Hi, I have a test regarding my managerial accounting and I have the following questions
4- The methods to approximate cost functions are not ________; managers frequently use two or more together to avoid ________ in measuring cost behavior.
A.mutually exclusive; errors B. similar; duplication C. complementary; errors D. the same; duplication
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5- Which of the following is an example of using cost information for operational control?A. selection of value minus−chain function to emphasize in corporate mission
B. evaluation of process improvement efforts in a manufacturing process C. determination of Cost of Goods Sold for the income statement D. identification of capital assets to acquire for expansion purposes
6-The statement of financial position is also called the ________.
A. statement of cash flows B. balance sheet C. statement of retained earnings D. income statement
7- The acquisition of inventory on account will ________.
A.increase assets and increase liabilities
B.decrease assets and decrease liabilitiesC. increase assets and decrease stockholders’ equityD. increase assets and increase stockholders’ equity