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.
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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?
