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Chapter 1: The Role of Accounting Information in Management

Decision Making
True / Short
Learning Objective False Multiple Choice Matching Exercises Answer Problems
Q1: What types of decisions do 1-4 1-12 1 6
managers make for an S: 59, 67 Formatted: Highlight
organizationWhat is the W: 78, 83, 84
process of strategic
management and decision
making?
Q2: What types of control systems 5-8 13 - 14 7
do managers use?
Q32: What is the role of 5-99- 13-20, 3215-23 3 3, 4
accounting information in 13 S: 60-62 Formatted: Highlight
strategic management W: 68-70, 80
decision making?
Q45: What information is 19- 45-5124-30 4 1 2 1, 2
relevant for decision 2214- S: 63-65
making? 17 W: 74, 75, 77,
79, 81, 82
Q5 How does business risk affect 18-21 31-32
management decision
making?
Q63: How do uncertainties 10- 21-3033-40 2 1, 5, 7 1
and biases affect 1322- W: 72, 73 Formatted: Highlight
management the quality of 24
decision makings?
Q74: How can managers 14- 31, 34-4441-53 2 4, 8
make higher-quality 1825- S: 58 Formatted: Highlight
decisions? 29 W: 71
Q5: What information is relevant 19-22 45-51 4 1 2 1, 2
for decision making? S: 63-65
W: 74, 75, 77,
79, 81, 82
Q86: What is ethical decision 23- 52-5754-59 5
making, and why is it 2530- S: 66 Formatted: Highlight
important? 32 W: 76
S: Questions from the study guide
W: Questions from web quizzes on the student web site
Commented [mbs2421]: I didn’t know about the study guide
True / Multiple Short or web quizzes, so I just left this part
Level of Complexity* False Choice Matching Exercises Answer Problems
Foundation: Repeat or paraphrase All All All All 6 2
information; Reason to single correct
solution; Perform computations; etc.
Step 1: Identify the problem, relevant 1, 2, 5, 6, 1, 2
information, and uncertainties 7
1-2 Cost Management
Step 2: Explore interpretations and 3, 4 1

connections
Step 3: Prioritize alternatives and
implement conclusions
Step 4: Envision and direct strategic
innovation
*Based on level in Steps for Better Thinking (Exhibit 1.10, textbook p. 16):
Note: Step 1, 2, 3, and 4 questions in this test bank are intentionally open-ended and subjective, giving students the
opportunity to demonstrate skills such as judgment, reasoning, identification of uncertainties, identification or analysis of
pros and cons, and so on. Therefore, student answers may not exactly match those shown in the solutions.
Chapter 1: The Role of Accounting Information in Management Decision Making 1-3
True / False
1. A vision statement is one way to clarify an organization’s basic purpose and ideology.
2. Most managers follow a standard template and format when writing a vision statement.
3. A vision statement helps employees understand how to deal with various stakeholder groups.
4. Organizational core competencies are the tactics that managers use to take advantage of the vision.
5. Belief systems encourage employees to be inspired by the vision of the company
6. Boundary systems set budget goals to constrain behavior.
7. Diagnostic systems set budget goals to constrain behavior.
8. Interactive systems should be examined only when a problem exists.
59. Accounting information is the only thing managers need to make financial decisions.
610. Accounting information is used to monitor operations by comparing actual results to planned results.
711. Accounting information cannot be used to motivate employee behavior.
812. Cost accounting information is used for both external reporting and internal decision making.
913. Cost accounting information, such as the valuation of ending inventory, is shown on external
financial statements.
194. Incremental cash flows are relevant for decision making.
1520. Incremental cash flows are the same as unavoidable cash flows.
1621. Relevant information for decisions can focus both on learning from the past and anticipating the
future.
1722. The cost of your old automobile is relevant in the decision to purchase a new automobile.
18. Business risk is the risk that business will be altered or interrupted in some way.
19. Business risk should be monitored regularly
20. Risk management can eliminate business risk
21. Using prior year, historical information can eliminate business risk.
2210. Because accounting information is highly objective and quantitative in nature, it is not subject to
uncertainties or management bias.
2311. Uncertainty and bBiases reduce decision quality.
12. Uncertainties cause decision makers to ignore weaknesses in a preferred course of action.
2413. Uncertainties and bBiases do not affect external financial reports, because they are based on objective
standards.
1425. Because we can never completely remove biases and uncertainty business risk from decision making,
higher quality decision processes are often impreciseineffective.
2615. Higher quality decisions result from higher quality information, reports, and decision making
processes.
2716. Few management decisions can be made with absolute certainty.
2817. Open-ended problems are not often seen in business.
2918. When learning cost accounting, it is sufficient to learn the mechanics of applying cost accounting
methods.
1-4 Cost Management
19. Incremental cash flows are relevant for decision making.

20. Incremental cash flows are the same as unavoidable cash flows.
21. Relevant information for decisions can focus both on learning from the past and anticipating the
future.
22. The cost of your old automobile is relevant in the decision to purchase a new automobile.
3023. Ethical behavior is an individual obligation, but not an organizational obligation.
3124. Employees will always make ethical decisions if they act in the best interests of shareholders.
3225. Ethical behavior is required of every employee within an organization.
Multiple Choice
1. Which of the following influences organizational strategies?
a. Organizational vision
b. Financial statement results
c. Computer software
d. Number of employees
2. Which of the following statements regarding organizational vision is false?
a. Organizational vision means the same as core competencies
b. Organizational vision is one tool for expressing an organization’s main purpose
c. Organizational vision should be communicated to all employees
d. Managers sometimes divide the organizational vision into one or more written statements
3. An organizational vision is sometimes broken down into
I. Mission statement
II. Core values statement
III. Code of conduct
a. I only
b. I and II only
c. I, II, and III
d. II and III only
4. Organizational core competencies can include
a. A mission statement
b. Patents, copyrights and special legal protections
c. A code of conduct
d. An operating plan
5. How are organizational strategies related to core competencies?
a. Competencies are the tactics managers use to take advantage of strategies
b. Competencies and strategies are an integral part of organizational vision
c. Strategies help managers exploit competencies
d. Strategies and competencies are actually two ways of expressing the same idea
6. Organizational strategies
a. Are reconsidered on a daily basis
b. Should never be reconsidered once they are determined
c. Are reconsidered quarterly
d. Are reconsidered periodically in response to changes in the organization or environment
7. Which of the following is an element of an operating plan?
a. Developing an organizational mission
b. Preparing financial statements
c. Defining core values
d. Budgeting employee costs
Use the following information for the next 5 questions:

Maude is considering opening her own business, now that she has retired from her regular job. Her business
idea is a reminder and shopping service, in which clients submit lists of birthdays, anniversaries and other
important dates. Maude sends her clients reminders for those dates, and shops for special gifts at the client’s
request. She plans to do all of the work herself rather than hiring and managing additional employees.
1-6 Cost Management
8. “Providing excellent, reliable customer service at reasonable prices” best describes which of the
following for Maude’s business?
a. Core competency
b. Vision
c. Operating plan
d. Actual operations
9. Maude’s core competencies are most likely to include
a. An annual budget
b. The ability to deduct business expenses on her tax return
c. The first year’s actual results
d. Her knowledge of potential gifts and the local shops
10. Maude’s organizational strategy is most likely to include
a. Her knowledge of local stores
b. Operating her business from her home to keep costs low
c. Leasing equipment
d. Mailing flyers to potential clients
11. Maude’s actual operations would probably include
a. Establishing a sales strategy
b. Purchasing advertisements in local media
c. Identifying her core competencies
d. Developing a budget
12. Which of the following statements is true for Maude’s business regarding measuring and monitoring
performance?
a. Maude does not need a system to measure and monitor performance because her company is a
sole proprietorship
b. Maude needs audited financial statements every year
c. Maude can track cash flows on a monthly basis
d. Maude only needs to reconcile her accounts every few years
13. Belief systems are an important part of what framework?

a. Levers of information
b. Levers of control
c. Levers of belief
d. Control systems
14. The code of conduct of a firm would likely be considered

a. Belief system
b. Boundary system
c. Diagnostic control system
d. Interactive control system
153. Accounting information
I. Can be used to guide organizational vision
II. Is a core competency for most companies
III. Can be used to motivate performance
a. I only
b. I and II only
c. I, II, and III
d. I and III only
164. Cost accounting information is used for
a. Financial reporting only
b. Management reporting only

c. Both financial and management reporting
d. Neither financial nor management reporting
157. Which of the following is a type of external report produced by an organization’s information
system?
a. Cash flow plan
b. Analysis of potential acquisition
c. News release
d. Bonus computations
1-8 Cost Management
186. Which of the following is least likely to be an external report?

