Answer the following statements true (T) or false (F)
1. Cost center responsibility reports typically focus on the flexible budget variance.
2. Regardless of the type of responsibility center, responsibility reports should focus on information, not blame.
3. Cost center responsibility reports generally focus on the static budget variance.
4. Flexible budgets use budgeted (or standard) costs at the actual level of activity.
5. Responsibility accounting can help managers identify the causes of variances, thereby allowing them to determine what was controllable.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. TRUE
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If the key variables have not been defined or are defined in a manner inconsistent with the researcher's definition, then the usefulness of the data is limited. This statement refers to the ________ criteria for evaluating secondary data
A) nature B) objective C) error/accuracy D) currency
What are the steps taken in the basis technology cash disbursement system?
MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by the use of MIS in a primary activity?
A. Royal Crest Dairy using their custom order and delivery system through an easily accessible Web portal for the customer to track delivery status. B. A system for the sales and marketing departments to track specific sales targets and follow up processes. C. An easy electronic survey, similar to the survey monkey, to be sent to the customer right after a service was completed. D. Scottrade Corp. creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items.
Activity-based costing and generally accepted accounting principles differ in that ABC
a. does not differ product costs in the same manner as GAAP. b. cannot be used to compute an income statement, but GAAP can. c. information is useful only to managers, while GAAP information is useful to all organizational stakeholders. d. is concerned only with costs generated from automated processes, but GAAP is concerned with costs generated from both manual and automated processes.