Chapter 01 Cost Management and Strategy Answer Key

Apr 30th, 2015
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1. Which of the following does not represent a main focus of cost management information? A. Strategic management. B. Performance measurement. C. Planning and decision making. D. Preparation of financial statements. E. Internal audit and control.

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Chapter 01 Cost Management and Strategy Answer KeyMultiple Choice Questions1.Which of the following does not represent a main focus of cost management information?A. Strategic management.B. Performance measurement.C. Planning and decision making.D. Preparation of financial statements.E. Internal audit and control.Difficulty: 1 EasyLearning Objective: 01-01 Explain the use of cost management information in each of the four functions of management and indifferent types of organizations; with emphasis on the strategic management function2.Strategic management can be defined as the development of a sustainable:A. Chain of command.B. Competitive position.C. Cash flow.D. Business entity.E. Company image.Difficulty: 1 Easy 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Notauthorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated,forwarded, distributed, or posted on a website, in whole or part.Learning Objective: 01-01 Explain the use of cost management information in each of the four functions of management and indifferent types of organizations; with emphasis on the strategic management functionTopic: Strategy3.Cost management has moved from a traditional role of product costing and operational controlto a broader strategic focus,

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