The practice of delegating authority and responsibility is referred to as:
A. Centralization of authority.
B. Standard costing.
C. Decentralization.
D. Management by exception.
Answer: C
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Which of the following will help ensure a communication that is more concise?
A) Active voice B) Slang C) Clichés D) Wordy phrases E) Fillers
A major difference between committed and discretionary fixed costs is that
a. incurring committed fixed costs is less risky than using discretionary costs. b. managers are usually responsible for committed fixed costs but not for discretionary fixed costs. c. incurring discretionary fixed costs rather than committed fixed costs gives a company more flexibility in controlling costs. d. companies are using more discretionary fixed costs because labor is easier to "remove" than technology.
Comparing actual performance to previously budgeted amounts is part of the ________
A) controlling function of managerial accounting B) planning function of managerial accounting C) reporting function of managerial accounting D) organizing function of managerial accounting
If a stock's intrinsic value is greater than its market price, then the stock is overvalued and should be sold.
Answer the following statement true (T) or false (F)