A correlation coefficient near -1 means that two variables are moving in the _________ direction.

Cost management is concerned with producing outputs for _____.

Discuss how the goal of profit maximization is affected by ethical considerations. What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

Conversion cost is the sum of direct materials and direct labor cost and prime cost is the sum of direct labor and overhead cost.

__________ are generally materials necessary for production that do not become part of the finished product or are not used to provide a service.

Error costs are costs associated with measurements required by the cost management system and measurement costs are the costs associated with making poor decisions.

Cost is the cash or cash equivalent value sacrificed for goods and services that are expected to bring a current or future loss to the company.

An __________costing database is the collected data sets that are organized and interrelated for use in a company’s ABC information system.

Explain why actual costing systems are rarely used in practice.

An integrated cost management system receives information from and provides information to only the controller of a company.