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Chapter 2—Basic Managerial Accounting Concepts
TRUE/FALSE
1. It is beneficial to assign indirect costs to cost objects.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
2. Price must be greater than cost in order for the firm to generate revenue.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
3. Accumulating costs is the way that costs are measured and recorded.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
4. Assigning costs involves the way that a cost is linked to some cost object.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
5. Assigning costs tells the accountant who spent the money.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
6. A cost object is any item such as products, customers, departments, regions, and so on, for which costs
are measured and assigned.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
7. Costs are directly, not indirectly, associated with cost objects.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
8. Direct costs are those costs that cannot be easily and accurately traced to a cost object.
ANS: F
Direct costs are those costs that can be easily and accurately traced to a cost object.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
9. Indirect costs are costs that are not easily and accurately traced to a cost object.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Cost Management | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
10. Allocation means that an indirect cost is assigned to a cost object using a reasonable and convenient
method.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
11. A variable cost is one that does not increase in total as output increase and does not decrease in total as
output decreases.
ANS: F
A variable cost is one that does increase in total as output increase and does not decrease in total as
output decreases.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-28-Variable and Fixed
Costs KEY: Bloom’s: Knowledge NOT: 1 min.
12. A fixed cost is a cost that does not increase in total as output increases and does not decrease in total as
output decreases.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-28-Variable and Fixed
Costs KEY: Bloom’s: Knowledge NOT: 1 min.
13. An opportunity cost is the benefit given up or sacrificed when one alternative is chosen over another.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Decision Modeling | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
14. Cost is a dollar measure of the resources used to achieve a given benefit.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
15. A cost object is something for which a company wants to know the cost.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry |AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
16. The revenue per unit is called cost.
ANS: F
The revenue per unit is called price.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
17. As costs are used up in the production of revenues, they are said to expire. Expired costs are called
expenses.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
18. Costs are incurred to produce future benefits.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
19. Expired costs are called assets.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-
Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
20. Reducing the cost required to achieve a given benefit means that a company is becoming less efficient.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Decision Modeling | IMA: Business Economics |
ACBSP: APC-27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
21. Costs can be assigned to cost objects in only one way.
ANS: F
Costs can be assigned to cost objects in a number of ways.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry |AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
22. Property taxes on a factory building would normally be classified as a fixed cost.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-1 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
23. Glue used in the manufacture of cabinets would be an example of a fixed cost.
ANS: F
Glue used in the manufacture of cabinets would be an example of a variable cost.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
24. Industries that provide intangible services do not normally have direct contact with their customers.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
25. Research and development costs would be classified as product cost.
ANS: F
Research and development costs would be classified as period costs.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
26. Product costs include direct materials, direct labor, and selling costs.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
27. All product costs other than direct materials and indirect labor are called overhead.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
28. Direct materials can be directly traced to the goods or services being produced.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
29. Any costs associated with storing, selling, and delivering the product are classified as product costs.
ANS: F
Any costs associated with storing, selling, and delivering the product are classified as period costs.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
30. Prime cost is the sum of direct materials cost and direct labor cost.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
31. Product costs are carried in inventory until the goods are finished.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
32. Marketing costs would be classified as period costs.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
33. The cost of janitorial services for a factory building would be classified as indirect labor.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
34. Period costs are all costs that are not product costs, such as office supplies.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
35. Employees who convert direct materials into a product or who provide a service to customers are
classified as indirect labor.
ANS: F
Employees who convert direct materials into a product or who provide a service to customers are
classified as direct labor.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Resource Management | IMA: Business Economics | ACBSP: APC-27-Managerial
Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
36. All manufacturing costs are classified as overhead.
ANS: F
All manufacturing costs are classified as direct materials, direct labor, or overhead.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
37. For external reporting purposes, costs must be classified into only three categories.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-09-Financial Statements |
ACBSP: APC-27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
38. Cost of goods manufactured represents the cost of direct materials, direct labor, and overhead incurred
during the current accounting period.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
39. Cost of goods sold is the total product cost of the units sold during a period.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
40. Sales revenue equals the product cost per unit times the number of units sold.
ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
41. Gross margin is the difference between sales revenue and cost of goods sold.
ANS: T PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
MATCHING
Select the appropriate classification for each of the following costs.