a. Credit report
b. Supplier’s inventory report
c. Tax return
d. Analysis of supplier quality
197. Which of the following is the best example of an internal report that might come from an
organization’s information system?
a. Environmental Protection Agency regulatory report
b. Operating budget
c. Income tax returns
d. Medicare cost report
2018. Financial statements are
a. External reports produced from an organization’s information system
b. Never used for internal decision making
c. Only true when they are audited
d. Unimportant reports for most organizations
2119. Information gathered outside the organization includes
a. Customer preferences
b. Product design specifications
c. Taxable income
d. Number of employees hired
220. Which of the following is not true about information in an organization’s databases?
a. Information may be collected formally or informally
b. Access to database information is often restricted to specific individuals
c. Intellectual capital is usually captured in database information
d. The benefits of generating information should exceed the costs
3223. How does the use of sophisticated information systems affect strategic managementerial decision
making?
a. Sophisticated information systems always improve strategic managementrial decision making
b. Sophisticated information systems always provide better information
c. Managers may overlook potential uncertainties and bias in their information
d. The cost of sophisticated information systems may exceed their benefit
2445. Irrelevant information may be
I. Useful in decision making
II. Internally-generated
III. Accurate
a. I only
b. I and II only
c. II and III only
d. I, II, and III
4625. Whether a given type of information is relevant or irrelevant depends on

a. Its accuracy
b. Its objectivity
c. Its relation to the decision to be made
d. Whether it is cash-basis or accrual-basis
2647. Relevant cash flows are
a. Past cash flows
b. Future cash flows
c. Incremental cash flows
d. Unavoidable cash flows
2748. In a decision to lease or borrow money and build office space, which of the following is relevant?
a. The current cost of office space
b. The architect’s fee for drawing the building
c. The number of employees currently working for the company
d. The personal preferences of the decision maker
2849. Irrelevant cash flows are
a. Avoidable
b. Unavoidable
c. Objective
d. Subjective
a. Avoidable
b. Incremental
c. Both of the above
d. None of the above
3051. Frank is considering transportation modes to a client’s office. He can drive his own car, at an
incremental cost of $0.55 per mile, or take a company car. If he takes his own car, he can be
reimbursed $0.45 per mile. If Frank makes his decision strictly from his personal economic point of
view, what is the relevant net cost associated with driving his own car?
a. $0.10
b. $0.45
c. $0.55
d. Some other amount
2131. UncertaintiesBusiness Risks
a. Are issues about which managers have doubts
b. Do not impact accounting information, which is highly objective and reliable
c. Are preconceived notions developed without careful thought
d. Are rarely a problem in business decision making
32. Alaska Airlines flies several non-stop flights daily between Los Angeles and Vancouver. Which of
the following is a business risk associated with this operation?
a. The exact number of flights flown the previous day
b. The average number of passengers on each flight the previous week
c. The average number of empty seats for flights next month
d. The number of ticket agents scheduled for each shift for the next day
22. Biases
a. Are issues about which managers have doubts.
1-10 Cost Management
3273. UncertaintyBusiness risk may hinder a manager’s ability to:

I. Adequately define a problem
II. Identify all potential solution options
III. Predict the outcome of various solution options
a. I and III only
b. II and III only
c. I, II, and III
d. II only
3430. Pet Snacks Company has 500 pounds of liver-flavored dog biscuits that are not selling well. The
selling price of the biscuits could be reduced from $3.00 to $2.50 per pound. Or, they could be
cheese-coated and sold for $4.00 per pound; the additional processing cost would be $0.50 per pound.
Cheese-coated biscuits sell very well. Which alternative probably has less uncertainty concerning
volume of sales?
a. Reduce the price of liver-flavored biscuits
b. Proceed with the cheese coating
c. Both alternatives are equally uncertain
d. Uncertainty does not affect this decision
23. Alaska Airlines flies several non-stop flights daily between Los Angeles and Vancouver. Which of
the following is an uncertainty associated with this operation?
a. The exact number of flights flown the previous day
b. The average number of passengers on each flight the previous week
c. The average number of empty seats for flights next month
d. The number of ticket agents scheduled for each shift for the next day
3254. Marriott Corporation operates hotels all over the world. Which of the following is the best example
of a potential bias associated with its operations?
a. Managers assume that most travelers are interested in conducting business, rather than
vacationing
b. Managers learn that guests rarely stay longer than a week
c. Managers find that last year’s profits were below the industry average
d. Managers are concerned because employee turnover increased during the last year
3265. Uncertainties and bBiases can affect
I. Organizational vision
II. Core competencies
III. Operating plans
a. I only
b. II only
c. I and III only
d. I, II, and III
3276. Which of the following statement about biases is true?
a. Biases can affect management accounting information, but not financial accounting information
b. Managers cannot work toward eliminating their biases
c. Biases reduce the quality of decisions
d. Biased managers are more likely to explore alternatives before making a decision
27. Uncertainty may hinder a manager’s ability to:
I. Adequately define a problem
II. Identify all potential solution options
III. Predict the outcome of various solution options
a. I and III only
b. II and III only
c. I, II, and III
d. II only
328. Biases may be
a. Intentional
b. Unintentional
c. Both intentional and unintentional
d. Beneficial to decision making
329. Biases
a. Inhibit anticipating all future conditions
b. Assist in the identification of relevant information
c. Do not affect the ability to identify irrelevant information
d. Are not a problem in ethical decision making
30. Pet Snacks Company has 500 pounds of liver-flavored dog biscuits that are not selling well. The
selling price of the biscuits could be reduced from $3.00 to $2.50 per pound. Or, they could be
cheese-coated and sold for $4.00 per pound; the additional processing cost would be $0.50 per pound.
Cheese-coated biscuits sell very well. Which alternative probably has less uncertainty concerning
volume of sales?
a. Reduce the price of liver-flavored biscuits
b. Proceed with the cheese coating
c. Both alternatives are equally uncertain
d. Uncertainty does not affect this decision
2240. Biases
a. Are issues about which managers have doubts.
431. Managers can make higher-quality decisions by relying on all of the following except Formatted: Highlight
a. More complete information
b. Better decision-making processes
c. Irrelevant information
d. Information having less uncertainty
32. How does the use of sophisticated information systems affect managerial decision making?
a. Sophisticated information systems always improve managerial decision making
b. Sophisticated information systems always provide better information
c. Managers may overlook potential uncertainties and bias in their information
d. The cost of sophisticated information systems may exceed their benefit
3342. Which of the following adjectives describes higher quality information?
I. Complete
II. Costly to develop
III. Relevant
a. I and II only
b. II and III only
c. I and III only
d. I, II, and III
3443. Higher quality reports are more
I. Relevant
II. Understandable
III. Available
a. I and II only
b. I and III only
c. II and III only
d. I, II, and III
3544. Higher quality decision making processes are less
a. Biased
b. Certain
c. Creative
d. Focused
3645. The process of making higher quality business decisions requires each of the following except
a. Distinguishing between relevant and irrelevant information
b. Recognizing and evaluating assumptions
c. Considering organizational values and core competencies
d. Relying on preconceived notions to make decisions more quickly
3746. Which of the following statements about open-ended problems is true?
a. Open-ended problems cannot be solved with absolute certainty
b. It is not possible to find the best solution to an open-ended problem
c. Only one possible solution is possible for an open-ended problem
d. The best solution to an open-ended problem ensures the most favorable outcome
3847. Why is it necessary to identify whether a problem is open-ended?
a. Open-ended problems require less decision making effort than other types of problems
b. Decision maker biases are not important when addressing open-ended problems
c. More than one potential solution must be explored for open-ended problems
d. Few management decisions are open-ended
3948. Which of the following is least likely to be an open-ended problem?

a. How to contribute as a team member
b. Choice of career
c. How to study for a course
d. Identification of required courses for a college degree
4049. John is creating next year’s budget for PDC Corporation. He estimates that next year’s sales volume
will be 5% higher than this year and that the selling price per unit will remain at $75 per unit. He
estimates that cost of goods sold will be $40 per unit, based on a purchase agreement the company
has signed with its supplier. The company has done business with the supplier for many years. In
creating the budget, which of the following tasks is most likely to be open-ended?
a. Calculating budgeted sales volume
b. Determining that sales volume will grow by 5%
c. Calculating budgeted cost of goods sold
d. Determining that cost of goods sold per unit will be $75 per unit
4150. Analyzing the strengths and weaknesses of different alternatives includes all of the following except
a. Recognizing and evaluating assumptions
b. Drawing a conclusion about which alternative is best overall
c. Gauging the quality of information
d. Considering different viewpoints
4251. Choosing and implementing a solution to a business problem includes
I. Making trade-offs among alternatives
II. Considering the organization’s strategies
III. Motivating performance within the organization
a. I only
b. I and II only
c. II and III only
d. I, II, and III
4352. Management decisions require monitoring over time for all of the following reasons except
a. The economic environment may change
b. New opportunities may become available
c. To motivate employees to follow plans exactly, even if the plan results in poor performance
d. Unforeseen threats may arise
4453. Which of the following often prevents managers from adequately exploring information before
making a decision?
a. The existence of many uncertainties
b. The need to distinguish between relevant and irrelevant information
c. The managers’ biases
d. The organization’s values
45. Irrelevant information may be
I. Useful in decision making
II. Internally-generated
III. Accurate
a. I only
b. I and II only
c. II and III only
d. I, II, and III
46. Whether a given type of information is relevant or irrelevant depends on

a. Its accuracy
b. Its objectivity
c. Its relation to the decision to be made
d. Whether it is cash-basis or accrual-basis
a. Past cash flows
b. Future cash flows
c. Incremental cash flows
d. Unavoidable cash flows
48. In a decision to lease or borrow money and build office space, which of the following is relevant?
a. The current cost of office space
b. The architect’s fee for drawing the building
c. The number of employees currently working for the company
d. The personal preferences of the decision maker
49. Irrelevant cash flows are
a. Avoidable
b. Unavoidable
c. Objective
d. Subjective
a. Avoidable
b. Incremental
c. Both of the above
d. None of the above
51. Frank is considering transportation modes to a client’s office. He can drive his own car, at an
incremental cost of $0.55 per mile, or take a company car. If he takes his own car, he can be
reimbursed $0.45 per mile. If Frank makes his decision strictly from his personal economic point of
view, what is the relevant net cost associated with driving his own car?
a. $0.10
b. $0.45
c. $0.55
d. Some other amount
5254. As an accountant, you are responsible for
I. Your own behavior
II. The behavior of any organizations you manage
III. The behavior of outside vendors with whom you interact
a. I only
b. I and II only
c. I and III only
d. I, II, and III
5355. When is the most appropriate time to identify ethical problems in organizations?
a. When they are discovered by legal authorities
b. As they arise
c. After they arise
d. When they are discovered by shareholders
5456. Conflicts of interest often compromise managers’ ability to make ethical decisions. Which of the
following situations most likely includes a conflict of interest?
a. Selling goods and services at discounted prices to some clients based on historical volumes
b. Offering sales on credit only to creditworthy clients
c. Paying dividends to shareholders rather than investing in an environmental project
d. Using LIFO to report the cost of ending inventory on the balance sheet
5557. Rewards for ethical behavior can include
I. Integrity
II. Reputation
III. Higher profits
a. I, II, and III
b. I and III only
c. I and II only
d. II only
5658. Which of the following can influence ethical behavior in organizations?

