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BUS 202 Test

Enter the letter for the matching Answer
incorrect
1.
management by exception
incorrect
2.
direct fixed costs
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3.
decentralization
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4.
controllable margin
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5.
flexible budget
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6.
Investment center
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7.
Residual Income
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8.
Responsibility reporting system
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9.
Return on investment (ROI)
A.
Cost that relate specifically to a responsibility center and are incurred for the sole benefit of the cednter
B.
The income that remains after subtracting from the controllable margin the minimum rate of return on a company's average operating assets
C.
control of operations is delegated to many mangers throughout the organization
D.
the preparation of reports for each level of responsibility in the company's organization chart
E.
a projection of budget data for various levels of activity
F.
a measure of managements effectiveness in utilizing assets at its disposal in an investment center
G.
A responsibility center that incurs costs, generates revenues, and has control over decisions regarding the assets available for use
H.
The review of budget reports by top management focused entirely or primarily on differences between actual results and planned objectives
I.
contribution margin - controllable fixed cost
Type the Question that corresponds to the displayed Answer.
incorrect
10.
A responsibility center that incurs costs and also generates revenue
incorrect
11.
Costs incurred indirectly and allocated to a responsibility center that are not controllable at that level
incorrect
12.
Costs that are incurred for the benefit of more than one profit center
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13.
a cost over which a manager has control
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14.
A projection of budget data at one level of activity
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15.
a responsibility center that incurs costs but does not directly generate revenues
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16.
A part of management accounting that involves accumulating and reporting revenues and costs on the basis of the manager who has the authority to make the day to day decisions about the items
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17.
An area of responsibility in decentralized operations
incorrect
18.
the use of budgets to control operations

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