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Chapter 1: Introduction to Managerial Accounting

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Question;1.2-11 Which;of the following statements is TRUE about managerial accounting information?;A. It is prepared annually and;quarterly.;B. It is audited by CPAs.;C. It emphasizes relevance.;D. It must be prepared in conformity;with generally accepted accounting principles (GAAP).;1.2-12 Management;accounting focuses on;A.;external reporting.;B.;internal reporting.;C.;tax preparation.;D.;auditing.;1.2-13 The;person MOST likely to use ONLY financial accounting information would be the;A. bank;loan officer.;B. plant;manager.;C. vice;president of plant operations.;D. product;manager.;1.2-14 Which;of the following types of information are used in managerial accounting?;A. Financial information;B. Nonfinancial information;C.;Forecasts of future earnings;D.;All of the above;1.2-15 Which;of the following persons or groups would be LEAST likely to receive detailed;managerial accounting reports?;A.;Plant managers;B.;Current shareholders;C.;Sales territory managers;D.;CEO;1.2-16 Which;of the following types of accounting is designed to meet the needs of;decision-makers inside a company?;A. Audit accounting;B. Financial accounting;C. Managerial accounting;D. Tax accounting;1.2-17 The;primary goal of managerial accounting is to provide information to;A. shareholders.;B. creditors.;C. internal decision-makers.;D. both shareholders and creditors.

 

Paper#54939 | Written in 18-Jul-2015

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