Business Analysis
Test Questions
Course Introduction
Business Analysis is a course designed to equip students with the essential skills and methodologies required to identify business needs and develop effective solutions to organizational challenges. The course covers topics such as stakeholder analysis, requirements gathering, business process modeling, and the use of various analytical frameworks and tools. Students learn to evaluate current business operations, design improvement initiatives, and facilitate communication between technical and non-technical stakeholders. Through real-world case studies and project work, participants gain hands-on experience in analyzing data, outlining business cases, and supporting decision-making to drive business success.
Recommended Textbook
Managerial Accounting 2nd Canadian Edition by Karen W. Braun
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12 Chapters
2681 Verified Questions
2681 Flashcards
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Page 2
Chapter 1: Introduction to Managerial Accounting
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191 Verified Questions
191 Flashcards
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Sample Questions
Q1) Performing duties in accordance with relevant laws,regulations,and technical standards make up which SMA professional ethics standard?
A)Competence
B)Confidentiality
C)Credibility
D)Integrity
Answer: A
Q2) Costs incurred to avoid poor quality goods or services are considered
A)appraisal costs.
B)activity-based costing.
C)value engineering.
D)prevention costs.
Answer: D
Q3) Owners of a company are its A)creditors.
B)customers.
C)managers.
D)shareholders.
Answer: D
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Page 3
Chapter 2: Building Blocks of Managerial Accounting
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214 Flashcards
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Sample Questions
Q1) Manufacturing overhead costs for a product include
A)direct material.
B)operating expenses.
C)prime costs.
D)indirect manufacturing costs.
Answer: D
Q2) Sunk costs are a major part of the decision making process.
A)True
B)False
Answer: False
Q3) What is the total cost of research and development at Farm Fresh Dairy?
A)$84,000
B)$155,000
C)$88,000
D)$239,000
Answer: A
Q4) The activities in the value chain must take place in a specific order.
A)True
B)False
Answer: False
Page 4
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Chapter 3: Job Costing
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296 Verified Questions
296 Flashcards
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Sample Questions
Q1) Generally accepted accounting principles (GAAP)mandate that manufacturing overhead must be treated as a product cost for financial reporting purposes.
A)True
B)False
Answer: True
Q2) Under a perpetual inventory system,the journal entry needed to record the sale of a job includes a
A)debit to cost of goods sold and credit to finished goods inventory.
B)debit to finished goods inventory and credit to cost of goods sold.
C)debit to sales revenue and credit to accounts receivable.
D)debit to cost of goods sold and credit to accounts receivable.
Answer: A
Q3) Although service firms do not carry large amounts of inventory,it is still necessary to know the costs related to the different jobs.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Activity Based Costing
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Sample Questions
Q1) Green Bags Company manufactures cloth grocery bags to be sold to grocery stores and other retailers.Green Bags Company sells the bags in cases of 1,000 bags.The bags come in three sizes-Large,Medium,and Small.Currently,Green Bags Company uses a single plant-wide overhead rate to allocate its $7,141,100 of annual manufacturing overhead.Of this amount,$1,875,000 is associated with the Large Bag line,$2,992,500 is associated with the Medium Bag line,and $2,273,600 is associated with the Small Bag line.Green Bags Company is currently running a total of 37,000 machine hours-12,500 in the Large Bag line,13,300 in the Medium Bag line,and 11,200 in the Small Bag line.Green Bags Company uses machine hours as the cost driver for manufacturing overhead costs.
The plant-wide manufacturing overhead rate would be closest to
A)$50.68 per machine hour.
B)$150.00 per machine hour.
C)$193.00 per machine hour.
D)$225.00 per machine hour.
Q2) The benefits of ABC/ABM are higher when the risks of cost distortion is high.
A)True
B)False
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Chapter 5: Process Costing
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258 Flashcards
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Sample Questions
Q1) The total number of physical units for which we have to account is
A)42,000.
B)60,000.
C)57,000.
D)54,000.
Q2) In a process costing environment,direct labour and manufacturing overhead are usually combined into one cost category called "conversion cost."
A)True
B)False
Q3) The entry to record the use of direct materials in production would include a A)debit to WIP inventory.
B)debit to raw materials inventory.
C)debit to finished goods inventory.
D)credit to finished goods inventory.
Q4) In a process costing system,manufacturing costs are usually combined into two categories.
A)True
B)False
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Chapter 6: Cost Behaviour
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Sample Questions
Q1) Under variable costing,variable manufacturing costs are treated as inventoriable product costs.
A)True
B)False
Q2) A regression equation's variable cost per unit is represented by the ________ on the regression analysis output.
A)Intercept coefficient
B)X variable 1 coefficient
C)R-square
D)Residual
Q3) Total variable costs can be expressed as y = vx,where y = total variable cost,v= variable cost per unit of activity,and x = volume of activity.
