D196 PRINCIPLES OF FINANCE AND MANAGERIAL ACCOUNTING Question and Answers Part 2 Correctly Solved 100%

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What is an example of direct materials? Cost of robotic equipment in making automobiles Cost of sandpaper in making wood furniture Cost of saws and hammers in constructing a house Cost of aluminum... in making an airplane ANS- Cost of aluminum in making an airplane What is the effect of a company's accounting department maintaining high ethical standards? The company can hire fewer accountants to do the same amount of work. The company can report more favorable results in its financial statements. The company's accounting information will increase in value. The company's accounting information will decrease in value. ANS- The company's accounting information will increase in value. Why might employees be interested in their company's financial accounting information? Financial statement data are used to record long term liabilities. Financial statement data are often used in determining employee bonuses. Financial statement data provide item-by-item product cost information. Financial statement data provide detailed internal budget information. ANS- Financial statement data are often used in determining employee bonuses. [Show More]

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