Chapter 2 Related Reading (quiz submission is optional) DueApr 30 at 11:59pmPoints7Questions7Time LimitNone Allowed AttemptsUnlimited Instructions Attempt History AttemptTimeScore KEPTAttempt 44 minutes7 out of 7 LATESTAttempt 44 minutes7 out of 7 Attempt 3less than 1 minute5 out of 7 Attempt 22 minutes6 out of 7 Attempt 12 minutes5 out of 7 Correct answers are hidden. Score for this attempt:7 out of 7 Submitted Mar 18 at 9:34am This attempt took 4 minutes. Read Chapter 2 from Managerial Accounting by Balakrishnan, Sivaramakrishnan, Sprinkle. This chapter discusses principles we can use to (i) identify what costs and benefits are relevant to a particular decision and (ii) estimate the identified cost and benefits. Key ideas from Chapter 2 to focus on The principal of relevance. Notice how thinking about time horizon, variability, traceability, and the cost hierarchy can help you identify relevant costs and benefits. Take the Quiz Again
4/1/23, 7:53 AMChapter 2 Related Reading (quiz submission is optional): Financial and Managerial Accounting II 22-23 (M,O,P)4 https://canvas.cmu.edu/courses/33163/quizzes/1005292/51 / 1 pts Question 1 Did you read the entire chapter? Yes No 1 / 1 pts Question 2 Controllable costs are: A. The incremental expenditures relative to current expenditures. B. Not relevant. C. Costs that a decision maker chooses to incur, relative to doing nothing D. Both A and C. E. A, B and C. 1 / 1 pts Question 3 Relevant benefits are: Past expenditures that cannot be changed.
4/1/23, 7:53 AMChapter 2 Related Reading (quiz submission is optional): Financial and Managerial Accounting II 22-23 (M,O,P)4 https://canvas.cmu.edu/courses/33163/quizzes/1005293/5The controllable benefits that differ across available options Benefits that do not change with respect to the volume of activity. Always incurred due to variable costs. None of the above. 1 / 1 pts Question 4 A decision maker's control over costs and benefits: Increases as the time horizon increases. Decreases as the time horizon increases. Does not change regardless of the time horizon. Changes in proportion to the volume capacity. None of the above
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