Chapter 24 Accounting 26e Carl Warren James M Reeve Jonathan Duchac

Chapter 24 Accounting 26e Carl Warren James M Reeve Jonathan Duchac

Complete Chapter Questions With Answers

Sample Questions Are Posted Below

1. Separation of businesses into more manageable operating units is termed decentralization.
   1. True
   2. False

ANSWER:                                  True

DIFFICULTY:                           Easy

Bloom’s: Remembering

LEARNING OBJECTIVES:        ACCT.WARD.16.24-01 – 24-01

ACCREDITING STANDARDS:   ACCT.ACBSP.APC.36 – Budgeting and Responsibility

ACCT.IMA.09 – Performance Measurement BUSPROG: Analytic

2. The process of measuring and reporting operating data by responsibility centers is termed responsibility accounting.
   1. True
   2. False

ANSWER:                                  True

DIFFICULTY:                           Easy

Bloom’s: Remembering

LEARNING OBJECTIVES:        ACCT.WARD.16.24-01 – 24-01

ACCREDITING STANDARDS:   ACCT.ACBSP.APC.36 – Budgeting and Responsibility

ACCT.IMA.09 – Performance Measurement BUSPROG: Analytic

3. A decentralized business organization is one in which all major planning and operating decisions are made by top
   1. True
   2. False

ANSWER:                                  False

DIFFICULTY:                           Easy

Bloom’s: Remembering

LEARNING OBJECTIVES:        ACCT.WARD.16.24-01 – 24-01

ACCREDITING STANDARDS:   ACCT.ACBSP.APC.36 – Budgeting and Responsibility

ACCT.IMA.09 – Performance Measurement BUSPROG: Analytic

4. A centralized business organization is one in which all major planning and operating decisions are made by top
   1. True
   2. False

ANSWER:                                  True

DIFFICULTY:                           Easy

Bloom’s: Remembering

LEARNING OBJECTIVES:        ACCT.WARD.16.24-01 – 24-01

ACCREDITING STANDARDS:   ACCT.ACBSP.APC.36 – Budgeting and Responsibility

ACCT.IMA.09 – Performance Measurement BUSPROG: Analytic