Test Bank: Cost Accounting Essay Example

Chapter 1—Introduction to Cost Management

LEARNING OBJECTIVES

|LO 1 |What are the relationships among financial, management, and cost accounting? |
|LO 2 |What are two common organizational strategies? |
|LO 3 |What is a value chain, and what are the major value chain functions? |
|LO 4 |How is a balanced scorecard used to implement an organization’s strategy? |
|LO 5 |Why must accountants understand an organization’s structure to perform effectively in that organization? |
|LO 6 |What are the sources of ethical standards for cost accountants? |
|LO 7 |What are the sources of authoritative pronouncements for the practice of cost accounting? |

QUESTION GRID

|True/False | | | | | | | | | |
| |Difficulty Level |Learning Objectives |
| |Easy |Moderate |
| |Easy |Moderate |Difficult|LO 1 |LO 2 |LO 3 |LO 4 |LO 5 |LO 6 |
| |Difficulty Level |Learning Objectives |
| |Easy |Moderate |Difficult|LO 1 |LO 2 |LO 3 |LO 4 |LO 5 |
| |Difficulty Level |Learning Objectives