sells desks at $480 per desk’ The costs associated with each desk are as follows:

23) Hug Me Company produces dolls’ Each doll sells for $20’00’ Variable costs per unit total

$14’00, of which $6’25 is for direct materials and $5’25 is for direct labor’ If total fixed costs are $435,000, then the break even volume in dollars is ‘

24) If the sales price per unit is $100, the unit variable cost is $75, and total fixed costs are

$150,000, then the break even volume in dollar sales rounded to the nearest whole dollar is

25) of approximating cost functions does not involve the analysis of past costs’ ‘

26) In relation to a cost function, the term reliability means ‘

27) The method of measuring cost functions is the least reliable’

28) is a name for a system that first accumulates overhead costs for each of the activities of an organization, and then assigns the costs of activities to the products, services, or other

cost objects that caused that activity’

29) The change from traditional costing to activity-based costing may reveal that ‘

30) is an example of the external financial reporting purpose of the cost management systems’

31) models are mathematical models of the master budget that can react to any sCOM 215 Week 8 Job Search Management,Communications,$14.29,

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