1. In which of the following would there be adifference between financial and managerialaccounting?
a) Users of the information
b) Purpose of the information
c) Flexibility of practices
d) All of the given options
2. Which of the following is a cost that changes inproportion to changes in volume?
a) Fixed cost
b) Sunk cost
c) Opportunity cost
d) None of the given options
3. Cost accounting information can be used for allEXCEPT:
a) Budget control and evaluation
b) Determining standard costs and variances
c) Pricing and inventory valuation decisions
d) Analyzing the data
4. Which of the following is not an element of factoryoverhead?
a) Depreciation on the maintenance equipment
b) Salary of the plant supervisor
c) Property taxes on the plant buildings
d) Salary of a marketing manager
5. The main difference between the profit center andinvestment center is:
a) Decision making
b) Revenue generation
c) Cost incurrence
d) All of the given options