test bank for Management Accounting, 5th Edition Share Icon Leslie G. Eldenburg Verified Chapters 1 – 21, Complete Newest Version
Chapter 1: The role of accounting information in management decision
making
True/false questions
1. A vision statement is a theoretical description of what an organisation should become.
*a. True
b. False
Correct answer: a
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation
2. An organisational vision is a short-term plan for maximising financial results.
a. True
*b. False
Correct answer: b
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation
3. Most organisations have one stakeholder.
a. True
*b. False
Correct answer: b
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation
4. Organisational core competencies unrelated to the organisational vision.
a. True
*b. False
Correct answer: b
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation
1.3
5. Organisational strategies are the tactics that managers use to take advantage of core
competencies while working towards the organisational vision.
*a. True
b. False
Correct answer: a
Learning objective 1.1 ~ Recognise the types of decisions managers make for an
organisation
6. Most organisations have databases that contain information collected formally or
informally from internal sources only.
