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Chapter 1 Introduction to Managerial Accounting

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Question;1) Evaluating operations by comparing;actual results to budgeted results is a part of the controlling responsibility;of management.;2) Controlling means overseeing the;company's day-to-day operations.;3) The purpose of managerial accounting is;to gather, summarize, and report the cost and revenue data relevant to each;decision that is made.;4) Budgeting is the process of evaluating;the results of business operations against a plan and then making adjustments;to that plan.;5) Planning, directing, and controlling;are a manager's three primary responsibilities.;6) Managerial accounting develops reports;that help internal parties effectively and efficiently run the company.;7) Directing means setting goals and;objectives for the company and determining how to achieve them.;8) Budgets are the quantitative expression;of management's plans.

 

Paper#55005 | Written in 18-Jul-2015

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