Question

True or False

Answer True or False. I already included it above, you did not have a careful look.

6. The starting point for managerial decisions is monitoring actual operations 7. Desirable employee behaviour can be motivated by trying employee performance evaluation and pay to long term or short term results 8. Organisational information systems only collect accounting information 9. Cost accounting information is used for both management accounting and financial accounting activities 10. Management accounting is the process of gathering, summarizing and reporting 11. Intellectual capital is a type of financial resource that is captured by the organisation's information system. 12. It is easy to differentiate between internal and external reports 13. The design of the management accounting system structure is influenced by both external and internal factors. 14. Technological advances have allowed management accountants to develop previously infeasible cost and management accounting systems. 15. GAAP stands for Generally Agreed Accounting Practices 16. Only large established organisations require a management accounting function. 17. Relevant information helps decision makers evaluate and choose between alternative courses of action. 18. Relevant information relates to events that happened in the past and is therefore quantifiable and accurate. el 19. Higher quality information is more certain, complete, relevant, timely and valuable. 20. The use of sophisticated information systems means that uncertainty is eliminated. 21. Opportunity costs are the benefits forgone when we choose one alternative over the next best alternative. 22. Cost-benefit analysis means that all decisions will provide a financial benefit to the organisation 23. Tuition fees are an opportunity cost of earning a university degree. 24. High quality information will generally have fewer uncertainties if it is based on viable assumptions.

Answer 1

6. True

7. True

8. False

9. True

10. True

11. False

12. True

13. True

14. True

15. False

16. False

17. True

18. True

19. True

20. True

21. True

22. False

23. False

24. True