a. Period
b. Product
1. Advertising costs
2. Cost accountant’s salary
3. Factory supervisor’s salary
4. Research and development costs
5. Marketing costs
6. Cost of shipping products to customers
7. Supplies for factory washroom
8. Assembly line worker’s wages
1. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
2. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
3. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
4. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
5. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
6. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
7. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
8. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
Select the appropriate classification for each of the costs incurred by a manufacturer of automobiles.
a. direct materials
b. direct labor
c. overhead
d. selling expense
e. administrative expense
9. cost of tires
10. factory supplies
11. general accounting costs
12. factory security costs
13. factory janitorial costs
14. salary of chief executive officer
15. depreciation of vehicles used by sales personnel
16. cost of windshields used in the production process
9. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
10. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
11. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
12. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
13. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
14. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
15. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
16. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
Select the appropriate classification for each of the items listed below.
a. Product cost
b. Period cost
17. Cost of nails used by a home builder
18. Fees paid to an advertising firm
19. Sugar used in soft drink production
20. Rental cost of executive Lear jet
21. Cost of conference for sales team
22. Factory supervisor’s salary
23. Fees paid to outside auditing firm
24. Factory security costs
17. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
18. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
19. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
20. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
21. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
22. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
23. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
24. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
Select the appropriate definition for each of the items listed below.
a. per-unit prime cost
b. per-unit conversion cost
c. per-unit cost of goods manufactured
25. (direct labor + overhead)/units produced
26. (total manufacturing costs + work in process beginning work in process ending)/units produced
27. (direct materials + direct labor)/units produced
25. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Decision Modeling | IMA: Business Economics |
ACBSP: APC-27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
26. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 | LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Decision Modeling | IMA: Business Economics |
ACBSP: APC-27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
27. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Decision Modeling | IMA: Business Economics |
ACBSP: APC-27-Managerial Accounting Features/Costs KEY: Bloom’s: Knowledge
NOT: 1 min.
Select the appropriate definition for each of the items listed below.
a. period cost
b. direct cost
c. opportunity cost
d. variable cost
e. indirect cost
f. fixed cost
g. product cost
28. A benefit given up when one alternative is chosen over another
29. A cost that stays the same in total regardless of changes in output
30. A cost that is difficult to trace to a cost object
31. A manufacturing cost
32. A cost that is not inventoried
33. A cost that can be easily traced to a cost object
34. A cost that increases in total as output increases
28. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
29. ANS: F PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
30. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
31. ANS: G PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
32. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
33. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
34. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-28-Variable and Fixed Costs
KEY: Bloom’s: Knowledge NOT: 1 min.
Select the appropriate classification of the items listed below.
a. selling expense
b. administrative expense
c. direct materials
d. direct labor
e. overhead
35. Chief of surgery’s salary at a hospital
36. Wages of assembly line workers in an automobile plant
37. Cost of lubricating factory machinery
38. Cost of shipping goods to customers
39. Glue used in the manufacture of furniture
40. Cost of engines in the manufacture of airplanes
41. Salary of chief executive officer
42. A professor’s salary at a university
35. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
36. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
37. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
38. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
39. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
40. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
41. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
42. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: FN-Measurement |AICPA: FN-Reporting | IMA: Business Economics | ACBSP: APC27-Managerial Accounting Features/Costs | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
Select the appropriate classification of the output generated by each of the following industries.
a. Tangible
b. Intangible
43. CPA firm
44. Car manufacturer
45. Law firm
46. Medical clinic
47. Bowling alley
48. Fast food restaurant
49. Video rental
50. Professional sports franchise
43. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
44. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
45. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
46. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
47. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
48. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
49. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
50. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
Select the appropriate definition for each of the items listed below.
