Managerial Accounting Decision Making Quiz

Managerial Accountant designs and implements ______ information system

Cross-functional management teams who make production, marketing, and finance ______

Make substantive economic ______ affecting operations

Specify the Criterion Quantitative ______

Develop aa Decision ______

Information should be: 1. ______ 2. Accurate 3. Timely

1. Identify the ______ Considerations

2. Relevant Information is relevant to a decision problem when it has a bearing on the ______

3. Sunk costs are irrelevant to ______

4. Worldwide Airways is thinking about replacing a three year old loader with a new, more efficient loader. The new loader has an expected life in years of ______

5. If we keep the old loader, we will have depreciation costs of ______

6. If we replace the old loader, we will write-off the ______ when sold

7. We will only have depreciation on the new loader if we replace the old loader. This ______ is relevant

8. The $5,000 proceeds will only be realized if we replace the old loader. This ______ is relevant

9. Accurate information must be ______

10. Relevant Information is relevant to a decision problem when it differs among competing ______