Question 1
1.
What is the
difference between financial accounting and managerial accounting?
Question
2
1.
Explain the
two reasons why the shorter the payback period the more attractive the
investment is when the payback technique is used?
Question
3
1.
Distinguish
between a master budget and a sales forecast.
Question
4
1.
Explain the
nature and importance of a job cost sheet.
Question
5
1.
Distinguish
among operating, investing, and financing activities.
Question
6
1.
Managers’
activities and responsibilities can be classified into three broad functions.
List and discuss each function.
Question
7
1.
Identify and
discuss the relevant costs in accepting an order at a special price.
Question
8
1.
Smith &
Company claims that the relevant range concept is only important for variable
costs. Explain the relevant range concept and discuss whether you agree with
Smith & Company.
Question
9
1.
What is a CVP
analysis and how is it used in managerial accounting?
Question
10
1.
What is the
difference between: unit-level, batch-level, product-level, and facility-level
activities?