a. Work in process inventory
b. Finished goods inventory
c. Cost of goods sold
d. Cost of goods manufactured
e. Total manufacturing costs
51. The cost of units finished but not sold at the end of the current period
52. Direct materials + direct labor + overhead
53. The cost of units unfinished at the end of the current period
54. Beginning finished goods inventory + Cost of goods manufactured – Ending finished goods inventory
55. (direct materials + direct labor + overhead) +/ the change in work in process inventory from the
beginning to the end of the current period
51. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 | LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | IMA: Reporting | ACBSP: APC-09-
Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
52. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 | LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | IMA: Reporting | ACBSP: APC-09-
Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
53. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 | LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | IMA: Reporting | ACBSP: APC-09-
Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
54. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 | LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | IMA: Reporting | ACBSP: APC-09-
Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
55. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-2 | LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Business Economics | IMA: Reporting | ACBSP: APC-09-
Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
Select the appropriate item for each of the definitions listed below.
a. gross margin
b. selling expenses
c. sales revenue
d. cost of goods sold
e. operating income
56. gross margin selling and administrative expenses
57. marketing and distributing costs
58. price x units sold
59. sales revenue cost of goods sold
60. Beginning finished goods inventory + Cost of goods manufactured – Ending finished goods inventory
56. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-27-Managerial Accounting
Features/Costs | ACBSP: APC-09-Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
57. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-27-Managerial Accounting
Features/Costs | ACBSP: APC-09-Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
58. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-27-Managerial Accounting
Features/Costs | ACBSP: APC-09-Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
59. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-27-Managerial Accounting
Features/Costs | ACBSP: APC-09-Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
60. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-27-Managerial Accounting
Features/Costs | ACBSP: APC-09-Financial Statements KEY: Bloom’s: Knowledge
NOT: 1 min.
Select the appropriate definition of each of the items listed below.
a. Income Statement
b. Cost of goods manufactured
c. Work in process
d. Gross margin
e. Operating income
61. Gross margin selling and administrative expenses
62. The difference between sales revenue and cost of goods sold
63. The total cost of goods completed during the current period
64. Covers a particular period of time
65. Cost of partially completed goods
61. ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
62. ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
63. ANS: B PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
64. ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
65. ANS: C PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 2-3 NAT: BUSPROG: Analytic
STA: AICPA: FN-Reporting | IMA: Reporting | ACBSP: APC-09-Financial Statements
KEY: Bloom’s: Knowledge NOT: 1 min.
COMPLETION
1. Expired costs are called ____________.
ANS: expenses
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
2. ______________is the amount of cash or cash equivalent sacrificed for goods and/or services that are
expected to bring a current or future benefit to the organization.
ANS: Cost
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
3. _____________________ is the way that a cost is linked to some cost object.
ANS: Assigning costs
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
4. A __________________ is any item such as a product, customer, department, project, geographic
region, plan and so on, for which costs are measured and assigned.
ANS: cost object
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
5. Costs that can be easily and accurately traced to a cost object are called __________.
ANS: direct costs
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
6. The process of assigning an indirect cost to a cost object by using a reasonable and convenient method
is called _____________.
ANS: allocation.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
7. A(n)_________________ is the benefit given up or sacrificed when one alternative is chosen over
another.
ANS: opportunity cost
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
8. A(n) ________________ is a cost that does not increase in total as output increase and does not
decrease in total as output decreases.
ANS: fixed cost
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 2-1
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
9. Organizations that produce products are called _______________________.
ANS: manufacturing organizations
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
10. ________________ are those costs, both direct and indirect, of producing a product in a
manufacturing firm or of acquiring a product in a merchandising firm and preparing it for sale.
ANS: Product costs
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
11. Materials that become part of a product usually are classified as _______________.
ANS: direct materials.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
12. Insurance coverage, medical care, and accounting are examples of _________________ performed for
customers.
ANS: service activities
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-25-Managerial
Characteristics/Terminology KEY: Bloom’s: Knowledge
NOT: 1 min.
13. _________________ equals the sum of direct materials, direct labor, and manufacturing overhead.
ANS: Total product cost
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
14. All product costs other than direct materials and direct labor are put into a category called
_________________________.
ANS: manufacturing overhead.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
15. ______________________ is the sum of direct labor cost and manufacturing overhead cost.
ANS: Conversion cost
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
16. ________________ and _________________ costs are considered period costs.
ANS:
Selling and administrative
selling, administrative
administrative, selling
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 2-2
NAT: BUSPROG: Analytic
STA: AICPA: BB-Industry | IMA: Business Economics | ACBSP: APC-27-Managerial Accounting
Features/Costs KEY: Bloom’s: Knowledge NOT: 1 min.