I. Employee personal values
II. Systems for measuring, monitoring and motivating
III. Organizational culture
a. I only
b. I and II only
c. I and III only
d. I, II, and III
5759. Fraudulent financial reporting
I. Is an example of unethical behavior
II. Eventually is likely to decrease organizational market value
III. Decreases the value of the accounting profession
a. I only
b. II only
c. I and III only
d. I, II, and III
Multiple Choice from Study Guide Commented [mbs2422]: I did not change anything here.
Assume it has to match new study guide.
s
58. Decision quality
a. Refers to a decision that had a positive outcome
b. Refers to the characteristics of a decision that affects the likelihood of achieving a positive
outcome
c. Is reduced by uncertainty and bias
d. Both (b) and (c) are correct
s
59. Which of the following statements is false?
a. Managers must determine the organizational vision before further planning can occur
b. Organizational strategies should take advantage of the organization’s core competencies
c. Operating plans are long-term in nature
d. Organizational core competencies are an organization’s strengths relative to competitors
s
60. Which of the following statements is true?
a. Managerial accounting and cost accounting are the same thing
b. Managerial accounting prepares reports used most frequently by external decision makers
c. Cost accounting information is used for both management and financial accounting
d. Preparation of the entity’s income tax return is an example of a cost accounting activity
s
61. All of the following are examples of external reports except:
a. Tax returns
b. Credit reports
c. Financial statements
d. Budgets
s
62. All of the following are examples of internal reports except:
a. Cash flow analyses
b. News releases
c. Analyses of supplier quality
d. Product mix analyses
s
63. If a manager is deciding whether to repair equipment or replace it, which of the following is irrelevant
to the decision?
a. Cost of the repair
b. Original cost of the equipment
c. Warranty period for the repair
d. Expected life of the equipment if it is not repaired
s
64. Lori is deciding whether to go to school full-time at the local community college or get a full time
job. Which of the following is not relevant to her decision?
a. Tuition costs
b. Potential salary she could earn in a full-time job
c. Cost of books
d. Monthly rent on her apartment
s
a. Unavoidable
b. Incremental cash flows
c. Constant across alternatives
d. Those that occurred in the past
s
66. Which of the following is not one of the steps in ethical decision making?
a. Identify the ways you might get caught doing something unethical
b. Identify the stakeholders to the decision
c. Identify the ethical dilemma
d. Identify the effects of the decision on the stakeholders
s
67. Which of the following statements is false?
a. Strategic cost management focuses on reducing costs as well as strengthening an organization’s
strategic position
b. The balanced scorecard is a formalized approach to strategic cost management
c. The balanced scorecard may include both financial and nonfinancial measures
d. Cost accounting information used for strategic cost management includes only measures of costs
Multiple Choice from Web Quizzes (Available on Student Web Site) Commented [mbs2423]: I did not change anything here.
Assume it has to match new website
w
68. An internal report is
a. Used for decision making primarily inside the organization
b. Used for decision making primarily outside the organization
c. Used to explain new personnel policies
d. Used by financial analysts
w
69. Cost accounting is all of the following except
a. A process of gathering and summarizing information
b. Preparing employee evaluation reports
c. Preparing information for internal reporting and decision making
d. Preparing information used in financial statements
w
70. Financial accounting is all of the following except
a. A process of gathering and summarizing information primarily for external reports
b. Preparing financial statements according to Generally Accepted Accounting Principles
c. Information used by shareholders, creditors, and regulators for decision making
d. Preparing information for internal reporting and decision making
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71. Decision quality can best be increased by
a. Thinking harder
b. Controlling for bias and uncertainties
c. Asking an expert for help
d. Using the most current technology
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72. Biases are
a. Necessary for decision making
b. Expert opinions
c. Ideas that are adopted without careful thought
d. Always part of decision making
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73. Uncertainties are
a. Issues about which we have doubt
b. Foreseeable factors
c. Not usually part of decision making
d. Biased information
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74. Relevant information
a. Plays no part in decision making
b. Varies with the action taken
c. Must be based on the opinion of experts
d. Is the same as unavoidable cash flows
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75. Avoidable cash flows are
a. Usually relevant to a decision
b. Cash flows that are incurred no matter which action is taken
c. Ignored in decision making
d. Are the same as irrelevant cash flows
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76. Ethical decision making
a. Does not include ongoing improvement
b. Considers the well-being of those affected by the decision
c. Has little to do with professional reputation
d. Is not important for accountants
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77. The incremental cash flow approach
a. Analyzes the additional cash inflows and outflows for a specific decision
b. Is not useful for decision making
c. Is a search for as many cash flows as possible so they can all be used in decision-making.
d. Includes unavoidable cash flows
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78. Strategic cost management focuses on all of the following except
a. Strengthening an organization’s strategic position.
b. Reducing costs
c. Both financial and non-financial measures
d. Producing financial statements
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79. Information for decision making
a. Is only produced inside an organization.
b. Includes estimates and predictions
c. Ensures certainty in the decision making process
d. Is easy to identify
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80. Cost accounting differs from financial accounting in that cost accounting is
a. Primarily concerned with income determination
b. Relied on for analyzing and implementing internal decisions
c. Focused only on qualitative information
d. Primarily concerned with external reporting
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81. Tom is gathering information about buying a new car to replace his existing car. The following items
are irrelevant
a. The purchase price of the new car
b. The gasoline mileage of the new car
c. The cost of parking at the university
d. The money Tom will receive for selling the old car
w
82. Lisa would like to start a new business selling pet toys to local pet shops. To reduce her uncertainty
about the volume of toys she can sell in a month, she should do all of the following except
a. Ask pet store managers how many pet toys they sell every month
b. Determine the average price of the pet toys sold each month at local pet stores
c. Take a sample of toys to local stores and ask how many of each item the managers would be
willing to buy
d. Produce as many toys as possible the first month to be certain she has enough
w
83. (CMA) When comparing strategic planning with operational planning, which one of the following
statements is most appropriate?
a. Strategic planning is performed at all levels of management
b. Operational planning results in budget data
c. Strategic planning focuses on authority and responsibility
d. Operational planning is long-range in focus
w
84. (CMA) Wong Company utilizes both strategic planning and operational budgeting. Which one of the
following items would normally be considered in a strategic plan?
a. Setting a target of 12 percent return on sales
b. Maintaining the image of the company as the industry leader
c. Setting a market price per share of stock outstanding
d. Distributing monthly reports for departmental variance analysis
Matching
1. Consider the following activities, which could be undertaken by managers at Southwest Airlines.
Indicate whether each item is most likely part of: (S) organizational strategies, (P) operating plans,
(A) actual operations or (M) measuring, monitoring and motivating. Each numbered item has only
one correct response.
____ 1. comparing actual revenues with budgeted revenues
____ 2. developing processes for handling customer complaints
____ 3. handling customer complaints
____ 4. hosting an annual employee picnic
____ 5. maintaining high quality customer service
_____ 6. negotiating contracts with the flight attendant union over the next six months
____ 7. opening a new route to Philadelphia
____ 8. providing employees opportunities to buy stock at discounted prices
____ 9. valuing training for employees to increase organizational competence
____ 10. reporting periodic financial results
2. The owner of a local restaurant is deciding whether to lease a company van. If the van is leased, the
company would avoid paying its vendors to deliver the supplies and food purchases. The owner has
negotiated a potential lease contract that would require a down payment plus a flat monthly rental
payment. At the end of each year, an additional “contingency” rental payment would be required if
the total number of miles driven exceeds 8,000. The owner has estimated that the van will be driven
600 miles per month for picking up supplies and food purchases, so she does not expect to incur a
contingency annual payment. Based on these miles, the owner has calculated the expected amount of
cost for fuel, repairs, and maintenance. She has received a quote from her insurance company for the
next six months’ insurance. She plans to hire a part-time employee at $10 per hour to drive the van.
The employee will work a flexible schedule based on the deliveries required. Items 1 through 7 are
relevant costs for this decision. Indicate whether the dollar amount of each relevant cost is most
likely (C) certain or (U) uncertain. Each numbered item has only one correct response.
____ 1. Lease down payment
____ 2. Monthly lease rental payments
____ 3. Contingency annual payment
____ 4. Fuel, repairs, and maintenance
____ 5. Van insurance for the next six months
____ 6. Part-time employee wages
____ 7. Reduction in vendor delivery charges
3. Indicate whether each of the following items is primarily: (I) an internal report or (E) an external
report. Each numbered item has only one correct response.
____ 1. analysis of potential acquisitions
____ 2. analysis of product mix
____ 3. capital budgets
____ 4. cash flow plan