A)True
B)False
Q4) The variable cost per snow cone using the high-low method is A)$1.67.
B)$0.73.
C)$0.77.
D)$0.60.
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Chapter 7: Cost-Volume-Profit Analysis
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Sample Questions
Q1) Contribution margin less fixed costs yields
A)operating income.
B)sales.
C)variable costs.
D)none of the above.
Q2) American Corporation currently sells its products for $200 per unit.Management is contemplating a 20% increase in the selling price for the next year.Variable costs are currently 40% of sales revenue and are not expected to change on a dollar per unit basis for next year (the company will pay the same amount for variable costs next year).Fixed expenses are $120,000 per year.
If fixed costs increase 10% next year,and the new selling price per unit goes into effect,how many units will need to be sold to break-even?
A)413 units
B)1,100 units
C)132,000 units
D)825 units
Q3) When a company sells more than one product,there is one unique break-even point.
A)True
B)False
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Page 9
Chapter 8: Short-Term Business Decisions
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Sample Questions
Q1) In a special sales order decision,incremental fixed costs that will be incurred if the special order is accepted are considered to be
A)relevant to the decision.
B)irrelevant to the decision.
C)opportunity costs.
D)sunk costs.
Q2) If the lost revenues from dropping a product exceed the cost savings from dropping the product,it should be retained.
A)True
B)False
Q3) If Clear Sky Sailmakers accepts a special order for 5,000 sails at a price of $225 per unit,and fixed costs remain unchanged,how would operating income be affected? (NOTE: Assume regular sales are not affected by the special order. )
A)Increase by $1,125,000
B)Increase by $50,000
C)Decrease by $50,000
D)Increase by $150,000
Q4) The internal financial statements of Pierce
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10
Chapter 9: The Master Budget and Responsibility Accounting
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Sample Questions
Q1) Newton Company is preparing its cash budget for the upcoming month.The beginning cash balance for the month is expected to be $12,000.Budgeted cash receipts are $84,000,while budgeted cash disbursements are $72,000.Newton Company wants to have an ending cash balance of $40,000.The excess (deficiency)of cash available over disbursements for the month would be
A)$24,000.
B)$(24,000).
C)$112,000.
D)$168,000.
Q2) The cash budget is prepared after the operating budget.
A)True
B)False
Q3) The preparation of which of the following is the final step in the preparation of the financial budget?
A)Master budget
B)Budgeted balance sheet
C)Operating budgets
D)Cash budget
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Chapter 10: Flexible Budgets and Standard Costs
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Sample Questions
Q1) Blackwell Manufacturing,which produces flip-flops,is developing direct material standards.Each flip-flop requires 0.52 kilograms of a special foam.The allowance for waste is 0.03 kilograms per flip-flop,while the allowance for rejects is 0.02 kilograms per flip-flop.What is the standard quantity of foam per flip-flop?
A)0.52 kilograms
B)0.54 kilograms
C)0.57 kilograms
D)0.55 kilograms
Q2) What is the direct labour price variance at Green Garden Supply?
A)$750 favourable
B)$800 favourable
C)$750 unfavourable
D)$800 unfavourable
Q3) Which term below is best paired with "a budget for a single unit"?
A)Static budget
B)Standard cost
C)Overhead flexible budget variance
D)Production volume variance
Q4) Identify five benefits of standard costs.
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Chapter 11: Performance Evaluation and the Balanced Scorecard
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Sample Questions
Q1) What is the Tandem division's asset turnover?
A)2.0
B)4.2
C)8.3
D)13.3
Q2) The profit margin is operating income divided by sales.
A)True
B)False
Q3) What is the Tandem division's profit margin?
A)7.50%
B)24.00%
C)12.00%
D)200.00%
Q4) Kleener Company has a profit margin of 15%,a target rate of return of 12%,and asset turnover of 2.0.The sales in dollars for Kleener Company would be closest to A)$27,000.
B)$90,000.
C)$360,000.
D)$1,200,000.
13
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Chapter 12: Capital Investment Decisions and the Time
Value of Money
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175 Flashcards
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Sample Questions
Q1) Which of the following capital budgeting methods uses accrual accounting income?
A)Payback method
B)Accounting rate of return method
C)Net present value method
D)Internal rate of return method
Q2) Investments with shorter payback periods are more desirable,all else being equal.
A)True
B)False
Q3) The net present value of the Kentucky proposal is closest to
A)$672,500.
B)$677,300.
C)$684,600.
D)$703,380.
Q4) Which term below is best described as a "formal means of analyzing long-range investment alternatives"?
A)Time value of money
B)Capital budgeting
C)Payback period
D)Annuity
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