BA 225 Final Exam Answers
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<strong>BA</strong> <strong>225</strong> <strong>Final</strong> <strong>Exam</strong> <strong>Answers</strong><br />
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QUESTION 1<br />
1. What is the difference between financial accounting and managerial accounting?<br />
QUESTION 2<br />
1. Explain the two reasons why the shorter the payback period the more attractive the<br />
investment is when the payback technique is used?<br />
QUESTION 3<br />
1. Distinguish between a master budget and a sales forecast.<br />
QUESTION 4<br />
1. Explain the nature and importance of a job cost sheet.<br />
QUESTION 5<br />
1. Distinguish among operating, investing, and financing activities.
QUESTION 6<br />
1. Managers’ activities and responsibilities can be classified into three broad functions. List<br />
and discuss each function.<br />
QUESTION 7<br />
1. Identify and discuss the relevant costs in accepting an order at a special price.<br />
QUESTION 8<br />
1. Smith & Company claims that the relevant range concept is only important for variable<br />
costs. Explain the relevant range concept and discuss whether you agree with Smith &<br />
Company.<br />
QUESTION 9<br />
1. What is a CVP analysis and how is it used in managerial accounting?<br />
QUESTION 10<br />
1. What is the difference between: unit-level, batch-level, product-level, and facility-level<br />
activities?
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