Management Accounting Ch01
Quizzes and Glossary
Quizzes and Glossary
Kartei Details
Karten | 20 |
---|---|
Sprache | English |
Kategorie | Finanzen |
Stufe | Universität |
Erstellt / Aktualisiert | 23.05.2021 / 28.01.2023 |
Lizenzierung | Keine Angabe |
Weblink |
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Reports prepared in financial accounting are general-purpose reports, whereas reports prepared in managerial accounting are usually special-purpose reports.
Chapter 1
Determining the unit cost of manufacturing a product is an output of financial accounting.
Chapter 1
Controlling is the process of determining whether planned goals are being met.
Chapter 1
Decision-making is an integral part of the planning, directing, and controlling functions.
Chapter 1
Manufacturing costs that cannot be classified as direct materials or direct labor are classified as manufacturing overhead.
Chapter 1
Both direct labor cost and indirect labor cost are product costs.
Chapter 1
Raw materials are equal to direct materials minus indirect materials.
Chapter 1
In calculating gross profit for a manufacturing company, the cost of goods manufactured is deducted from net sales.
Chapter 1