fraud. True False 3. Joint and several liability is a doctrine that allows a successful plaintiff to recover the full amount of a damage award from any defendant regardless of the defendant’s level of culpability. True False 4. Strict privity is the relationship of parties who enter into a contract together. True False 5. The restatement of torts extends liability for ordinary negligence to "foreseen" third parties who may not be explicitly known to auditors
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SYLLABUS FOR MANAGEMENT ACCOUNTING – ACCT 5100/7100 PROFESSOR LINDA BAMBER Fall 2012 Date 8/14 Tue. Topic Introduction to Management Accounting and Professionalism Chapter and Reading Course Outline Syllabus eLC Student Orientation: http://elc.uga.edu/student_orientation /index.html Assignment Due Today 1) Hand in your ACCT 5100/7100 profile. 2) Form teams of four with no more than one MBA student per team (I will try to fill out teams of two or three). One team member should email
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ACCT TEST 1. Which of the following is NOT a characteristic of a corporation? a. Corporations are organized as a separate legal taxable entity. b. Ownership is divided into shares of stock. c. Corporations experience an ease in obtaining large amounts of resources by issuing stock. d. A corporation’s resources are limited to its individual owners’ resources. e. Corporations make up 20% of all businesses. 2. An entity that is organized according to state or federal statutes
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Accounting is the collection and aggregation of information for decision makers including managers‚ investors‚ regulators‚ lenders‚ and the public. Accounting systems affect behavior and management and have affects across departments‚ organizations‚ and even countries. This paper will give the reader an understanding about cost accounting. This paper will discuss: Why is cost accounting so important to the success of the firm; what are the various methods of cost accounting and how are they used;
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3. Which of the following do not typically engage in transactions with a company and thus are not essential for its survival? a. Employees b. Secondary stakeholders c. Primary stakeholders d. Investors e. Customers ANS: B PTS: 1 4. A firm that makes use of a _____ recognizes other stakeholders beyond investors‚ employees‚ and suppliers‚ and explicitly acknowledges the two-way dialog that exists between a firm’s internal and external environments. a. stakeholder model of corporate
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The Internet is an extremely useful resource to obtain information on just about any topic. A relatively new feature of the World Wide Web is the technology for the sharing of music in MP3 format. A popular site to download "free" music is called Napster. This program allows people to share music files‚ discover new artists‚ and become part of the music community. Although Napster is controversial‚ the program should still remain accessible to Internet users and music lovers. Marc Geiger‚ a supporter
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MANAGEMENT ACCOUNTING Information for Decision-Making and Strategy Execution SIXTH EDITION Anthony A. Atkinson University of Waterloo Robert S. Kaplan Harvard University Ella Mae Matsumura University of Wisconsin–Madison S. Mark Young University of Southern California Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City S~ Paulo Sydney Hong Kong Seoul Singapore
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3. According to the product perspective of quality‚ larger number of product attributes are equivalent to higher quality. ANS: T PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic TOP: A-head: Defining Quality KEY: Bloom’s: Knowledge 4. The user perspective of quality judges a product based on how well the product performs its intended function. ANS: T PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic TOP: A-head: Defining Quality KEY: Bloom’s: Knowledge 5. According
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TRUE-FALSE—Conceptual Answer No. Description F 1. Zero-interest-bearing note payable. F 2. Dividends in arrears. T 3. Examples of unearned revenues. T 4. Reporting discount on Notes Payable. F 5. Currently maturing long-term debt. F 6. Excluding short-term debt refinanced. T 7. Accounting for sales tax collected. F 8. Accounting for sick pay. T 9. Social security taxes as liabilities. F 10. Definition of accumulation rights. T 11. Recognizing compensated absences expense. F 12
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Overview Welcome to the study of cost accounting. This introductory chapter explains the intertwining roles of managers and management accountants in choosing an organization’s strategy‚ and in planning and controlling its operations. Unlike the remainder of the textbook‚ this chapter has no “number crunching.” Its main purpose is to emphasize the management accountant’s role in providing information for managers. Review Points organization. Cost accounting provides information for both
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