109) Imagine purchasing a cup of coffee. Which of the following statements correctly classifies the direct, indirect, variable, and fixed costs associated with that purchase, assuming the cost object is the cup of coffee?
A) The cost of the cup and the lid is an indirect cost because it can be readily traced to the cost object.
B) direct labor plus direct materials.
C) The volume of coffee beans purchased by the café is a variable cost because it changes in total with the changing volume of cups of coffee sold.
D) The cafe's monthly water bill is a fixed cost, because it changes along with the changing volume of sales.
110) Amazon’s experimentation with “anticipatory shipping” is an example of which use of “big data”?
A) Predictive analytics
B) Prescriptive analytics
C) Descriptive analytics
D) Diagnostic analytics
111) Financial accounting information is generally used exclusively by internal parties such as managers.
⊚ true
⊚ false
⊚ false
112) Financial accounting information is reported for the company as a whole.
⊚ true
⊚ false
⊚ false
113) Managers must direct, lead, and motivate during the implementation function.
⊚ true
⊚ false
⊚ false
114) Managers of small, private corporations use managerial accounting information, whereas managers of large, public corporations use financial accounting information.
⊚ true
⊚ false
⊚ false
115) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the accuracy of the reporting system.
⊚ true
⊚ false
⊚ false
116) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting environment: ethics, fraud, and management.
⊚ true
⊚ false
⊚ false
117) A sustainable business is one with the ability to meet the needs of today without sacrificing the ability of future generations to meet their own needs.
⊚ true
⊚ false
⊚ false
118) The term "big data" refers to the volume, velocity, and veracity of data.