____ 5. credit reports
____ 6. financial statements
____ 7. inventory reports for suppliers
____ 8. news release
____ 9. analysis of supplier quality
____ 10. tax returns
4. Rick is an accountant for MRT Corporation. His boss has asked him to make a recommendation
about buying or leasing new computer equipment for the accounting department. A decision has
already been made to acquire a particular type of equipment. The only remaining decision is whether
the equipment will be purchased or leased. Several pieces of information Rick might consider in his
decision are listed below. Indicate whether each of the following items is: (R) relevant or (I)
irrelevant to the decision.
____ 1. cost of current computer equipment
____ 2. interest rate for lease
____ 3. employee feelings about the type of new computer equipment
____ 4. cost of purchasing new equipment
____ 5. depreciation on old equipment
____ 6. future reliability of new equipment
____ 7. independent quality ratings on new equipment
____ 8. trade-in value of old equipment
____ 9. tax incentives to lease
____ 10. personal relationship with equipment vendor
5. The Institute of Management Accountants (IMA) Standards of Ethical Conduct for Members includes
four standards: (A) competence, (B) confidentiality, (C) integrity and (D) objectivity. Several
elements of these standards are listed below. Indicate, with the appropriate letter, the applicable
standard for each. Each numbered item has only one correct response.
____ 1. Avoid actual or apparent conflicts of interest.
____ 2. Communicate information fairly.
____ 3. Communicate unfavorable as well as favorable information and professional judgments
or opinions.
____ 4. Disclose fully all relevant information that could reasonably be expected to influence an
intended user’s understanding of the reports, comments, and recommendations presented.
____ 5. Inform subordinates as appropriate regarding the privacy of information acquired in the
course of their work.
____ 6. Monitor subordinates’ activities to assure the maintenance of privacy.
____ 7. Perform their professional duties in accordance with relevant laws and regulations.
____ 8. Prepare clear and complete reports after appropriate analysis of relevant and reliable
information.
____ 9. Refrain from disclosing restricted information acquired in the course of their work except
when authorized, unless legally obligated to do so
____ 10. Refrain from engaging in any activity that would prejudice their ability to carry out their
duties ethically
Exercises
1. Bill, the controller of CRV Corporation, is considering two new phone systems for his staff. System
1 costs $0.80 per minute, while System 2 charges $10 per month plus $0.50 per minute.
a. If Bill’s staff collectively plan to use the new phone system 20 hours per month, which alternative
is preferable from a financial perspective?
b. What is the cost of the alternative you identified in Part A?
c. How many minutes would the staff have to use the phones for Bill to be indifferent between the
two alternatives?
Short Answer
1. Roger is the controller of TPD Corporation. He is currently working with a group of managers to
decide whether to expand TPD’s operations to Mexico. Describe three uncertainties related to the
decision.
2. FCS Corporation’s accounting manager, Gail, is in the process of hiring new staff accountants. List
four types of information relevant to the hiring decision.
3. Financial accounting information is often used as an input for management decisions. Describe two
pros and two cons of using financial accounting information in decision making.
4. Explain why the use of management accounting information cannot completely eliminate the risk of
poor decisions in organizations.
5. One type of uncertainty business risk managers face in decision making is an inability to describe a
problem accurately. For example, PKT Corporation has experienced a drop in its stock price over the
last six months, and the managers have attributed the problem to a decrease in profits. Identify and
describe two uncertainties about the managers’ interpretation of the problem.
6. Each of the following is a decision made by the manager of concessions at the local sports arena.
Classify each decision as an organizational strategy (long-term) or an operating decision (short-term).
Explain your reasoning for each classification.
a. Determining whether to replace old cash registers that have been in use for eight years with new
models that also track inventories.
b. Setting a schedule for staffing the concession booths for the next month.
c. Deciding whether to close several concession stands during a week of low attendance.
d. Deciding whether to remodel the concession stands to improve wait times at each booth.
7. Think of an organization that interests you. List one boundary, belief, interactive control and
diagnostic control that organization would likely use.
78. The textbook appendix defined open-ended problems as problems for which there is no single correct
solution, often due to significant uncertainties. Discuss reasons why each of the following problems
is open-ended:
a. Pacific Northwest Mountain Bikes has developed a new braking system that will enable riders to
apply brakes to both the front and back wheels simultaneously and also to apply brakes in a
consistent pumping pattern to slow the bike, but not stop it. The company’s managers are
considering whether to manufacture and sell the brakes as part of their current product mix or
whether to sell the patent to a large bicycle manufacturer.
b. Mike Penny is trying to decide whether to major in accounting or to graduate with a double major
in accounting and information systems. He has been discussing his options with several people in
firms that would be likely to hire him. He has been told that he will make more money at the
beginning of his career if he completes both the accounting and information system degrees.
However, a double degree will add a year and a half to his time at the university.
Problems
1. Flora is deciding whether to go on a spring break cruise or drive to Florida and spend a week at
Daytona Beach. Her best friend is going on the cruise, but Flora has never been on a cruise before
and is concerned that she cannot leave if she does not like it. If she drives to Florida, she can either
drive back to campus or go home if the beach trip is not what she expects. She also needs to consider
the costs associated with both trips because her finances are somewhat limited. If she spends too
much on the trip, she will not have enough money to finish the semester and will have to increase the
hours that she works, which will likely lower her grades for the semester. Following is information
about both alternatives.
Cost for the cruise is $600 if she shares a room with her friend. It is a four-day cruise. This cost
includes all meals and incidentals while she is on the boat. In addition, there will be three off shore
excursions and no costs are covered once passengers leave the boat. After discussing these costs with
her friend, Flora estimates these costs for the trip. She believes she will spend about $150 for
excursions. She will have to drive to Daytona beach because that is the cruise ship’s home port. She
estimates that cost to be $250 and to take more than one day with an overnight stay each way. The
cruise ship charges for parking at $10 per day.
Alternatively Flora can drive to Daytona Beach at a cost of $250, stay in a hotel and enjoy the beach.
If she does this, it will cost $180 and another friend will share this cost. They will stay at the hotel for
four days. Flora has estimated the cost of food, beverages, and entertainment to be about $75 per day.
However other students have told her that this amount is too little. The hotel charges $5 a day for
parking. While she is gone, Flora needs to pay a house sitter to feed her kitten and water her plants.
This costs $12 per day.
a. What are the relevant costs for deciding whether to take the cruise or stay in Daytona Beach?
b. What factors other than costs might influence Flora’s decision? List at least two.
c. Consider your own preferences for this problem. Do you expect Flora’s preferences to be the
same as yours? How can you control for your biases and consider this problem from Flora’s
point of view?
2. Suppose the current average cost per mile for operating a car is $0.70 but the cost of gas and
maintenance is $0.40. Beth is required to drive to a client’s office that is 50 miles away (100 miles
round-trip). The client is an artist, and Beth will be expected to take the client to lunch as part of their
meeting. Beth can use her own car (a brand-new luxury sedan) and be reimbursed $0.50 per mile, use
a company-owned vehicle (a 3-year-old economy sedan), or rent a 4-year-old sports car from Gamma
Car Rental for $25 per day plus $0.25 per mile. Identify relevant information from the preceding
paragraph for Beth’s transportation decision. For each piece of relevant information, discuss why you
believe it is relevant.
a. Identify the least costly alternative from the company’s perspective.

b. Identify two qualitative factors that might influence Beth’s decision.
Answers
True / False
1. T 117. F 21. F 19. T
2. F 128. T 2210. F 20. F
3. T 139. T 2311. T 21. T
4. F 14. T 12. F 22. F
5. T 15. F 2413. F 3023. F
6. T 16. T 1425. TF 3124. F
7. F 17. F 2615. T 3225. T
8. F 18. T 2716. T
95. F 19. T 2817. F
106. T 20. F 2918. F
Multiple Choice
s
1. A 4726. C 38. C 63. B
s
2. A 2748. B 39. D 64. D
s
3. C 2849. B 40. B 65. B
s
4. B 2950. B 41. B 66. A
s
5. C 3051. A 42. D 67. D
w
6. D 321. A 43. C 68. A
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7. D 22. C 44. C 69. B
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8. B 3223. C 45. C 70. D
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9. D 33. C 46. C 71. B
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10. B 34. B 47. C 72. C
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11. B 3524. A 48. B 73. A
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12. C 3625. C 49. B 74. B
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13. B 3726. C 50. B 75. A
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14. B 27. C 51. A 76. B
w
153. D 3828. C 52. B 77. A
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164. C 3929. A 53. B 78. D
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175. C 40. C 54. C 79. B
w
186. D 30. B 55. A 80. B
w
197. B 31. C 56. D 81. C
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2018. A 32. C 57. D 82. D
s w
2119. A 33. C 58. D 83. B
s w
220. C 34. D 59. C 84. B
s
3223. C 35. A 60. C
s
4524. C 36. D 61. D
s
4625. C 37. A 62. B
Matching
1. Southwest Airlines
1. M 5. S 9. S
2. P 6. A 10. M
3. A 7. A
4. M 8. M
2. Certainty of relevant costs

1. C 4. U 7. U
2. C 5. C
3. U 6. U
3. Internal and external reports

1. I 5. E 9. I
2. I 6. E 10. E
3. I 7. E
4. I 8. E
4. Information relevance
1. I 5. I 9. R
2. R 6. I 10. I
3. I 7. I
4. R 8. I
5. IMA Standards of Ethical Conduct
1. C 5. B 9. B
2. D 6. B 10. C
3. C 7. A
4. D 8. A
Exercises
1. Phone system
a. System 2 is preferable; see the computations below.
b. System 1: $0.80 * 20 hours * 60 minutes = $960; System 2: $10 + $0.50 * 20 hours* 60 minutes
= $610
c. $0.80n = $10 + $0.50n  33.33 minutes
Problems
1. a.
Cruise Beach
Room and board $600 ($90 +$75) x 4 = $660
Parking $10 x 4 = 40 $5 x 4 = 20
Off shore excursions 150 0
Total $790 $680
b. Flora cannot leave the cruise ship if she is not enjoying the trip, and she could drive back to
campus if she was not enjoying the beach. She may not have estimated her costs accurately for
the beach trip and if she makes a choice based only on cost, she may regret her choice if costs for
the beach trip are a lot higher than costs for the cruise would have been. There are a variety of
other answers students may list.
c. Student responses should include a definite preference and acknowledge that their preferences are
likely to be different than Flora’s. Student responses to the last question should include some of
the following factors. Often, personal biases sway the way that we look at information for a
problem. We often ignore information that contradicts our preferences. Flora probably does not
have the same experiences and preferences as students. One way to control biases is to first
recognize our own preferences. Then look for ways in which our preferences affect what we
consider to be relevant or important. Another way is to talk about this problem with other people
who are likely to have preferences different than ours.
2. a. The costs from the company’s perspective are $50 for Beth to take her own car, $50 for the car
rental, or $40 if Beth takes the company car. The cheapest alternative is to take the company car.
b. Here are several qualitative factors students might provide. There are many other correct
responses.
 The “image” portrayed by each car. If the client is concerned with Beth’s image, or if Beth
herself is concerned, she may want to consider the psychological and economic image
presented by each automobile.
 Comfort. Beth and the client would likely be more comfortable in a larger car.
Short Answer
1. Here is a sample of uncertainties related to opening a business in Mexico; others may apply. For full
credit, students must describe (not just list) three major uncertainties.
 Availability of workers
 Cost of facilities
 Import / export considerations
 Exchange rate fluctuations
 Product reputation and quality in Mexico
 Infrastructure
 Education and training of workers
2. Here is a sample of information items that are relevant to the hiring decision; others may apply. For
full credit, students must list 4 relevant pieces of information.
 Degree status
 University conferring the degree
 Courses taken
 Co-curricular activities
 Languages spoken
 Internship or other experience
3. Here is a sample of pros and cons for using financial accounting information for decision making;
others may apply. For full credit, students must describe (not just list) two pros and two cons.
Pros:
 Easily available
 Subject to measurement guidelines (GAAP)
 Understood by many stakeholders

Cons
 Looks only at one measure of success—financial
 Not understood by all stakeholders
 Measurement guidelines (GAAP) often do not provide information that is relevant for
decision making (e.g., incremental cash flows)
4. Here is a sample of reasons why the use of management accounting information cannot completely
eliminate the risk of poor decisions in organizations; others may apply. For full credit, students
should adequately describe more than one (perhaps 2-3) major factors.
 Management accounting information is subject to uncertainty and bias.
 Information may be interpreted inaccurately or inappropriately.
 Management accounting information does not necessarily capture all relevant aspects of a
decision.
 Management accounting information cannot predict the future with 100% certainty.
 Uncontrollable factors, such as market conditions, may impinge on future decisions.
 Decision makers may use inappropriate decision-making processes (e.g., fail to properly
identify relevant information, insufficiently analyze information, employ biased judgment,
and/or fail to adequately clarify values and priorities)
5. Here is a sample of uncertainties about the managers’ interpretation of the stock price decline; others
may apply. For full credit, students must describe (not just list) two major uncertainties.
 No one really knows for certain all of the causes of changes in stock prices. While profits
may be a contributing factor, managers can never be 100% certain that profitability changes
are fully responsible.
 The entire stock market might have declined
 Macro-economic factors might have worsened
 Personnel changes, such as a change in a CEO
 Questionable financial reporting practices
 Anticipated increase in competition
 Reduced product demand
 Higher costs
 Changes in shareholders’ perceptions of future cash flows for the firm
6. a. This is a long-term strategy decision because it considers a period greater than one year and
allows the manager to track inventory information that could be used in making strategic product-
mix decisions
b. This is a short-term operational decision, because it refers only to the next month.
c. This is a short term decision that refers to operations for the next week.
d. This is a long term decision, because costs and benefits over a number of years will be
considered.
7. An example of a response is:
Coca-Cola:
Boundary System: Code of Business conduct for integrity around the globe.
Belief System: Mission: to refresh, inspire, create value
Diagnostic Control: Water conservation goal
Interactive Control: Information on tastes and consumer interest in healthy drinks and nutrition
facts.
78. a. Although the managers can estimate the value to the company from each option, the estimates
would be subject to uncertainty. For example, the managers cannot know with certainty the
selling price and costs if they produce the new braking system. They also cannot know how
much they would receive by selling the system to another company. In addition, there may be
factors that influence the decision, such as how the new braking system might affect the
company’s reputation for quality and innovation. Because of the uncertainties, different
managers will make different assumptions and use different amounts in their calculations.
Different analyses will result in a variety of conclusions, so there is no one correct answer.
b. Mike cannot be certain how much he will earn under each option. By the time he graduates, the
difference in starting pay could change. Also, he does not know which option would provide the
best pay in the long run. In addition, Mike cannot be certain which option would provide the
career opportunities that he would like best.
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"Perhaps," he suggested, "monsieur can show his papiers d'identité."
"Although it is somewhat unusual to produce one's credentials on the
doorstep when paying a private visit," replied his lordship, with
unaltered good humour, "I have not the slightest objection. Here is
my passport, here is a permis de séjour granted to me in Paris, here
my visiting-card, and here a quantity of correspondence addressed
to me at the Hôtel Meurice, Paris, at my flat in Piccadilly, London, at
the Marlborough Club, London, and at my brother's house at King's
Denver. Is that sufficiently in order?"
The servant perused the documents carefully, appearing particularly
impressed by the permis de séjour.
"It appears there is some mistake," he murmured dubiously; "if
monsieur will follow me, I will acquaint monsieur le comte."
They disappeared through the folding doors at the back of the hall,
and Bredon was left alone.
"Quite a little boom in Richmonds to-day," he observed, "each of us
more unscrupulous than the last. The occasion obviously calls for a
refined subtlety of method."
After what he judged to be a hectic ten minutes in the count's library,
the servant reappeared, searching for him.
"Monsieur le comte's compliments, and would monsieur step this
way?"
Bredon entered the room with a jaunty step. He had created for
himself the mastery of this situation. The count, a thin, elderly man,
his fingers deeply stained with chemicals, sat, with a perturbed
expression, at his desk. In two arm-chairs sat the two Wimseys.
Bredon noted that, while the Wimsey he had seen in the train (whom
he mentally named Peter I) retained his unruffled smile, Peter II (he
of the Renault) had the flushed and indignant air of an Englishman
affronted. The two men were superficially alike—both fair, lean, and
long-nosed, with the nondescript, inelastic face which predominates
in any assembly of well bred Anglo-Saxons.
"Mr. Bredon," said the count, "I am charmed to have the pleasure of
making your acquaintance, and regret that I must at once call upon
you for a service as singular as it is important. You have presented to
me a letter of introduction from your cousin, Lord Peter Wimsey. Will
you now be good enough to inform me which of these gentlemen he
is?"
Bredon let his glance pass slowly from the one claimant to the other,
meditating what answer would best serve his own ends. One, at any
rate, of the men in this room was a formidable intellect, trained in the
detection of imposture.
"Well?" said Peter II. "Are you going to acknowledge me, Bredon?"
Peter I extracted a cigarette from a silver case. "Your confederate
does not seem very well up in his part," he remarked, with a quiet
smile at Peter II.
"Monsieur le comte," said Bredon, "I regret extremely that I cannot
assist you in the matter. My acquaintance with my cousin, like your
own, has been made and maintained entirely through
correspondence on a subject of common interest. My profession," he
added, "has made me unpopular with my family."
There was a very slight sigh of relief somewhere. The false Wimsey
—whichever he was—had gained a respite. Bredon smiled.
"An excellent move, Mr. Bredon," said Peter I, "but it will hardly
explain——Allow me." He took the letter from the count's hesitating
hand. "It will hardly explain the fact that the ink of this letter of
recommendation, dated three weeks ago, is even now scarcely dry
—though I congratulate you on the very plausible imitation of my
handwriting."
"If you can forge my handwriting," said Peter II, "so can this Mr.
Bredon." He read the letter aloud over his double's shoulder.
"'Monsieur le comte—I have the honour to present to you my friend
and cousin, Mr. Death Bredon, who, I understand, is to be travelling
in your part of France next month. He is very anxious to view your
interesting library. Although a journalist by profession, he really
knows something about books.' I am delighted to learn for the first
time that I have such a cousin. An interviewer's trick, I fancy,
monsieur le comte. Fleet Street appears well informed about our
family names. Possibly it is equally well informed about the object of
my visit to Mon Souci?"
"If," said Bredon boldly, "you refer to the acquisition of the de Rueil
formula for poison gas for the British Government, I can answer for
my own knowledge, though possibly the rest of Fleet Street is less
completely enlightened." He weighed his words carefully now,
warned by his slip. The sharp eyes and detective ability of Peter I
alarmed him far more than the caustic tongue of Peter II.
The count uttered an exclamation of dismay.
"Gentlemen," he said, "one thing is obvious—that there has been
somewhere a disastrous leakage of information. Which of you is the
Lord Peter Wimsey to whom I should entrust the formula I do not
know. Both of you are supplied with papers of identity; both appear
completely instructed in this matter; both of your handwritings
correspond with the letters I have previously received from Lord
Peter, and both of you have offered me the sum agreed upon in
Bank of England notes. In addition, this third gentleman arrives
endowed with an equal facility in handwritings, an introductory letter
surrounded by most suspicious circumstances, and a degree of
acquaintance with this whole matter which alarms me. I can see but
one solution. All of you must remain here at the château while I send
to England for some elucidation of this mystery. To the genuine Lord
Peter I offer my apologies, and assure him that I will endeavour to
make his stay as agreeable as possible. Will this satisfy you? It will?
I am delighted to hear it. My servants will show you to your
bedrooms, and dinner will be at half-past seven."
"It is delightful to think," said Mr. Bredon, as he fingered his glass

and passed it before his nostrils with the air of a connoisseur, "that
whichever of these gentlemen has the right to the name which he
assumes is assured to-night of a truly Olympian satisfaction." His
impudence had returned to him, and he challenged the company
with an air. "Your cellars, monsieur le comte, are as well known
among men endowed with a palate as your talents among men of
science. No eloquence could say more."
The two Lord Peters murmured assent.
"I am the more pleased by your commendation," said the count, "that
it suggests to me a little test which, with your kind co-operation, will, I
think, assist us very much in determining which of you gentlemen is
Lord Peter Wimsey and which his talented impersonator. Is it not
matter of common notoriety that Lord Peter has a palate for wine
almost unequalled in Europe?"
"You flatter me, monsieur le comte," said Peter II modestly.
"I wouldn't like to say unequalled," said Peter I, chiming in like a well-
trained duet; "let's call it fair to middling. Less liable to
misconstruction and all that."
"Your lordship does yourself an injustice," said Bredon, addressing
both men with impartial deference. "The bet which you won from Mr.
Frederick Arbuthnot at the Egotists' Club, when he challenged you to
name the vintage years of seventeen wines blindfold, received its
due prominence in the Evening Wire."
"I was in extra form that night," said Peter I.
"A fluke," laughed Peter II.
"The test I propose, gentlemen, is on similar lines," pursued the
count, "though somewhat less strenuous. There are six courses
ordered for dinner to-night. With each we will drink a different wine,
which my butler shall bring in with the label concealed. You shall
each in turn give me your opinion upon the vintage. By this means
we shall perhaps arrive at something, since the most brilliant forger
—of whom I gather I have at least two at my table to-night—can
scarcely forge a palate for wine. If too hazardous a mixture of wines
should produce a temporary incommodity in the morning, you will, I
feel sure, suffer it gladly for this once in the cause of truth."
The two Wimseys bowed.
"In vino veritas," said Mr. Bredon, with a laugh. He at least was well
seasoned, and foresaw opportunities for himself.
"Accident, and my butler, having placed you at my right hand,
monsieur," went on the count, addressing Peter I, "I will ask you to
begin by pronouncing, as accurately as may be, upon the wine which
you have just drunk."
"That is scarcely a searching ordeal," said the other, with a smile. "I
can say definitely that it is a very pleasant and well-matured Chablis
Moutonne; and, since ten years is an excellent age for a Chablis—a
real Chablis—I should vote for 1916, which was perhaps the best of
the war vintages in that district."
"Have you anything to add to that opinion, monsieur?" enquired the
count, deferentially, of Peter II.
"I wouldn't like to be dogmatic to a year or so," said that gentleman
critically, "but if I must commit myself, don't you know, I should say
1915—decidedly 1915."
The count bowed, and turned to Bredon.
"Perhaps you, too, monsieur, would be interested to give an opinion,"
he suggested, with the exquisite courtesy always shown to the plain
man in the society of experts.
"I'd rather not set a standard which I might not be able to live up to,"
replied Bredon, a little maliciously. "I know that it is 1915, for I
happened to see the label."
Peter II looked a little disconcerted.
"We will arrange matters better in future," said the count. "Pardon
me." He stepped apart for a few moments' conference with the
butler, who presently advanced to remove the oysters and bring in
the soup.
The next candidate for attention arrived swathed to the lip in
damask.
"It is your turn to speak first, monsieur," said the count to Peter II.
"Permit me to offer you an olive to cleanse the palate. No haste, I
beg. Even for the most excellent political ends, good wine must not
be used with disrespect."
The rebuke was not unnecessary, for, after a preliminary sip, Peter II
had taken a deep draught of the heady white richness. Under Peter
I's quizzical eye he wilted quite visibly.
"It is—it is Sauterne," he began, and stopped. Then, gathering
encouragement from Bredon's smile, he said, with more aplomb,
"Château Yquem, 1911—ah! the queen of white wines, sir, as what's-
his-name says." He drained his glass defiantly.
The count's face was a study as he slowly detached his fascinated
gaze from Peter II to fix it on Peter I.
"If I had to be impersonated by somebody," murmured the latter
gently, "it would have been more flattering to have had it undertaken
by a person to whom all white wines were not alike. Well, now, sir,
this admirable vintage is, of course, a Montrachet of—let me see"—
he rolled the wine delicately upon his tongue—"of 1911. And a very
attractive wine it is, though, with all due deference to yourself,
monsieur le comte, I feel that it is perhaps slightly too sweet to
occupy its present place in the menu. True, with this excellent
consommé marmite, a sweetish wine is not altogether out of place,
but, in my own humble opinion, it would have shown to better
advantage with the confitures."
"There, now," said Bredon innocently, "it just shows how one may be
misled. Had not I had the advantage of Lord Peter's expert opinion—
for certainly nobody who could mistake Montrachet for Sauterne has
any claim to the name of Wimsey—I should have pronounced this to
be, not the Montrachet-Aîné, but the Chevalier-Montrachet of the
same year, which is a trifle sweeter. But no doubt, as your lordship
says, drinking it with the soup has caused it to appear sweeter to me
than it actually is."
The count looked sharply at him, but made no comment.
"Have another olive," said Peter I kindly. "You can't judge wine if your
mind is on other flavours."
"Thanks frightfully," said Bredon. "And that reminds me——" He
launched into a rather pointless story about olives, which lasted out
the soup and bridged the interval to the entrance of an exquisitely
cooked sole.
The count's eye followed the pale amber wine rather thoughtfully as
it trilled into the glasses. Bredon raised his in the approved manner
to his nostrils, and his face flushed a little. With the first sip he turned
excitedly to his host.
"Good God, sir——" he began.
The lifted hand cautioned him to silence.
Peter I sipped, inhaled, sipped again, and his brows clouded. Peter II
had by this time apparently abandoned his pretensions. He drank
thirstily, with a beaming smile and a lessening hold upon reality.
"Eh bien, monsieur?" enquired the count gently.
"This," said Peter I, "is certainly hock, and the noblest hock I have
ever tasted, but I must admit that for the moment I cannot precisely
place it."
"No?" said Bredon. His voice was like bean-honey now, sweet and
harsh together. "Nor the other gentleman? And yet I fancy I could
place it within a couple of miles, though it is a wine I had hardly
looked to find in a French cellar at this time. It is hock, as your
lordship says, and at that it is Johannisberger. Not the plebeian
cousin, but the echter Schloss Johannisberger from the castle
vineyard itself. Your lordship must have missed it (to your great loss)
during the war years. My father laid some down the year before he
died, but it appears that the ducal cellars at Denver were less well
furnished."
"I must set about remedying the omission," said the remaining Peter,
with determination.
The poulet was served to the accompaniment of an argument over
the Lafitte, his lordship placing it at 1878, Bredon maintaining it to be
a relic of the glorious 'seventy-fives, slightly over-matured, but both
agreeing as to its great age and noble pedigree.
As to the Clos-Vougeôt, on the other hand, there was complete
agreement; after a tentative suggestion of 1915, it was pronounced
finally by Peter I to belong to the equally admirable though slightly
lighter 1911 crop. The pré-salé was removed amid general applause,
and the dessert was brought in.
"Is it necessary," asked Peter I, with a slight smile in the direction of
Peter II—now happily murmuring, "Damn good wine, damn good
dinner, damn good show"—"is it necessary to prolong this farce any
further?"
"Your lordship will not, surely, refuse to proceed with the
discussion?" cried the count.
"The point is sufficiently made, I fancy."
"But no one will surely ever refuse to discuss wine," said Bredon,
"least of all your lordship, who is so great an authority."
"Not on this," said the other. "Frankly, it is a wine I do not care about.
It is sweet and coarse, qualities that would damn any wine in the
eyes—the mouth, rather—of a connoisseur. Did your excellent father
have this laid down also, Mr. Bredon?"
Bredon shook his head.
"No," he said, "no. Genuine Imperial Tokay is beyond the
opportunities of Grub Street, I fear. Though I agree with you that it is
horribly overrated—with all due deference to yourself, monsieur le
comte."
"In that case," said the count, "we will pass at once to the liqueur. I
admit that I had thought of puzzling these gentlemen with the local
product, but, since one competitor seems to have scratched, it shall
be brandy—the only fitting close to a good wine-list."
In a slightly embarrassing silence the huge, round-bellied balloon
glasses were set upon the table, and the few precious drops poured
gently into each and set lightly swinging to release the bouquet.
"This," said Peter I, charmed again into amiability, "is, indeed, a
wonderful old French brandy. Half a century old, I suppose."
