Assignment
Short answer 1 to 2 sentences
QUESTION 1
What is the difference between financial accounting and managerial accounting?
QUESTION 2
Explain the two reasons why the shorter the payback period the more attractive the investment is when the payback technique is used?
QUESTION 3
Distinguish between a master budget and a sales forecast.
QUESTION 4
Explain the nature and importance of a job cost sheet
QUESTION 5
Distinguish among operating, investing, and financing activities.
QUESTION 6
Managers' activities and responsibilities can be classified into three broad functions. List and discuss each function.
QUESTION 7
Identify and discuss the relevant costs in accepting an order at a special price.
QUESTION 8
Smith & Company claims that the relevant range concept is only important for variable costs. Explain the relevant range concept and discuss whether you agree with Smith & Company.
QUESTION 9
What is a CVP analysis and how is it used in managerial accounting?
QUESTION 10
What is the difference between: unit-level, batch-level, product-level, and facility-level activities?