Accounting > TEST BANKS > Introduction to Managerial Accounting, 8e Peter C. Brewer tb (1) (All)

Introduction to Managerial Accounting, 8e Peter C. Brewer tb (1)

Document Content and Description Below

Introduction to Managerial Accounting, 8e (Brewer) Chapter 1 Managerial Accounting and Cost Concepts 1) A factory supervisor's salary would be classified as an indirect cost with respect to a unit o... f product. Answer: TRUE Difficulty: 2 Medium Topic: Cost Classifications for Assigning Costs to Cost Objects Learning Objective: 01-01 Understand cost classifications used for assigning costs to cost objects: direct costs and indirect costs. Bloom's: Understand AACSB: Reflective Thinking AICPA: BB Critical Thinking; FN Measurement 2) A direct cost is a cost that can be easily traced to the particular cost object under consideration. Answer: TRUE Difficulty: 1 Easy Topic: Cost Classifications for Assigning Costs to Cost Objects Learning Objective: 01-01 Understand cost classifications used for assigning costs to cost objects: direct costs and indirect costs. Bloom's: Remember AACSB: Reflective Thinking AICPA: BB Critical Thinking; FN Measurement 3) A cost can be direct or indirect. The classification can change if the cost object changes. Answer: TRUE Difficulty: 2 Medium Topic: Cost Classifications for Assigning Costs to Cost Objects Learning Objective: 01-01 Understand cost classifications used for assigning costs to cost objects: direct costs and indirect costs. Bloom's: Understand AACSB: Reflective Thinking AICPA: BB Critical Thinking; FN Measuremen [Show More]

Last updated: 7 months ago

Preview 1 out of 4562 pages

Buy Now

Instant download

We Accept: