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Test Bank For Cornerstones Of Cost Management, 3rd Edition

Build a strong knowledge base with Test Bank For Cornerstones Of Cost Management, 3rd Edition, featuring expert-reviewed content and exam-focused exercises.

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CHAPTER 1:INTRODUCTION TO COST MANAGEMENT© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publiclyaccessible website, in whole or in part.1.Anaccountinginformationsystemcollects,records,summarizes,analyzes,andmanagesdatatotransforminputsintoinformationthatisprovidedtousers.a.Trueb.FalseANSWER:True2.Thetwomajorsubsystemsoftheaccountinginformationsystemarethefinancialaccountinginformationsystemandthecostmanagementaccountinginformationsystem.a.Trueb.FalseANSWER:True3.Thecostmanagementinformationsystemisprimarilyconcernedwithproducingoutputsforexternalusers.a.Trueb.FalseANSWER:False4.Thethreebroadobjectivesoffinancialaccountinginformationsystemsaretoprovideinformationforcostingoutservicesandproducts,planningandcontrol,anddecisionmaking.a.Trueb.FalseANSWER:False5.Preparingreportsfordivisionmanagersisanactivityassociatedwiththecostmanagementinformationsystem.a.Trueb.FalseANSWER:True6.Thecostmanagementinformationsystemhastwomajorsubsystems:thecostaccountinginformationsystemandtheoperationalcontrolinformationsystem.a.Trueb.FalseANSWER:True

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