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TERP10 CO

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Title of test:
TERP10 CO

Description:
CO Portion

Author:
Me
(Other tests from this author)

Creation Date:
16/05/2013

Category:
Computers

Number of questions: 45
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Content:
An executive is interested in assessing the performance of a product (e.g., standard skateboard) in a particular market segment (e.g, North America). The area of management accounting most suited for this is? Profitability analysis Overhead cost accounting Product cost accounting Profit center accounting Cost and revenue element analysis.
Profitability analysis is associated with which of the following organizational levels? Cost center Profit center Company code Operating concern Controlling area.
Product cost accounting is associated with which of the following organizational levels? Cost center Profit center Company code Operating concern Controlling area.
Overhead cost accounting is associated with which of the following organizational levels? Cost center Profit center Company code Operating concern Controlling area.
Profit center accounting is associated with which of the following organizational levels? Cost center Profit center Company code Operating concern Controlling area.
Which of the following are controlling objects? Cost center Profit center Primary cost element Internal order Production order.
Which of the following about cost centers are true? Cost centers are only responsible for cost containment Cost centers are responsible for cost containment and revenue generation Cost centers provide value added services that are consumed by other parts of the organization Cost centers are used to track costs associated with short-term (temporary) projects Costs centers are evaluated based on return on investment (ROI).
Which of the following about profit centers are true? Profit centers are only responsible for cost containment Profit centers are responsible for cost containment and revenue generation Profit centers provide value added services that are consumed by other parts of the organization Profit centers are used to track costs associated with short-term (temporary) projects Profit centers are evaluated based on return on investment (ROI).
Which of the following are true controlling objects (vs. statistical controlling objects)? Cost center Profit center Internal order Statistical Project Profitability segment.
Which of the following are statistical controlling objects (vs. true controlling objects)? Cost center Profit center Statistical order Statistical Project Profitability segment.
Which of the following statements about primary cost elements are true? Primary cost elements are associated with a corresponding expense account in the GL Primary cost elements are associated with a corresponding revenue account in the GL All postings in the GL are automatically posted to the corresponding primary cost element The identity of the primary cost element is lost when costs are distributed to other cost objects Primary cost elements are defined only within CO and do not have a corresponding GL account in FI.
Which of the following statements about secondary cost elements are true? Secondary cost elements are associated with a corresponding expense account in the GL Secondary cost elements are associated with a corresponding revenue account in the GL All postings in the GL are automatically posted to the corresponding secondary cost element The identity of the secondary cost element is lost when costs are distributed to other cost objects Secondary cost elements are defined only within CO and do not have a corresponding GL account in FI.
Which of the following statements about postings in FI and CO are true when an expense is incurred? Debit and credit entries are posted in GL accounts Debit and credit entries are posted primary cost elements A cost object is needed in CO to accumulate the amount of the expense An FI document is created A CO document is created.
Which of the following are examples of statistical key figures? Number of employees Utilities expense Product line Conpany picnic Square feet of space.
Which of the following are methods of periodic alocation of costs? Direct allocation Assessment Distribution Statistical cost objects True cost objects.
Which of the following statements are true regarding assessments? An assessment can include primary and secondary cost elements An assessment can include more than one cost element Costs are transferred to receiving cost objects using the original primary cost elements Costs are transferred to receiving cost objects using a secondary cost element The identity of the cost elements is maintained.
Which of the following are necessary for periodic reposting of costs (e.g, assessment or distribution)? Sending cost object Receiving cost object(s) Cost elements Activity types GL account number.
Which of the following are necessary for direct allocation of costs Sending and receiving cost object Statistical key figures Cost elements Activity types GL account number.
What type of cost element do you use when passing costs from a sender to receivers utilizing an assessment? General Ledger Accounts Secondary Cost Elements Primary Cost Elements Overhead Elements.
Which of the following is true in regards to Profit Center Accounting: deals primarily with the external market is concern about profitability within functional areas of the company deals with statistical postings can have Profit and Loss statements as well as balance sheet statements.
Which Controlling Component is tasked with assimilating costs that cannot be directly assigned to the goods and services of a company: Overhead Costs Controlling Cost Center Accounting Cost Element Accounting Product Cost Controlling.
Which Organizational Structure is required if you want to use Profitability Analysis: Business Area Company Code Controlling Area Operating Concern.
What is of the following are true about Primary Cost Elements and a Secondary Cost Elements? A secondary cost element maintains its identity throughout the Controlling process A primary cost element maintains its identity throughout the controlling process A secondary cost element maybe passed into a primary cost element Primary Cost Elements must have an equivalent structure on the FI side Deal primarily with Expenses and Revenues.
What are some types of Internal Orders: Orders with Revenues Investment Orders Financial Orders Overhead Cost Orders.
What items are used in evaluating Profitability Segment? Value Fields (Key Figures) Activities Characteristics Cost Centers.
What are some examples of Periodic Allocation techniques? Assessments Distribution Periodic Reposting Indirect Activity Allocation Template Allocation.
Which of the following would be considered Key Figures in Profitability Analysis: Customer Cost of Goods Sold Revenue Product Group.
Which of the following are true regarding Product Cost Planning: creates cost estimates references prices from the material master helps identify variances in product costs automatically updates our standard price when changes arise.
Management Accounting is concerned with internal reporting and analysis True False.
Profitability analysis is concerned with the performance of profit centers True False.
Product cost accounting is concerned with allocating and managing indirect production costs True False.
A cost center is a location where costs are incurred and revenues are generated True False.
Cost centers are organized in a hierarchical manner True False.
A true controlling object can send and receive costs True False.
A statistical controlling object can send and receive costs True False.
A profit center is a cost center created to manage costs for a short term activity True False.
Primary cost elements are linked to specific expense accounts in the GL True False.
Primary revenue accounts are linked to specific revenue accounts in the GL True False.
When an expense is posted to a GL account with an associated primary cost element, a cost object must also be specified True False.
Activity types describe activities performed in cost centers True False.
Statistical key figures are used as an allocation base when assessing costs to various cost objects True False.
Statistical key figures are used in direct cost allocations to various cost objects True False.
The identity of cost elements are maintained in an assessment True False.
An assessment can include more than one cost element True False.
Profit Centers can be assigned Balance Sheet Items True False.
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