 Show Test Bank Cornerstones of Cost Management 3rd Edition Hansen Instant download and all chapters TEST BANK Cornerstones of Cost Management 3rd Edition Hansen https://testbankdata.com/download/test-bank-cornerstones-cost-management-3rd-edition-hansen/ CHAPTER 1: INTRODUCTION TO COST MANAGEMENT 1. An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users. a. True b. False ANSWER: True 2.The two major subsystems of the accounting information system are the financial accounting information system and the cost management accounting information system. a. True b. False ANSWER: True 3.The cost management information system is primarily concerned with producing outputs for external users. a. True b. False ANSWER: False 4.The three broad objectives of financial accounting information systems are to provide information for costing out services and products, planning and control, and decision making. a. True b. False ANSWER: False 5. Preparing reports for division managers is an activity associated with the cost management information system. a. True b. False ANSWER: True 6.The cost management information system has two major subsystems: the cost accounting information system and the operational control information system. a. True b. False ANSWER: True Which of the following cost activity is associated with the financial accounting system?
Which of the following activities is not associated with the financial accounting?
What is cost management information system?Cost Accounting Information System (CAIS) is an accounting information system which determines the costs of products manufactured or services provided and record these costs in the accounting records. It is the key to management's assessment of the company's efforts to achieve profit.
What is the main focus of cost management information?Cost management typically focuses on generating savings and maximizing profits in the longer term.
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Which of the following activities is associated with the cost management information system?
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