"Your lordship's praise lacks warmth," replied Bredon. "This is the
brandy—the brandy of brandies—the superb—the incomparable—
the true Napoleon. It should be honoured like the emperor it is."
He rose to his feet, his napkin in his hand.
"Sir," said the count, turning to him, "I have on my right a most
admirable judge of wine, but you are unique." He motioned to Pierre,
who solemnly brought forward the empty bottles, unswathed now,
from the humble Chablis to the stately Napoleon, with the imperial
seal blown in the glass. "Every time you have been correct as to
growth and year. There cannot be six men in the world with such a
palate as yours, and I thought that but one of them was an
Englishman. Will you not favour us, this time, with your real name?"
"It doesn't matter what his name is," said Peter I. He rose. "Put up
your hands, all of you. Count, the formula!"
Bredon's hands came up with a jerk, still clutching the napkin. The
white folds spurted flame as his shot struck the other's revolver
cleanly between trigger and barrel, exploding the charge, to the
extreme detriment of the glass chandelier. Peter I stood shaking his
paralysed hand and cursing.
Bredon kept him covered while he cocked a wary eye at Peter II,
who, his rosy visions scattered by the report, seemed struggling
back to aggressiveness.
"Since the entertainment appears to be taking a lively turn,"
observed Bredon, "perhaps you would be so good, count, as to
search these gentlemen for further firearms. Thank you. Now, why
should we not all sit down again and pass the bottle round?"
"You—you are——" growled Peter I.
"Oh, my name is Bredon all right," said the young man cheerfully. "I
loathe aliases. Like another fellow's clothes, you know—never seem
quite to fit. Peter Death Bredon Wimsey—a bit lengthy and all that,
but handy when taken in instalments. I've got a passport and all
those things, too, but I didn't offer them, as their reputation here
seems a little blown upon, so to speak. As regards the formula, I
think I'd better give you my personal cheque for it—all sorts of
people seem able to go about flourishing Bank of England notes.
Personally, I think all this secret diplomacy work is a mistake, but
that's the War Office's pigeon. I suppose we all brought similar
credentials. Yes, I thought so. Some bright person seems to have
sold himself very successfully in two places at once. But you two
must have been having a lively time, each thinking the other was
me."
"My lord," said the count heavily, "these two men are, or were,
Englishmen, I suppose. I do not care to know what Governments
have purchased their treachery. But where they stand, I, alas! stand
too. To our venal and corrupt Republic I, as a Royalist, acknowledge
no allegiance. But it is in my heart that I have agreed to sell my
country to England because of my poverty. Go back to your War
Office and say I will not give you the formula. If war should come
between our countries—which may God avert!—I will be found on
the side of France. That, my lord, is my last word."
Wimsey bowed.
"Sir," said he, "it appears that my mission has, after all, failed. I am
glad of it. This trafficking in destruction is a dirty kind of business
after all. Let us shut the door upon these two, who are neither flesh
nor fowl, and finish the brandy in the library."
THE LEARNED ADVENTURE OF THE
DRAGON'S HEAD
"Uncle Peter!"
"Half a jiff, Gherkins. No, I don't think I'll take the Catullus, Mr.
Ffolliott. After all, thirteen guineas is a bit steep without either the title
or the last folio, what? But you might send me round the Vitruvius and
the Satyricon when they come in; I'd like to have a look at them,
anyhow. Well, old man, what is it?"
"Do come and look at these pictures, Uncle Peter. I'm sure it's an
awfully old book."
Lord Peter Wimsey sighed as he picked his way out of Mr. Ffolliott's
dark back shop, strewn with the flotsam and jetsam of many libraries.
An unexpected outbreak of measles at Mr. Bultridge's excellent
preparatory school, coinciding with the absence of the Duke and
Duchess of Denver on the Continent, had saddled his lordship with
his ten-year-old nephew, Viscount St. George, more commonly
known as Young Jerry, Jerrykins, or Pickled Gherkins. Lord Peter was
not one of those born uncles who delight old nurses by their
fascinating "way with" children. He succeeded, however, in earning
tolerance on honourable terms by treating the young with the same
scrupulous politeness which he extended to their elders. He therefore
prepared to receive Gherkins's discovery with respect, though a
child's taste was not to be trusted, and the book might quite well be
some horror of woolly mezzotints or an inferior modern reprint
adorned with leprous electros. Nothing much better was really to be
expected from the "cheap shelf" exposed to the dust of the street.
"Uncle! there's such a funny man here, with a great long nose and
ears and a tail and dogs' heads all over his body. Monstrum hoc
Cracoviæ—that's a monster, isn't it? I should jolly well think it was.
What's Cracoviæ, Uncle Peter?"
"Oh," said Lord Peter, greatly relieved, "the Cracow monster?" A
portrait of that distressing infant certainly argued a respectable
antiquity. "Let's have a look. Quite right, it's a very old book—
Munster's Cosmographia Universalis. I'm glad you know good stuff
when you see it, Gherkins. What's the Cosmographia doing out here,
Mr. Ffolliott, at five bob?"
"Well, my lord," said the bookseller, who had followed his customers
to the door, "it's in a very bad state, you see; covers loose and nearly
all the double-page maps missing. It came in a few weeks ago—
dumped in with a collection we bought from a gentleman in Norfolk—
you'll find his name in it—Dr. Conyers of Yelsall Manor. Of course, we
might keep it and try to make up a complete copy when we get
another example. But it's rather out of our line, as you know, classical
authors being our speciality. So we just put it out to go for what it
would fetch in the status quo, as you might say."
"Oh, look!" broke in Gherkins. "Here's a picture of a man being
chopped up in little bits. What does it say about it?"
"I thought you could read Latin."
"Well, but it's all full of sort of pothooks. What do they mean?"
"They're just contractions," said Lord Peter patiently. "'Solent quoque
hujus insulæ cultores'—It is the custom of the dwellers in this island,
when they see their parents stricken in years and of no further use, to
take them down into the market-place and sell them to the cannibals,
who kill them and eat them for food. This they do also with younger
persons when they fall into any desperate sickness."
"Ha, ha!" said Mr. Ffolliott. "Rather sharp practice on the poor
cannibals. They never got anything but tough old joints or diseased
meat, eh?"
"The inhabitants seem to have had thoroughly advanced notions of
business," agreed his lordship.
The viscount was enthralled.
"I do like this book," he said; "could I buy it out of my pocket-money,
please?"
"Another problem for uncles," thought Lord Peter, rapidly ransacking
his recollections of the Cosmographia to determine whether any of its
illustrations were indelicate; for he knew the duchess to be strait-
laced. On consideration, he could only remember one that was
dubious, and there was a sporting chance that the duchess might fail
to light upon it.
"Well," he said judicially, "in your place, Gherkins, I should be inclined
to buy it. It's in a bad state, as Mr. Ffolliott has honourably told you—
otherwise, of course, it would be exceedingly valuable; but, apart
from the lost pages, it's a very nice clean copy, and certainly worth
five shillings to you, if you think of starting a collection."
Till that moment, the viscount had obviously been more impressed by
the cannibals than by the state of the margins, but the idea of figuring
next term at Mr. Bultridge's as a collector of rare editions had
undeniable charm.
"None of the other fellows collect books," he said; "they collect
stamps, mostly. I think stamps are rather ordinary, don't you, Uncle
Peter? I was rather thinking of giving up stamps. Mr. Porter, who
takes us for history, has got a lot of books like yours, and he is a
splendid man at footer."
Rightly interpreting this reference to Mr. Porter, Lord Peter gave it as
his opinion that book-collecting could be a perfectly manly pursuit.
Girls, he said, practically never took it up, because it meant so much
learning about dates and type-faces and other technicalities which
called for a masculine brain.
"Besides," he added, "it's a very interesting book in itself, you know.
Well worth dipping into."
"I'll take it, please," said the viscount, blushing a little at transacting so
important and expensive a piece of business; for the duchess did not
encourage lavish spending by little boys, and was strict in the matter
of allowances.
Mr. Ffolliott bowed, and took the Cosmographia away to wrap it up.
"Are you all right for cash?" enquired Lord Peter discreetly. "Or can I
be of temporary assistance?"
"No, thank you, uncle; I've got Aunt Mary's half-crown and four
shillings of my pocket-money, because, you see, with the measles
happening, we didn't have our dormitory spread, and I was saving up
for that."
The business being settled in this gentlemanly manner, and the
budding bibliophile taking personal and immediate charge of the
stout, square volume, a taxi was chartered which, in due course of
traffic delays, brought the Cosmographia to 110A Piccadilly.
"And who, Bunter, is Mr. Wilberforce Pope?"

