If General Mills has a Cereal Division and a Snack Foods Division, that would be departmentalizing on the basis of:
A) location.
B) population.
C) customer.
D) function.
E) product.
Question 2 - Ebony Jones is hired by Ruby Tuesday to help with budgeting, determining the costs of the firm's meal services, and recording transactions and creating financial statements for use by its restaurant managers. Ebony is a _______ accountant.
A) managerial
B) financial
C) public
D) tax
E) forensic
Question 3 - Kimberly Clark, manufacturers of Kleenex, Huggies diapers, Cottonelle, and other brands departmentalizes based on product. One advantage to this type of departmentalization is that Kimberly Clark can:
A) simplify their supervision efforts.
B) increase efficiency due to duplication of activities.
C) respond to market demands quickly.
D) better meet the needs of customers in different countries.
E) deal effectively with unique customer groups.
Question 4 - The _____ created the IFRS, accounting standards used in more than 100 countries.
A) International Association of Certified Public Accountants
B) International Accounting Standards Board
C) Financial Accounting Standards Board
D) Internal Revenue Service
E) Securities and Exchange Commission
Question 5 - Wells Fargo Bank has one group of loan officers who handle consumer loans and another group who work with commercial loans for business. Grouping work units this way is known as departmentalization by:
A) function.
B) customer.
C) product.
D) specialty.
E) location.
Question 6 - The differences between managerial and financial accounting are the types of financial reports that are produced and:
A) whether the reports are prepared monthly or quarterly.
B) whether the accountant is a CPA.
C) the audience for whom the reports are intended.
D) the ethics of the accountant who prepared them.
E) the accuracy and authenticity of the reports.
Question 7 - Johnson & Johnson has a Consumer group, a Professional group, a Pharmaceutical group, and an Industrial group. Johnson & Johnson has which form of departmentalization?
A) Customer
B) Function
C) Product
D) Location
E) Cost
Question 8 - Raymond works for a manufacturing company in the accounting department. He is primarily responsible for the preparation of financial statements and reports that will be used by bankers, investors, creditors, and the government. Raymond is a(n) _______ accountant.
A) tax
B) investment
C) managerial
D) financial
E) cost
Question 9 - A company grouping the United States into the Northeast Region, the Northwest Region, the Southeast Region, and the Southwest Region would be departmentalization by:
A) state.
B) customer.
C) function.
D) product.
E) location.
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