- Research and development(R&D), production, and customerservice are business functions thatare all included as part of TimeLeft a) the value chain. b) Obenchmarking. c) O none of theabove d) O the supply chain. e) ‹marketing.

Business functions are the numerous tasks or procedures carried out by an organization to accomplish…

Answered: - Research and development (R&D),…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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According to the COSO ERM framework, which of following best describes the difference between strategy and business objectives? A. Strategy is the plan to achieve business objectives. B. Business objectives are the steps to achieve strategy. C. Strategy is the organization’s core purpose, and business objectives are what the organization aspires to achieve over time. D. Business objectives are broader in scope than strategy.
– Based on the assignment and what you know about managementaccounting, what do you believe is the purpose of a cost element? - What is one advantage of creating a vendor master record?
The two dimensions of managerial accounting are:a. decision-facilitating and decision-influencingb. decision-facilitating and financial-influencingc. decision-influencing and profit-maximizingd. cost-minimizing and profit-maximizinge. decision-influencing and cost-minimizing
Which of the following is not among the main uses of Activity-Based-Management ABM Select one: O a. Managing product and process cost O b. Managing constrained resources O c. Managing customer profitability d. Managing environmental costs
The term strategic management accounting involves: Select one: O A. The identification, measurement and communication of cost data in all those situations where the organisation is being judged against the performance of competitors OB. The identification of inefficient internal operations O C. The preparation of historic financial accounts O D. a) and b) above
What is meant by customer-profitability analysis? Give an example of an activity that might be performed more commonly for one customer than for another.
1. SWOT analysis is typically used to identify opportunities for success in the context of threats and clarify directions and choices. TRUE FALSE 2. The main strategy that can be derived from SWOT analysis is the matching/development of the organization's strengths with identified market opportunities/threats. TRUE FALSE 3. The primary purpose of value chain analysis is to evaluate how well support activities contribute to the company's value chain. TRUE FALSE
How are the value chain and management accounting related? Distinguish between a cost center, a profit center, and an investment center using appropriate examples.
. It is an important use of managerial accounting a. determine direct cost by adding direct materials b. understand customer orientation c. recast budgeted statements according to a situation d. change variables of risk internally and externally
3. The managerial role that involves the day-to-day running of the business is the A strategic planning function B directing function Colanning function D controlling function
Which of the following statements doesn't describe the organizational strategies: Select one: O a. Tactics that managers use to work toward the organisational vision O b. Contain organisation structure, financial structure, and long-term resource allocation strategies O c. Long term in nature O d. Short term in nature
The management approach requires a firm to define segments on the basis of its internal organizational structure. What are the advantages in defining segments on this basis?

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- Research and development (R&D), production, and customer service are business functions that are all included as part of Time Left a) the value chain. b) O benchmarking. c) O none of the above d) O the supply chain. e) • marketing.