"I do not think we know the gentleman, my lord. He is asking to see
your lordship for a few minutes on business."
"He probably wants me to find a lost dog for his maiden aunt. What it
is to have acquired a reputation as a sleuth! Show him in. Gherkins, if
this good gentleman's business turns out to be private, you'd better
retire into the dining-room."
"Yes, Uncle Peter," said the viscount dutifully. He was extended on
his stomach on the library hearthrug, laboriously picking his way
through the more exciting-looking bits of the Cosmographia, with the
aid of Messrs. Lewis & Short, whose monumental compilation he had
hitherto looked upon as a barbarous invention for the annoyance of
upper forms.
Mr. Wilberforce Pope turned out to be a rather plump, fair gentleman
in the late thirties, with a prematurely bald forehead, horn-rimmed
spectacles, and an engaging manner.
"You will excuse my intrusion, won't you?" he began. "I'm sure you
must think me a terrible nuisance. But I wormed your name and
address out of Mr. Ffolliott. Not his fault, really. You won't blame him,
will you? I positively badgered the poor man. Sat down on his
doorstep and refused to go, though the boy was putting up the
shutters. I'm afraid you will think me very silly when you know what
it's all about. But you really mustn't hold poor Mr. Ffolliott responsible,
now, will you?"
"Not at all," said his lordship. "I mean, I'm charmed and all that sort of
thing. Something I can do for you about books? You're a collector,
perhaps? Will you have a drink or anything?"
"Well, no," said Mr. Pope, with a faint giggle. "No, not exactly a
collector. Thank you very much, just a spot—no, no, literally a spot.
Thank you; no"—he glanced round the bookshelves, with their rows
of rich old leather bindings—"certainly not a collector. But I happen to
be er, interested—sentimentally interested—in a purchase you made
yesterday. Really, such a very small matter. You will think it foolish.
But I am told you are the present owner of a copy of Munster's
Cosmographia, which used to belong to my uncle, Dr. Conyers."
Gherkins looked up suddenly, seeing that the conversation had a
personal interest for him.
"Well, that's not quite correct," said Wimsey. "I was there at the time,
but the actual purchaser is my nephew. Gerald, Mr. Pope is interested
in your Cosmographia. My nephew, Lord St. George."
"How do you do, young man," said Mr. Pope affably. "I see that the
collecting spirit runs in the family. A great Latin scholar, too, I expect,
eh? Ready to decline jusjurandum with the best of us? Ha, ha! And
what are you going to do when you grow up? Be Lord Chancellor,
eh? Now, I bet you think you'd rather be an engine-driver, what,
what?"
"No, thank you," said the viscount, with aloofness.
"What, not an engine-driver? Well, now, I want you to be a real
business man this time. Put through a book deal, you know. Your
uncle will see I offer you a fair price, what? Ha, ha! Now, you see, that
picture-book of yours has a great value for me that it wouldn't have
for anybody else. When I was a little boy of your age it was one of my
very greatest joys. I used to have it to look at on Sundays. Ah, dear!
the happy hours I used to spend with those quaint old engravings,
and the funny old maps with the ships and salamanders and 'Hic
dracones'—you know what that means, I dare say. What does it
mean?"
"Here are dragons," said the viscount, unwillingly but still politely.
"Quite right. I knew you were a scholar."
"It's a very attractive book," said Lord Peter. "My nephew was quite
entranced by the famous Cracow monster."
"Ah yes—a glorious monster, isn't it?" agreed Mr. Pope, with
enthusiasm. "Many's the time I've fancied myself as Sir Lancelot or
somebody on a white war horse, charging that monster, lance in rest,
with the captive princess cheering me on. Ah! childhood! You're living
the happiest days of your life, young man. You won't believe me, but
you are."
"Now what is it exactly you want my nephew to do?" enquired Lord
Peter a little sharply.
"Quite right, quite right. Well now, you know, my uncle, Dr. Conyers,
sold his library a few months ago. I was abroad at the time, and it was
only yesterday, when I went down to Yelsall on a visit, that I learnt the
dear old book had gone with the rest. I can't tell you how distressed I
was. I know it's not valuable—a great many pages missing and all
that—but I can't bear to think of its being gone. So, purely from
sentimental reasons, as I said, I hurried off to Ffolliott's to see if I
could get it back. I was quite upset to find I was too late, and gave
poor Mr. Ffolliott no peace till he told me the name of the purchaser.
Now, you see, Lord St. George, I'm here to make you an offer for the
book. Come, now, double what you gave for it. That's a good offer,
isn't it, Lord Peter? Ha, ha! And you will be doing me a very great
kindness as well."
Viscount St. George looked rather distressed, and turned appealingly
to his uncle.
"Well, Gerald," said Lord Peter, "it's your affair, you know. What do
you say?"
The viscount stood first on one leg and then on the other. The career
of a book-collector evidently had its problems, like other careers.
"If you please, Uncle Peter," he said, with embarrassment, "may I
whisper?"
"It's not usually considered the thing to whisper, Gherkins, but you
could ask Mr. Pope for time to consider his offer. Or you could say
you would prefer to consult me first. That would be quite in order."
"Then, if you don't mind, Mr. Pope, I should like to consult my uncle
first."
"Certainly, certainly; ha, ha!" said Mr. Pope. "Very prudent to consult a
collector of greater experience, what? Ah! the younger generation,
eh, Lord Peter? Regular little business men already."
"Excuse us, then, for one moment," said Lord Peter, and drew his
nephew into the dining-room.
"I say, Uncle Peter," said the collector breathlessly, when the door
was shut, "need I give him my book? I don't think he's a very nice
man. I hate people who ask you to decline nouns for them."
"Certainly you needn't, Gherkins, if you don't want to. The book is
yours, and you've a right to it."
"What would you do, uncle?"
Before replying, Lord Peter, in the most surprising manner, tiptoed
gently to the door which communicated with the library and flung it
suddenly open, in time to catch Mr. Pope kneeling on the hearthrug
intently turning over the pages of the coveted volume, which lay as
the owner had left it. He started to his feet in a flurried manner as the
door opened.
"Do help yourself, Mr. Pope, won't you?" cried Lord Peter hospitably,
and closed the door again.
"What is it, Uncle Peter?"
"If you want my advice, Gherkins, I should be rather careful how you
had any dealings with Mr. Pope. I don't think he's telling the truth. He
called those wood-cuts engravings—though, of course, that may be
just his ignorance. But I can't believe that he spent all his childhood's
Sunday afternoons studying those maps and picking out the dragons
in them, because, as you may have noticed for yourself, old Munster
put very few dragons into his maps. They're mostly just plain maps—
a bit queer to our ideas of geography, but perfectly straight-forward.
That was why I brought in the Cracow monster, and, you see, he
thought it was some sort of dragon."
"Oh, I say, uncle! So you said that on purpose!"
"If Mr. Pope wants the Cosmographia, it's for some reason he doesn't
want to tell us about. And, that being so, I wouldn't be in too big a
hurry to sell, if the book were mine. See?"
"Do you mean there's something frightfully valuable about the book,
which we don't know?"
"Possibly."
"How exciting! It's just like a story in the Boys' Friend Library. What
am I to say to him, uncle?"
"Well, in your place I wouldn't be dramatic or anything. I'd just say
you've considered the matter, and you've taken a fancy to the book
and have decided not to sell. You thank him for his offer, of course."
"Yes—er, won't you say it for me, uncle?"
"I think it would look better if you did it yourself."
"Yes, perhaps it would. Will he be very cross?"
"Possibly," said Lord Peter, "but, if he is, he won't let on. Ready?"
The consulting committee accordingly returned to the library. Mr.
Pope had prudently retired from the hearthrug and was examining a
distant bookcase.
"Thank you very much for your offer, Mr. Pope," said the viscount,
striding stoutly up to him, "but I have considered it, and I have taken a
—a—a fancy for the book and decided not to sell."
"Sorry and all that," put in Lord Peter, "but my nephew's adamant
about it. No, it isn't the price; he wants the book. Wish I could oblige
you, but it isn't in my hands. Won't you take something else before
you go? Really? Ring the bell, Gherkins. My man will see you to the
lift. Good evening."
When the visitor had gone, Lord Peter returned and thoughtfully
picked up the book.
"We were awful idiots to leave him with it, Gherkins, even for a
moment. Luckily, there's no harm done."
"You don't think he found out anything while we were away, do you,
uncle?" gasped Gherkins, open-eyed.
"I'm sure he didn't."
"Why?"
"He offered me fifty pounds for it on the way to the door. Gave the
game away. H'm! Bunter."
"My lord?"
"Put this book in the safe and bring me back the keys. And you'd
better set all the burglar alarms when you lock up."
"Oo—er!" said Viscount St. George.
On the third morning after the visit of Mr. Wilberforce Pope, the
viscount was seated at a very late breakfast in his uncle's flat, after
the most glorious and soul-satisfying night that ever boy experienced.
He was almost too excited to eat the kidneys and bacon placed
before him by Bunter, whose usual impeccable manner was not in the
least impaired by a rapidly swelling and blackening eye.
It was about two in the morning that Gherkins—who had not slept
very well, owing to too lavish and grown-up a dinner and theatre the
evening before—became aware of a stealthy sound somewhere in
the direction of the fire-escape. He had got out of bed and crept very
softly into Lord Peter's room and woken him up. He had said: "Uncle
Peter, I'm sure there's burglars on the fire-escape." And Uncle Peter,
instead of saying, "Nonsense, Gherkins, hurry up and get back to
bed," had sat up and listened and said: "By Jove, Gherkins, I believe
you're right." And had sent Gherkins to call Bunter. And on his return,
Gherkins, who had always regarded his uncle as a very top-hatted
sort of person, actually saw him take from his handkerchief-drawer an
undeniable automatic pistol.
It was at this point that Lord Peter was apotheosed from the state of
Quite Decent Uncle to that of Glorified Uncle. He said:
"Look here, Gherkins, we don't know how many of these blighters
there'll be, so you must be jolly smart and do anything I say sharp, on
the word of command—even if I have to say 'Scoot.' Promise?"
Gherkins promised, with his heart thumping, and they sat waiting in
the dark, till suddenly a little electric bell rang sharply just over the
head of Lord Peter's bed and a green light shone out.
"The library window," said his lordship, promptly silencing the bell by
turning a switch. "If they heard, they may think better of it. We'll give
them a few minutes."
They gave them five minutes, and then crept very quietly down the
passage.
"Go round by the dining-room, Bunter," said his lordship; "they may
bolt that way."
With infinite precaution, he unlocked and opened the library door, and
Gherkins noticed how silently the locks moved.
A circle of light from an electric torch was moving slowly along the
bookshelves. The burglars had obviously heard nothing of the
counter-attack. Indeed, they seemed to have troubles enough of their
own to keep their attention occupied. As his eyes grew accustomed
to the dim light, Gherkins made out that one man was standing
holding the torch, while the other took down and examined the books.
It was fascinating to watch his apparently disembodied hands move
along the shelves in the torch-light.
The men muttered discontentedly. Obviously the job was proving a
harder one than they had bargained for. The habit of ancient authors
of abbreviating the titles on the backs of their volumes, or leaving
them completely untitled, made things extremely awkward. From time
to time the man with the torch extended his hand into the light. It held
a piece of paper, which they anxiously compared with the title-page of

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Test Bank for Cost Management

Measuring Monitoring and Motivating

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Solution Manual for Cost Management: Measuring,

Test Bank for Cost Management 3rd Canadian Edition by

Test Bank for Managerial Accounting Making Decisions

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Test Bank for Cornerstones of Cost Management, 2nd

Solution Manual for Strategic Brand Management:

Chapter 1: The Role of Accounting Information in Management

Step 2: Explore interpretations and 3, 4 1

19. Incremental cash flows are relevant for decision making.

Use the following information for the next 5 questions:

13. Belief systems are an important part of what framework?

14. The code of conduct of a firm would likely be considered

b. Management reporting only

186. Which of the following is least likely to be an external report?

4625. Whether a given type of information is relevant or irrelevant depends on

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46. Whether a given type of information is relevant or irrelevant depends on

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____ 4. cash flow plan

a. Identify the least costly alternative from the company’s perspective.

2. Certainty of relevant costs

3. Internal and external reports

 Understood by many stakeholders

"It is delightful to think," said Mr. Bredon, as he fingered his glass

"And who, Bunter, is Mr. Wilberforce Pope?"

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